CRED Flash Field Terminologies Quiz

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Questions and Answers

What is the total outstanding amount including unbilled spend, taxes, and fees?

7600 (correct)

5000

7000

45000

Which date is specified as the last payment date?

05.09.2024

05.07.2024 (correct)

05.08.2024

06.07.2024

How much is the amount required for reversal?

6000

7000

45000

1000 (correct)

What is the Current Month Due Date?

05.08.2024 Signup and view all the answers

What is the maximum limit of the BNPL?

45000 Signup and view all the answers

What is the total loan amount stated?

45000 Signup and view all the answers

What is the current outstanding amount excluding taxes and fees?

5000 Signup and view all the answers

Which document identifier corresponds to the BNPL account?

PARFAITW94N76000L9L7E Signup and view all the answers

What is another name for CRED Flash?

CRED Flash Signup and view all the answers

What is the purpose of the bill payment deadline?

To avoid late payment fees Signup and view all the answers

What information does the 'Loan_start_date' refer to?

The due date of the month from which payment is due Signup and view all the answers

Which of the following represents the total outstanding amount including unbilled spend, taxes, and fees?

Total_collectable Signup and view all the answers

What does the 'Whitelisting_date' signify?

The Flash whitelisting date Signup and view all the answers

Which option correctly defines the 'Max_DPD_Bucket'?

The same as the current bucket Signup and view all the answers

What term refers to the principal amount due as on allocation date?

Loan_amount Signup and view all the answers

What does 'Current_bucket' represent?

The current DPD bucket as on the allocation date Signup and view all the answers

What does the term 'Loan_amount_due_As_on_Date' refer to?

Principal amount due as of a specific date Signup and view all the answers

Which column represents the identifier for the user in the system?

User_id Signup and view all the answers

What does the 'Whitelisting_date' column signify in the context of loans?

The date the account became eligible for loan approval Signup and view all the answers

Which of the following accurately describes the 'Collectable' column?

Total amount due including principal, fees, and taxes Signup and view all the answers

Which item is NOT included in the description of 'Loan_amount'?

It includes interest and taxes Signup and view all the answers

What is indicated by the 'Loan_start_date' column?

The beginning date for payment obligations Signup and view all the answers

In the context provided, what does 'Product_group' signify?

The classification of loan instruments Signup and view all the answers

Which identifier is associated with the ID of a loan instrument?

Loan_id Signup and view all the answers

Study Notes

CRED Flash Overview

Also referred to as "CRED Flash."
Bill generation occurs on a specific date, crucial for users to track.

Payment Guidelines

To avoid late payment fees, payments should be completed before a designated cutoff date.
Notifications regarding CRED Flash are sent via WhatsApp or email.

Eligibility and Collection Approaches

Specific user groups are eligible for CRED Flash, details are provided separately.
Methods for collecting payments from Flash defaulters are established.

Column Descriptions for CRED Flash Data

User_id: Unique identifier for a CRED user.
Loan_id: Identifies the Flash instalment alongside statement month and account ID.
Product_group: Categorized under "CRED_Flash."
Loan_start_date: Specifies the due date for that month's payment.
Loan_amount: Principal amount due on the allocation date.
Whitelisting_date: Date when the user was whitelisted for Flash.
Collectable: Total amount due on the allocation date, including late fees and taxes.
Opening_dues: Initial statement amount for the allocation month, with applicable fees and taxes.
Last_payment_date: The most recent date a payment was received.
Total_collectable: Overall outstanding balance, including unbilled expenses and fees.
Current_bucket: Reflects the current days past due as of the allocation date.
POS: Total outstanding amount excluding taxes and fees.

New Terminology

Max_DPD_Bucket: Equivalent to the current bucket.
Total_POS_Due_as_on_dt: Same as the loan amount.
Total_loan_amount: Defines the maximum limit for BNPL (Buy Now Pay Later).
Total_POS: Total outstanding amount exclusive of taxes and fees.
EMI_due_date: Designated due date for the current month.
Amount_required_for_reversal: Comprises total fees, interest, and taxes.
Loan_amount_due_As_on_Date: Identical to the collectable amount.
Loan_instrument_id: Identifier for BNPL accounts.
Customer_name: Name of the user associated with the account.
Phone_number: Contact number for the user.
Sub_product: Identifies the Flash category.
Product: Noted as "Newtap" as the lending source.

Example Data Entries

User ID example: 017a085f-a299-4d9c-9b72-76a662dc96f8.
Loan ID example: CRE-RLC-PARFAITW94N76000L9L7E.
Loan amount due: 5000.
Whitelisting date: 01.01.2024.
Total collectable: 7600, inclusive of unbilled items.
Current bucket indicating 2 days past due.

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Description

Test your knowledge of CRED Flash terminology and processes with this quiz. Learn about bill generation, payment deadlines, and communication methods related to CRED Flash. Perfect for those involved with or interested in financial services.