CMI Trivia Quiz

In which country or kingdom was the concept of debits and credits formally established? China India England Persia Venice Egypt    Answer: Both India and Venice The concept of debits and credits as a financial transaction classification system was first used and...

CMI’s Trivia Quiz

As recognized by the United Nations, there are currently 180 currencies across the world. Among all these currencies, how many countries do you think call their currency the “dollar?” 8 20 32 44 51 Answer: 20 The “Dollar” (symbol: $) is the name of...

CMI’s Trivia Quiz

Among all of the well-known credit cards today, which one was the first to be introduced as a dining and entertainment credit card?  American Express  Mastercard  Discover  Visa  JCB  Diners Answer: Diners    According to historian Jonathan Kenoyer, the concept of...

CMI’s Credit & Collection Trivia Quiz

In terms of developing a credit scoring model, which benchmarking approach do you think would work best? Process benchmarking Financial benchmarking Functional benchmarking Best-in-class benchmarking Operational benchmarking Before we give you our answer, let’s take a...

CMI’s Credit & Collection Trivia Quiz

Which financial ratios should credit professionals rely on the most? a) Profitability ratios b) Liquidity ratios c) Management Efficiency ratios d) Leverage ratios e) Valuation & Growth ratios There really is no right answer. In my view, it’s wide and various as...

CMI’s Credit & Collection Trivia Quiz

How many different kinds of bank letters of credit are there? •   3 •   4 •   5 •   6 •  More than 6    Answer: More than 6 A letter of credit (LC), also known as a documentary credit, bankers commercial credit, or letter of undertaking (LoU), is a payment...

CMI’s Credit & Collection Trivia Quiz

This is a hard one but take a stab at it. How many countries have declared bankruptcy over the past 200 years? •   15 •   35 •   68 •   83 •  111   Answer: A total of 83 countries, including the world’s biggest economies such as the U.S., Germany, Japan, and...

CMI’s Credit & Collection Crossword Puzzle

Whether you’re an industry veteran or just starting out, we know readers like you want to be challenged! Please take a few minutes and give our CMI Credit & Collections Crossword Puzzle a good old college try. We know you’ll enjoy testing your credit and...

CMI’s Credit & Collection Trivia Quiz

In which ancient kingdom or empire were the concepts of accounting first developed? Egypt Greece Mesopotamia Phoenicia Babylon   Answer: Mesopotamia and Babylon Accounting records dating back more than 7,000 years have been found in Mesopotamia showing lists...

CMI’s Credit & Collection Trivia Quiz

In which country, principality or city was the first stock exchange established? China Venice Belgium London Constantinople     Answer: Technically Belgium but credit will also be given for choosing Venice. Please read below. When people think of stock markets, images...

My Debtor Speaks Gobble Gobble!

Dear Crabby, I meant to reach out to you much sooner as I’ve got a customer (very small business, 2-3 employees) who rambles on and on with a new excuse each time I call them to make their payment. For example, four months ago the problem was due to severe cash flow...

CMI’s Trivia Quiz

Which group of people developed the first cheques? The Romans The Vikings The Knights Templar The Merchants of Venice The Founding Fathers Answer: The Romans   The ancient Romans are believed to have used an early form of cheques known as praescriptiones in the 1st...

CMI’s Trivia Quiz  

Which country was the first to use paper as money? a) England b) India c) Spain d) China e) None of the above The answer is (d). The first bank notes were printed on paper nearly 1,400 years ago in China, during the Tang Dynasty. At first they were used for exchanges...