Test Your Knowledge On Business

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Test Your Knowledge On Business - Quiz

This quiz is designed to help study for the business administration midterm.


Questions and Answers
  • 1. 

    For how many trading days were the U.S. stock markets closed after the September 11, 2001 attacks?

    • A.

      Six

    • B.

      Four

    • C.

      Seven

    • D.

      Ten

    Correct Answer
    B. Four
    Explanation
    After the September 11, 2001 attacks, the U.S. stock markets were closed for four trading days. This closure was a response to the unprecedented events and the need to assess the impact on the financial markets. The closure aimed to ensure stability and provide time for authorities to evaluate the situation and implement necessary measures.

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  • 2. 

    In which city is the price of gold "fixed" daily?

    • A.

      Chicago

    • B.

      New York

    • C.

      Paris

    • D.

      London

    Correct Answer
    D. London
    Explanation
    The price of gold is "fixed" daily in London. London is known for its long history and reputation as a global hub for financial markets, including the gold market. The London Bullion Market Association (LBMA) sets the price of gold twice a day through a process known as the London Gold Fixing. This fix is widely recognized and used by market participants around the world as a benchmark for gold prices. Therefore, London is the city where the price of gold is fixed daily.

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  • 3. 

    What did Nintendo manufacture before video games?

    • A.

      Board Games

    • B.

      Auto Parts

    • C.

      Playing Cards

    • D.

      Computer Chips

    Correct Answer
    C. Playing Cards
    Explanation
    Nintendo manufactured playing cards before video games. This is a well-known fact about the company's history. Nintendo was originally founded in 1889 as a playing card company by Fusajiro Yamauchi. They produced a variety of playing cards, including the popular Hanafuda cards, which were used in traditional Japanese card games. It was only later, in the 1970s, that Nintendo shifted its focus to the video game industry and became the successful gaming company we know today.

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  • 4. 

    Following the lead of Sony's "Walkman", who introduced the "Watchman"?

    • A.

      Texas Instruments

    • B.

      Sony

    • C.

      Nintendo

    • D.

      Panasonic

    Correct Answer
    B. Sony
    Explanation
    Sony introduced the "Watchman" following the success of their "Walkman" product. This suggests that Sony was building on the popularity and brand recognition of the Walkman by introducing a similar portable device, but this time for watching television. The naming convention also indicates that Sony wanted to create a recognizable and cohesive product line, further supporting the idea that Sony is the correct answer.

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  • 5. 

    Which auto company's name is adapted from the Latin word for "I rolled"?

    • A.

      Fiat

    • B.

      Volvo

    • C.

      Saturn

    • D.

      Honda

    Correct Answer
    B. Volvo
    Explanation
    Volvo's name is adapted from the Latin word "volvere," which means "I rolled." This name choice reflects the company's history of manufacturing ball bearings, which are used in rolling applications. The Latin word "volvere" is also related to the English word "revolve," further emphasizing the connection to rolling. Therefore, the correct answer is Volvo.

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  • 6. 

    What company operated the world's largest internet network before it merged with MCI Communications?

    • A.

      Netscape

    • B.

      Enron

    • C.

      WorldCom

    • D.

      AOL

    Correct Answer
    C. WorldCom
    Explanation
    WorldCom operated the world's largest internet network before it merged with MCI Communications.

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  • 7. 

    What year did the Ford Motor Company go public?

    • A.

      1980

    • B.

      1956

    • C.

      1890

    • D.

      1975

    Correct Answer
    B. 1956
    Explanation
    In 1956, the Ford Motor Company went public. This means that the company offered its shares to the public for the first time, allowing individuals to buy and trade its stock on the stock market. Going public is often seen as a significant milestone for a company, as it can provide access to capital and increase its visibility and credibility in the market.

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  • 8. 

    Which computer company was incorporated as Computing Tabulating Recording Corporation in 1911?

    • A.

      IBM

    • B.

      Microsoft

    • C.

      Dell

    • D.

      Compaq

    Correct Answer
    A. IBM
    Explanation
    IBM, or International Business Machines Corporation, was incorporated as Computing Tabulating Recording Corporation in 1911. This company was initially formed through the merger of three separate companies: the Tabulating Machine Company, the International Time Recording Company, and the Computing Scale Company. In 1924, the company changed its name to IBM, which it has been known as ever since. IBM has a long history in the computer industry and is one of the world's largest technology companies.

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  • 9. 

    Who was America's first billionaire?

    • A.

      William Carnegie

    • B.

      Thomas Jefferson

    • C.

      Henry Ford

    • D.

      Thomas Edison

    Correct Answer
    C. Henry Ford
    Explanation
    Henry Ford is the correct answer because he was indeed America's first billionaire. Ford was the founder of the Ford Motor Company and played a significant role in revolutionizing the automobile industry with the introduction of the Model T. His innovative production methods, such as the assembly line, allowed for mass production of cars, which made them more affordable and accessible to the general public. Ford's success in the automotive industry led to his accumulation of wealth, making him the first billionaire in America.

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  • 10. 

    Which company has the most assets?

    • A.

      Kmart

    • B.

      Citicorp

    • C.

      Microsoft

    • D.

      Wal-Mart

    Correct Answer
    B. Citicorp
    Explanation
    Citicorp is the correct answer because it is a multinational investment banking and financial services corporation that has a wide range of assets including cash, securities, loans, and physical assets. It operates in various countries and has a significant presence in the global financial market, making it likely to have the most assets among the given options.

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  • 11. 

    What year were Wall Street's "circuit breakers" first used?

    • A.

      1980

    • B.

      1932

    • C.

      1997

    • D.

      1890

    Correct Answer
    C. 1997
    Explanation
    In 1997, Wall Street's "circuit breakers" were first used. Circuit breakers are measures put in place to prevent extreme market volatility and large price declines. They are triggered when there is a significant drop in the stock market, causing trading to be halted temporarily. This mechanism was introduced after the 1987 stock market crash, in order to provide a cooling-off period and prevent panic selling.

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  • 12. 

    Which company paid the largest anti-trust penalty in history in 1998?

    • A.

      Enron

    • B.

      Otis & Sons

    • C.

      Microsoft

    • D.

      UCAR International

    Correct Answer
    D. UCAR International
    Explanation
    UCAR International paid the largest anti-trust penalty in history in 1998.

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  • 13. 

    The largest Dow drop of over 554 points happened in what year?

    • A.

      1997

    • B.

      2002

    • C.

      1998

    • D.

      1999

    Correct Answer
    A. 1997
    Explanation
    In 1997, the largest Dow drop of over 554 points occurred.

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  • 14. 

    What was credited with propelling the Dow Jones Industrial Average past the 3000 mark?

    • A.

      World War II

    • B.

      Falkland Island War

    • C.

      Korean War

    • D.

      Gulf War

    Correct Answer
    D. Gulf War
    Explanation
    The Gulf War refers to the conflict that took place in 1990-1991 between Iraq and a coalition of nations led by the United States. This war had a significant impact on the Dow Jones Industrial Average (DJIA) as it propelled it past the 3000 mark. The uncertainty and volatility caused by the war led to fluctuations in the stock market, with some sectors benefiting from increased defense spending and others being negatively affected. Overall, the Gulf War had a profound impact on the global economy and financial markets, including the DJIA.

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  • 15. 

    What does the CDW Company sell?

    • A.

      Electronics

    • B.

      Office Supplies

    • C.

      Electric Razors

    • D.

      Car Parts

    Correct Answer
    A. Electronics
    Explanation
    The CDW Company sells electronics.

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  • Current Version
  • Mar 19, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Mar 16, 2015
    Quiz Created by
    Alfredhook3
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