FBLA Introduction to
Financial Math Exam
Questions Provided
with A+ Graded
Answers |Latest
Updated 2026
, per diem
"per day", refers to a daily fixed payment to an employee
gross pay
the total amount of an employee's earnings before deductions are taken out
gratuity
a tip
federal income tax return
Forms submitted to figure out if you should receive a refund or pay in for federal income
taxes. Uses form 1040EZ, 1040, or 1040A
Rule of 78 Loan
Gets the name from the sum of 1 - 12 (number of months in a year). Once the sum of the
months is calculated the lender then weights the interest payments in reverse order
applying greater weight to the earlier months. For a one year loan the weighting factor
would be 12/78 of the total interest in the first month, 11/78 in the second month, 10/78 in the
third month, etc. For a two year loan the weighting factor would be 24/300 in the first
month, 23/300 in the second month, 22/300 in the third month, etc.
Financial Math Exam
Questions Provided
with A+ Graded
Answers |Latest
Updated 2026
, per diem
"per day", refers to a daily fixed payment to an employee
gross pay
the total amount of an employee's earnings before deductions are taken out
gratuity
a tip
federal income tax return
Forms submitted to figure out if you should receive a refund or pay in for federal income
taxes. Uses form 1040EZ, 1040, or 1040A
Rule of 78 Loan
Gets the name from the sum of 1 - 12 (number of months in a year). Once the sum of the
months is calculated the lender then weights the interest payments in reverse order
applying greater weight to the earlier months. For a one year loan the weighting factor
would be 12/78 of the total interest in the first month, 11/78 in the second month, 10/78 in the
third month, etc. For a two year loan the weighting factor would be 24/300 in the first
month, 23/300 in the second month, 22/300 in the third month, etc.
