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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
receive dividends limited to a set rate.
B
are paid dividends only after preferred stockholders are paid their dividends.
C
have no right to share in a corporation’s profits.
D
have no voting rights within the corporation, as do preferred stockholders.
2) This type of charge account requires the buyer to make full payment within a stated period.
A
signle payment account
B
revolving charge account
C
budget charge account
D
sales charge account
3) Which of the following will NOT help you to establish a good record of creditworthiness?
A
charging small purchases and paying on time
B
making regular deposits to your savings account
C
having good school grades
D
changing jobs frequently
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
Damage or injury for which you are responsible.
D
None of the above
6) A higher deductible results in ________.
A
tax savings
B
a higher premium
C
a lower premium
D
None of the above
7) A maximum amount you are allowed to owe at one time on your credit account is called the
A
charge limit.
B
installment.
C
credit limit.
D
finance charge.
8) Which of the following is NOT one of the “three Cs of credit”?
A
capacity
B
character
C
capital
D
creativity
9) Which of the following is a disadvantage of using credit?
A
convenience
B
immediate possession
C
overbuying
D
credit rating
10) How do you find the Finance Charge?
A
Installment Price - Cash Price
B
Cash Price - Installment Price
C
None of the above
D
Installment Price - Interest
*select an answer for all questions
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