Practice Test Part 1

Front 1

A command economy is characterized by?

Back 1

the government controlling prices and production

Front 2

Which of the following is not a responsibility of the Securities and Exchange Commission (SEC)?

Back 2

setting interest rates

Front 3

in marketing, the demand for a product is directly influenced by?

Back 3

Both A & B

Front 4

The Sarbanes-Oxley Act of 2002:

Back 4

Was intended to fight corporate and accounting fraud

Front 5

A market in which product availability exceeds demand is called a:

Back 5

Buyer's market

Front 6

Which of the following is NOT a part of Maslow's hierarchy of needs?

Back 6

Supply and demand

Front 7

Which of the following countries is not part of NAFTA?

Back 7

China

Front 8

A consumers credit score is directly influenced by which of the following factors?

Back 8

Debt repayment history

Front 9

Upon which organization does the international community primarily rely to deal with claims of unfair protectionism by one country against another?

Back 9

World Trade Organization (WTO)

Front 10

A homeowner is attempting to choose between several mortgage loans for a 200,000 home. Which of the following would have the lowest monthly payment?

Back 10

A 30-year fixed rate mortgage at 6%

Front 11

the biggest factor that leads American companies to manufacture their products overseas in developing countries like China and India is?

Back 11

Lower labor costs

Front 12

Which of the following correctly summarizes the accounting equation for a sole proprietorship?

Back 12

Assets = Liabilities + Owner's equity

Front 13

In order to present a business plan to a group of potential investors, a businessperson would most likely use which software?

Back 13

Powerpoint

Front 14

In order to start an online business, and individual would need all but which of the following?

Back 14

A fax machine

Front 15

Which of the following types of assets would not be subject to depreciation?

Back 15

Real estate

Front 16

When itemizing deductions on a federal tax return, an individual taxpayer may be able to deduct all but which of the following?

Back 16

Groceries

Front 17

Which of the following terms best describes a situation where an individual enters into an agreement with a company...

Back 17

Franchise

Front 18

The party value of a bond is the

Back 18

Amount paid when the bond matures

Front 19

Which of the following best describes Congress purpose in setting up Freddie Mac in 1970?

Back 19

Expanding opportunities for home ownership

Front 20

Which of the following countries would be considered an emerging market?

Back 20

India