BUSN 380 Week 1 Quiz Set 1
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BUSN 380 Week 1 Quiz Set 1
Question 1. Question : (TCO 1) When a person faces a trade-off and must give up something by making a choice,
this is referred to as
taking out a loan.
the evaluation of alternatives.
a decision-making process.
Question 2. Question : (TCO 1) In financial planning, a major activity component involves the
allocation of current resources for spending.
evaluation of investment alternatives.
evaluation of one's career.
selection of insurance coverage.
establishment of credit.
Question 3. Question : (TCO 1) The Federal Reserve has the responsibility to
monitor illegal business activities.
approve spending by Congress.
set federal income tax rates.
maintain an adequate supply of money.
maintain a balanced budget for the federal government.
Question 4. Question : (TCO 1) Loan risk can increase with _____.
constant interest rates
a short time to maturity
lower consumer prices
rising consumer prices
a good credit rating
Question 5. Question : (TCO 1) The future value of an account in which $2,000 is deposited each year for 5
years, and which earns 4%, is approximately _____ after 5 years.
Question 6. Question : (TCO 1) Higher employment levels can be attributed to
lower consumer prices.
reduced employment levels.
lower interest rates.
higher employment levels.
increased consumer spending.
Question 7. Question : (TCO 1) When it comes to the financial planning process, the first step is to
develop financial goals.
implement the financial plan.
evaluate and revise your actions.
analyze your current personal and financial situation.
create a financial plan of action.
Question 8. Question : (TCO 1) If a person wants to determine the current value of a desired amount for the
future, the following computation would be used.
Present value of a single amount
Future value of a series of deposits
Future value of a single amount
Present value of a series of deposits
Question 9. Question : (TCO 1) Which goal below would be the easiest to implement and measure in terms of
"Reduce our debt payments."
Save $100 a month to create a $4,000 emergency fund."
"Save funds for an annual vacation."
"Invest $2,000 a year for retirement."
Question 10. Question : (TCO 1) _____ risk refers to the changing cost of money.
Monetary Inflation Economic Personal Interest rate
Question 11. Question : (TCO 1) Calculating future value investing problems involves the process of
adding simple interest.
Question 12. Question : (TCO 1) Barb Hotchkins is in the 28% tax bracket. A tax-exempt employee benefit with a
value of $600 would have a tax-equivalent value of
Question 13. Question : (TCO 1) Personal financial statements would include
budget and credit card statements.
income tax forms and a cash flow statement.
a checkbook and a budget.
a balance sheet and a cash flow statement.
a bank statement and a savings passbook.
Question 14. Question : (TCO 1) When a person demonstrates efficient work habits in the workplace, this is referred to as
an employee's initiative.
a visionary outlook.
Question 15. Question : (TCO 1) In the career planning process, after identifying specific job opportunities, a
assess interests, abilities, and goals.
evaluate job offers.
plan for career growth.
evaluate the job market.
develop a résumé and cover letter.
Question 16. Question : (TCO 1) Which of the following would be a competency commonly associated with successful people?
An ability to work well with others in a variety of settings
A desire to do tasks better than they have to be done
An ability to solve problems creatively in team settings
Well-developed written and oral communication skills
All of the above
Question 17. Question : (TCO 1) A family with $66,000 in assets and $52,000 of liabilities would have a net worth of
Question 18. Question : (TCO 1) Personal balance sheets can be used to analyze
future income and expenses.
the net worth of an organization.
the cash flow of an individual or a family.
debt payment activities.
what an individual or family owes and owns.
Question 19. Question : (TCO 1) When a person's actual expenses are less than planned expenses, this means that a person or family has a _____.
negative net worth
positive net worth
Question 20. Question : (TCO 1) If a person has a payment that does not vary from month to month, then this type
of payment is _____.
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