FLORIDA BUSINESS AND FINANCE COMPREHENSIVE EXAM
2025 QUESTIONS WITH ANSWERS GUARANTEE A+
✔✔What type of customer typically requires the salesperson to exert extra effort in
order to close the sale
within a reasonable period of time? - ✔✔Slow/Methodical. These customers may
require more of your time because they lack confidence and are
indecisive—they have trouble making the final decision to buy. Domineering/Superior
customers are
overly confident customers who feel they know more and are better than the average
person. Dishonest
customers attempt to avoid paying part or all of the price of a good or service.
Disagreeable customers
are unpleasant and hard to help.
✔✔Which of the following is the best course of action to take if a financial client reports
a problem with
her/his portfolio: - ✔✔Apologize and resolve the problem immediately. Finance
professionals are most likely to build customer
loyalty and retention if they resolve any client problems and complaints as soon as
possible. Waiting until
later to deal with the problem is unwise; while waiting for a call back, the client may
become even more
upset than s/he already is. Before involving a manager, finance professionals should
attempt to resolve
their clients' problems themselves. While waiving the client's fees for future transactions
can benefit the
client, doing so doesn't necessarily resolve the client's problem.
✔✔Which of the following is typically an effective method to build trusting relationships
with financial clients: - ✔✔Explaining the benefits and drawbacks of different financial
products. One responsibility that finance
professionals have is to provide complete product information to clients. This means
explaining the
benefits as well as the drawbacks of different financial products so that clients can make
educated
decisions about what to do with their money. When finance professionals communicate
openly, their
clients are much more likely to trust them. And, when clients trust their finance
professionals, they are
more likely to become loyal and satisfied customers. Rather than using precise
technical language and
financial jargon, finance professionals can build more trust by talking to their clients in
language that the
,clients understand. Rather than asking others in the organization to follow up after sales
transactions,
finance professionals can build trusting relationships with clients by following up with
them themselves.
Although some clients may only want to be contacted when problems arise, most clients
prefer to stay in
communication with their finance professionals on a more regular basis.
✔✔The King Investment Company is developing a data-mining model to forecast
customer profitability. What
type of prediction would be most appropriate for this study? - ✔✔Regression
✔✔Georgia peanuts that are available at a grocery store in Colorado is an example of a
product that has
__________ utility. - ✔✔Place. Products that are available where they are needed have
place utility. Making the peanuts available
in Colorado where they are not grown gives them place utility. Time utility occurs when
products are
available when they are needed. Form utility involves altering the shape of a product,
and possession
utility is created when the ownership of a product is transferred from the seller to the
person or business
that will use it.
✔✔Which of the following is not a way that businesses contribute to society: - ✔✔By
minimizing profits. Businesses can show their social responsibility by maximizing their
profits. This
enables them to have funds to contribute. Socially responsible businesses develop new
products that
improve the quality of life, provide employment opportunities, and support many
different kinds of
community cultural activities. Businesses also contribute to society by paying taxes,
contributing to
charities, participating in community events, and offering job training and retraining
programs.
✔✔When financial institutions follow government regulations pertaining to the industry,
the institutions are - ✔✔In compliance. There are various government regulations
pertaining to the finance industry that financial
institutions are required to follow. When financial institutions follow the regulations, they
are in
compliance with the laws and regulations. Many of these laws affect how financial
information is reported,
and how the privacy of personal financial information is protected. When financial
institutions follow
, government regulations, they are abiding by the law rather than being ethical. Being
ethical is voluntary
whereas being in compliance is required by law. The financial institutions are not in
mediation or being
independent.
✔✔Which of the following is a public good that is provided by the government: -
✔✔Interstate highways. Public goods are goods and services that are used by all
people and cannot be
withheld from those who don't help to pay for them. Marketing research, automobiles,
and private schools
are goods and services provided by private businesses.
✔✔The amount of work that an individual can produce in a given period of time is a
measure of - ✔✔Worker productivity. Worker productivity is often measured by the
amount of work produced in an hour or
a day. Specialization, job simplification, and division of labor are methods of increasing
worker
productivity. Specialization is the process of making the best use of resources in the
production of goods
and services. Division of labor is dividing a large job into units, or job tasks, and
assigning an individual to
do each of the tasks. Job simplification is the process of making changes in a job task
so that the job can
be done more easily or quickly.
✔✔A worker who completes a transaction in which money changes hands but no
receipts are kept and the
income is not reported to the government is participating in - ✔✔The underground
economy. An underground economy is one in which money transactions take place
(such as tips received in a restaurant), but since no record is made of the transaction
and the income is
not reported to the government, the GDP does not reflect the exchange. The
underground economy
actually reduces the GDP. An uncounted production involves goods and services that
are not sold in the
marketplace so their value can only be estimated. Double counting involves counting a
product or service
more than once. Accuracy in counting refers to the vast amount of information that must
be collected to
calculate GDP which can easily lead to error in the final figure.
✔✔Which of the following is an essential element of responsible behavior: -
✔✔Honesty. Responsible behavior is made up of five essential elements—honesty,
compassion/respect,
2025 QUESTIONS WITH ANSWERS GUARANTEE A+
✔✔What type of customer typically requires the salesperson to exert extra effort in
order to close the sale
within a reasonable period of time? - ✔✔Slow/Methodical. These customers may
require more of your time because they lack confidence and are
indecisive—they have trouble making the final decision to buy. Domineering/Superior
customers are
overly confident customers who feel they know more and are better than the average
person. Dishonest
customers attempt to avoid paying part or all of the price of a good or service.
Disagreeable customers
are unpleasant and hard to help.
✔✔Which of the following is the best course of action to take if a financial client reports
a problem with
her/his portfolio: - ✔✔Apologize and resolve the problem immediately. Finance
professionals are most likely to build customer
loyalty and retention if they resolve any client problems and complaints as soon as
possible. Waiting until
later to deal with the problem is unwise; while waiting for a call back, the client may
become even more
upset than s/he already is. Before involving a manager, finance professionals should
attempt to resolve
their clients' problems themselves. While waiving the client's fees for future transactions
can benefit the
client, doing so doesn't necessarily resolve the client's problem.
✔✔Which of the following is typically an effective method to build trusting relationships
with financial clients: - ✔✔Explaining the benefits and drawbacks of different financial
products. One responsibility that finance
professionals have is to provide complete product information to clients. This means
explaining the
benefits as well as the drawbacks of different financial products so that clients can make
educated
decisions about what to do with their money. When finance professionals communicate
openly, their
clients are much more likely to trust them. And, when clients trust their finance
professionals, they are
more likely to become loyal and satisfied customers. Rather than using precise
technical language and
financial jargon, finance professionals can build more trust by talking to their clients in
language that the
,clients understand. Rather than asking others in the organization to follow up after sales
transactions,
finance professionals can build trusting relationships with clients by following up with
them themselves.
Although some clients may only want to be contacted when problems arise, most clients
prefer to stay in
communication with their finance professionals on a more regular basis.
✔✔The King Investment Company is developing a data-mining model to forecast
customer profitability. What
type of prediction would be most appropriate for this study? - ✔✔Regression
✔✔Georgia peanuts that are available at a grocery store in Colorado is an example of a
product that has
__________ utility. - ✔✔Place. Products that are available where they are needed have
place utility. Making the peanuts available
in Colorado where they are not grown gives them place utility. Time utility occurs when
products are
available when they are needed. Form utility involves altering the shape of a product,
and possession
utility is created when the ownership of a product is transferred from the seller to the
person or business
that will use it.
✔✔Which of the following is not a way that businesses contribute to society: - ✔✔By
minimizing profits. Businesses can show their social responsibility by maximizing their
profits. This
enables them to have funds to contribute. Socially responsible businesses develop new
products that
improve the quality of life, provide employment opportunities, and support many
different kinds of
community cultural activities. Businesses also contribute to society by paying taxes,
contributing to
charities, participating in community events, and offering job training and retraining
programs.
✔✔When financial institutions follow government regulations pertaining to the industry,
the institutions are - ✔✔In compliance. There are various government regulations
pertaining to the finance industry that financial
institutions are required to follow. When financial institutions follow the regulations, they
are in
compliance with the laws and regulations. Many of these laws affect how financial
information is reported,
and how the privacy of personal financial information is protected. When financial
institutions follow
, government regulations, they are abiding by the law rather than being ethical. Being
ethical is voluntary
whereas being in compliance is required by law. The financial institutions are not in
mediation or being
independent.
✔✔Which of the following is a public good that is provided by the government: -
✔✔Interstate highways. Public goods are goods and services that are used by all
people and cannot be
withheld from those who don't help to pay for them. Marketing research, automobiles,
and private schools
are goods and services provided by private businesses.
✔✔The amount of work that an individual can produce in a given period of time is a
measure of - ✔✔Worker productivity. Worker productivity is often measured by the
amount of work produced in an hour or
a day. Specialization, job simplification, and division of labor are methods of increasing
worker
productivity. Specialization is the process of making the best use of resources in the
production of goods
and services. Division of labor is dividing a large job into units, or job tasks, and
assigning an individual to
do each of the tasks. Job simplification is the process of making changes in a job task
so that the job can
be done more easily or quickly.
✔✔A worker who completes a transaction in which money changes hands but no
receipts are kept and the
income is not reported to the government is participating in - ✔✔The underground
economy. An underground economy is one in which money transactions take place
(such as tips received in a restaurant), but since no record is made of the transaction
and the income is
not reported to the government, the GDP does not reflect the exchange. The
underground economy
actually reduces the GDP. An uncounted production involves goods and services that
are not sold in the
marketplace so their value can only be estimated. Double counting involves counting a
product or service
more than once. Accuracy in counting refers to the vast amount of information that must
be collected to
calculate GDP which can easily lead to error in the final figure.
✔✔Which of the following is an essential element of responsible behavior: -
✔✔Honesty. Responsible behavior is made up of five essential elements—honesty,
compassion/respect,
