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DECA Finance
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#DECA State Finance Exam
Flashcards
25 cards
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Practice quiz
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Host live
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Questions
25
Answers
1
What statement is true regarding entrepreneurship?
Entrepreneurship offers limited personal & financial growth
Personal traits are behaviors that cannot be strengthened
Most people have the ability to become entrepreneurs
Most entrepreneurs are born with skills for success
2
The most important factor in a business's customer relations is its
People
Business processes
Business environment
Technology
3
Which compliance reasoning process detects unbalanced journal entires?
Contextual reasoning
Cross-source reasoning
Symbolic reasoning
Temporal reasoning
4
Which is NOT found in a company's annual report:
What the company did that year
What the important achievements were
A listing of all the things that went wrong
Some ideas about where the company will go next
5
An action a business must take as a result of political factors in the external environment
Adapting to changing values
Looking for new technologies
Developing cultural intelligence
Paying taxes
6
Which is a true statement about bookkeeping?
Most of it is done by hand
Certified accountants are responsible to carry out each step
It includes balancing the books and posting ledgers
It is carried out on a monthly basis
7
Lower premiums and the ability to control the claims process are advantages of
Traditional liability insurance policies
Captive insurance companies
Reinsurance carriers
Standard insurance companies
8
The largest, most liquid financial market in the world is the ____ market.
Foreign exchange
Equity
Debt
Commodity
9
Securities used to help reduce impact of significant fluctuation exchange rates and commodities
Derivatives
Real estate
Bonds
Stocks
10
What is s business's equipment listed as on a glance sheet?
Current liabilities
Current assets
Long-term liabilities
Fixed assets
11
Prepare monthly financial reports to seniors, help create budget, review tax returns of company
Certified Internal Auditor (CIA)
Certified Management Accountant (CMA)
Certified Fraud Examiner (CFE)
Certified Public Accountant (CPA)
12
Commercial banks and brokerage firms are examples of
Legislative groups
Nonprofit organizations
Insurance institutions
Financial intermediaries
13
Which technology has been proven successful in creating "what-if" scenarios in finance industry
Time value of money calculators
Financial reporting and consolidation
Account reconciliation
Digital dashboards
14
Looking up to your older brother and friends even on what they buy is a/an _____ example.
Reference group
Psychological example
Situational influence
Membership group
15
Which of the following is a tax-deductible gift:
Inherited items
Vacation home
Charitable donation
Stocks
16
Certification needed to reduce debt, build wealth, and save for retirement of a client
Certified Financial Planner (CFP)
Charted Market Technician (CMT)
Certified Tax Specialist (CTS)
Certified Loan Officer (CLO)
17
Which business trends affects human resources management?
Cost of business going down
No restructuring
Lack of new technology
Globalization
18
One factor that has stimulated financial globalization is an increase in
Domestic investment preferences
Foreign regulations
Domestic competition
Protectionism
19
Process used to verify a corporation is providing shareholders with accurate info on finance
Batching
Smoothing
Planning
Auditing
20
To evaluate effectiveness of their compliance programs, many businesses conduct
Marketing research
Direct trading
Training sessions
Internal audits
21
Which offers investors the advantage of securities diversification?
Treasury bonds
Corporate bonds
Certificates of deposits
Mutual funds
22
When selecting a qualified financial planner, it is important to consider his/her
Education and licensure
Personal goals and education
Living expenses and personal goals
Living expenses and licensure
23
Loss prevention, loss avoidance, and loss reduction are risk-_____ techniques.
Control
Financing
Retention
Transfer
24
Which can you NOT learn about a company by reading a stock table?
What breaking news affected the company that day
If the stock price is up or down
What the day's volume was
What the stock's yearly price range is
25
True or false: Most important role in a consensus-building groups is the notetaker
True; the notetaker keeps track of time
False; all group members have equally important roles
True; the notetaker guides all group discussion
False; the most important role is the facilitator