GEB 3006: Financial Literacy Final Exam
Questions and Answers
The Pecking Order of Employers (slide 6 of Salaries & Benefits PowerPoint)
A. Employees should start at the bottom of the chain & move up.
B. Employees can easily move down the chain but rarely can you move up. - -B. Employees
can easily move down the chain but rarely can you move up.
Example: Dardin is the top restaurant business in the country (they own 10+ restaurant
chains including Olive Garden). Work for Dardin first then you go wherever, Dardin hires
the best of the best.
-The Pecking Order of Employers (slide 7 of Salaries & Benefits PowerPoint)
Which company is a better place to start at?
A. Goldman Sachs
B. Walmart - -A. Goldman Sachs
-True or False || We, as people, run our life like we are a business. (Slide 7 of Time Value of
Money) - -True,
We should run our life like we are a business
-True or False || We know that receiving $1 today is worth less than $1 in the future. (Slide
8 of Time Value of Money) - -FALSE, We know that receiving $1 today is worth more than
$1 in the future. This is due to opportunity costs*
-APR or Annual Percentage Rate, the annual rate of interest, divided by the number of
periods compounded during the year. - -Example $1,000 at 10% compounded annually,
the periodic rate is 10%
-
Questions and Answers
The Pecking Order of Employers (slide 6 of Salaries & Benefits PowerPoint)
A. Employees should start at the bottom of the chain & move up.
B. Employees can easily move down the chain but rarely can you move up. - -B. Employees
can easily move down the chain but rarely can you move up.
Example: Dardin is the top restaurant business in the country (they own 10+ restaurant
chains including Olive Garden). Work for Dardin first then you go wherever, Dardin hires
the best of the best.
-The Pecking Order of Employers (slide 7 of Salaries & Benefits PowerPoint)
Which company is a better place to start at?
A. Goldman Sachs
B. Walmart - -A. Goldman Sachs
-True or False || We, as people, run our life like we are a business. (Slide 7 of Time Value of
Money) - -True,
We should run our life like we are a business
-True or False || We know that receiving $1 today is worth less than $1 in the future. (Slide
8 of Time Value of Money) - -FALSE, We know that receiving $1 today is worth more than
$1 in the future. This is due to opportunity costs*
-APR or Annual Percentage Rate, the annual rate of interest, divided by the number of
periods compounded during the year. - -Example $1,000 at 10% compounded annually,
the periodic rate is 10%
-
