1
NAF EOC EXAM QUESTIONS AND
ANSWERS |GUARANTEED PASS | LATEST
2025-2026
4 Ps of marketing - Correct Answer-four major aspects of
marketing price, promotion, product, and place
(DISTRIBUTION)
Accounting - Correct Answer-Theory and system of setting
up,maintaining, and auditing the books of a firm, art of
analyzing the financial position and operating results of a
business house from a study of its sales, purchases, overhead,
and so forth.
Added Value - Correct Answer-Increase in worth of a product
or service as a result of a particular activity
Advertising - Correct Answer-Purchase of space in a
publication or public place for a company to present
promotional materials in order to reach its customers
angel investor - Correct Answer-individual who invests in a
business venture, providing capital for start-up or expansion,
in exchange for a higher rate of return than would be given by
more traditional investments
1
, 2
associate's degree (AA) - Correct Answer-degree given for
successful completion of some courses of study as a two-year
college
bachelor of business administration (BBA) - Correct Answer-
bachelor of business adminstration
bachelor's degree - Correct Answer-academic degree typically
requiring four years of study, someone who has successfully
completed undergraduate studies; a bachelor of arts is a (BA)
and a bachelor of science is a (BS)
bias - Correct Answer-a preference of subjective background
that prevents someone from considering an issue objectively
board of advisors - Correct Answer-an informal group of
advisors with no legal sanctions that guides and provides
direction to the enterpreneurs
board of directors - Correct Answer-formal group of elected
advisors that set policy, help shape a business's daily
operations and growth strategy, and provide direction to the
entrepreneurs
2
, 3
bonding insurance - Correct Answer-type of insurance that
protects against actions of the company's employees, such as
employee theft or work that is not finished on time
business life cycle - Correct Answer-relative growth and
decline of profit over the course of a business's existence
business plan - Correct Answer-written document detailing a
business's plan of operations and goals, and describing its
activities, management team, costs, and financial projections
and plans
casualty insurance - Correct Answer-type of insurance that
protects a business from lawsuits by providing payment for
damages and court defense
code of ethics - Correct Answer-document that includes a set
of rules or behaviors governing an organization's business
practices based on its values and standards
college - Correct Answer-institution of higher learning that
offers undergraduate programs, usually of a four-year
duration, that lead to a bachelor's degree in the arts of sciences
(BA or BS)
3
NAF EOC EXAM QUESTIONS AND
ANSWERS |GUARANTEED PASS | LATEST
2025-2026
4 Ps of marketing - Correct Answer-four major aspects of
marketing price, promotion, product, and place
(DISTRIBUTION)
Accounting - Correct Answer-Theory and system of setting
up,maintaining, and auditing the books of a firm, art of
analyzing the financial position and operating results of a
business house from a study of its sales, purchases, overhead,
and so forth.
Added Value - Correct Answer-Increase in worth of a product
or service as a result of a particular activity
Advertising - Correct Answer-Purchase of space in a
publication or public place for a company to present
promotional materials in order to reach its customers
angel investor - Correct Answer-individual who invests in a
business venture, providing capital for start-up or expansion,
in exchange for a higher rate of return than would be given by
more traditional investments
1
, 2
associate's degree (AA) - Correct Answer-degree given for
successful completion of some courses of study as a two-year
college
bachelor of business administration (BBA) - Correct Answer-
bachelor of business adminstration
bachelor's degree - Correct Answer-academic degree typically
requiring four years of study, someone who has successfully
completed undergraduate studies; a bachelor of arts is a (BA)
and a bachelor of science is a (BS)
bias - Correct Answer-a preference of subjective background
that prevents someone from considering an issue objectively
board of advisors - Correct Answer-an informal group of
advisors with no legal sanctions that guides and provides
direction to the enterpreneurs
board of directors - Correct Answer-formal group of elected
advisors that set policy, help shape a business's daily
operations and growth strategy, and provide direction to the
entrepreneurs
2
, 3
bonding insurance - Correct Answer-type of insurance that
protects against actions of the company's employees, such as
employee theft or work that is not finished on time
business life cycle - Correct Answer-relative growth and
decline of profit over the course of a business's existence
business plan - Correct Answer-written document detailing a
business's plan of operations and goals, and describing its
activities, management team, costs, and financial projections
and plans
casualty insurance - Correct Answer-type of insurance that
protects a business from lawsuits by providing payment for
damages and court defense
code of ethics - Correct Answer-document that includes a set
of rules or behaviors governing an organization's business
practices based on its values and standards
college - Correct Answer-institution of higher learning that
offers undergraduate programs, usually of a four-year
duration, that lead to a bachelor's degree in the arts of sciences
(BA or BS)
3
