BUSN 380 DEVRY WEEK 1 QUIZ LATEST
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BUSN 380 DeVry Week 1 Quiz Latest
BUSN 380 DeVry Week 1 Quiz Latest
- Question : (TCO 1) A(n) _____ summarizes your current financial situation, analyzes your financial needs, and recommends a direction for your financial activities.
- insurance prospectus
- 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.
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.
- 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)
- cooperative employment experience.
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
- 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.
- career change
Question 15. Question : (TCO 1) A _____ résumé is designed to obtain a specific job.
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
- 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.
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