Affirm Collections 2nd day quiz

How will a client be informed about their payment dates and the amount of each of them?

• Text, email, calls when they are late.

• Bills, text, and calls when they are late.

• Email, and calls when they are late.

• None of the above.

How long does it take for a customer to be charged their first payment on their loan?

• One week after the merchant processes the order.

• 24hrs after the merchant processes the order.

• One calendar month from when the merchant processes the order.

• Two weeks after affirm processes the order.

The first payment reminder is sent 10 days before the due date.

• True

• False

The first past due reminder is send to he customer after 15 days overdue.

• True

• False

Customer is going to be charged extra fees if it's overdue on a payment?

• True

• False

How long does it takes for a bank account payment to be processed?

• 1-3 Business days.

• 3-5 Calendar days.

• 24hrs.

• 3-5 Business days.

Customer are able to make a Promise to pay online in the Affirm website?

• True

• False

What is the correct timeframe in order to make an schedule payment?

• 30 days.

• 120 days.

• 60 days.

• 15 days.

What type of interest does Affirm use?

• Mixed interest.

• Simple Interest.

• Compound interest.

• Prime interest rate.

Based on how loans with affirm works, interest paid each month increases?

• True

• False