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BUSN 380 Week 1 Quiz Set 1 Click Here to Buy the Tutorial For more course tutorials visit

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. opportunity cost. the evaluation of alternatives. a decision-making process. a dilemma. 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. $2,000 $2,400 $10,000 $400 $10,800 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. Simple interest 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 accomplishment? "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 discounting. add-on interest. adding simple interest. compounding. an annuity. Question 12. Question : (TCO 1) Barb Hotchkins is in the 28% tax bracket. A taxexempt employee benefit with a value of $600 would have a tax-equivalent value of $678. $628. $833. $300. $168. 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. continuing education. dedication. cooperative education. a visionary outlook. Question 15. Question : (TCO 1) In the career planning process, after identifying specific job opportunities, a person should assess interests, abilities, and goals. evaluate job offers.

plan for career growth. evaluate the job market. develop a rĂŠsumĂŠ 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 $66,000. $52,000. $118,000. $14,000. $41,000. 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 _____. budget deficit. negative net worth budget surplus positive net worth net income 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 _____. semivariable current variable fixed budgeted

Busn 380 week 1 quiz set 1