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FBLA Introduction To Business Test
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FBLA Introduction To Business Test
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25 Questions

1. An important difference between a consumer finance company and a credit union is
2. The amount paid by a policyholder for insurance coverage is known as the
3. Henry owns a car valued at $6,000. He has liability and comprehensive insurance coverage, with a $500 deductible. He has no collision coverage. How much would he collect from the insurance company if his automobile were destroyed in an accident in which he was at fault?
4. What is the purpose of a follow-up letter?
5. Credit bureaus are
6. Money cannot be withdrawn from the bank without penalty during a certain time period if it is deposited in a
7. Unlimited wants and needs, combined with limited resources, results in
8. The circular flow of economic activity means that
9. Goals that will be accomplished in a time period of less than 12 months are referred to as
10. The organization which insures bank accounts up to $100,000 is the
11. Which of the following is not a factor used by lenders to evaluate a person's credit worthiness?
12. Individuals are protected from discrimination in the workplace by the
13. Labor and management can most effectively resolve their differences regarding wages and working conditions through
14. Obsolescence occurs when
15. An economic system in which individuals own most of the capital resources and carry on business activities with a minimum of government control is called
16. Which of the following is not a function of marketing?
17. Which of the following is a product that is considered a commodity?
18. A business transaction occurs each time a business
19. Which of the following is a disadvantage of a sole proprietorship?
20. Ditech.com, LendingTree.com, and E-Loan.com are Internet sites that help consumers
21. There are four means of dealing with risk. Purchasing insurance is one method of
22. Cooking instructions on packaging add value to food products by providing
23. A business letter written for the purpose of securing a personal job interview is a
24. Outstanding checks are subtracted from the
25. A cash flow analysis gives you important feedback on your

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