What are the five (5) factors that affect your credit score?

payment history, credit utilization, credit length, credit mix, new credit

Which statement BEST describes what surplus is?

limited wants with unlimited resources

rise in the cost of goods and services over time

What is the correct order of steps in composing an effective email from a company to a vendor?

New email, complete heading information, construct message, proofread, send

Which statement best describes what ‘scarcity’ is?

unlimited wants with limited resources

What is the definition of accounts payable?

money owed by a company to its creditors

designing environments and products to match the individuals who use them

What does SWOT stand for?

strength, weaknesses, opportunity, and threats

What is a money market account?

a type of account that pays a higher interest rate than a savings account

Which of the following activities would be a task for supervisory management?

supervise employees who carry out tasks determined by middle and top mgmt.

What is a GANTT chart?

a chart shows you what has to be done (activities) and when (the schedule)

What is standard of living?

the minimum necessities, comforts, or luxuries thought to be essential

Which of the following is the definition of "channel of communication"?

the means by which a message is conveyed

What is a good example of information utility?

the instructions on a product's packaging

Which of the following best describes a “bond”?

a debt promised to be paid back over time plus interest

What does SMART stand for?

Specific, Measurable, Achievable, Realistic, Timebound

What are some of the best ways to develop Market Share?

lower prices and create more brand awareness

What is a financial goal?

a specific objective to be accomplished by financial planning

Which type of business ownership is the business owner 100% liable for paying any fines or debts the business incurs?

Sole Proprietorhip & Partnership

What is the definition of accounts receivable?

money owed to a company by its debtors

What assets can be used as collateral to secure a loan?

houses, cars, stocks, bonds, cash

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TSA Review 1

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Questions 97

Answers

1
What are the five (5) factors that affect your credit score?
payment history, not using, short time of credit, single type of credit use
pay check, using Credit cards, length of work, credit type, old credit
payment history, negative credit, length, credit mix, new and old credit
payment history, credit utilization, credit length, credit mix, new credit
2
What is the market segmentation that groups customers by city, state, zip code and other physical location variabl
Behavorial
Psychographic
Geographic
Demographic
3
Which statement BEST describes what surplus is?
limited wants with limited resources
limited wants with unlimited resources
unlimited wants with limited resources
unlimited wants with unlimited resources
4
What is the financial statement that provides aggregate data regarding all cash inflows a company receives?
Profit Statement
Balance Sheet
Cash Flow Statement
Income Statement
5
What business management structure is more focused on skill and less on management hierarchy?
vertical management
horizontal management
top-down management
military management
6
What is the customer segmentation that focuses on habits, hobbies, interests, personalities, and lifestyle?
Geographic
Behavioral
Psychographic
Demographic
7
Which type of management style asks for employee input?
Bureaucratic style
Laissez-faire style
Autocratic style
Democratic style
8
What is an investment that pools the money of many individual investors to buy a diversified portfolio of securities?
Mutual Funds
Real Estate
Bonds
Investments
9
In which financial document would you record a loan of $100,000?
Cash Flow Statement
Income Statement
Profit Statement
Balance Sheet
10
Which two taxes are used to create FICA?
Federal and Social Security
Federal and State
Social Security and Medicare
Medicare and State
11
What is inflation?
return on investment expressed as a percentage of amount of money invested
total return on an investment
rise in the cost of goods and services over time
the uncertainty regarding the outcome of a situation or event
12
What type of business ownership is owned by two or more people?
Partnership
Sole Proprietorship
Corporation
Entrepreneur
13
Which element should NOT be included in a marketing plan?
Product mix
Strategic direction
Staffing chart
Target consumers
14
What is the correct order of steps in composing an effective email from a company to a vendor?
New email, complete heading information, construct message, proofread, send
New email, add recipient address, list email subject, construct message
Open new email, complete heading information, construct message, send
Open new email, construct message, list email subject, send
15
Which statement best describes what ‘scarcity’ is?
limited wants with unlimited resources
unlimited wants with limited resources
limited wants with limited resources
unlimited wants with unlimited resources
16
What is the impact of an ergonomic workplace on the productivity of the workforce?
Unmeasurable
No impact
Increases
Decreases
17
Which of the following is NOT a type of interview?
Computer interview
Stress interview
One on one interview
Audition
18
According to the law of demand, what happens when the price for a good or service decreases?
Quantity demanded increases
Demand decreases
Quantity demanded decreases
Supply decreases
19
What is the definition of accounts payable?
money owed by a company to its employees
money owed by a company to its customers
money owed by a company to its IRS
money owed by a company to its creditors
20
A number between 300-850 that depicts a consumer’s creditworthiness.
debit card
credit score
credit card
loan
21
Which management style takes control of a situation and very rarely listens to the people they are managing?
Coach style manager
Pace setting manager
Participative manager
Authoritative manager
22
Which of the following are all examples of wants?
water, home, and sleep
water, food, and shelter
school, sleep, and water
candies, vacation, and gifts
23
What is ergonomics?
work-related musculoskeletal disorders
designing environments and products to match the individuals who use them
insurance providing wage replacement and medical benefits injured workers
quality, state or fact of being able to generate, create, bring forth goods
24
What does SWOT stand for?
shortness, wiliness, opportunity, and threats
strength, weaknesses, opportunity, and threats
shelter, weaknesses, ordinary, and threats
strength, weakling, opposition, and treat
25
Where does the accounts receivable appear on the balance sheet?
Current assets
Equity
Net worth
Current liabilities
26
What is a money market account?
money you lose
a type of account that pays a higher interest rate than a savings account
the amount of money you deposit in your account to begin saving
an account with a financial institution
27
What kind of product is a product you can touch?
Good
Tangible
Intangible
Service
28
What does “GDP” stand for in terms of economics?
Gross Domestic Problems
Gross Direct Products
Gross Domestic Product
Gaining Direct Power
29
Which negative element does NOT impact credit history?
High debt to income ratio
Late payments
High credit balances
Limited savings
30
Which of the following activities would be a task for supervisory management?
supervise managers
manage people and structure of the company
supervise employees who carry out tasks determined by middle and top mgmt.
implements decisions of top management
31
What is a GANTT chart?
a chart that shows how much money is spent on project
a chart that shows what skills needed and the time to use those skills
a chart to shows which supplies are needed and when
a chart shows you what has to be done (activities) and when (the schedule)
32
What is standard of living?
unnecessary but desired items which increase the quality of living
overall state of being happy healthy, and prosperous
a necessity or an essential item required for life
the minimum necessities, comforts, or luxuries thought to be essential
33
In which financial document would you record the money earned from selling 200 hotdogs?
Income Statement
Balance Sheet
Cash Flow Statement
Profit Statement
34
Which of the following is the definition of "channel of communication"?
the means by which verbal message is conveyed
the means by which electronic communication is conveyed
the means by which a message is conveyed
the means by which non-verbal communication is conveyed
35
What type of leader is hands-off and does not make any important decisions?
laissez-faire
authoritarian
delegative
support
36
What is a good example of information utility?
the instructions on a product's packaging
the origin story of a brand
the website of the Better Business Bureau
the lecture hall of a major university
37
What do product, price, promotion, and place all contribute to?
Demographic
Market strategy
Market segmentation
Marketing mix
38
Which of the following best describes a “bond”?
someone else's debt that is promised to be paid back plus interest
a debt promised to be paid back over time plus interest
company's debt that you buy in the stock market and hope to make money
a share or part ownership of a company
39
Which leadership style is the exact opposite of an autocratic leadership style?
Stategic
Laissez-faire
Democratic
Autocratic
40
What is your income minus government taxes that are withheld?
a. nontaxable income
a. taxable income
a. net income
a. gross income
41
Which information is LEAST likely to be considered when formulating a project plan?
Project budget
Personal financial statements
Risks involved to organize the project
Timeline of the project
42
What does SMART stand for?
Specific, Measurable, Achievable, Realistic, Timebound
Specific, Measurable, Attention, Rational, Timely
Scientific, Marketable, Attainable, Realistic, Timebound
Scouting, Measurable, Achievable, Reliable, Timely
43
What are some of the best ways to develop Market Share?
run negative ads about your competitors
come up with a new product
lower prices and create more brand awareness
charge less than it costs you to make the product.
44
What are forecasting and evaluating financial risk in a business an example of?
Financial forcasting
Legal evaluation
Risk Management
Financial Management
45
What is a financial goal?
a specific objective to be accomplished by financial planning
a specific goal accomplished in a week
a specific goal accomplished in less than a year
a specific goal accomplished in 2 years
46
Assets, liabilities, and owner's equity are three main parts of what financial document?
Cash flow statement
Income statement
Balance sheet
Owner's equity statement
47
Which type of business ownership is the business owner 100% liable for paying any fines or debts the business incurs?
Partnership
Sole Proprietorhip & Partnership
Corporation
Solde Proprietorship
48
1. What does B2C mean?
Business to commerce
Buying to customer
Business to consumer
Buying to consuming
49
What is the definition of accounts receivable?
money owed to a company by its owners
money owed to a company by its vendors
money owed to a company by its debtors
money owed to a company by its suppliers
50
Jim's total earnings are $1,479.00. If the Social Security tax rate is 6.2%, what is her Social Security tax deduction?
$916.98
$91.70
$1,485.20
$62.70
51
What assets can be used as collateral to secure a loan?
livestock, coins, 401K, IRA account, checks
checking, saving bond, cash on hand
gifts, money market, business loans
houses, cars, stocks, bonds, cash
52
What is the ownership of land including the buildings and resources located on the land?
Bonds
Mutual Funds
Investments
Real Estate
53
What type of financial document is also known as a “profit and loss statement”?
Profit Statement
Income Statement
Balance Sheet
Cash Flow Statement
54
What does FICO mean?
Fair Incentive Core
Fair Inclusive cash
Fair Isaac Corporation
Fair Income Criteria
55
Which of the following is the correct square footage for a room measuring 12’ x 10’?
100 square feet
144 square feet
120 square feet
132 square feet
56
What is a short-term goal?
a goal accomplished in 3 years
a goal accomplished in more than 5 years
a specific goal accomplished in less than a year
a goal accomplished in 2 years
57
What is the purpose of a PERT chart?
chart to provide information and forecast the tasks and timelines
visual project management tool used to map out and track tasks and timeline
An audio project management tool used track the failed tasks and timelines
graph for project management used to track errors and outlier for a project
58
What is principal?
the amount of money you deposit in your account to begin saving
take money out of account
to lose money
to double your money
59
What does it mean to make a withdrawal?
take money out of account
to double your money
to lose money
to give a gift
60
What term is used to describe the market segmentation that groups customers by age and gender?
Demographic
Psychographic
Geographic
Behavioral
61
What is the ability of one trading nation to make a product at a lower opportunity cost than another nation known as?
Comparative advantage
Absolute advantage
The uneven distribution of production factors
Opportunity Cost
62
To have a commercial for your business is which P in the four P’s of marketing?
Price
Place
Product
Promotion
63
What is the gross pay for an employee who worked 80 hours at $10 per hour and pays $80 in taxes?
$810
$780
$720
$800
64
If you were to ask "How can I make it easier for customers to find my products?" what marketing mix element is this?
Promotion
Product
Price
Place
65
If the GDP in America is trending downward, what can we predict will happen to the unemployment rate?
the unemployment rate will rise
the unemployment rate will rise and then fall
the unemployment rate will stay the same
the unemployment rate will fall
66
Which of the following interview methods would be the best method for hiring an actor?
Stress interview
Telephone interview
Audition
One on one interview
67
How does possession utility affect the buying decision?
it allows customers the opportunity to consider the purchase
it allows a customer to take home a product now
it allows customers time to save for a future purchase
it allows customers the opportunity to convert possession to a third party
68
What business management structure has a "chain of command" where you report to the manager above you?
cross section management
vertical management
horizonatal management
top-down management
69
What does the Bureau of Labor Statistics use to measure inflation?
Unemployment rate
GDP
GDP per capita
CPI
70
What is interest?
the amount of money you deposit in your account to begin saving
money the bank pays you for leaving it in your savings account
an account that is saved for your child’s college
a type of account where you can only use half of your money
71
What department is normally responsible for a company’s onboarding and getting new employees adjusted to the workplace?
Finance
Teamwork
Human Resources
Marketing
72
What is a long-term goal?
a goal accomplished the same day
a goal accomplished in a week
a goal accomplished in more than one year
a goal accomplished in one week
73
What is a characteristic of an autocratic leader?
takes orders from employees
lets employees do whatever they think is best
gives orders to employees
asks for employees’ input
74
Where does the accounts payable appear on the balance sheet?
Net worth
Current assets
Equity
Current liabilities
75
What does intellectual property mean?
You own the idea
You own the product
Youe own the good
You own the distribution
76
Which program is a spreadsheet program used to create grids of text, numbers, and formulas?
Excel
PowerPoint
Outlook
Word
77
What are the three (3) main types of credit?
travel rewards, balance transfer, secured credit card
student loans, car loans, department credit cards
revolving, installment, open account
credit cards, home equity line of credit, personal loan
78
What are the five functions of management?
planning, organizing, staffing, selling, and controlling
planning, organizing, staffing, leading, and controlling
planning, staffing, leading, managing, and controlling
planning, staffing, leading, performing, and controlling
79
Which term is used to describe a person that organizes and operates a business and assumes the risks of the business?
Manager
Buyer
Entrepreneur
Employee
80
Setting a goal to raise $100,000 in donations for the fundraiser is an example of which component of the SMART goals?
Measurable
Realistic
Specific
Time-bound
81
What term is used to describe the amount of wages that an employee takes home or deposits in a bank account?
Gross pay
Paycheck
Payment
Net pay
82
What are the four (4) types of management styles?
autocratic, bureaucratic, democratic, free will
autocorrect, bureaucracy, dictatorship, laissez-faire
parliamentary, dictatorship, democratic, laissez-faire
autocratic, bureaucratic, democratic, laissez-faire
83
What does OSHA mean?
Occupational Safety Health Administrators
Ongoing Safe Home Administrators
Operational Sound Home Administrators
Occupational Sheet Heal Administrators
84
Which of the following would involve paying tariffs?
Employing new workers
Trading across borders
Registering real property
Enforcing construction contracts
85
What are the Marketing P's?
Product, Price, Promotion, and Particle
Product, Performance, Promotion, and Paper
Product, Performance, Promotion, and Place
Product, Price, Promotion, and Place
86
Which of the following is NOT a factor of production?
Land
Capital
Labor
Production possibliites curves
87
In marketing terms, what is utility?
water, power, and trash
decreased value
relative value
added value
88
Which of the following is discrimination?
process of attracting appropriate applicants for an organization’s jobs
to hire you for good attitude
to give you a raise based on your evaluation
denial of opportunities to individuals on the basis of some characteristic
89
What is the market segmentation that groups customer by their digital footprint and customer loyalty?
Behavioral
Demographic
Psychorgraphic
Geographic
90
Which is NOT an example of a need?
Shelter
Food
Money
Concert tickets
91
What is the process of dividing a market of potential customers into groups?
Market split
Market segmentation
Marketing
Market divide
92
What type of manager is encouraging, helpful and works with their employees to reach their goal?
Participative manager
Authoritative manager
Coach style manager
Pace setting manager
93
What type of business ownership is owned by one person?
Sole Proprietorship
Entrepreneur
Corportation
Partnership
94
Which is the value of something that is given up to get something else that is wanted?
Self-interest
Opportunity Cost
Trade-off
Capital
95
What does it mean to deposit?
money the bank pays you for leaving it in your savings account
the amount of money you deposit in your account to begin saving
add money into an account
take money out of an account
96
What does leading mean?
the team of people who make decisions for the business
all the activities to hire and keep workers
influencing people to accomplish the goals of a business
goals and strategies that ensure a business’s survival, prosperity & growth
97
What does "CPI" stand for in terms of the United States economy?
Customer Price Index
Consumer Place Indirect
Customer Practice Index
Consumer Price Index

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