FBLA- intro to business procedure- Exam Questions With Revised Correct Detailed Answers Guaranteed Pass
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Course
FBLA INTRO TO BUSINESS COMMUNICATION
Institution
FBLA INTRO TO BUSINESS COMMUNICATION
FBLA- intro to business procedure-
Exam Questions With Revised
Correct Detailed Answers
Guaranteed Pass
1) Business interruption insurance covers
A) debts to suppliers.
B) lost income.
C) shoplifting.
D) defective products. - ANSWER
2) A pure risk:
A) is uncontrollable
B)...
FBLA- intro to business procedure-
Exam Questions With Revised
Correct Detailed Answers
Guaranteed Pass
1) Business interruption insurance covers
A) debts to suppliers.
B) lost income.
C) shoplifting.
D) defective products. - ANSWER B) lost income.
2) A pure risk:
A) is uncontrollable
B) offers no opportunity for gain
C) is speculative
D) is uninsurable - ANSWER B) offers no opportunity for gain
3) Two desirable features of _____________ are that members do not receive
bills and do not have to fill out claim forms.
A) health care accommodation companies (HCACs)
B) health maintenance organizations (HMOs)
C) traditional health insurance organizations
,D) preferred provider organizations (PPOs) - ANSWER B) health maintenance
organizations (HMOs)
4) Insurance companies know that autos decrease in value with age usually. The
value of a particular car is published for car dealers and insurance companies. This
is called the book value and if the damages exceed this value in an accident, the
insurance company will only pay the book value. When this happens, the car is
said to be _________ by the insurance company.
A) repaired
B) compensated
C) totaled
D) claimed - ANSWER C) totaled
5) Firestone and Ford recalled thousands of tires when several people died in
traffic accidents blamed on faulty tires. This is an example of which of the
following?
A) Reducing the risk
B) Avoiding the risk
C) Self-insuring against the risk
D) A loss-prevention program - ANSWER A) Reducing the risk
6) What is the tax called on goods and services that is collected by the seller and is
imposed by the state or local government?
A) excise tax
B) sales tax
C) property tax
,D) income tax - ANSWER B) sales tax
7) What is considered the largest source of revenue for the federal government?
A) estate and inheritance tax
B) excise tax
C) corporate income tax
D) individual income tax - ANSWER D) individual income tax
8) The ___ would protect a musician's latest musical hit.
A) patent
B) copyright
C) contract
D) trademark - ANSWER B) copyright
9) Social responsibility for a business does not include:
A) protecting the environment
B) diversity in the workplace
C) safety on the job
D) making a large profit to share with employees - ANSWER D) making a large
profit to share with employees
10) 1The rivalry among businesses to sell their goods and services is known as:
A) competition
B) free enterprise
, C) capitalism
D) entrepreneurship - ANSWER A) competition
11) Which one of the following is an example of the "opportunity cost" concept?
A) Sally deciding to join the basketball team instead of babysitting after school
B) Sean deciding to apply to Yale University
C) Stevesn and Molly working at McDonald's last summer
D) Seth earning 3 percent on his money market account last month - ANSWER
A) Sally deciding to join the basketball team instead of babysitting after school
12) 1When the market price of a good is below the equilibrium price:
A) a surplus will exist in the market
B) the quantity demanded will exceed the quantity supplied
C) the government will regulate the price of the good to ensure equilibrium is
attained
D) the supply curve will be to the right of the demand curve - ANSWER B) the
quantity demanded will exceed the quantity supplied
13) ____ tests electrical components of products from all over the world for fire
and electrical safety.
A) U.S. Product Safety Commission
B) Underwriters Laboratories
C) The Association of Home Appliance Manufacturers
D) Consumers Union - ANSWER B) Underwriters Laboratories
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