The Advanced Numeracy Test Workbook - Mike Bryon [13]
A Gives the right to exclude others from making or selling a product
B Indicates that the Patent Office is deciding if the product is patentable
C Indicates that the owner has a legal monopoly for a fixed period of time
D Means that the Patent Office is about to issue a patent
Answer
Q42. A participation loan is:
A High-interest, high-risk borrowing
B A loan that pays a dividend to the borrower if payments are made on time
C One where both the lender and the borrower share the risks and profits equally
D A loan made by more than one lender
Answer
Q43. Parkinson’s law states that:
A Whatever can go wrong will
B Improved working conditions lead to increases in productivity and quality
C All organizations will become moribund
D Employee consultation aids competitiveness and invention
Answer
Q44. A paradigm shift is:
A Panic buying or selling that leads to a major change in price
B A seismic change in business or buying practices that were previously universally accepted
C The move from a market in which pure competition exists to one of a monopoly
D When a corporation is split into two or more smaller business units
Answer
Q45. An oligopoly is:
A A market dominated by a few major sellers
B A state of pure competition
C A market in which a cartel operates
D A market controlled by one seller
Answer
Q46. A notary public is:
A A not-for-profit organization that undertakes good works
B An officer authorized to administer oaths
C The publicized plans for the development of a building plot
D An official appointed to act as a representative of the general public when they have a complaint
Answer
Q47. Niche marketing is:
A Marketing directly to the prospective customer
B Marketing to a particular portion of the whole market
C The promotion of goods at the point of sale
D Marketing directed at the most lucrative sections of the market
Answer
Q48. Negative amortization occurs when:
A The repayments on a loan fail to cover the interest charged
B A borrower pays a loan off early
C Repayments exceed interest charged, so reducing the capital sum owed
D None of these
Answer
Q49. An example of a moratorium is:
A A factor used to estimate a value
B An agreed delay in the repayment of a debt
C A chart showing the rate of death by age of a given population
D A period when the gross domestic product shows no growth
Answer
Q50. Leverage means:
A Borrowing money to increase the amount available for an acquisition
B The dock charge for unloading ships
C Forcing a company or individual to change its practices
D Adding to an executive team to make it more effective
Answer
Q51. Incorporation in the USA is the same as:
A Limited warranty in the USA
B Limited liability in the EU
C A limited company in the UK
D A limited partnership in Italy
Answer
Q52. Legal tender is:
A An opinion given by a professional
B A bid to win a government contract
C A competitive tendering process that conforms to national laws
D Legally acceptable kinds of money
Answer
Q53. A legal entity is:
A A person under the legal age of consent
B A licence to offer a particular service
C An interest protected by law
D An organization that can enter into a contract
Answer
Q54. Last in first out is:
A A law of supply and demand
B The time lag between an order and its delivery
C A way to identify people for redundancy
D The way that computer memory is executed
Answer
Q55. Another way to describe the setting of an important precedent is:
A Legislation
B A board members’ resolution at an extraordinary shareholders’ meeting
C A landmark decision
D Queen’s Counsel opinion
Answer
Q56. Kudos means:
A Satisfaction
B Recognition
C A good monetary return
D None of these
Answer
Q57. An obligation that can be enforced against all parties equally or anyone separately is called:
A A joint specification
B Joint and several
C A joint liability
D None of these
Answer
Q58. A graph illustrating an expected turnaround in a market is called:
A A U-turn
B A Kondratieff wave
C An