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5th Form Six Week Test

Total questions: 50

Worksheet time: 25mins

Name
Class
Date
1.

The place where goods are stored

a)

supply chain

b)

streamlined

c)

raw materials

d)

warehouses

2.

Parts you need to construct something

a)

components

b)

raw materials

c)

clients

d)

supply chain

3.

The series of processes and companies involved in making and selling a product

a)

order

b)

logistics

c)

stock

d)

supply chain

4.

The 'middleman' between the manufacturer and retailer

a)

consumers

b)

suppliers

c)

distributors

d)

company

5.

The basic substances used to make something

a)

factory

b)

distribution

c)

stock

d)

raw materials

6.

what is the function of transportation

a)

For Product Movement

b)

For Supply

c)

For Convienience

d)

all of the above

7.

advantages of air transport

a)

high speed

b)

high costs

c)

slow

d)

more risks

8.

Transportation functionality includes _________

a)

Product Movement

b)

Product Storage

c)

Neither A or B

d)

Both A & B

9.

Reverse logistics is required because

a)

Goods are defective

b)

Goods are unsold

c)

The customer simply change their minds

d)

All of above

10.

Which of the following is NOT a reason that companies are depending more on their suppliers?

a)

More focus on core competencies

b)

Need for more flexibilities

c)

More control over their suppliers

d)

Desire to share risks

11.

Reverse logistics is an activity that ensures _____________.

a)

Productivity

b)

Quick response

c)

Reuse and recycling of products

d)

Quality standards

12.

.................... tends to focus upon transportation and distribution

a)

Supply Chain Management

b)

Logistics Management

c)

Project Management

d)

Distribution Management

13.

Exchange of Information is a movement in the supply chain system

a)

Yes

b)

No

14.

Which of the following are activities in the supply chain operations?

a)

Transformation of natural resources

b)

Movement and storage of natural resources

c)

Processing of raw materials into finished goods

d)

Storage of work in progress and finished goods

15.

________ is not a component of logistics and supply chain operations.

a)

Promotion

b)

Forward and reverse flow

c)

Warehousing

d)

Insurance

16.

_______________help (s) ports and the shipping community to increase productivity and save costs through the greater use of information technology and the internet

a)

Portnet

b)

Telemarketing and e-commerce

c)

Geographical Information Systems

d)

Global Positioning Systems

17.

______ is the centre or specific designated area identified to ideal with activities related to transportation, organisation separation and co-ordinating goods for national and international trade.

a)

Portnet

b)

logistic

c)

Logistic Hub

d)

E-commerce

18.

When a business imports raw materials into the country, it needs to apply for a document which gives official permission to import the item. Which document is it?

a)

Patent

b)

Invoice

c)

Bill of lading

d)

Import licence

19.

The middlemen who are in closest contact to the customers are:

a)

Wholesalers

b)

Retailers

c)

Agents

d)

Producers

20.

Raw materials and products can be transported by

a)

Road

b)

Rail

c)

Air

d)

Sea

e)

All of these

21.

Supply chain facilities include...

a)

Retail outlets

b)

Warehouses

c)

Processing Centers

d)

Offices

22.

Who is the one receiving components from the supplier to produce a finished goods or services?

a)

Seller

b)

Producer

c)

Retailer

d)

Customer

23.
Act of purchasing assets (stocks, bonds, property) with expectation that they will increase in value over time.
a)
Withdrawing
b)
Depositing
c)
Time Value of Money
d)
Investing
24.
Refers to the likelihood that an investment will decrease in value.
a)
Chance
b)
Gamble
c)
Stake
d)
Risk
25.
A portion of your income that you do not spend on your current needs, but instead set aside for future needs.
a)
Collateral
b)
Discretionary Income
c)
Savings
d)
Net Worth
26.
An account you set up at a depository institution where you put funds for future use.
a)
Checking Account
b)
Christmas Fund
c)
Vacation Fund
d)
Savings account
27.

All of the following are forms of savings except____.

a)

sou-sou

b)

bank loan

c)

deposits In financial institutions

d)

short term fixed deposits

28.

______ is where stocks and shares in companies are bought and sold.

a)

The stock market

b)

Financial institution

c)

Government securities

d)

Mutual funds

29.

____is a piece of paper showing that an investor has lent the government money for a given period of time.

a)

A Bond

b)

A government security

c)

A mutual fund

d)

A Collateral

30.

All of the following are forms of short-term Financing except_______

a)

Trade credit

b)

bond

c)

Commercial bank loans

d)

Promissory notes

31.

Hire purchase is an example of ________.

a)

installment credit

b)

indigenous credit

c)

private money lenders

d)

commercial bank loans

32.

Sou-sou is an example of_______.

a)

promissory notes

b)

installment credit

c)

indigenous credit

d)

private money lenders

33.

________ is the loan extended by one trader to another when the goods and services are bought on credit.

a)

Private money lenders

b)

Trade credit

c)

Installment credit

d)

Indigenous credit

34.

_______ is the practice of funding a project or venture by raising money from a large number of people who each contribute a relatively small amount, typically via the internet.

a)

Factoring

b)

Venture capitalists

c)

Crowd funding

d)

Angel investors

35.

____ and _____ provide funding for businesses that find it difficult to raise finance.

a)

Advances from customers

b)

Factoring

c)

Venture capitalists

d)

Angel investors

36.

The business of purchasing debts from clients at a discount and making a profit from their collection is called_____.

a)

trade credit

b)

commercial bank loans

c)

factoring

d)

promissory notes

37.

______is a company that pools money from many investors and invests the money in securities such as stocks, bonds, and short-term debt.

a)

Financial institution

b)

Mutual fund

c)

Factoring

d)

Venture capitalists

38.

Which type of deposits gives highest rate of interest?

a)

Current Deposits

b)

Fixed deposit

c)

Recurring Deposit

d)

None of these

39.

Which one is the primary function of commercial bank?

a)

Receiving deposits

b)

Controlling loan

c)

Issuing note

d)

Leading money market

40.

Acting as a lender of last resort, a central bank lends to

a)

Stock exchange

b)

Does not lend

c)

Money Market

d)

Commercial bank

41.

What is the name of Jamaica's Central Bank

a)

Scotia Bank

b)

National Commercial Bank

c)

Bank of Jamaica

d)

Credit Union

42.

Credit Unions

a)

These banks specialise in helping large business organisations to raise finance to fund their operations and expansion, usually through helping them to issue an sell stocks and shares on the stock market.

b)

These are also known as savings and loans associations or building societies.

c)

This is a co-operative, not-for-profit organisation, owned by and for its members. They provide low cost loans for people on low incomes.

d)

This type of bank offers services based on the principles of Sharia Law which forbids interest charges and payments.

43.
Which one of the following are financial institutions?
a)
bank and credit union
b)
library and hospital
c)
school and museum
d)
Starbucks and Wal-Mart
44.

You received money from the government to pay for college.

a)

A scholarship

b)

A grant

c)

Work Study

d)

Loan

45.

Which of the following is not a source of long-term finance?

a)

Bonds

b)

Mortgage

c)

Debentures

d)

Trade credit

46.

Countries with few natural resources must depend on ____.

a)

exports

b)

imports

c)

tariffs

d)

quotas

47.

All of the following are forms of savings except_______.

a)

Sou sou

b)

mutual funds

c)

deposits in financial institutions

d)

short term fixed deposits

48.

You are placed in charge of your household budget for the month. What is one of the first things you should examine as you plan the budget?

a)

The number of visitors you will have in the next month

b)

The average income for your neighborhood

c)

The number of chores each person has

d)

The income for the household

49.

What are some benefits of following a budget for your household?

a)

You can plan for saving money.

b)

You can see where you need to adjust your spending

c)

You can see how other households are spending their time.

d)

You can make sure your household is not spending more than it is earning.

e)

You are in control of your money.

50.

Your household income is $4000 a month.

Here are the household's expenses:

Savings: $400

Mortgage: $1200

Utilities (Electric, Water): $300

Groceries: $500

Phone Service: $200

Vehicle/Transportation Costs: $600

Entertainment: $500


Does your household have enough income to pay for all of the expenses?

a)

Yes, by $500

b)

No, by $300

c)

Yes, by $300

d)

No, by $200