PBMF Semester Final Review Exam

PBMF Semester Final Review Exam Questions and Answers

• Who changes raw or processed goods into finished goods?
• Correct Answers ✅Manufacturers
• Who is referred to as the middleman? - Correct Answers

✅Intermediaries

• A landscaping company is an example of what? - Correct

Answers ✅Service firms

• What type of business operates on donations? - Correct

Answers ✅Non-profit organizations

• What is the first function of management? - Correct

Answers ✅Planning

• What type of business is owned and operated by one

individual? - Correct Answers ✅Sole proprietorship

• What type of business has the right or license to sell a

company's product or service at a designated location? - Correct Answers ✅Franchise

• What grants intellectual property rights to the inventor? -

Correct Answers ✅Patents 1 / 2

PBMF Semester Final Review Exam Questions and Answers

• Words, symbols, names, or devices used to specify goods

is what? - Correct Answers ✅Trademarks

• What protects authors original work? - Correct Answers

✅Copyrights

• How long is a short-term financial goal? - Correct

Answers ✅Less than one year

• How long is a long-term financial goal? - Correct

Answers ✅More than one year

• What explains how a person changes financial position,

earnings, consumption, and savings throughout the family life cycle? - Correct Answers ✅Family Life Cycle

• How many stages in the family life cycle did we cover? -

Correct Answers ✅8

• What differentiates the various financial planning issues

among groups? - Correct Answers ✅Categorization

• Fixed income/expenses are those that what? - Correct

Answers ✅Those which stay relatively the same from month to month

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