FP2 - Unit 5 Review

FP2 - Unit 5 Review

10th Grade

41 Qs

quiz-placeholder

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FP2 - Unit 5 Review

FP2 - Unit 5 Review

Assessment

Quiz

Business

10th Grade

Hard

Created by

Christine Glasner

Used 4+ times

FREE Resource

41 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Supervised by the Federal Reserve Board, Triton Inc. provides investment advisory services, insurance underwriting, securities underwriting, and merchant banking services. Triton Inc. is most likely which business type?

credit union

accounting firm

commodities investor

financial holding company

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Griffin is meeting with the financial adviser to see which investment would allow him to report less on his tax return in order to have less money taken by the government. Which type of investment is Griffin looking for?

A tax shelter

a tax bracket

a subsidiary shelter

a gains tax

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Upon the death of his uncle, Erik was told he would have to pay taxes on the car his uncle left to him. The uncle's wife was free from paying taxes on the items left to her. Why?

His aunt's earning potential is diminished due to age.

Estate taxes only apply to heirs and not living spouses.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Rhondi paid a tax that was included in the price of his new Porsche. This ad valorem tax is called a/an:

gift tax

sales tax

excise tax

luxury tax

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Shik has an investment that bears interest that is free from federal or state income tax. This investment is considered:

tax-exempt

tax-deferred

a value stock

a discretionary tax

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Six months ago, Xander bought 500 shares of stock at $25 per share. Today, he sold all 500 shares for $48 per share. What type of tax is Xander obligated to pay as a result of this financial transaction?

Income Tax

Capital Gains Tax

Property Tax

Sales Tax

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An individual with a higher income who pays a larger percentage of income tax than an individual with a lower income is in a:

A. flat tax system.

B. regressive tax system.

C. progressive tax system.

D. proportional tax system.

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