Finance Quiz: Part 8
Total Questions : 25 Scoring System: Correct Answer : +1 points Incorrect Answer : -1 point Not Answered : 0 point The final result will appear at the end. All The Best.
- What is a target market?
- What is a business incubator?
- What is the importance of networking in entrepreneurship?
- What is the difference between a product and a service in entrepreneurship?
- What is an exit strategy in entrepreneurship?
- What is a lean startup?
- What is credit?
- What is a credit score?
- Which organization calculates the FICO credit score?
- What is the highest possible FICO credit score?
- What is a good credit utilization ratio?
- What factors affect your credit score?
- Which of the following is NOT a credit bureau?
- How long does negative information generally stay on your credit report?
- Which of the following is considered a good credit score?
- What does a secured credit card require?
- What is the purpose of a grace period on a credit card?
- What is a hard inquiry on a credit report?
- Which of the following actions can negatively impact your credit score?
- What is the purpose of a credit freeze?
- How often are you entitled to a free copy of your credit report from each credit bureau?
- What is the term used for the process of gradually shifting investments from higher-risk assets to lower-risk assets as retirement approaches?
- What is the general rule of thumb regarding the percentage of your final salary that you should aim to replace with retirement income?
- What is the term used for the practice of setting aside a certain percentage of your income for retirement savings before allocating funds to other expenses?
- Which of the following statements about Social Security retirement benefits is true?
- What is the term used for the strategy of gradually reducing work hours or transitioning to part-time work before fully retiring?
The specific demographic group a business aims to serve
The total number of customers in a given industry
The competition in a particular market segment
A government agency that provides financial support to startups
A legal entity that protects entrepreneurs from liabilities
A program that offers resources and support to help startups grow
It provides opportunities for collaboration and partnerships
It allows entrepreneurs to promote their products or services
It helps entrepreneurs secure venture capital funding
A product is physical, while a service is virtual
A product is tangible, while a service is intangible
A product is sold to businesses, while a service is sold to consumers
The plan for closing down a business and liquidating its assets
The process of selling a business to another company or individual
The strategy for expanding a business into international markets
A startup that focuses on sustainable and environmentally friendly practices
A startup with a minimal budget for marketing and advertising
A startup that uses a systematic and iterative approach to product development
Borrowed money to be repaid later
A measure of a person's debt
A measure of a person's income
A numerical representation of a person's creditworthiness
The amount of debt a person has
The interest rate on a credit card
Internal Revenue Service
Federal Trade Commission
Fair Isaac Corporation
500
850
750
10%
50%
30%
Payment history and credit utilization
Income and employment history
Social media activity
Federal Reserve
TransUnion
Experian
1 year
7 years
3 years
450
600
750
A co-signer
Collateral or a deposit
A high credit score
To earn rewards points
To avoid interest charges on purchases
To extend the due date for payments
A request for a credit limit increase
A request for a credit score review
A request for credit by a lender
Keeping credit card balances low
Opening a new credit account
Paying bills on time
To prevent unauthorized access to your credit report
To increase your credit limit temporarily
To reduce interest rates on existing loans
Twice a year
Every six months
Once a year
Dollar-cost averaging
Diversification
Asset allocation
90-100%
70-80%
50-60%
Delayed gratification
Automatic enrollment
Pay yourself first
Benefits can be claimed as early as age 62
The benefit amount is the same for everyone
Benefits are only available to low-income individuals
Delayed retirement
Phased retirement
Early retirement