ETS MFT EXAM BUSINESS, ACCOUNTING, ECONOMICS & MANAGEMENT REVIEW – ETS MAJOR FIELD
TEST – COMPLETE STUDY GUIDE AND PRACTICE QUESTIONS WITH ANSWERS A+ VERIFIED LATEST
VERSION (2026-2027)
1. 1. Secondary data usually costs less: In marketing research, a firm might consider using
secondary data over primary data because...
1. Secondary data usually costs less
2. Secondary data are usually more accurate
3. Primary data are usually non specific
4. Primary data are likely to be outdated
2. 1. Enforcement of internal policies: In organizational decision making, managers are able to
exercise the greatest degree of discretion in the...
1. Enforcement of internal policies
2. Settlement of legal disputes
3. Restructuring of outstanding loans
4. Compliance with federal regulations
3. 3. current assets less short term liabilities: The term "net working capital" refers to:
1. Inventories, receivables, and current notes and investments
2. Assets divided by liabilities
3. Current assets less short term liabilities
4. Net assets left over after subtracting cost of goods sold
4. (fixed costs + target profit) / (selling price per unit - variable cost per unit): -
required sales in units formula
5. 4. it requires proof of a breach of a statutory or common law duty: Which of the
following statements about the tort of negligence is true?
1. It cannot be used as a basis for liability for defensive products
2. It is a strict liability tort with no defenses
3. It requires proof of some intentional conduct
4. It requires proof of breach of a statutory or common law duty
6. 3. It documents the sequence of processing steps that take place in an
information system: Which of the following statements about a systems flowchart is true?
1. It is used in systems design to define and describe each piece of data
, ETS MFT EXAM BUSINESS, ACCOUNTING, ECONOMICS & MANAGEMENT REVIEW – ETS MAJOR FIELD
TEST – COMPLETE STUDY GUIDE AND PRACTICE QUESTIONS WITH ANSWERS A+ VERIFIED LATEST
VERSION (2026-2027)
2. It is a method of writing programs using only three basic constructs: sequence, selection, and repetition
3. It documents the sequence of processing steps that take place in an information system
4. It documents the logical design of an information system
7. 2. $5080
- don't count outstanding checks
- don't count deposit that hasn't appeared: On May 31, Company O's general ledger shows a
cash balance of $5,123. The May 31 bank statement shows a balance of $4,905. Other information is available as
follows:
A May 31 deposit of $300 does not appear on the bank statement; but a $3 service charge does.
A customer's $40 insuflcient funds check has been returned with the bank statement.
Outstanding checks of $10, $15, and $100 are identified on May
What is the correct cash balance on May 31?
1. $4,905
2. $5,080
3. $5,166
4. $5,204
8. 2. Return on the market portfolio: Within the context of the capital asset pricing model (CAPM),
the risk measure known as beta is often computed by regressing the return of the company's stock against the:
1. Return on the company's bonds
2. Return on the market portfolio
3. Change in the gross domestic product
4. Change in the consumer price index
9. 3. either job j or job k: A project consists of 150 jobs. The expected completion time for each job is given
in days. The project has three critical paths with two jobs in common, J and K. in order to finish the project one day
early, the completion time should be reduced one day for:
1. Each of the 150 jobs
2. Each of the jobs on the three critical paths
, ETS MFT EXAM BUSINESS, ACCOUNTING, ECONOMICS & MANAGEMENT REVIEW – ETS MAJOR FIELD
TEST – COMPLETE STUDY GUIDE AND PRACTICE QUESTIONS WITH ANSWERS A+ VERIFIED LATEST
VERSION (2026-2027)
3. Either job J or job K
4. Both job J and job K
10. 2. price will increase but quantity is indeterminate: The Organization of the Petroleum
Exporting Countries (OPEC) reduces production by 10 percent, and the growth rate of the world economy begins to
escalate. How will the simultaneous occurrence of these events attect the equilibrium price and quantity in the world
petroleum market?
1. Price will increase, but quantity will remain unchanged
2. Price will increase, but quantity is indeterminate
3. Quantity will increase but price is indeterminate
4. Both price and quantity will increase
11. increase: if production decreases, price will
12. can't determine: if production decreases, quantity is
13. 3. Employment in the United States steel industry would increase.: Which of
the following would most likely occur as a result of the United States government's imposing taritts on foreign steel
imports?
1. The price of steel produced in the United States would decrease.
2. The price of imported steel in the United States would decrease.
3. Employment in the United States steel industry would increase.
4. Government tax revenue would fall.
14. increase, raising: If we can't import something, production within the country will leading to a
need for more workers, employment levels in said industry.
15. 1. Increase government spending: In an economy the unemployment rate is 10 percent and the
inflation rate is 1 percent. An appropriate fiscal policy in this phase of the business cycle would be to
1. Increase government spending
2. Increase income taxes
3. Decrease transfer payments
4. Decrease the money supply
16. 3. Reducing the reserve requirement: Which of the following is an appropriate Federal Reserve
action to stimulate the United States economy?
TEST – COMPLETE STUDY GUIDE AND PRACTICE QUESTIONS WITH ANSWERS A+ VERIFIED LATEST
VERSION (2026-2027)
1. 1. Secondary data usually costs less: In marketing research, a firm might consider using
secondary data over primary data because...
1. Secondary data usually costs less
2. Secondary data are usually more accurate
3. Primary data are usually non specific
4. Primary data are likely to be outdated
2. 1. Enforcement of internal policies: In organizational decision making, managers are able to
exercise the greatest degree of discretion in the...
1. Enforcement of internal policies
2. Settlement of legal disputes
3. Restructuring of outstanding loans
4. Compliance with federal regulations
3. 3. current assets less short term liabilities: The term "net working capital" refers to:
1. Inventories, receivables, and current notes and investments
2. Assets divided by liabilities
3. Current assets less short term liabilities
4. Net assets left over after subtracting cost of goods sold
4. (fixed costs + target profit) / (selling price per unit - variable cost per unit): -
required sales in units formula
5. 4. it requires proof of a breach of a statutory or common law duty: Which of the
following statements about the tort of negligence is true?
1. It cannot be used as a basis for liability for defensive products
2. It is a strict liability tort with no defenses
3. It requires proof of some intentional conduct
4. It requires proof of breach of a statutory or common law duty
6. 3. It documents the sequence of processing steps that take place in an
information system: Which of the following statements about a systems flowchart is true?
1. It is used in systems design to define and describe each piece of data
, ETS MFT EXAM BUSINESS, ACCOUNTING, ECONOMICS & MANAGEMENT REVIEW – ETS MAJOR FIELD
TEST – COMPLETE STUDY GUIDE AND PRACTICE QUESTIONS WITH ANSWERS A+ VERIFIED LATEST
VERSION (2026-2027)
2. It is a method of writing programs using only three basic constructs: sequence, selection, and repetition
3. It documents the sequence of processing steps that take place in an information system
4. It documents the logical design of an information system
7. 2. $5080
- don't count outstanding checks
- don't count deposit that hasn't appeared: On May 31, Company O's general ledger shows a
cash balance of $5,123. The May 31 bank statement shows a balance of $4,905. Other information is available as
follows:
A May 31 deposit of $300 does not appear on the bank statement; but a $3 service charge does.
A customer's $40 insuflcient funds check has been returned with the bank statement.
Outstanding checks of $10, $15, and $100 are identified on May
What is the correct cash balance on May 31?
1. $4,905
2. $5,080
3. $5,166
4. $5,204
8. 2. Return on the market portfolio: Within the context of the capital asset pricing model (CAPM),
the risk measure known as beta is often computed by regressing the return of the company's stock against the:
1. Return on the company's bonds
2. Return on the market portfolio
3. Change in the gross domestic product
4. Change in the consumer price index
9. 3. either job j or job k: A project consists of 150 jobs. The expected completion time for each job is given
in days. The project has three critical paths with two jobs in common, J and K. in order to finish the project one day
early, the completion time should be reduced one day for:
1. Each of the 150 jobs
2. Each of the jobs on the three critical paths
, ETS MFT EXAM BUSINESS, ACCOUNTING, ECONOMICS & MANAGEMENT REVIEW – ETS MAJOR FIELD
TEST – COMPLETE STUDY GUIDE AND PRACTICE QUESTIONS WITH ANSWERS A+ VERIFIED LATEST
VERSION (2026-2027)
3. Either job J or job K
4. Both job J and job K
10. 2. price will increase but quantity is indeterminate: The Organization of the Petroleum
Exporting Countries (OPEC) reduces production by 10 percent, and the growth rate of the world economy begins to
escalate. How will the simultaneous occurrence of these events attect the equilibrium price and quantity in the world
petroleum market?
1. Price will increase, but quantity will remain unchanged
2. Price will increase, but quantity is indeterminate
3. Quantity will increase but price is indeterminate
4. Both price and quantity will increase
11. increase: if production decreases, price will
12. can't determine: if production decreases, quantity is
13. 3. Employment in the United States steel industry would increase.: Which of
the following would most likely occur as a result of the United States government's imposing taritts on foreign steel
imports?
1. The price of steel produced in the United States would decrease.
2. The price of imported steel in the United States would decrease.
3. Employment in the United States steel industry would increase.
4. Government tax revenue would fall.
14. increase, raising: If we can't import something, production within the country will leading to a
need for more workers, employment levels in said industry.
15. 1. Increase government spending: In an economy the unemployment rate is 10 percent and the
inflation rate is 1 percent. An appropriate fiscal policy in this phase of the business cycle would be to
1. Increase government spending
2. Increase income taxes
3. Decrease transfer payments
4. Decrease the money supply
16. 3. Reducing the reserve requirement: Which of the following is an appropriate Federal Reserve
action to stimulate the United States economy?
