DECA Finance Cluster Exam Practice
Questions and answers 2024\2025 A+
Grade
Which of the following is a reason to analyze financial data:
A. To develop financial models
B. To identify products which need to be recalled
C. To determine a business's qualitative characteristics
D. To understand accounting treatment
- correct answer D
Which of the following mutual funds is most likely to be tax inefficient:
A. A fund with a high portfolio turnover rate
B. A fund with a low portfolio turnover rate
C. A fund that concentrates on a specialized sector
D. A fund that attempts to match a broad market index
- correct answer A
Many cultural sensitivity issues can be solved by focusing on:
A. Stereotypes
B. Religious Differences
C. Business Goals
D. Communication
- correct answer D
A basic purpose of writing a daily activity report is to provide a(n)
A. basis for recommendations to employees.
,B. permanent record of simple but important facts.
C. overview of work completed and planned.
D. evaluation of the achievement of company goals.
- correct answer C
Which of the following are examples of deposit-taking financial institutions?
A. Commercial banks, corporations, and mutual savings banks
B. Credit unions, savings and loan associations, and commercial banks
C. Savings and loan associations, mutual savings banks, and insurance firms
D. Commercial banks, credit unions, and brokerages
- correct answer B
One way a company can reinforce its image is by
A. developing a financial plan.
B. training its employees.
C. conducting a competitive analysis.
D. identifying economic resources.
- correct answer B
What does the SQL statement "FROM" do at the beginning of a database clause?
A. Designates tables
B. Identifies filter criteria
C. Retrieves fields
D. Sorts query results
- correct answer A
A business creates an organizational design in which no employee has to report to more than one
manager at a time. This is following an organizational principle called
A. Unity of Command
B. Scalar Principle
, C. Span of Control
D. Line of Authority
- correct answer A
Why is it important for businesses to follow local health ordinances?
A. To prevent accidents in the workplace
B. To reduce the risk of widespread illness
C. To protect the natural environment
D. To lower the need for medical care facilities
- correct answer B
Employees need to have a thorough knowledge of business policies in order to
A. write operating manuals.
B. explain policies to customers.
C. schedule personal leave.
D. discuss policies with competitors.
- correct answer B
Which of the following pieces of legislation allows for the consolidation of commercial and investment
banks, insurance companies, and securities firms:
A. Glass-Stegall Act
B. Community Reinvestment Act
C. Sarbanes-Oxley Act of 2002
D. Gramm-Leach-Bliley Act
- correct answer D
The Melody Makers Music Company, a privately owned business, brings in $228,000 in sales during the
year. Its cost of goods sold totals $68,000, and it has operating expenses of $25,700 for the same year. If
the shop wanted to take out a loan to expand, what group of people would be the most interested in
this information?
A. Managers
B. Top executives
Questions and answers 2024\2025 A+
Grade
Which of the following is a reason to analyze financial data:
A. To develop financial models
B. To identify products which need to be recalled
C. To determine a business's qualitative characteristics
D. To understand accounting treatment
- correct answer D
Which of the following mutual funds is most likely to be tax inefficient:
A. A fund with a high portfolio turnover rate
B. A fund with a low portfolio turnover rate
C. A fund that concentrates on a specialized sector
D. A fund that attempts to match a broad market index
- correct answer A
Many cultural sensitivity issues can be solved by focusing on:
A. Stereotypes
B. Religious Differences
C. Business Goals
D. Communication
- correct answer D
A basic purpose of writing a daily activity report is to provide a(n)
A. basis for recommendations to employees.
,B. permanent record of simple but important facts.
C. overview of work completed and planned.
D. evaluation of the achievement of company goals.
- correct answer C
Which of the following are examples of deposit-taking financial institutions?
A. Commercial banks, corporations, and mutual savings banks
B. Credit unions, savings and loan associations, and commercial banks
C. Savings and loan associations, mutual savings banks, and insurance firms
D. Commercial banks, credit unions, and brokerages
- correct answer B
One way a company can reinforce its image is by
A. developing a financial plan.
B. training its employees.
C. conducting a competitive analysis.
D. identifying economic resources.
- correct answer B
What does the SQL statement "FROM" do at the beginning of a database clause?
A. Designates tables
B. Identifies filter criteria
C. Retrieves fields
D. Sorts query results
- correct answer A
A business creates an organizational design in which no employee has to report to more than one
manager at a time. This is following an organizational principle called
A. Unity of Command
B. Scalar Principle
, C. Span of Control
D. Line of Authority
- correct answer A
Why is it important for businesses to follow local health ordinances?
A. To prevent accidents in the workplace
B. To reduce the risk of widespread illness
C. To protect the natural environment
D. To lower the need for medical care facilities
- correct answer B
Employees need to have a thorough knowledge of business policies in order to
A. write operating manuals.
B. explain policies to customers.
C. schedule personal leave.
D. discuss policies with competitors.
- correct answer B
Which of the following pieces of legislation allows for the consolidation of commercial and investment
banks, insurance companies, and securities firms:
A. Glass-Stegall Act
B. Community Reinvestment Act
C. Sarbanes-Oxley Act of 2002
D. Gramm-Leach-Bliley Act
- correct answer D
The Melody Makers Music Company, a privately owned business, brings in $228,000 in sales during the
year. Its cost of goods sold totals $68,000, and it has operating expenses of $25,700 for the same year. If
the shop wanted to take out a loan to expand, what group of people would be the most interested in
this information?
A. Managers
B. Top executives
