DECA Finance Cluster Exam

Which of the following best represents the correct order for organizing a job that must be complete:

• Identify, classify, prioritize, schedule, perform

• Classify, identify, prioritize, perform, schedule

• Identify, prioritize, classify, schedule, perform

• Prioritize, identify, classify, perform, schedule

Which of the following statements most accurately describes the financial-services industry today:

• Banks, insurance companies, securities firms, and other financial institutions are sometimes owned by a single large firm offering a complete range of financial services.

• The financial-services industry is largely unregulated, with little federal oversight.

• The only place to pursue a career as a securities broker is a traditional financial securities firm on Wall Street.

• It is highly segmented, with separate businesses for separate services.

Tiana is responsible for receiving all shipments for the Castle of Chocolate. She fails to notice that several items that her business ordered and paid for were not shipped. Her error is most likely to

• create unhappy customers.

• decrease inventory cost.

• increase inventory cost.

• increase shipping costs.

Which of the following is an example of a long-term business goal:

• Develop departmental budgets

• Expand into new markets

• Hire an accountant

• Create a sales presentation

Which of the following are common categories of commodities:

• Metals, grains, and consumer goods

• Energy, grains, and consumer goods

• Energy, metals, and consumer goods

• Energy, metals, and grains

One factor that has stimulated financial globalization is an increase in

• foreign regulation.

• domestic investment preferences.

• protectionism.

• domestic competition.

Companies that effectively allocate costs

• increase profits and expenses.

• improve short-term and hurt long-term decision-making.

• spread costs among departments.

• determine one department to cover all costs.

If you are taking out a mortgage loan on a new home, which of the following is most likely to be used as collateral:

• Cash in your savings account

• Your car

• The new home

• Future paychecks

Which aspect of a company's financial statements can provide information about its bottom line?

• Cash flow trends

• Earnings and revenue growth

• Dividends paid

• Liabilities

Duncan works for a marketing firm, but he has decided to take a second job doing marketing for a local business. What is a potential ethical issue that could cause risks associated with this decision?

• Conflict of interest

• Lack of accountability

• Misuse of resources

• Product liability