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FBLA Business Calculations Test 5
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FBLA Business Calculations Test 5
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25 Questions

1. By investing in many companies, mutual funds increase the chance of buying stocks that will be
2. Maria earned $5,250, $4,800, $3,990, and $5,120 from her home business during the last four months. What was her average monthly income during this period?
3. In metric measures of area, each square unit is how many times larger than the next smaller unit?
4. If an employee is paid an hourly rate of $15.10 for regular-time work, what is the employee's double-time hourly rates for overtime work?
5. Which basic homeowners insurance category covers the extra costs of living incurred when your home is unavailable due to damage?
6. Which of the following is equivalent to 1,000,000 KB?
7. A mutual fund has a net asset value of $8.23 and an offer price of $8.75. What is the rate of commission, to the nearest tenth percent?
8. Which of the following statements about the metric system is true?
9. A bank loaned Peggy Chalmers $3,000 at 13.5% ordinary interest for 90 days. Find the amount of interest she owed on the loan.
10. Casey Martin's ISP charged a $35 installation fee, a monthly rental fee of $2.50 for the modem, and a monthly access fee of $39.95 for an unlimited connection. Casey also purchased antivirus and firewall software for $59.99. What will be Casey's total cost to connect to the Internet for the first year?
11. Which application would probably NOT require knowledge of calculating area?
12. Kim was injured in an accident and can no longer work. Her disability policy will pay 55% of her average annual wages for the last 3 years. Her wages for the last 3 years were $55,650, $56,900, and $58,220. What is Kim's monthly disability benefit?
13. The property tax rate in a certain district is 43 mills per $1 of assessed value. How much property tax will be due on a business assessed at $375,000?
14. Clarence earns $164.75 a week at a part time job. Of this amount, his employer deducts $28.71 for federal and state withholding taxes, $1.24 for local withholding tax, and 7.65% for social security and Medicare taxes. What is Clarence's weekly net pay?
15. Which of the following employee benefits is required by law?
16. John's pension fund pays 1.75% of his average salary for the last three years for each year of service to the company. John spent 28 years with the company and his annual salary for the last three years was $44,450, $45,110, and $45,685. What is his average salary for the last three years?
17. Mark Snyder deposited $2,200 in a six month CD that pays 4.5% simple annual interest. How much interest did he earn at the end of the term?
18. Christy Peterson's total income last year was $77,340. Of that amount, she spent $7,240 on transportation costs and $2,100 on clothing. What percent of Christy's total income did she spend on transportation and clothing combined?
19. Carlos bought 2 CDs @ $15.99, 2 DVDs @ $21.99, and a computer game @ $34.99 in a state with a sales tax rate of 4.5%. What was the total amount of the sales receipt?
20. Jamal Winchester invested $75,000 in a property. He expects his annual expenses of owning the property to be $18,000. If Jamal wants to earn 8% annual net income on his capital investment, what monthly rent must he charge?
21. Which of the following is NOT a reason for a small business to keep cash receipts records?
22. Kurt borrowed $225 for 18 days on his credit card using a cash advance. His credit company charged a cash advance fee of $12 and a daily periodic interest rate of 0.054%. What was the total finance charge on the cash advance?
23. A line graph shows that company sales peaked in July of last year at $420,800 and were at their lowest in November at $315,180. What was the range of sales for the company last year?
24. Which of the following is NOT considered a transaction on a credit card statement?
25. Fran's Internet connection has a true speed of 350 kbps. How long would it take her to download a 4.35 MB file to the nearest tenth of a second?

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