Finance and Economics Objective Questions
_____ is a form of economics that focuses on the performance of the economy as a whole,
especially the national economy.
a. Consumer economics
b. Microeconomics
c. Macroeconomics
d. Federal economics
c. Macroeconomics
The advertising industry is most concerned with communicating info to whom?
a. media representatives
b. clients
c. consumers
d. agents
C. Consumers
How long are the question and answer sessions for FBLA competitive events?
a. 3 minutes
b. 5 minutes
c. 7 minutes
d. 10 minutes
a. 3 minutes
Business Calculations - A term used when a vendor offers a buyer more than one discount.
Chain Discount
Bulk Discount
Linked Discount
Wholesale Discount
1. Chain Discount
A store that uses recycled bags is showing which one of the following?
a. social responsibility
b. code of ethics
c. social intelligence
d. profit motive
a. social responsibility
Of the 25 million businesses in the United States, most:
a. are corporations
b. consist of one self-employed person
c. are partnerships
d. employ more than twenty-five people
b. consist of one self-employed person
The CEO of a production-oriented company would consider _______ a benefit to the company.
a. coordination between marketing and engineers.
b. emphasis on quality and safety.
c. carefully designed product ranges to suit customer preferences.
d. driven by understanding market forces.
b. emphasis on quality and safety.
What is the main purpose of the introduction in an FBLA presentation?
a. Summarize the conclusion
b. Grab the judges attention
c. Provide background information
d. Thank the judges
b. Grab the judges attention
Business law - If the court requires that the terms of the acceptance exactly match the terms contained in the offer in order for the contract to be legally enforceable, the court is imposing the
A) matching acceptance rule.
B) mirror image rule
C) bilateral rule.
D) unilateral rule.
B) mirror image rule
This organization is charged with protecting the public from unreasonable risks of serious injury or death from consumer products under the agency's jurisdiction.
a. Consumer Credit Protection Agency
b. Consumer Product Safety Commission
c. Food and Drug Administration
d. Federal Trade Commission
c. Food and Drug Administration
Investment banks...
A) take customer deposits
B) are insured by the FDIC
C) primarily work in the investment markets
D) guarantee rate of return on the customer’s deposits
C. primarily work in the investment markets
Which one of the following would include making improvements to existing products?
a. marketing-information management
b. market planning
c. product and service management
d. pricing
c. product and service management
During a presentation, what is the most effective way to engage the audience?
a. Reading from slides
b. Speaking in a monotone voice
c. Maintaining eye contact and using gestures
d. Using humor strategically
c. Maintaining eye contact and using gestures
The workers _______ Act is a federal law that provides pensions to retired workers and disabled
A) Occupational Safety and Health
B) Americans with Disabilities
C) Social Security
D) Fair Labor Standards
C) Social Security
Repeat business for a salesperson is generated by:
a. order fulfillment
b. recommending larger quantities
c. suggestive selling
d. service close
a. order fulfillment
How many years must financial records be maintained?
A) 8 years
B) 10 years
C) 7 years
D) 5 years
D. 5 years
In which type of distribution channel does the producer sell products to the final consumer?
a. direct
b. indirect
c. pricing
d. system
a. direct
Which of the following is NOT a recommended practice during an FBLA presentation?
a. Using visual aids to enhance understanding
b. Speaking slowly and clearly
c. asking the judges to clarify questions
d. Rehearsing the presentation multiple times
e. Continuing presentation overtime
e. Continuing presentation overtime
Business Ethics - What is the advantage of collecting first-hand data?
A) data can be gathered economically and efficiently
B) return rates for online and mailed surveys are typically over 90 percent
C) those who respond to online surveys exactly represent the overall population
D) respondents can be relied on to respond openly and truthfully to anonymous surveys
A) data can be gathered economically and efficiently
Ethically questionable in selling would include:
a. telling a prospective customers a product will be delivered in two weeks when they know it will be four weeks
b. having responses for all objections
c. using partnership selling
d. using suggestive selling
a. telling a prospective customers a product will be delivered in two weeks when they know it will be four weeks
An interest rate that includes compounding is
a) annual percentage rate.
b) long-term rate.
c) annual percentage yield.
d) short term-rate.
c) annual percentage yield.
Factors of production can be intangible. Which one of the following falls into that category?
a. land and capital
b. labor and entrepreneurship
c. land and labor
d. capital and entrepreneurship
b. labor and entrepreneurship
When crafting a compelling FBLA presentation, what does the term "Pecha Kucha" refer to?
a. A traditional Japanese dance incorporated for cultural diversity.
b. A presentation format with 20 slides shown for 20 seconds each.
c. A unique FBLA handshake to build rapport with judges.
d. A specialized software tool for enhancing visual aids.
e. A storytelling technique involving precisely 6 minutes and 40 seconds of speaking.
b. A presentation format with 20 slides shown for 20 seconds each.
Business Calculations - Aidan purchased a house for $375,000. He put $80,000 down on the house. Total finance charges over the course of the 15-year loan equal $283,435. What was Aidan's monthly payment?
A) $3,421.94
B) $3,856.23
C) $4,123.62
D) $3,213.53
D) $3,213.53
We have the following accounts: Accounts Receivable $20,000, Sales Revenue $40,000, Interest Expense $500, Depreciation Expense $5,000, Unearned Revenue $1,000, Cost of Goods Sold $10,000, Wages Expense $2,500. What is the amount of Expenses reported for the period?
A) $12,500
B) $18,000
C) $17,500
D) $5,500
B) $18,000