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DECA Finance Exam
| Question | Answer |
|---|---|
| A financial institution fails to comply with an important government regulation. The financial institution will most likely A. pay a fine. B. get a better reputation. C. gain new business. D. avoid an audit. | pay a fine. |
| One benefit of using technology in compliance is that technology is typically more __________ than maintaining manual compliance processes. A. time-consuming B. costly C. efficient D. error-prone | efficient |
| Many nations have developed environmental regulations in order to encourage A. moral conduct. B. ethical behavior. C. conservation. D. industrialization. | conservation |
| Joan borrowed $10,000 from a relative to start her own business. Assuming she takes all responsibility for the company's financial risks, the company is most likely a A. sole proprietorship. B. limited partnership. C. corporation. D. partnership | sole proprietorship. |
| An individual or business can minimize capital losses on investment property by A. liquidating remaining assets. B. claiming the loss as a tax deduction. C. obtaining a long-term loan. D. renegotiating property insurance premiums. | claiming the loss as a tax deduction. |
| Which of the following statements about following directions is true: A. Most people don't need to ask questions about directions. B. Restating directions in your own words helps clarify them. C. Hearing directions is the same as listening to them. D. | Restating directions in your own words helps clarify them. |
| When giving verbal instructions, you should always A. avoid eye contact. B. give concrete examples. C. provide written directions. D. use as many steps as possible | give concrete examples. |
| To contribute to a discussion in a useful way, you should avoid A. blurting out statements without thinking. B. stating opinions and stick to the facts. C. talking about what's on your mind. D. paying attention when others are speaking | blurting out statements without thinking. |
| The business manager tried to write a promotional letter that was simple, clear, and interesting so that customers who received it would A. easily understand it. B. need to read it many times. C. find it entertaining. D. ask what it really meant. | easily understand it. |
| When writing an email to your coworkers, you should always A. use all capitals to get important points across. B. write “please” and “thank you” when necessary. C. make sure your message is as long as possible. D. put your main point in your last para | write “please” and “thank you” when necessary. |
| Communication among coworkers and supervisors should be A. an opportunity for feedback. B. an optional formality. C. contained in one meeting. D. saved for individual performance reviews. | an opportunity for feedback. |
| To participate effectively in a staff meeting, you should A. bring up any personal concerns so that they can be discussed with the group. B. read important documents and do research ahead of time so you're prepared. C. answer emails during slow points | read important documents and do research ahead of time so you're prepared. |
| The best way for businesses to communicate with customers is to A. listen respectfully. B. rent billboards on major highways. C. send direct mail. D. give as much information as possible. | listen respectfully. |
| . Which of the difficult customer types may become your best and most loyal customer, once they learn to trust you? A. Suspicious B. Dishonest C. Disagreeable D. Slow/Methodical | Suspicious |
| What question should finance professionals ask to provide the appropriate types and levels of service to their clients? A. How can I maximize my returns? B. Should I follow up with the clients? C. What are the client's expectations? D. Are my goals re | What are the client's expectations? |
| Customer Relationship Management (CRM) processes should support the basic steps of the __________ cycle. A. accounting B. customer life C. customer complaint D. business | customer life |
| The most environmentally friendly way for producers to respond to limited natural resources is by A. tapping the resources. B. conserving the resources. C. decreasing prices. D. increasing production. | conserving the resources. |
| What economic activity is necessary for consumption to occur? A. Financing B. Opportunity C. Production D. Management | Production |
| Unethical actions typically lead to an increase in A. financial risk. B. stock values. C. sales revenue. D. positive customer relations. | financial risk. |
| Which of the following is a business risk that can be covered by purchasing insurance: A. Competition B. Spoilage C. Robbery D. Economic conditions | robbery |
| Gary believes that the upper class should pay a higher income tax rate than the middle and lower classes. What tax structure does Gary favor? A. Progressive B. Regressive C. Proportional D. Exclusive | Progressive |
| The overall objective of workers who form labor unions is to A. strengthen their bargaining power. B. obtain reasonable working hours. C. promote better working conditions. D. obtain fair wages. | strengthen their bargaining power. |
| What often happens to businesses when interest rates rise? A. Consumer demand increases. B. Output decreases. C. Profits increase. D. Cost of goods decreases. | Output decreases. |
| Avoiding the use of slang falls under which guideline for dealing effectively with people from different cultures? A. Show respect. B. Strive to communicate clearly. C. Expect differences to arise. D. Be patient. | Strive to communicate clearly. |
| Cara hasn't met Joan, but she doesn't want to work with her. Cara believes that because Joan is an attractive blonde, she is probably dumb and won't do her share of the work. What does Cara need to learn about herself? A. Cara is a good judge of people | Cara stereotypes other people. |
| Which of the following is an action of a person who is fair: A. Gets her/his own way all the time B. Balances her/his needs with those of others C. Pursues vengeance D. Makes sure no one takes away her/his rights | Balances her/his needs with those of others |
| Which of the following is a question you should ask yourself when determining whether you're facing an ethical dilemma: A. Which choice sounds more enjoyable? B. Are ethical principles being violated? C. Is one decision more difficult? D. Could someon | Are ethical principles being violated? |
| Planning ahead and estimating the time it will take to complete your tasks will help you to A. manage your work commitments effectively. B. learn how to procrastinate. C. improve your technical skills. D. reduce your workload. | manage your work commitments effectively. |
| As a new employee, you receive constructive criticism about your job performance. This criticism is designed to A. show your lack of ability. B. improve your ability to do the job. C. hurt and discredit you. D. demonstrate the supervisor's superior j | improve your ability to do the job |
| In business, economic downturns and technological changes are likely to cause businesses to A. make changes of their own. B. hire unskilled workers. C. expand their operations. D. resist beneficial changes. | make changes of their own. |
| Which of the following types of behavior tries to improve the general quality of relationships: A. Independent B. Negative C. Aggressive D. Assertive | Asserive |
| Nasim is under a lot of stress, and she's finding it difficult to be enthusiastic about her job. Nasim isn't doing her best at work because she's dealing with A. endorphins. B. productivity. C. low morale. D. burnout | low morale |
| One of the direct benefits to individuals of being part of a team is that it can improve A. product quality. B. overall productivity. C. expense control. D. job satisfaction. | job satisfaction |
| Having a personal vision makes handling difficult decisions easier because you will A. be successful no matter what decision you make. B. be faced with tough decisions less frequently. C. have a clear picture of what your goals in life are. D. not nee | have a clear picture of what your goals in life are |
| Brittanie's coworker asks her a question about a software program. Brittanie isn't familiar with the program, so she can't answer the question. Brittanie has a A. prejudice. B. knowledge gap. C. viability problem. D. bias. | knowledge gap |
| Which of the following businesses best represents an innovative entrepreneurial endeavor: A. Developing a new wood-cutting device to sell B. Buying a small boutique coffee shop C. Opening a brand new sushi franchise D. Running a trendy online clothing | Developing a new wood-cutting device to sell |
| The yen, peso, and euro are types of A. bonds. B. money. C. stock. D. dollars. | money |
| When reconciling your check register, it is important to __________ your balance. A. subtract your earned interest from B. add your debit card transactions to C. subtract all applicable fees from D. add ATM withdrawals to | subtract all applicable fees from |
| Which of the following are examples of deposit-taking financial institutions: A. Commercial banks, corporations, and mutual savings banks B. Credit unions, savings and loan associations, and commercial banks C. Savings and loan associations, mutual sav | credit unions |
| Which of the following securities is most likely to be bought and sold on a money market: A. Short-term equity securities B. Long-term debt securities C. Short-term debt securities D. Long-term equity securities | Short-term debt securities |
| Convergence and consolidation in the finance industry have resulted in a(n) A. more accurate picture of financial firms' financial condition. B. highly compartmentalized finance industry. C. one-stop shopping environment for consumers. D. single super | one-stop shopping environment for consumers. |
| Stocks in which of the following industry sectors are least likely to be affected by changes in the business cycle: A. Healthcare B. Energy C. Technology D. Capital goods | Healthcare |
| Which of the following is most likely to have a negative effect on financial markets: A. Interest rates fluctuate daily. B. Business expansion slows quickly. C. Unemployment rates stabilize steadily. D. Consumer spending increases consistently. | Business expansion slows quickly. |
| In the past 20 years, Country X has reformed its trade policies and currency exchange rate system. As a result, foreign investment is increasing, and the country's business activity and gross domestic product is rapidly growing. This is an example of a(n) | Emerging market economy |
| What is an example of an internal stock information resource? A. The Value Line Investment Survey® B. A company's annual report C. Brokerage firm research D. A financial website portal | A company's annual report |
| If Kayla wants to obtain the most current pricing for various stocks, she should A. review a business's annual report. B. pick up a business-oriented newspaper. C. log onto the “About Us” section of a business's website. D. access a financial website. | access a financial website. |
| Businesses usually invest in A. themselves. B. bonds. C. stocks. D. real estate. | themselves |
| During its 20 years of operation, the Normandy Company has made very few changes to its accounting methods and system. As a result, the company's financial information is likely to be very A. reliable. B. comparable. C. consistent. D. conservative. | consistent |
| What activity does accounting software help businesses do? A. Track credit transactions B. Place orders for raw materials C. Create and play AV media D. Create virtual situations | Track credit transactions |
| Which of the following is one of the main components of an income statement: A. Assets B. Revenue C. Taxes D. Liabilities | Revenue |
| When preparing a statement of equity, what does a business deduct from its total net income to obtain its retained earnings? A. Dividends paid B. Depreciation of assets C. Sales tax payable D. Bad debt | Dividends paid |
| One disadvantage of marginal analysis is that it does not account for: A. outsourcing. B. sunk costs. C. qualitative factors. D. labor costs. | qualitative forces |
| The primary purpose of managerial accounting is to provide accurate data about a business's activities that help internal users A. control external factors. B. make informed decisions. C. obtain necessary loans. D. understand corporate policies. | make informed decisions |
| A company purchases an expensive new software system and divides the cost of it between the two departments that will use the system. This is an example of cost A. dividing. B. accumulation. C. allocation. D. precision. | allocation |
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dhruvee_patel