Exam (elaborations)

FBLA Business Calculations Exam Questions and Correct Answers (All are Correct) A Graded

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FBLA Business Calculations

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FBLA Business Calculations

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Uploaded on October 26, 2024
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Type Exam (elaborations)
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fbla business calculations
fbla business calculations exam questions

Institution FBLA Business Calculations
Course FBLA Business Calculations

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FBLA Business Calculations Exam
Questions and Correct Answers
(All are Correct) A Graded

In buying health insurance,you have four options: A-$250 per month plus $75 per doctor
visit; B-$200 per month plus $100 per doctor visit; C-$350 per month with unlimited free
doctor visits; and D-$175 per month plus $150 per doctor visit. If you have two doctor
visits next year, which is the least costly option?
A. D Should be correct answer
B.C
C.B
D.A - Answer- A. D Should be correct answer

Suzanne is considering $250,000 business loan. The first option is an 8 7/8 percent
ordinary interest loan. The second option is 8 7/8 percent exact interest loan. She
expects to repay the loan in 120 days. Comparing the ordinary interest costs to the
exact interest costs, Suzanne will pay how much,more or less?
A. $79.16 less
B.$101.31 less
C.179.40 more
D.$101.31 more - Answer- D.$101.31 more

If you borrow $700 at 5%, how much interest will you pay in two years?
A.$50
B.$35
C.$70
D.$20 - Answer- C.$70

Find the amount of interest on a $140,000 loan at 9.6 percent interest for 36 months
A.$161,280
B.$13,400
C.$40,320
D.$483,840 - Answer- C.$40,320

The document that states the details of a loan is called the:
A.loan
B.promissory note
C.note

,D.mortgage - Answer- B.promissory note

The effective interest rate of a simple discount note compared to the stated discount
rate is:
A. higher
B.the same as
C.synonymous
D.lower - Answer- A. higher

What is the due date for a 90 day note dated August 13?
A. November 12
B.November 11
C.November 9
D.November 10 - Answer- B.November 11

If one year's amount of interest is $120, what is seven months' worth of interest?
A.$53.27
B.$49.31
C.$70.00
D.$25.71 - Answer- C.$70.00

A $6000 note at a 12% discount rate for 270 days will yield proceeds of:
A. $540
B.$6540
C.$720
D.$5460 - Answer- D.$5460

The concept that money now is more valuable than the same amount in the future is:
A. time value of money
B. inflation
C. cash is king
D.deflation - Answer- A. time value of money

Most of the information in your credit file may be reported for only _____ years.
A.9
B.7
C.15
D.11 - Answer- B.7

Inventory turnover rate is:
A. purchases less sales
B. net sales times average inventory
C. beginning inventory minus ending inventory
D. net sales divided by average inventory at retail - Answer- D. net sales divided by
average inventory at retail

, Which is not a cost method of inventory valuation?
A. FIFO
B. average cost
C. LIFO
D. declining balance - Answer- D. declining balance

The P/E is the:
A. stock's current price divided by the current earnings
B. current price of a stock divided by the earnings when you bought it
C. price you paid for a stock divided by the current earnings
D. price you paid for a stock divided by the earnings when you bought it - Answer- A.
stock's current price divided by the current earnings

Risk is defined as:
A. the fact that you'll lose money in a investment
B. the chance you take that you'll lose money in an investment
C. the fact that you'll make money in an investment
D. the chance you take to either make or lose money in an investment - Answer- D. the
chance you take to either make or lose money in an investment

Yield is:
A. the percentage of the stock price compared to the dividend
B. the price of a stock
C. the dividend of a stock
D. the percentage of the dividend compared to the stock price - Answer- D. the
percentage of the dividend compared to the stock price

A $1,000 CD earns 3% interest with an annual service charge fee of $2, What's the
yield?
A. 2.8%
B. 30%
C. 3.0%
D. 28% - Answer- A. 2.8%

P/E is:
A. a stock's earnings divided by the price
B. the ratio of a stock's price to its earning
C. the dividend of a stock
D. the price times earnings of a stock - Answer- B. the ratio of a stock's price to its
earning

Using the Rule of 72, how many years will it take for a $1,000 investment at 6% to
double? A. 10
B. 18
C. 15
D.12 - Answer- D.12

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Exam (elaborations) ·

Exam (elaborations)

FBLA Business Calculations Exam Questions and Correct Answers (All are Correct) A Graded

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