Trivia On Business Terms

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Trivia On Business Terms - Quiz

Test your Knowledge about Business Terms


Questions and Answers
  • 1. 

    What term refers to movable goods such as cars, textiles and appliances?

    • A. 

      Principles

    • B. 

      Book Cash

    • C. 

      Merchandise

    • D. 

      Gross

    Correct Answer
    C. Merchandise
    Explanation
    The term "merchandise" refers to movable goods such as cars, textiles, and appliances. It is commonly used in the context of retail or business, where these goods are bought and sold. "Principles" and "book cash" do not relate to movable goods, and "gross" refers to the total amount before deductions, which is not specifically related to movable goods.

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  • 2. 

    Selling items illegally is often referred to as selling them where?

    • A. 

      Over The Counter

    • B. 

      Trunk Sale

    • C. 

      On The Black Market

    • D. 

      On EBay

    Correct Answer
    C. On The Black Market
    Explanation
    Selling items illegally is commonly known as selling them on the black market. This term refers to an underground or illegal market where goods or services are bought and sold without government regulation or oversight. The black market typically involves the sale of illegal or restricted items, such as drugs, counterfeit goods, stolen goods, or weapons. It operates outside of legal channels and is often associated with criminal activities.

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  • 3. 

    Taking back a possession for non-payment is termed a buy-back, or what?

    • A. 

      Default

    • B. 

      Repo

    • C. 

      Scandal

    • D. 

      Security Breach

    Correct Answer
    B. Repo
    Explanation
    Repo is short for repurchase agreement. It is a financial transaction in which a seller agrees to repurchase a security from a buyer at a predetermined price and date. In this context, taking back a possession for non-payment is referred to as a repo.

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  • 4. 

    The title of Chief Operating Officer is abbreviated to what?

    • A. 

      COO

    • B. 

      VIP

    • C. 

      Vice President

    • D. 

      Chief

    Correct Answer
    A. COO
    Explanation
    The correct answer is COO because the title of Chief Operating Officer is commonly abbreviated as COO.

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  • 5. 

    Graphs, pictures and mathematical representations are examples of what?

    • A. 

      Mergers

    • B. 

      Modeling

    • C. 

      Mimicking

    • D. 

      Means

    Correct Answer
    B. Modeling
    Explanation
    Graphs, pictures, and mathematical representations are examples of modeling. Modeling involves creating a simplified representation of a real-world system or concept using various tools and techniques. In this case, graphs, pictures, and mathematical representations are used to visually or mathematically represent data, relationships, or patterns in order to understand or analyze a particular phenomenon or problem.

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  • 6. 

    What is a company's CFO in charge of?

    • A. 

      Finances

    • B. 

      Research & Development

    • C. 

      Staff

    • D. 

      Marketing

    Correct Answer
    A. Finances
    Explanation
    The CFO, or Chief Financial Officer, is responsible for overseeing a company's financial activities. This includes managing the company's financial planning, budgeting, and reporting, as well as ensuring compliance with financial regulations. The CFO is also involved in making strategic financial decisions and providing financial analysis and guidance to the company's executives. Overall, the CFO plays a crucial role in managing and optimizing the company's financial resources and ensuring its financial stability and growth.

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  • 7. 

    Making a list of a company's physical assets involves doing what?

    • A. 

      Background Check

    • B. 

      Filing

    • C. 

      Inventory

    • D. 

      Credit Check

    Correct Answer
    C. Inventory
    Explanation
    Making a list of a company's physical assets involves conducting an inventory. This process typically includes identifying and documenting all the tangible items owned by the company, such as equipment, machinery, furniture, and inventory. Inventory management is crucial for businesses to keep track of their assets, monitor stock levels, and ensure efficient operations. It helps in preventing losses, optimizing resource allocation, and facilitating financial planning and decision-making.

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  • 8. 

    What is the difference between a day's last trade and the previous day's last trade?

    • A. 

      Net Change

    • B. 

      Net Assets

    • C. 

      Gross Assets

    • D. 

      Net Cash Balance

    Correct Answer
    A. Net Change
    Explanation
    The difference between a day's last trade and the previous day's last trade is referred to as the net change. This term represents the overall change in value or price of a particular asset or security over the course of a day. It is calculated by subtracting the previous day's closing price from the current day's closing price. The net change can be positive or negative, indicating whether the asset or security has gained or lost value during that time period.

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  • 9. 

    Stock trading done by officers or directors of a company is called what?

    • A. 

      Insider Trading

    • B. 

      Insolvency

    • C. 

      Industrial Espionage

    • D. 

      Profit & Loss Statement

    Correct Answer
    A. Insider Trading
    Explanation
    Insider trading refers to the buying or selling of a company's stocks by its officers or directors, based on non-public information about the company. This practice is considered illegal in most jurisdictions as it gives insiders an unfair advantage over other investors. By using their privileged access to confidential information, insiders can make significant profits or avoid losses. Insider trading undermines the fairness and integrity of the stock market, as it violates the principle of equal access to information. Therefore, the correct answer to the question is "Insider Trading."

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  • 10. 

    What is the price paid for borrowing money?

    • A. 

      Opportunity Cost

    • B. 

      Coverage Ratio

    • C. 

      Subsidy Market

    • D. 

      Interest

    Correct Answer
    D. Interest
    Explanation
    The price paid for borrowing money is called interest. When individuals or businesses borrow money, they are charged a certain percentage of the borrowed amount as interest. This is the cost of using someone else's money and compensates the lender for the risk and opportunity cost of lending the funds. Interest rates can vary depending on factors such as the creditworthiness of the borrower, the duration of the loan, and market conditions.

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  • 11. 

    A person who manages a portfolio of investments is called a what?

    • A. 

      Marketing Manager

    • B. 

      Investment Manager

    • C. 

      Security Officer

    • D. 

      Director Of Global Assets

    Correct Answer
    B. Investment Manager
    Explanation
    An investment manager is a person who manages a portfolio of investments on behalf of individuals or organizations. They are responsible for making investment decisions, buying and selling securities, and monitoring the performance of the portfolio. They analyze market trends, conduct research, and develop investment strategies to maximize returns and minimize risks. The role of an investment manager requires expertise in finance, economics, and investment analysis. They work closely with clients to understand their financial goals and risk tolerance and make investment recommendations accordingly.

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  • 12. 

    A bill produced by a seller of goods or services and submitted to the purchaser is a what?

    • A. 

      Bill Of Rights

    • B. 

      Creed

    • C. 

      Invoice

    • D. 

      Dissolution Agreement

    Correct Answer
    C. Invoice
    Explanation
    An invoice is a bill that a seller sends to a purchaser, requesting payment for goods or services provided. It serves as a record of the transaction and includes details such as the items or services purchased, quantities, prices, and payment terms. The purchaser is expected to review the invoice and make the necessary payment within the specified timeframe. Therefore, an invoice is the correct answer in this context.

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  • 13. 

    The amount of time reflected on a pay check is termed what?

    • A. 

      Pay Period

    • B. 

      Cafeteria Plan

    • C. 

      Set Salary

    • D. 

      Timeclock

    Correct Answer
    A. Pay Period
    Explanation
    A pay period refers to the specific time frame for which an employee's wages are calculated and paid. It could be weekly, bi-weekly, or monthly, depending on the employer's payroll schedule. The pay period determines the amount of time reflected on a pay check, indicating the duration for which the employee's work hours and earnings are accounted for. It is an essential aspect of payroll management and ensures accurate and timely payment to employees.

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  • 14. 

    How long is the repurchase agreement term on an overnight repo?

    • A. 

      One Day

    • B. 

      One Week

    • C. 

      One Year

    • D. 

      One Month

    Correct Answer
    A. One Day
    Explanation
    The repurchase agreement term on an overnight repo is one day. This means that the agreement is valid for a period of 24 hours, after which the securities sold are repurchased by the seller. Overnight repos are commonly used in the financial market for short-term borrowing and lending of securities, with the agreement expiring the next business day.

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  • 15. 

    A company's purpose is stated in what short paragraph?

    • A. 

      Index

    • B. 

      Mission Statement

    • C. 

      By-Law

    • D. 

      Article Of Incorporation

    Correct Answer
    B. Mission Statement
    Explanation
    A company's purpose is stated in its mission statement. This is a short paragraph that defines the company's goals, values, and overall reason for existence. It outlines what the company aims to achieve and how it plans to do so. The mission statement serves as a guiding principle for the company and helps align its actions and decisions with its purpose.

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  • 16. 

    What is another name for "par value"?

    • A. 

      Mean Value

    • B. 

      Maturity Value

    • C. 

      Value Date

    • D. 

      Random Value

    Correct Answer
    B. Maturity Value
    Explanation
    "Maturity value" is another term used to refer to "par value". Maturity value represents the face value or principal amount of a financial instrument, such as a bond or a stock, that will be paid back to the investor at its maturity date. It is the amount that the issuer of the instrument promises to repay to the investor. Therefore, "maturity value" is the correct alternative name for "par value".

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  • 17. 

    A business that is open 24/7 is closed how many days per week?

    • A. 

      0

    • B. 

      3

    • C. 

      2

    • D. 

      1

    Correct Answer
    A. 0
    Explanation
    A business that is open 24/7 is open every day of the week, including weekends. Therefore, it is not closed any days per week, resulting in the answer of 0.

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  • 18. 

    In the law of large numbers, what approaches the mean of the population as the sample grows?

    • A. 

      Mean Of A Random Sample

    • B. 

      Mean Of Liquid Assets

    • C. 

      Population Limit

    • D. 

      Mean Of Principles

    Correct Answer
    A. Mean Of A Random Sample
    Explanation
    The law of large numbers states that as the sample size increases, the mean of a random sample approaches the mean of the population. This means that as we take larger and larger samples, the average value of those samples will get closer and closer to the average value of the entire population. Therefore, the correct answer is "Mean Of A Random Sample."

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  • 19. 

    What kind of tables are mortality tables?

    • A. 

      Liability

    • B. 

      Potential

    • C. 

      Probability

    • D. 

      Possibility

    Correct Answer
    C. Probability
    Explanation
    Mortality tables are probability tables that provide information on the likelihood of death at different ages. These tables are commonly used by insurance companies and actuaries to calculate life expectancies and determine premiums for life insurance policies. By analyzing mortality rates and trends, these tables help assess the risk of death for individuals of different ages and demographics. Therefore, the correct answer is "Probability" as mortality tables are based on the probability of death at different ages.

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  • 20. 

    What time frame do mortality tables refer to?

    • A. 

      One Month

    • B. 

      One Year

    • C. 

      Ten Years

    • D. 

      Three Months

    Correct Answer
    B. One Year
    Explanation
    Mortality tables refer to a time frame of one year. These tables are used by insurance companies and actuaries to calculate the probability of death at different ages. By analyzing mortality rates over a one-year period, insurers can determine the premiums to charge for life insurance policies and annuities. These tables provide valuable insights into life expectancy and help in making informed decisions regarding risk assessment and financial planning.

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