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SDI FTT 240 Exam Questions Solved 100% Correct |Verified Answers
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SDI FTT 240 Exam Questions Solved 100% Correct |Verified Answers
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SDI FTT 240 Exam Questions Solved 100% Correct|Verified Answers
True - Answer T/F: A person may sell a firearm to an unlicensed resident of his state, if
he does not know or have reasonable cause to believe the person is prohibited from
receiving or possessing firearms under federal law.
Duty Weapon - Answer With sales to law enforcement officers, the most important
thing to remember is that this exemption only applies to which of the following:
True - Answer T/F: The minimum age to obtain a firearm is 18.
False - Answer T/F: There is sometimes a fine line between gunsmithing and
manufacturing. If you are modifying a firearm to prepare it for sale, generally speaking,
you are gunsmithing.
cash flow - Answer Cash that comes in and out of a business is called which of the
following:
Sole Proprietorship - Answer The simplest business entity is which of the following:
Partnership - Answer An association of two or more people who run a business for profit
is called which of the following:
, Limited Liability Company - Answer A unique business structure that combines features
from both the corporation and partnership models, while providing businesses with
several taxation and management options is called which of the following:
Start-Up Costs - Answer The one time costs a new business owner can expect to incur
are called which of the following:
Worker's Compensation Insurance - Answer The typical business insurance coverage
needed includes Comprehensive Liability Coverage, Fire and Interruption-of-Service
Insurance, Burglary Insurance, and which of the following:
Corporation - Answer A commonly misunderstood business structure, which may be
complicated and expensive to set up, and has many reporting requirements, is which of
the following:
Self-Financing - Answer The course text lists the following options for financing a new
business include: Borrowing From a Bank, Borrowing From Family and Friends, Using
Credit Cards, and _______:
County Clerk's Office - Answer Once you decide on a name, register it with which of the
following:
Zoning Permit - Answer When starting a business you need to check for Business
Licenses, State Licensing, Seller's Permit, and which of the following:
Carrying Out the Plan - Answer Marketing involves a plan to make people aware of your
business. In contrast, advertising is which of the following:
False - Answer T/F: Classified ads do not work well for many small businesses.
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