FBLA Study Guide UPDATED Exam
Questions and CORRECT Answers
Single Discount - CORRECT ANSWER - Use this when you are trying to find how much do I
have to pay after the discount is taken off.
Discount Amount - CORRECT ANSWER - This is the amount of discount charged when a
percentage is taken off from my list price.
Discount Amount - CORRECT ANSWER - It is what my price tag says - what I actually paid
to the cashier.
Multiple Discounts - CORRECT ANSWER - When you want to charge multiple discounts on
a product.
Single Equivalent Discount - CORRECT ANSWER - When you want to combine every
discount into one single discount...
The Selling Price of a Product - CORRECT ANSWER - This is one of 2 ways to find selling
price and used a lot. This is used when cost, expenses and profit are mentioned. You'll have to
find them.
Markup Amount - CORRECT ANSWER -
The Selling Price of a Product Using the Markup Amount - CORRECT ANSWER - This is
one of 2 ways to find selling price. This is used when markup in dollar amounts are given.
Markup on Cost Percentage - CORRECT ANSWER - "How much have you increased the
price for not in amount but in percentage based on cost?" Usually you have to find other
variables to calculate this!
, Markup on Selling Price Percentage - CORRECT ANSWER - "How much have you increased
the price for not in amount but in percentage based on selling price?" Usually you have to find
other variables to calculate this!
The Sale Price of a Product - CORRECT ANSWER - This is taking the selling price and
taking the discount off to find a new discounting selling price.
Markdown Amount - CORRECT ANSWER - WHEN THEY GIVE YOU DISCOUNT
PERCENTAGE Look for words like "reduced," "markdown,". Find your markdown amount in
dollars
Markdown Amount - CORRECT ANSWER - WHEN THEY GIVE YOU DISCOUNT Selling
price onsale Look for words like "reduced," "markdown,". Find your markdown amount in
dollars
Markdown Percent - CORRECT ANSWER - "Calculate markdown percentage" "Calculate
discount percentage" Usually used alone
Maintained Markup - CORRECT ANSWER -
Simple Interest - CORRECT ANSWER - I=PvxRxT
Interest paid when the rate and time is applied on my principle amount.
Simple interest looking for Rate - CORRECT ANSWER - R=I/PVxT
Calculate how much rate is charged on the principle
Simple Interest looking for Time - CORRECT ANSWER - T=I/PvxR
Maturity Value Formula - CORRECT ANSWER - FV=PV(1+RxT)
"Find the value today"
Questions and CORRECT Answers
Single Discount - CORRECT ANSWER - Use this when you are trying to find how much do I
have to pay after the discount is taken off.
Discount Amount - CORRECT ANSWER - This is the amount of discount charged when a
percentage is taken off from my list price.
Discount Amount - CORRECT ANSWER - It is what my price tag says - what I actually paid
to the cashier.
Multiple Discounts - CORRECT ANSWER - When you want to charge multiple discounts on
a product.
Single Equivalent Discount - CORRECT ANSWER - When you want to combine every
discount into one single discount...
The Selling Price of a Product - CORRECT ANSWER - This is one of 2 ways to find selling
price and used a lot. This is used when cost, expenses and profit are mentioned. You'll have to
find them.
Markup Amount - CORRECT ANSWER -
The Selling Price of a Product Using the Markup Amount - CORRECT ANSWER - This is
one of 2 ways to find selling price. This is used when markup in dollar amounts are given.
Markup on Cost Percentage - CORRECT ANSWER - "How much have you increased the
price for not in amount but in percentage based on cost?" Usually you have to find other
variables to calculate this!
, Markup on Selling Price Percentage - CORRECT ANSWER - "How much have you increased
the price for not in amount but in percentage based on selling price?" Usually you have to find
other variables to calculate this!
The Sale Price of a Product - CORRECT ANSWER - This is taking the selling price and
taking the discount off to find a new discounting selling price.
Markdown Amount - CORRECT ANSWER - WHEN THEY GIVE YOU DISCOUNT
PERCENTAGE Look for words like "reduced," "markdown,". Find your markdown amount in
dollars
Markdown Amount - CORRECT ANSWER - WHEN THEY GIVE YOU DISCOUNT Selling
price onsale Look for words like "reduced," "markdown,". Find your markdown amount in
dollars
Markdown Percent - CORRECT ANSWER - "Calculate markdown percentage" "Calculate
discount percentage" Usually used alone
Maintained Markup - CORRECT ANSWER -
Simple Interest - CORRECT ANSWER - I=PvxRxT
Interest paid when the rate and time is applied on my principle amount.
Simple interest looking for Rate - CORRECT ANSWER - R=I/PVxT
Calculate how much rate is charged on the principle
Simple Interest looking for Time - CORRECT ANSWER - T=I/PvxR
Maturity Value Formula - CORRECT ANSWER - FV=PV(1+RxT)
"Find the value today"
