Finance Cluster Exam DECA 2019-2020
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Questions and Answers

Sheree, who owns a popular family-style restaurant, recently asked her attorney to prepare a document to protect her famous chicken noodle soup recipe. Sheree signed the document containing the recipe and had it notarized. This document is designed to protect Sheree's

  • trade secret. (correct)
  • patent.
  • trademark.
  • copyright.
  • What is typically the most significant role of a compliance officer in a bank, investment company, or insurance company?

    To ensure that the company is following financial laws

    An annual audit is an example of a(n)

  • corrective
  • reconciliation
  • internal control. (correct)
  • detective
  • Which of the following is a benefit of using artificial intelligence in compliance:

    <p>Reduces human error</p> Signup and view all the answers

    Mooreshead Bank has placed a claim on Marc's property to protect Mooreshead from financial loss if Marc is unable to pay back his bank loan. Mooreshead has secured a ______ against Marc's property.

    <p>lien</p> Signup and view all the answers

    Charlotte, an investment advisor, does more than simply sell stocks and bonds. She also provides investing advice to her clients on an ongoing basis. She talks with clients about their short-term and long-term investing goals and helps them select the investments that are best for them. Charlotte acts as her clients'

    <p>fiduciary</p> Signup and view all the answers

    Robert has learned that his company will announce a round of layoffs in two weeks. Robert decides to sell some of the stock options he had in the company before the news of the layoffs goes public. He tells his friends to do the same. This is an example of

    <p>insider trading.</p> Signup and view all the answers

    Raheem recently sold an investment that he had owned for five years. He sold the investment for considerably more money than he had spent on it originally. Raheem is likely to owe tax on the profit that he made from the sale of the investment.

    <p>long-term capital gains</p> Signup and view all the answers

    What is a benefit of having established policies for taking breaks and requesting time off?

    <p>Less confusion among employees</p> Signup and view all the answers

    Which of the following is a good way to end a business phone call:

    <p>Offer your email address if the caller needs additional information.</p> Signup and view all the answers

    Study Notes

    Finance Cluster Exam

    • This is a timed exam for the occupational area of finance.
    • Students will have a set amount of time to complete all questions.
    • Posting these materials online is a copyright violation.
    • The exam was developed specifically for DECA's 2019-2020 program.
    • The exam items are written for use at DECA's ICDC.
    • Performance indicators are at the prerequisite, career-sustaining, and specialist levels.

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    Description

    Test your knowledge in the field of finance with this timed exam designed for DECA's 2019-2020 program. The exam assesses skills across various performance indicators and is suitable for students preparing for ICDC. Emphasize your understanding of the occupational area of finance to succeed.

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