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Principles Of Business: Unit 6 Review
Test Description: Review over Credit, Investments, and Insurance
Instructions: Answer all questions to get your test result.
1) Common stockholders
A
have no right to share in a corporation’s profits.
B
receive dividends limited to a set rate.
C
have no voting rights within the corporation, as do preferred stockholders.
D
are paid dividends only after preferred stockholders are paid their dividends.
2) This type of charge account requires the buyer to make full payment within a stated period.
A
revolving charge account
B
budget charge account
C
sales charge account
D
signle payment account
3) Which of the following will NOT help you to establish a good record of creditworthiness?
A
having good school grades
B
making regular deposits to your savings account
C
changing jobs frequently
D
charging small purchases and paying on time
4) Simple interest =
A
P ´ R ´ T
B
P ´ T
C
P ´ R
D
S ´ R ´ T
5) Liability coverage pays for__________.
A
The accident related cost of repairing or replacing your vehicle
B
theft, fire, vandalism, or other damage not related to an accident
C
None of the above
D
Damage or injury for which you are responsible.
6) A higher deductible results in ________.
A
a lower premium
B
a higher premium
C
None of the above
D
tax savings
7) A maximum amount you are allowed to owe at one time on your credit account is called the
A
credit limit.
B
finance charge.
C
installment.
D
charge limit.
8) Which of the following is NOT one of the “three Cs of credit”?
A
creativity
B
capital
C
capacity
D
character
9) Which of the following is a disadvantage of using credit?
A
credit rating
B
immediate possession
C
overbuying
D
convenience
10) How do you find the Finance Charge?
A
None of the above
B
Installment Price - Interest
C
Cash Price - Installment Price
D
Installment Price - Cash Price
*select an answer for all questions
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