Frank is 33 years old and married, with 2 children. He has $40,000 in his retirement account, which is earning an average of 5% annually, and $10,000 in his personal savings account, which is earning 2% annually. He is current with his mortgage, and has $50,000 left to pay at a rate of 6%. Frank also has $30,000 in credit card debt with an average rate of 13%. If Frank wants to increase his chances of retiring comfortably, what would the best way be for him to spend a Christmas bonus of $10,000?

There are five content areas, called domains, on the test. Each content area tests in several categories. Finance: Tests knowledge of money matters, such as comparing and contrasting investment strategies Banking and financial services, including how to utilize banking information systems Securities and investments, which includes selecting client investments and calculating asset values Insurance operation, which includes techniques to identify fraud Basic and advanced accounting by showcasing critical thinking skills independently and in teams Financial analysis to solve... Show more

There are five content areas, called domains, on the test. Each content area tests in several categories.

Finance:
Tests knowledge of money matters, such as comparing and contrasting investment strategies
Banking and financial services, including how to utilize banking information systems
Securities and investments, which includes selecting client investments and calculating asset values
Insurance operation, which includes techniques to identify fraud
Basic and advanced accounting by showcasing critical thinking skills independently and in teams
Financial analysis to solve problems
Probability calculations to forecast outcomes and manage risk, including strategies to explore a career in risk management

Business Management:
Tests knowledge of business ownership and entrepreneurial skills and procedures, which includes managing activities to ensure purchasing and quality control efficiency
Principals of management in the business environment, including understanding the role of management
Human relations and resource management

Ethics, Law, Business Communication and International Business:
Tests knowledge of ethical issues and social responsibility in business and personal behavior, including analyzing ethical consideration in business
Business law
International business
Effective communication, including using technologies to produce business documents

Technology and Information Systems:
Tests effective use of computer systems
Information technology, which includes understanding terms and concepts
information management systems and information technology applications, which includes the role of e-commerce
Confidentiality, security and data integrity as they relate to computer technology, includes ethical and legal issues related to confidentiality

Leadership and Career Development:
Examines career development and leadership opportunities, including employment law and regulation
Interpersonal and relationship skills in a business environment, including selecting and training employees
Leadership and community services

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