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DECA FINANCE CLUSTER EXAM LATEST
VERSION WITH ALL QUESTIONS AND CORRECT
DETAILED SOLUTIONS JUST RELEASED
Question: 5. Which of the following statements best describes the taxation of Roth IRAs:
A. Contributions and withdrawals during retirement are both taxed.
B. Contributions are tax deductible, but withdrawals during retirement are taxed.
C. Contributions are taxed, but withdrawals during retirement are not.
D. Contributions and withdrawals during retirement are tax deductible. - CORRECT
ANSWER✔✔C
Q:1. Which of the following is a type of intangible business property that is protected by law:
A. Equipment
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B. Inventory
C. Acreage
D. Trademark - CORRECT ANSWER✔✔D
Question: 2. When filing a tort against a business, the plaintiff must establish that the
defendant
A. damaged property intentionally.
B. breached the duty of care.
C. conspired with a competitor.
D. violated the doctrine of sovereign immunity. - CORRECT ANSWER✔✔B
Question: 3. Which of the following is an example of a voluntary debtor-creditor relationship:
A. Requiring specific information
B. Receiving a monetary gift
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C. Obtaining a loan from a bank
D. Owing punitive damages - CORRECT ANSWER✔✔C
Question: 4. Chris purchased 500 shares of microcap HRR stock. Then, he posted false
information about HRR on several investment websites to hype up the stock. After driving up
the price of HRR stock, Chris quickly sold all of his stock in the company and earned a large
profit. The price of the stock then fell, leaving HRR investors with worthless stock. What type of
investment scam did Chris commit?
A. Phishing
B. Pyramid scheme
C. Ponzi scheme
D. Pump and dump - CORRECT ANSWER✔✔D
Question: 6. Compliance in the finance industry involves financial institutions operating within
A. specific territories.
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B. regulatory guidelines.
C. organizational plans.
D. different relationships. - CORRECT ANSWER✔✔B
Question: 7. In general, a governance, risk, and compliance (GRC) software system identifies
and measures risk; monitors the risk-management system; routinely checks adherence to
company-wide policies; and ensures compliance with
A. reporting requirements.
B. union demands.
C. product standards.
D. contingency plans. - CORRECT ANSWER✔✔A
Question: 8. While conducting a staff meeting, the speaker noticed that Colin was texting on
his smartphone. Colin's nonverbal behavior indicates that he was
A. distracted.
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SUCCESS!
DECA FINANCE CLUSTER EXAM LATEST
VERSION WITH ALL QUESTIONS AND CORRECT
DETAILED SOLUTIONS JUST RELEASED
Question: 5. Which of the following statements best describes the taxation of Roth IRAs:
A. Contributions and withdrawals during retirement are both taxed.
B. Contributions are tax deductible, but withdrawals during retirement are taxed.
C. Contributions are taxed, but withdrawals during retirement are not.
D. Contributions and withdrawals during retirement are tax deductible. - CORRECT
ANSWER✔✔C
Q:1. Which of the following is a type of intangible business property that is protected by law:
A. Equipment
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B. Inventory
C. Acreage
D. Trademark - CORRECT ANSWER✔✔D
Question: 2. When filing a tort against a business, the plaintiff must establish that the
defendant
A. damaged property intentionally.
B. breached the duty of care.
C. conspired with a competitor.
D. violated the doctrine of sovereign immunity. - CORRECT ANSWER✔✔B
Question: 3. Which of the following is an example of a voluntary debtor-creditor relationship:
A. Requiring specific information
B. Receiving a monetary gift
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C. Obtaining a loan from a bank
D. Owing punitive damages - CORRECT ANSWER✔✔C
Question: 4. Chris purchased 500 shares of microcap HRR stock. Then, he posted false
information about HRR on several investment websites to hype up the stock. After driving up
the price of HRR stock, Chris quickly sold all of his stock in the company and earned a large
profit. The price of the stock then fell, leaving HRR investors with worthless stock. What type of
investment scam did Chris commit?
A. Phishing
B. Pyramid scheme
C. Ponzi scheme
D. Pump and dump - CORRECT ANSWER✔✔D
Question: 6. Compliance in the finance industry involves financial institutions operating within
A. specific territories.
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B. regulatory guidelines.
C. organizational plans.
D. different relationships. - CORRECT ANSWER✔✔B
Question: 7. In general, a governance, risk, and compliance (GRC) software system identifies
and measures risk; monitors the risk-management system; routinely checks adherence to
company-wide policies; and ensures compliance with
A. reporting requirements.
B. union demands.
C. product standards.
D. contingency plans. - CORRECT ANSWER✔✔A
Question: 8. While conducting a staff meeting, the speaker noticed that Colin was texting on
his smartphone. Colin's nonverbal behavior indicates that he was
A. distracted.
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