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