BUSN 380 DEVRY WEEK 1 QUIZ LATEST

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BUSN 380 DeVry Week 1 Quiz Latest

BUSN380

BUSN 380 DeVry Week 1 Quiz Latest

  1. Question : (TCO 1) A(n) _____ summarizes your current financial situation, analyzes your financial needs, and recommends a direction for your financial activities.
  • insurance prospectus
  • statement
  • budget
  • investment forecast
  • financial plan

Question 2. Question : (TCO 1) In financial planning, a major activity component involves the

  • allocation of current resources for spending.
  • evaluation of investment alternatives.
  • evaluation of one’s career.
  • selection of insurance coverage.
  • establishment of credit.

Question 3. Question : (TCO 1) Higher interest rates can be caused by

  • increased saving and investing by consumers.
  • an increase in the money supply.
  • a decrease in consumer borrowing.
  • lower government spending.
  • a lower money supply.

Question 4. Question : (TCO 1) The _____ refers to stages that an individual goes through based on age, financial needs, and family situation.

  • financial planning process
  • financial cycle
  • adult life cycle
  • personal economic cycle
  • tax planning process

Question 5. Question : (TCO 1) The future value of an account in which $2,000 is deposited each year for 5 years, and which earns 4%, is approximately _____ after 5 years.

  • $2,000
  • $2,400
  • $10,000
  • $400
  • $10,800

Question 6. Question : (TCO 1) Higher employment levels can be attributed to

  • lower consumer prices.
  • reduced employment levels.
  • lower interest rates.
  • higher employment levels.
  • increased consumer spending.

Question 7. Question : (TCO 1) When it comes to the financial planning process, the first step is to

  • develop financial goals.
  • implement the financial plan.
  • evaluate and revise your actions.
  • analyze your current personal and financial situation.
  • create a financial plan of action.

Question 8. Question : (TCO 1) The simple calculation of interest can be performed by multiplying the amount in a savings account by the

  • annual interest rate.
  • annual interest rate and the time period.
  • number of months in a year.
  • time period and number of months.
  • time period.

Question 9. Question : (TCO 1) Brad Opper has a goal of “saving $50 a month for vacation.” Brad’s goal lacks

  • a realistic perspective.
  • specific terms.
  • the type of action to be taken.
  • a purpose.
  • a time frame.

Question 10. Question : (TCO 1) _____ risk refers to the changing cost of money.

  • Monetary
  • Inflation
  • Economic
  • Personal
  • Interest rate

Question 11. Question : (TCO 1) You want to determine the current value of an annuity that pays $350 a month for the next 5 years. What type of calculation would provide you with this value?

  • Future value of a single amount
  • Simple interest
  • Present value of a single amount
  • Future value of a series of deposits
  • Present value of a series of deposits

Question 12. Question : (TCO 1) A commitment to a profession that requires continued training and offers a clear path for occupational growth is a(n)

  • apprenticeship.
  • internship
  • employment.
  • cooperative employment experience.
  • career.

Question 13. Question : (TCO 1) In order to evaluate one’s current financial position (including net worth), the best tool that can be used is a

  • budget.
  • cash flow statement.
  • bank statement.
  • time-value-of-money report.
  • balance sheet.

Question 14. Question : (TCO 1) A _____ résumé would best be used by an employee who has worked in many fields and has a variety of skills in a variety of work-related categories.

  • targeted
  • goal-oriented
  • chronological
  • functional
  • career change

Question 15. Question : (TCO 1) A _____ résumé is designed to obtain a specific job.

  • functional
  • chronological
  • goal-oriented
  • targeted
  • data

Question 16. Question : (TCO 1) Which of the following would be a competency commonly associated with successful people?

  • An ability to work well with others in a variety of settings
  • A desire to do tasks better than they have to be done
  • An ability to solve problems creatively in team settings
  • Well-developed written and oral communication skills
  • All of the above

Question 17. Question : (TCO 1) Cash and other items that are easily converted to cash are referred to as _____.

  • quick assets
  • working assets
  • liquid assets
  • investments
  • solvent items

Question 18. Question : (TCO 1) A savings amount of $3,500 on deposit for 4 years at 4% interest (compounded annually) would earn about

  • $ 650.
  • $ 600.
  • $560.
  • $140.
  • $350.

Question 19. Question : (TCO 1) Solvency can be assessed through the analysis of the following financial document.

  • Cash flow statement
  • Debt consolidation statement
  • Personal income statement
  • Credit report
  • The balance sheet

Question 20. Question : (TCO 1) Which of the following situations best represents an individual facing insolvency?

  • Assets $30,000; liabilities $37,000
  • Assets $78,000; net worth $22,000
  • Liabilities $45,000; net worth $6,000
  • Assets $56,000; annual expenses $60,000
  • Annual cash inflows $45,000; liabilities $50,000