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Finance Sample Test Without Answers, Exercises of Finance

Finance Sample Test Without Answers

Typology: Exercises

2020/2021

Uploaded on 06/07/2025

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Arizona Department of Education / Career and Technical Education
Finance Sample Test
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
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Question 2 of 8
Question 3 of 8
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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

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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

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Finance Sample Test Answer Key

Question Answer

1. A

2. B

3. D

4. C

5. C

6. D

7. B

8. C

Arizona Department of Education / Career and Technical Education