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Finance Sample Test Without Answers
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Arizona Department of Education / Career and Technical Education 1 of 3 Sample Test Name: Finance (These items were developed by teachers for the Technical Skills Assessment. Below is a sample item for each program standard.) How does the bank reconcile its balance at the end of the day? A) Debits equal credits B) Income equals expenses C) Net worth equals owner's equity D) Assets equal liabilities Who independently reviews a bank's financial records for accuracy? A) Managers B) Auditors C) Supervisors D) Tellers Based on the Rule of 72, if an investor can earn 9% on an investment, how many years will it take to double in value? A) 12 B) 9 C) 6 D) 8
Arizona Department of Education / Career and Technical Education 2 of 3 What is the MAIN purpose of the Arizona Department of Insurance? A) (^) Provide industrywide data on claims and losses to insurance companies B) Prevent insurance companies from selling products across state lines C) Protect the public and help ensure that insurance entities follow state and federal laws D) (^) Protect insurance companies against adverse selection What do lenders typically require if they want a guarantee against risk? A) (^) Second credit check B) Double payments C) (^) Collateral D) (^) Payments in cash Where should articles of incorporation be filed? A) Country of origin B) City of origin C) County of origin D) State of origin In a spreadsheet program, why is it BETTER to use formulas instead of numbers when calculating amounts? A) To create graphs B) In case data changes C) To have a smaller file size D) To format for currency
Finance Sample Test Answer Key
Arizona Department of Education / Career and Technical Education