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Business 5.01 B 10 Questions
Test Description: 5.01 Principles of Business and Finance
Instructions: Answer all questions to get your test result.
1) Walden Book Store obtained information about Ann's reputation for paying her bills. Which factor examined by creditors did the store receive?
A
Credit report
B
Credit application
C
Statement of account
D
Receipts
2) A Sears Department Store sales associate gave a customer a form to complete in order to apply for a credit card. Which factor examined by creditors did the customer receive?
A
Documentation of credit data
B
Credit bureau credit report
C
Three C's of credit
D
Credit application
3) Which is an example of a service provided by a credit bureau?
A
Credit counseling for customers
B
Credit applications to applicants
C
Credit reports to other businesses
D
Statement of accounts to customers
4) Josh maintained minimum living expenses while working on his job for the past six years. Which "C" of credit is he MOST LIKELY to meet?
A
Capital
B
Capacity
C
Contract
D
Character
5) Jenny has the option of borrowing $300 at a 3% interest rate. Which loan option would cost her the most money?
A
Option 4: loan for 1 year
B
Option 3: loan for 6 months
C
Option 2: loan for 3 months
D
Option 1: loan for 2 months
6) What is the interest amount for the following loan: $10,000 car loan for 5 years at 8% interest rate?
A
$5,000
B
$400
C
$3,000
D
$4,000
7) Ted issued credit cards to his employees so they could charge work products. Which advantage is Ted MOST LIKELY to accomplish by viewing the monthly credit card statement
A
Monitor theft of customer records/database
B
Keep track of spending
C
Establish favorable credit rating
D
Earn rewards
8) what is the maturity date for a loan made on February 1 and due in 15 days?
A
February 16
B
February 12
C
Febraury 28
D
February 28
9) what is the maturity date for a loan made on April 24 and due in 60 days?
A
June 30
B
July 1
C
June 22
D
June 23
10) A bank loaned Doug $4,500 for 24 months. Which type of credit did he accept?
A
Credit card
B
Installment credit
C
Consumer loan
D
Charge account
*select an answer for all questions
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