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Semester Exam 2 REVIEW - Part 3
Test Description: Semester Exam
Instructions: Answer all questions to get your test result.
1) Employees who assist customers, take orders, and answer questions that come into the company via phone or website are called the _____.
A
sales team
B
customer support team
C
phone group
D
order department
2) Information and resources available to customers through the Internet is _____.
A
sales and service
B
web department
C
feature-benefit selling
D
online support
3) A _____ is the exchange of payment and product.
A
selling process
B
charged expense
C
barter exchange
D
transaction
4) Verbal or nonverbal signs that a customer is ready to purchase are called _____.
A
buying signals
B
sales indications
C
ergonomics
D
sales signs
5) A _____ is a type of financial investment issued by a corporation, government, or other organization.
A
security
B
loan
C
banknote
D
financial exchange
6) As a function of money, _____ means that money is a common measure of the worth or price of a good or service.
A
monetary system
B
banknote
C
store of value
D
unit of value
7) As a property of money, _____ means that money must maintain its value over time in order to be widely accepted.
A
recognized
B
portable
C
stable
D
durable
8) The process of transferring money from one individual or organization to another is _____.
A
financial exchange
B
monetary policy
C
financial services
D
medium of exchange
9) A(n) _____ is an example of a nondepository financial institution.
A
credit union
B
commercial bank
C
insurance company
D
mutual savings bank
10) The mechanism a nations uses to provide and manage money for itself is called a(n) _____.
A
inventory system
B
banking system
C
financial system
D
monetary system
11) A prearranged amount of credit that is available for a business to use as needed is a _____.
A
treasury note
B
line of credit
C
bond
D
letter of credit
12) A process used by individuals to manage limited income to meet personal unlimited needs and wants is called _____.
A
personal financial management
B
money decisions
C
wealth management
D
want management
13) _____ is income received from employment or from self-employment,
A
Annual revenue
B
Minimum wage
C
Overtime wage
D
Earned income
14) A person who has the ability to understand basic topics related to finance is _____.
A
business savvy
B
accounting capable
C
financially capable
D
investment savvy
15) An expense that is equal in amount each budget period is a(n) _____.
A
standard deduction
B
fixed expense
C
variable expense
D
annuity
16) The difference between a budgeted dollar amount and the actual dollar amount is a(n) _____.
A
profit
B
expense
C
variance
D
income
17) An expense that can go up and down during the budget period is a(n) _____.
A
fixed expense
B
allowance
C
variable expense
D
exemption
18) An amount that a taxpayer can claim for each person who is dependent on that person's income is a(n) _____.
A
standard deduction
B
allowance
C
exemption
D
itemized deduction
19) Tax returns must be filed no later than _____ each year.
A
June 1st
B
January 15th
C
April 15th
D
December 31st
20) Taxes paid by the employee and the employer that are used to finance the federal Social Security and Medicare programs are _____ taxes.
A
net
B
W-4
C
deduction
D
FICA
*select an answer for all questions
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