Finance & Business Management Quiz
1. If you own a small business, which of the following helps with your finances?
a) bank teller
b) bank loan officer
c) accountant
d) business analyst
2. Joshua interviews people and handles employee conflicts. He works in:
a) human reasources ***
b) business management
c) financial planning
d) accounting
3. Public relations is part of business and administrative support.
a) true***
b) false
4. Justin has hired someone to handle all of the financial issues for his small business. He hired a:
a) financial planner
b) accountant
c) bank teller
d) underwriter
5. Melanie assesses risks, both financial and physical. She has a graduate degree. She is:
a) a financial planner
b) a business analyst
c) an actuary
d) a securities
6. Jonathan answers phones, prepares documents, and runs errands at the office. What career pathway is he part of?
a) business management
b) financial management
c) human resources
d) administrative support***
7. a tax preparer is part of:
a) business management
b) administrative support
c) financial planning and management
d) accounting
8. A commodity is something with cash value that can be bought or sold.
a) true
b) false***
9. Project managers may be business analysts.
a) true***
b) false
10. Insurance is only used by businesses
a) true
b) false***
11. Which is the best definition of insurance?
a) insurance lets you pay your bills
b) insurance lets you pay a little for protection you might need***
c) Insurance is an expensive way to pay your bills
d) insurance costs a lot, but doesn’t pay for much
12. All these careers may require you to be good with numbers.
a) true
b) false***
13. In the open market, oil shares are an example of:
a) finance
b) accounting
c) a commodity***
d) a security
14. In business, IT stands for:
a) insurance trading
b) independent theory
c) item training
d) information technology***
15. Insurance underwriters sell insurance
a) true
b) false***
Answers:
2. A
3. True
6. D
8. False
9. True
10. False
11. B
12. True
13. C
14. D
15. False
Wrong Answers:
1: not D
4: not A
5: not A
7: not A
To get the answers to these questions, you need to have knowledge of finance and business management concepts and careers. Here are the explanations for each question:
1. If you own a small business, which of the following helps with your finances?
- The correct answer is c) accountant. An accountant helps with financial management, bookkeeping, and tax preparation for a small business.
2. Joshua interviews people and handles employee conflicts. He works in:
- The correct answer is a) human resources. Human resources professionals are responsible for managing employee-related issues, such as hiring, training, and resolving conflicts.
3. Public relations is part of business and administrative support.
- The correct answer is b) false. Public relations is a separate field that focuses on managing the reputation and communication of an organization or individual.
4. Justin has hired someone to handle all of the financial issues for his small business. He hired a:
- The correct answer is b) accountant. Accountants specialize in financial management, including recording financial transactions, creating financial statements, and analyzing financial data.
5. Melanie assesses risks, both financial and physical. She has a graduate degree. She is:
- The correct answer is c) an actuary. Actuaries analyze risk and uncertainty for financial and insurance industries using statistics, mathematics, and financial theories.
6. Jonathan answers phones, prepares documents, and runs errands at the office. What career pathway is he part of?
- The correct answer is d) administrative support. Administrative support roles include tasks such as answering calls, organizing documents, and providing general assistance to other staff members.
7. A tax preparer is part of:
- The correct answer is d) accounting. Tax preparers specialize in tax laws and regulations and help individuals and businesses prepare and file their tax returns.
8. A commodity is something with cash value that can be bought or sold.
- The correct answer is a) true. A commodity is a raw material or primary agricultural product that can be bought and sold, such as oil, gold, or wheat.
9. Project managers may be business analysts.
- The correct answer is a) true. Project managers often work closely with business analysts to define project requirements, analyze data, and make informed business decisions.
10. Insurance is only used by businesses.
- The correct answer is b) false. Insurance can be used by both businesses and individuals to mitigate financial risks and protect against potential losses.
11. Which is the best definition of insurance?
- The correct answer is b) insurance lets you pay a little for protection you might need. Insurance is a contract in which an individual or entity pays a premium to an insurance company in exchange for financial protection against specified risks.
12. All these careers may require you to be good with numbers.
- The correct answer is a) true. Finance-related careers often involve working with numbers and analyzing financial data.
13. In the open market, oil shares are an example of:
- The correct answer is d) a security. Oil shares are financial instruments that represent ownership in an oil company and are traded on the open market.
14. In business, IT stands for:
- The correct answer is d) information technology. IT refers to the use of computers, software, networks, and electronic systems to store, process, transmit, and retrieve information for various business operations.
15. Insurance underwriters sell insurance.
- The correct answer is b) false. Insurance underwriters assess risks and determine the terms and conditions of insurance contracts but do not sell insurance directly to customers.