| Question | Answer |
|---|---|
| If you count 1 to 100, how many 5s will you pass on the way? | There are 20 numbers that contain 5 in it 5, 15, 25, 35, 45, 50, 51 to 59, 65, 75, 85, 95 (55 contains 2 five’s) So the answer is 20 … |
| The following question, consist of two words each that have a certain relationship to each other, followed by four lettered pairs of words. Select the lettered pair that has the same relationship as the original pair of words. Question: Rectangle: Cylinder A. Square : Sphere B. Circle : Dosc C. Triangle : Cone D. Wall : Room | C Explanation: Here is no explanation for this answer |
| Julie is a hair stylist. She makes $10.25 an hour, plus $6 extra for every haircut she performs. This week she worked a total of 40 hours and performed 46 haircuts. How much money did she make? | $686.05 10.25 x 40 = 410.05 46 x 6 = 276 410.05 +276 =686.06 |
| Business statistics is a scientific approach to decision-making in the face of risk and is used in many disciplines, such as financial analysis, econometrics, auditing, production and operations, and marketing research. The main objective of business statistics is to make inferences about certain characteristics of a population based on information contained in a random sample from the entire population. Statistical forecasting concentrates on using the past to predict the future by identifying trends, patterns and business drives within the data to develop a forecast. This forecast is referred to as a statistical forecast because it uses mathematical formulas to identify the patterns and trends while testing the results for mathematical reasonableness and confidence. Statistical forecasting is used for forecasting sales and budget. Question #1 Statistical forecasting deals with estimating the likelihood of an event taking place in the future, based on available data Answer options – True – False = Can’t say | The correct answer is: True How to solve this question? The passage says that statistical forecasting uses the past to identify patterns and trends. This information is used to predict the future, such as forecasting sales and budget. Therefore, the answer is “True”. |
| Business statistics is a scientific approach to decision-making in the face of risk and is used in many disciplines, such as financial analysis, econometrics, auditing, production and operations, and marketing research. The main objective of business statistics is to make inferences about certain characteristics of a population based on information contained in a random sample from the entire population. Statistical forecasting concentrates on using the past to predict the future by identifying trends, patterns and business drives within the data to develop a forecast. This forecast is referred to as a statistical forecast because it uses mathematical formulas to identify the patterns and trends while testing the results for mathematical reasonableness and confidence. Statistical forecasting is used for forecasting sales and budget. Question #2 Using statistics in decision-making eliminates business risks Answer options – True – False – Can’t say | The correct answer is: Can’t say How to solve this question? The information given is that business statistics are used for decision-making in the face of risk. There is no suggestion in the passage that such use eliminates business risks, and the answer is “Can’t say.” |
| Question #3 There is no kid that doesn’t like chocolate. What inference can be drawn from this sentence? Answer options A. Everyone who likes chocolate is a kid. B. All kids like chocolate. C. There are kids that don’t like chocolate. D. Only kids like chocolate. | The correct answer is: All kids like chocolate. How to solve this question? A double negative (no kid + doesn’t like) turns into a positive. A no statement turns into an all statement. Kid => likes chocolate |
| Soy- and rice- based diets are very popular in Third World countries. The soy bean has a higher phytate content than any other grain or legume that has been studied. Phytate is an organic acid, present in the bran or hulls of all seeds, which blocks the uptake of essential minerals – calcium, magnesium, iron and especially zinc – in the intestinal tract. Soy beans seem to be highly resistant to many phytate-reducing techniques such as long, slow cooking. Only a long period of fermentation will significantly reduce the phytate content of soy beans. Thus, fermented products such as tempeh and miso provide nourishment that is easily assimilated. When precipitated soy products are consumed with meat, the mineral-blocking effects of the phytates are reduced. Question #4 People in Third World countries have low levels of calcium, magnesium, iron and zinc Answer options – True – False – Can’t say | The correct answer is: Can’t say How to solve this question? Even though phytate blocks the uptake of these minerals, there is no evidence given that people in third-world countries have low levels of these compounds. The passage says that soy- and rice-based diets are very popular in these countries, but it does not go far enough to be able to say definitively that persons are deficient in these essentials. Even if the statement is true, it is not supported by the information in the passage, and the response is “Can’t say”. |
| Question #5 Three of the following are alike in some way: Finch, Crow, Ostrich, Robin. Please select the one that is different. Answer options A. Finch B. Crow C. Ostrich D. Robin | The correct answer is: Ostrich How to solve this question? All are birds, but the ostrich is the only one that cannot fly. |
| Question #6 Gavin beat Jerry in a marathon race wearing Dada running shoes. Dada came out, on the same day, with an ad campaign saying that their new Dada shoes made Gavin win. Which of the following facts weakens Dada’s conclusion? Answer options A. Jerry was unwell on the day of the marathon. B. Gavin has never beaten Jerry in previous marathons. C. Jerry took steroids to increase his performance on the day of the marathon. D. Jerry has been considered the fastest marathon runner till now. | The correct answer is: Jerry was unwell on the day of the marathon. How to solve this question? The fact that Jerry was unwell on the day of the marathon offers an alternative explanation for Gavin’s win. Therefore, it weakens Dada’s conclusion that their shoes have been to reason for Gavin’s win. The other facts only make Gavin’s accomplishment while wearing Dada’s shoes more impressive and, hence, tend to support Dada’s conclusion. |
| Question #7 Three of the following are alike in some way: Tailor, Footman, Butler, Equerry Please select the one that is different. Answer options A. Tailor B. Footman C. Butler D. Equerry | The correct answer is: Tailor How to solve this question? Three of these occupations refer to household staff. A tailor, however, is a general trade not specially associated with domestic service. |
| Question #8 The waiters in the Imperial Restaurant have agreed on the following rules for their rosters: 1. When Daniel works, Simon works too. 2. When Simon works, Eve is not. 3. When Eve doesn’t work, Katherine doesn’t work too. Which of the following conclusions is derived from this information? Answer options A. If Simon works, Daniel works too. B. If Daniel works, Katherine doesn’t. C. If Simon doesn’t work, Katherine doesn’t. D. If Katherine doesn’t work, Simon doesn’t work too. | The correct answer is: If Daniel works, Katherine doesn’t. How to solve this question? Based on rule number 1, we conclude that Daniel and Simon work on the same days. Integrating rule number 2, we can conclude that Daniel doesn’t work when Eve does. Integrating rule number 3, we conclude that Daniel and Katherine don’t work on the same days. |
| Have you _ in the choir before? A) Sing B) Sang C) Sung D) Singed | B) Sung |
| Two women start at the same point. They walk in opposite directions for 3 meters, then turn right and walk another 4 meters. How far apart are they? A. 7 B. 10 C. 12 D. 15 E. 21 | Answer is 10 3×3 = 9 4 x 4 = 16 9+16 = 25 square root 25 / 2 = 5 since there is two people 5 * 2 = 10 |
| Now, it’s twice as long since noon as it was two hours ago. What time is it now? | It would be 4:00 pm. Twice as long as it was two hours ago, and since it is from noon, this means that two hours ago it was 2:00 pm twice as long since noon means to add another 2 hours which means that twice that is 4:00 pm. |
| Does this sentence contain forty-one letters? – Yes – No | No 38 letters |
| A package of gift cards has a length of 8 inches, a width of 4 inches and a volume of 64 inches cubed. What is the height of the box? | 2 inches. Volume of a rectangular object: length * width * height 64 = 8(4)(x) 64 = 32x 2 = x |
| Abstract means: A. Strict B. Difficult to understand C. To mistake for something else D. Chance of happening | Difficult to understand; abstruse: abstract philosophical problems. |
| In the following question find out the alternative which will replace the question mark: Leg: Pants:: Head:? A. Shirt B. Shoes C. Hat D. Shoulders | Hat |
| Choose the sentence that best joins the sequence of events stated below without omitting any details or changing the meaning. A car crashed into the telephone pole. The power went out. I got the generator working. A. The power went out after a car crashed into the telephone pole; I later got the generator working. B. A car crashed into a telephone pole, causing the power to go out and me to get the generator working. C. I got the generator working after the power went out and a car crashed into the telephone pole. D. The power went out after I got the generator working; a car crashed into the telephone pole. | A. The power went out after a car crashed into the telephone pole; I later got the generator working. |
| How many of the five pairs listed below are duplicates? (Enter answer in numerical value.) A. Suspicious AND Spacious B. Conspicuous AND Conspicuous C. Malicious AND Malicious D. Gray AND Grey E. Hummingbird AND Humningbird | 2 B and C |
| Which of the following is NOT a primary limitation of accounting information? a) The information lacks precision due to employing judgement and subjective assessment. b) The information is mostly historic data. c) The financial statements are designed to show the financial performance and financial position of the organisation. d) The problem of inclusion. e) The information is not adjusted for inflation. | c) The financial statements are designed to show the financial performance and financial position of the organisation. |
| The financial return to a shareholder over a period is calculated using the following information: a) profit and cash flow b) dividends and changes in asset values c) sales revenue and change in share price. d) dividends paid and change in share price. e) earnings per share and changes in the company’s cash in the bank. | d) dividends paid and change in share price. |
| From the perspective of a lender, such as a bank who provides a loan to the business, what aspect of the company’s financial statements are of greatest importance? a) cash in the bank b) dividends paid c) compliance with the ASX regulations d) inventories held e) operating cash flow for the period | e) operating cash flow for the period. |
| You are considering buying a small retail store selling electrical equipment. What non-financial information should you be requesting from the current owner? a) lease contacts for the property. b) past (and latest) audited financial statements c) past (and latest) submitted tax returns and correspondence with the tax authorities d) The product and price lists of competitors in the market e) An inventory list of stock on hand. | a) lease contacts for the property. |
| Why do the financial statements not show the “value” of the business? Identify the incorrect response to the above question. a) The accounting definition is clear that accounting is the process of communicating the results of past transactions. b) Accountants are not in the business of predicting future profitability and cash flow. c) Financial value refers to the ability to produce future cash flow. d) The financial statements can tell us nothing about the future performance of the business and therefore have no future predictive value. e) Assets are often held at cost, not fair value. | d) The financial statements can tell us nothing about the future performance of the business and therefore have no future predictive value. |
| Why it is important for a firm to accurately determine the cost to produce a product or service? Identify the correct response to the above question. a) To assist in negotiating loan repayment terms. b) To assist in wage negotiations with staff. c) To determine the amounts to pay shareholders in dividends. d) To determine the relative value of the company’s shares. e) To aid in setting reasonable selling prices. | e) To aid in setting reasonable selling prices. |
| Variable cost per unit can increase with production due to: a) Trade discounts negotiated with suppliers. b) Scarcity of the resource being procured, causing a higher purchase price as more is required. c) Economies of scale. d) Efficiencies in the production process as the company produces more. e) Increased use of automation as the company increases production. | b) Scarcity of the resource being procured, causing a higher purchase price as more is required. |
| As production increases, fixed costs per unit ….. Identify the correct ending to this sentence. a) Remains constant (as the costs are, by definition, fixed). b) Offset the variable costs per unit. c) The selling price of the product decreases in order to attract more customers. d) Decreases as the business “stretches” its fixed costs. e) Step up due to capacity constraints. | d) Decreases as the business “stretches” its fixed costs. |
| The “price elasticity of demand” refers to the following concept: a) The ability of prices to reset over time to the ‘average’ in the industry. b) An economic measure of the change in the quantity demanded or purchased of a product in relation to its price change. c) The step-up in demand experienced when customers respond to a successful marketing campaign. d) The downward movement in price as more suppliers enter the market. e) The upward movement in price as a product becomes more scarce in the market. | b) An economic measure of the change in the quantity demanded or purchased of a product in relation to its price change. |
| For a small chain of coffee shops which operate out of three branches (shop locations), which of the following is unlikely to be considered a cost object? a) A large cappuccino b) A Danish pastry c) The whole business d) A coffee machine e) One of the branches | d) A coffee machine |
| Leather Designs (Pty) Ltd manufactures speciality leather products such as bags, wallets and purses. Which of the following costs is a manufacturing indirect cost when costing a one of their products? a) Selling costs. b) The cost of leather. c) The maintenance and servicing cost for the machines which cut and stitch the leather d) The wages for staff which perform hand stitching and apply final finishing on the products. e) The wages of the bookkeeper who performs the payroll function. | c) The maintenance and servicing cost for the machines which cut and stitch the leather |
| Calculate the contribution margin per combo for & Jerry’s Coffee. a) $9.68 b) $1.68 c) $0 d) $12.32 e) $5.59 | e) $5.59 |
| Calculate the break-even point (units) for & Jerry’s Coffee. a) 699 b) 1,539 c) 889 d) 2,200 e) 5,114 | b) 1,539 |
| If & Jerry’s Coffee were to double sales (i.e. from 2,200 to 4,400), what would profit increase to? a) $7,400 b) $19,245 c) $16,000 d) $23,455 e) $6,380 | c) $16,000 |
| For individual managers, accounting has at least three functions. They are: a) planning, buying and selling b) planning, decision support for decision making, and spending c) saving, controlling and buying d) planning, controlling and support for decision making e) Saving, stewardship and planning | d) planning, controlling and support for decision making |
| Charlie has 4 pairs of shoes, 12 shirts, 5 pairs of pants, and 3 watches. How many days could he go without wearing the same combination of these four items? A. 716 B. 742 C. 680 D. 720 | 720 |
| If ABC Ltd produces a product at a variable cost of $40 and sells it for $50, with total fixed costs of $700,000, with budgeted sales of 90,000 units: Calculate margin of safety. a) 22.2% b) 28.6% c) 12.5% d) 35.2% e) 14.7% | a) 22.2% |
| Which of the following is not a reason for implementing a budget? a) For planning purposes b) As a form of communication c) To hold managers accountable d) To assist in preparing a balance sheet e) For coordinating functions | d) To assist in preparing a balance sheet |
| “…………..” budgeting occurs when lower-level managers are involved in the budget process rather than having the budget imposed from above. a) Participative b) Partaker c) Pseudo-patisserie d) Collective e) Negotiation | a) Participative |
| Which of the following is not a limitation of CVP? a) Fixed costs are considered to operate within capacity constraints. b) Fixed and variable costs are, in reality, difficult to split accurately. c) Variable cost per unit is considered constant, within the relevant range of activity. d) Profit changes as costs, volumes and prices change. e) The calculations become more complex and require more estimation when considering a multiple-product environment (as opposed to a simpler one-product environment) | d) Profit changes as costs, volumes and prices change. |
| Which of the following statements concerning agency theory is correct? a) Auditors are the agents management task with holding shareholders accountable. b) Shareholders and lenders appoint managers to run the business on their behalf. c) Shareholders and managers interests are aligned by the use of accounting information. d) Shareholders (the principals) and management (the agents) have different and sometimes conflicted vested interests concerning the business. e) Shareholders pay management a salary to align management’s incentives with shareholder interests. | d) Shareholders (the principals) and management (the agents) have different and sometimes conflicted vested interests concerning the business. |
| In the comparison of internal accounting versus external reporting, which of the following are not a characteristic of management accounting? a) Reports are used by users that are internal to the business. b) Reports and accounting information are generated regularly (daily, weekly, monthly). c) The reports and accounting information is produced according to a prescribed legal framework. d) The information reports on both past events and anticipated future events. e) The information is designed to support financial decision-making. | c) The reports and accounting information is produced according to a prescribed legal framework. |
| Widget Co. (Pty) Ltd forecasts sales for the third quarter at 10 000 units. The desired ending inventory for the second quarter is 2000 units and for the third quarter 3000 units. How many units must be produced in the third quarter? a) 9,000 b) 11,000 c) 12,000 d) 13,000 e) 10,000 | b) 11,000 |
| Assume the first two statements are true. All soccer players wear cleats. John is a soccer player. Is the final one: John wears cleats. True False Not Certain | True |
| A girl is 18 years old and her brother is a third her age. When the girl is 36, what will be the age of her brother? | 24 Girl 18 – Boy 6 = 18-6 = 12 Girl 36 – Boy 24 = 36-12 = 24 |
| A dance studio wants to use square mirror tiles to cover two walls in their studio that measure 2 feet by 2 feet. Each wall measures 9 feet by 22 feet. The studio instructor has requested that a 1 foot gap be left between the floor and the start of the mirrors. How many mirror tiles are needed to cover both walls? A. 44 B. 176 C. 88 D. 99 | Size of each tiles = (22) square inch = 4 square inch Since 1 inch gap needs to be kept with the floor, so the height of floor that needs to be covered with square mirror tiles is 8 inch. Size of each wall = (822) square inch = 176 square inch So the number of mirror tiles required per wall = 176/4 tiles = 44 tiles Number of tiles required to cover both walls = (44*2) tiles = 88 tiles. |
| Michael’s Foods (Pty) Ltd has calculated a total manufacturing overhead of $244,700. After some discussions with the accountant, this overhead was split between fixed overhead costs ($200,000) and variable overhead costs ($44,700), where the cost driver was determined to be direct labour hours (DLHs). The budgeted DLHs for each quarter are as follows: Quarter 1 – 2 050 Quarter 2 – 2 550 Quarter 3 – 3 050 Quarter 4 – 3 525 Calculate the variable overhead to allocate for to the budget for Quarter 3. a) $12,200 b) $44,700 c) $14,100 d) $50,000 e) $9,500 | a) $12,200 |
| The day before the day before yesterday was three days after Monday. What day is it? A. Wednesday B. Sunday C. Thursday D. Monday E. Tuesday | Sunday Three days after Monday is Thursday. The day before the day→ Tuesday the day before yesterday → Monday Yesterday is Monday and today is Sunday |
| A synonym of bantering is: A. Chasing B. Chastising C. Taunting D. Teasing | Teasing |
| In defining the term “cost driver”, which statement is not correct? a) A cost driver is any factor which causes a change in the cost of an activity. b) Cost drivers are the structural determinants of the cost of an activity, reflecting any linkages or interrelationships that affect it. c) Cost drivers are activities or factors which remain constant as more of the cost is incurred. d) A cost driver directly influences a business activity. e) A cost driver is an activity that indirectly approximates how a specific cost is incurred. | c) Cost drivers are activities or factors which remain constant as more of the cost is incurred. |
| Kookaburra Pie Company produces two types of pie: chicken and beef. The monthly sales budget is for sales of 14 000 chicken pies and 18 000 beef pies. Pies are snap-frozen after manufacture. For this month, opening inventory is 2 000 chicken pies and 3500 beef pies.Kookaburra wishes to budget for a closing inventory of 25 per cent of production. Calculate the required production for each type of pie for a month. | Chicken pies: 16,000 Beef pies: 19,334 |
| All of the following statements illustrate the principal-agent problem as described in agency theory, except one. Which statement does not? a) Managers are motivated to sustain and grow their salary and other benefits of employment. b) Shareholders desire long-term and sustainable value creation in the company. c) Shareholders receive a financial return in the form of dividend payments, and the value of the business increasing. d) Managers may choose accounting policies which make them look good and increase their performance bonuses. e) If the company goes bankrupt (insolvent), then management lose their jobs and suffer a loss of reputation. | e) If the company goes bankrupt (insolvent), then management lose their jobs and suffer a loss of reputation. |
| Choose the word that correctly completes the following sentence. Although we would like a bigger office for our company someday, our current one is ________, and we are happy with it. A. Filthy B. Ample C. Confined D. Bravura | Ample Ample: enough or more than enough; plentiful. large and accommodating |
| Michael threw for 1,654 yards in his first five games. At this rate, how many yards will he have thrown for in fifteen games? A. 4,692 B. 6,294 C. 4,962 D. 4,296 | 4962 1654 / 5 = 330.8 330.8 * 15 = 4962 |
| Choose the group of words that form a complete sentence. A. Big, snarly animals in the cage. B. They’re here—the small, the medium and the large. C. The last cow in the field? D. Again with the chicken! | They’re here—the small, the medium and the large. |
| If one serving of cookie dough makes 4 cookies, how many cookies can be made with 7 servings of cookie dough? | 28 |
| A road construction crew is resurfacing the highway between point D and point E. The distance between point D and point E is 93 miles of road. The crew has completed 35 miles. If they work at a pace of 2.9 miles per day, how many more days will it take to finish? A. 54 B. 35 C. 20 D. 21 | 20 more days 93-35=58 58/2.9=20 |
| Considering the series below, what number should be next? 12, 24, 48, 96, __ | 192 pattern multiply by 2 96 x 2 = 192 |
| Identify which of the following is an example of a relevant cost. a) A differential future cash flow. b) The cost is paid in the past and cannot be recouped. c) Depreciation is an example of non-cash expense. d) Both options being considered (Option 1 and Option 2) require you to pay that cost regardless. e) A future cash cost. | a) A differential future cash flow. |
| Assume “Mission Impossible 7” (starring Tom Cruise) and “Some Marvel movie” (starring a lot of spandex) are showing at the cinema on Friday at 5:30pm. If you go see the Marvel film, what is the ‘opportunity cost’? a) Seeing many people wearing spandex. b) The cost of the cinema ticket. c) Watching Tom Cruise save the world on Friday at 5:30pm. d) Watching “Some Marvel movie” again on Saturday. e) Wishing you had better taste in movies | c) Watching Tom Cruise save the world on Friday at 5:30pm. |
| In making a short-term decision, such as make a product or buy the product, and where no constraints exist, which is NOT likely a relevant consideration: a) Matters that could impact the longer-term profitability of the business. b) The impact of the decision on the firm’s short term profitability. c) Ethical matters concerning the make or buy decision, regardless of their impact on the profitability of the company. d) Non-financial (qualitative) considerations concerning the make or buy decision. e) The fixed salary of the manager who will oversee the outcome of the make or buy decision. | e) The fixed salary of the manager who will oversee the outcome of the make or buy decision. |
| Assume the first two statements are true. Tim knows Todd. Todd knows Kim. Is the final one: Kim doesn’t know Tim. A. Not Certain B. False C. True | Not certain |
| Tony gets married next month. One year ago from the date he will get married, Tony was away in Spain for New Year’s Eve. What month is it? A. October B. December C. November D. February E. January | November New year’s eve is December Tony is getting marry in December the previous month from December is November |
| The day after tomorrow will be five days after last Friday. What day is it today? A. Monday B. Sunday C. Wednesday D. Saturday E. Tuesday | Monday The day after tomorrow = 2 days will be five days after last Friday = 5 5 days after last Friday is Wednesday. Therefore the day after tomorrow is Wednesday. Subtract 2 days, thus today is Monday. |
| How many 2-1/4 meter lengths of tape can be cut from 36 meters of tape? A. 14-3/4 B. 16 C. 17 D. 15-1/4 | 16 2 1/4 = 9/4 divide 36 by 9/4 or multiply 36 by 4/9 36 X 4 = 144 1 X 9 = 9 144 /9 = 16 |
| Choose the group of words that form a complete sentence. A. Wind, fire, water—elements of the Earth. B. We’re off! C. Helps us save money on car insurance and fuel costs. D. My neck of the woods. | We’re off! |
| Notebooks sell for 33 cents per unit. How much will 5 notebooks cost? A) $1.55 B) $1.35 C) $1.65 D) $1.60 | C) $1.65 33 * 5 = 165 |
| Do the words credit and acclaim have A. opposite meanings B. similar meanings C. no relation | No relation |
| What is the average of all the integers from 17 to 55? | Since the numbers are evenly spaced (differ by 1), the middle number will be the average. To find the middle number, take the average of the first and last numbers. (17 + 55) / 2 = 72/2 = 36 Answer: 36 is the middle number and the average. |
| The 4:25 bus to the metro airport has a travel time of 1 hour and 45 minutes. The bus is running late today though. What will be the arrival time to the airport? A) 5:25 B) 5:45 C) 7:35 D) 6:05 | C) 7:35 The bus is late? The only time that makes sense is C, 7:35. Why? Because, late or not, an hour and 45 minutes past 4:25 is 6:10, later than any of the other answers 4:25 + 1:45 = 6:05 normal schedule |
| Michael’s Hoodies Company (MHC) makes hoodies (jackets) with printed logos for companies and sports teams who require branded hoodies. Michael just received a request to provide a price quote for an order for the supply of 1000 custom made hoodies in the colour of the Australia flag for a national sports team. MHC is facing stiff competition from competitors and needs to supply a competitive bid to secure the contract. The following is the calculation (performed by Michael) of the fabric required for the order: The order requires fabric that is already printed with the Australian flag. 30% of the required fabric is in stock from a previous order by the Australian chess team. This fabric cost $4,000 when purchased from the supplier. A quote from the supplier was that the remaining 70% of fabric would cost $11,000 (the price had gone up per square metre). If the fabric in stock was not used in the order, the supplier stated he would buy it back from MHC for $1,500. Before receiving the request to make a quote, Michael was considering throwing the fabric away as it was taking up unnecessary room in the storeroom. What is the relevant cost of the fabric to include in the order? a) $11,000 b) $4,000 c) $15,000 d) $12,500 e) $5,500 | d) $12,500 |
| The sports team requires its embroidery logo stitched onto each hoodie. Each logo needs to be stitched onto the clothing by hand by MHC’s staff who perform this kind of sewing and tailor work. (The customer would provide the embroidery logos at no cost – but MHC needed to stitch them onto the hoodies) $6,000 represents the cost that would be paid to these staff members in respect of the time that they work on the order (approximately 200 hours of stitching work at $30 per hour). If they did not work on the order they would not work for this time (idle time) and be paid $15 per hour. The staff are supervised by the factory supervisor who is paid a fixed salary of $2,000 for a 40 hour week (equates to $50 per hour). What is the relevant cost for the quote of the staff who perform the stitching of the logos? a) $6,000 b) $3,000 c) $9,000 d) $8,000 e) None of the above | b) $3,000 |
| The work to cut and produce the hoodie from the fabric uses a specialised machine that is pre-programmed to the design/pattern of the hoodie. Michael has calculated, based on machine hours, an allocation of $1,500 of depreciation of this machine for this order. In addition, $800 needs to be spent on consumables preparing the machine before use and servicing it after use on the job. This service cost is incurred every time the machine is employed on a new job. The person who services the machine is an independent contractor who MHC often hire, at a cost of $900 per service. What is the relevant cost for inclusion in the quote, relating to the machine, based on the above information? a) $900 b) $2,400 c) $1,800 d) $3,200 e) None of the above | e) None of the above |
| Based on the article – When you’ve got to cut costs: A practical guide to reducing overhead by 10%, 20%, or (wince) 30% by Kevin P. Coyne, Shawn T. Coyne, and Edward J. Coyne, Sr (Harvard Business Review) Which of the following ideas are NOT consistent with the views put forth in the article: a) There is no single idea that is likely to radically change the business’ cost structure. Rather, many smaller, well-thought out ideas are needed. b) The degree of disruption to the business caused by your cost reductions will usually be proportional to the degree of cutting you do. c) Find the one area in the business where a major cost change can be made. There is usually one large improvement that brings the greatest cost reduction. d) Incremental ideas with minimal impact on other departments can allow you to trim up to 10% of costs. e) Cost saving ideas improve through multiple iterations, so start early and continually revise your ideas over time. | c) Find the one area in the business where a major cost change can be made. There is usually one large improvement that brings the greatest cost reduction. |
| Based on the article – When you’ve got to cut costs: A practical guide to reducing overhead by 10%, 20%, or (wince) 30% by Kevin P. Coyne, Shawn T. Coyne, and Edward J. Coyne, Sr (Harvard Business Review) Which of the following ideas ARE consistent with the views put forth in the article: a) Departments conduct very different activities and purchase different items (procurement). Therefore, there are unlikely to be procurement efficiencies through centralisation and coordination of procurement. b) It is a good use of resources to protect the business from low probability events that, if they occur, will not be very costly. c) Plan many meetings and discussion forums as possible as this will circulate ideas and promote communication. Don’t repurpose, consolidate, or eliminate meetings. d) Achieving a 30% cost savings likely requires a broader perspective of thinking about savings across departments and functions. 30% will unlikely be achieved by only looking within departments for efficiencies. e) If you want a 20% savings in a department, rather attempt to do the same work with 20% fewer people. | d) Achieving a 30% cost savings likely requires a broader perspective of thinking about savings across departments and functions. 30% will unlikely be achieved by only looking within departments for efficiencies. |
| Which of the following is NOT an advantage of incorporating the business as a company: a) Limited liability of shareholders. b) Less regulation and compliance costs. c) Diversification of risk amongst multiple owners. d) Ability to list of a stock exchange. e) Ease of, and ability to, raise capital to fund growth. | b) Less regulation and compliance costs. |
| Which of the following is NOT true of a consolidated set of financial statements (‘consolidated financial report’). a) A consolidated set of financial statements shows the financial statements of one company, called ‘the group’. b) The financial statements include the financial position and financial performance of the parent and the ‘controlled entities’. c) The finances of subsidiaries are included in the consolidated accounts. d) Consolidated financial statements show the profit of the ‘group’. e) A ‘consolidated financial report’ is the same meaning as a ‘group financial report’. | a) A consolidated set of financial statements shows the financial statements of one company, called ‘the group’. |
| An ordinary shareholder has certain fundamental rights. Which of the following is NOT one of those rights: a) To proportionally exercise voting rights in shareholder meetings. b) To receive a proportional share of dividends declared (distribution of profits). c) Certain protections, as well as rights and obligations, under the Corporations Act. d) To claim the assets of the company. e) To receive the company’s financial statements once completed and issued. | d) To claim the assets of the company. |
| The stated objective of general-purpose financial statements (per the conceptual framework) is to provide decision-useful information to the following groups: a) Suppliers, potential investors, lenders and other creditors. b) Investors, potential investors, lenders and regulators. c) Investors, potential investors, trade unions and other creditors. d) Investors, potential investors, lenders and customers. e) Investors, potential investors, lenders and other creditors. | e) Investors, potential investors, lenders and other creditors. |
| Which statement is CORRECT concerning the external audit of financial statements: a) The purpose of an external audit is to compile/prepare the financial statements for the company. b) The purpose of an external audit is guarantee to management that there is no fraud in the business. c) An external audit is performed by the Australian Tax Office (ATO). d) An external audit is performed by the accountants in the company. e) The purpose of an external audit is to add credibility to general purpose financial reports so that users can be assured that the reports are a true and fair representation of the economic activities of the reporting entity. | e) The purpose of an external audit is to add credibility to general purpose financial reports so that users can be assured that the reports are a true and fair representation of the economic activities of the reporting entity. |
| An asset (based on the accounting definition) must be owned by the business. a) True b) False | b) False |
| Expenditure on advertising (adverts in a magazine and commercials on TV) cannot be recognised as an asset (based on the accounting definition and recognition criteria). It must be expensed. a) True b) False | a) True |
| A liability (based on the accounting definition) is a present obligation, not a future obligation. It may be paid in the future (settled), but it must be a present obligation to be considered a liability in the balance sheet. a) True b) False | a) True |
| Assets = Equity + Liabilities. This is the accounting equation. A liability is the residual interest in the assets of the entity after deducting all the equity. a) True b) False | b) False |
| ABC Ltd. is being sued by a customer for damage caused by an allegedly faulty product. The claim is for damages of $100,000. Legal advice to the company is that the claim has a 40% chance of success. The $100,000 should be reported as a liability. (True or False) a) True b) False | b) False |
| ABC Ltd. has a policy whereby it overhauls its major machinery every 5 years. This has been its practice for 25 years. It was last overhauled 4 years ago. Is the cost of overhauling the machinery a liability? a) No, because there is no past event giving rise to a present obligation to pay for the work. b) No, because the amount payable is not probable or reliably measurable. c) Yes | a) No, because there is no past event giving rise to a present obligation to pay for the work. |
| The Revised Conceptual Framework (RCF) refers to two types of measurement bases available for assets, namely: a) Historical cost and current value b) Future cost and replacement cost c) Value in use and depreciated cost d) Fair value and value in use e) Selling price and replacement cost | a) Historical cost and current value |
| What is the concept of ‘depreciation’ in accounting? Which statement is INCORRECT? a) Depreciation is an accounting adjustment – it is not a payment of cash. b) Depreciation is the systematic allocation of the original cost of the asset, allocated over the estimated useful life of the asset. c) Depreciation recognises the decrease in value of the asset over time. d) Depreciation is the ‘write-down’ of the asset over the useful life of the asset from historic cost down to residual value. e) Depreciation is a concept that recognises the fact that most assets get ‘worn out’ i.e. the time in which they are able to contribute towards the profitability of the business is limited. | c) Depreciation recognises the decrease in value of the asset over time. |
| In the example of Alexia’s dress (per the lecture and textbook example), which measurement basis makes the LEAST sense? i.e. it is the worst choice as a measurement basis: a) Historic cost b) Replacement cost c) Net realisable value d) Value in use e) Depreciated cost | d) Value in use |
| The accounting concept of ‘performance’ can be understood as the change in ‘wealth’ over time. a) True b) False | a) True |
| Income, revenue and gains are synonymous in the conceptual framework i.e. they have the same meaning. a) True b) False | b) False |
| In terms of the conceptual framework, the term ‘fair value’ is defined in such a way as to PREVENT which of the following problems: a) Transactions between connected or related persons. b) Transactions between ‘unwilling and unknowledgeable’ buyers and sellers. c) The price agreed between two parties in an uncommon and rare transaction. d) The price agreed between two parties in a ‘forced’ sale or upon liquidation (quick sale needed). e) All of the above. | e) All of the above. |
| The eighth month of the year is: A) August B) October C) July D) September | August |
| Which word is different from the others? A) Stick B) Rake C) Ball D) Cleat E) Glove | Rake |
| Why do the accounting standards prefer Historic Cost as the measurement basis for assets? Identify which answer is least correct. a) The basis is consistent with the going concern assumption, i.e. that assets will be utilised in the normal course of business. b) The basis is convenient to apply in comparison to value-based measures. c) Despite being more subjective, historic cost is more understandable than value-based measures. d) The basis is less costly to apply in comparison to value-based measures. e) Accounting is less concerned with representing the value of the business and more concerned with communicating the results of past transactions. | c) Despite being more subjective, historic cost is more understandable than value-based measures. |
| In the Directors’ Declaration accompanying a company’s financial statements, several declarations are made by the directors. Which of the following is not usually included in subject of such a declaration? a) The company is a going concern. b) The auditors are deemed to be independent and suitable to have conducted the audit. c) The financial statements were prepared in accordance with applicable accounting standards (IFRS/AASB for example). d) The financial statements are in compliance with the Corporations Act 2001. e) The financial statements present a true and fair view of the company’s financial position and performance. | b) The auditors are deemed to be independent and suitable to have conducted the audit. |
| Mykael McSuper is the CEO of Mykael’s Awesome Teaching Services (Pty) Ltd. Mykael wants to know if the company’s financial statements are required to be audited before lodging them with the ASIC. Which statement is INCORRECT in this regard? a) The company is a proprietary company. Not all proprietary companies are required to have an audit performed. b) Proprietary companies deemed to be “small”, based on a set of criteria, do not (generally) have to be audited. c) All proprietary companies that are “large” (i.e. not deemed to be “small” per the criteria), are required to lodge audited financial statements with the Australian Securities and Investments Commission (ASIC), unless granted an exemption. d) As a proprietary company, it may list on the ASX and then it is subject different rules regarding an audit (determined by the ASX stock exchange). e) The company is not a public company. All public companies are required to have an audit performed. | d) As a proprietary company, it may list on the ASX and then it is subject different rules regarding an audit (determined by the ASX stock exchange). |
| The day before the day before yesterday was three days after Monday. What day is it? A) Monday B) Thursday C) Tuesday D) Sunday E) Wednesday | Sunday The day before yesterday equals two days. Add another yesterday and that’s three days. 2+1 = 3 Therefore, three days ago was three days after Monday. What is three days after Monday? Thursday. Add three days to Thursday and we get Sunday. |
| A science class has two times as many boys as girls. During the final examination of the year, the girls average 90 points each, and the class as a whole averages 80 points per person. What is the average score of the boys in the class? A) 75 B) 80 C) 70 D) 85 | n = total students b = no of boys g = no of girls s = boys average score b + g = n Since two times as many boys 2g + g = n 3g = n 80n = 90g + s*b Substitute 3g for n and 2g for b 80(3g) = 90g + s(2g) 240g = 90g + (2s)g 240g = (90 + 2s)g divide each side by g 240 = 90 + 2s subtract 90 from each side 150 = 2s divide each side by 2 75 = s The average boy score is 75 |
| Choose the word that correctly completes the following sentence. Jimmy has been practicing his free throws for months now. Despite his _ efforts, Jimmy is still the worst free throw shooter on the team. A) Coarse B) Deplorable C) Valiant D) Hard-earned | C) Valiant Valiant: possessing or showing courage or determination |
| A bike travels 7 feet in 1/3 of a second. At the same speed, how many feet will it travel in 5 seconds? A) 35 feet B) 155 feet C) 105 feet D) 21 feet | C) 105 Feet 7 feet ———– = 7 * 3/1 = 21 feet per second 1/3 sec. The distance traveled in 5 seconds is (5 seconds) * (21 feet/second) = 105 |
| To chide is to: A) Fear B) Scurry C) Interrupt D) Scold | D) Scold Scold: scold or rebuke.”she chided him for not replying to her letters |
| Taylor is going on a road trip that is 600 miles long. Her friend recommends that she buy engine oil A because it will save her 60 cents in gas for every 20 miles of the trip. Oil A, however, will cost $35. Is it worthwhile for Taylor to buy the oil if she has a coupon for $10 off the price? A) No B) Yes | A) No No. Taylor will only save $10 by using the oil (.6 x (600 / 20)), and this is still $7 less than the cost of the oil. $0.60 cents x 600 miles = $360 divide 20 miles = $18 Cost of Oil A $35 – Coupon $10 = $25 $25 – $18 = $7 |
| 253 ÷ 46 = A) 5.50 B) 4.50 C) 5.75 D) 5.25 | A) 5.50 46 * 5 = 230 253 – 230 = 23 add 0 and decimal point 46 * 5 = 230 no remainder 5.5 |
| Assume the first two statements are true. All restaurants in Japan serve beverages. Fanta is a popular soda in Japan. Do Japanese restaurants in the United States serve Fanta? A) Yes B) No C) Not Certain | C) Not certain |
| Choose the word that best describes the meaning of the bolded word in the following sentence. The newspaper released a SCATHING review of the director’s latest Broadway hit. A) Uncertain B) Praising C) Contemptuous D) Agreeable | C) Contemptuous Scathing: severely critical.”she launched a scathing attack on the governor” |
| Choose the word that correctly completes the following sentence. This bike _ in the garage. A) Go B) Gone C) Going D) Goes | D) Goes |
| Four individuals form a business and create a contract to divide the profits equally among the four. Gary invests $11,000, Neil invests $4,000, Jill invests $5,000, and Steve invests $8,000. The profits at the end of the year are $5,600. How much less does Gary receive than if the profits were divided in relation to the amount invested by each owner? A) $800 B) $1,400 C) $2,200 D) $1,000 | All combined are 28000. Divide Each one of their contributions by 28000, the decimal will be the % each gave. For example 11000÷28000= .39(39%) Multiple 5600 by .39 Gary gets $2,200, Neil gets $800 etc etc. Pretty crappy investment if you ask me. |
| A synonym of tenacity is: Choose one Urban Aptitude Ineptness Chutzpah | Chutzpah Tenacity: Chutzpah, determined, ambition, strength of purpose |
| Which number represents the smallest amount? A) .77 B) 1/7 C) 7 D) 17 E) .17 F) .07 | F) .07 .77 hundredths 1/7= 14 2/7 = 14 hundred. 27 hundredths 7 tens= whole number 17 hundred .17 hundredths .07 hundredths |
| Chain sells for $1.50 per foot. How many feet of chain can you buy for $18? A) 24 feet B) 15 feet C) 12 feet | C) 12 feet 18/1.50=12 |
| Janine’s shoes cost $44.50, her pants cost $20.80 and her t-shirt cost $14.95. What is the total of her purchases? A) $80.52 B) $82.25 C) $80.25 D) $85.20 | C) $80.25 44.50 20.80 14.95 + 80.25 |
| Which number is larger: .5, 5, 30, 400? | 400 .5 tenths ten-whole number hundred-whole number thousand-whole number |
| A gallon of gas costs $3.80. How many gallons of gas can be purchased with $19? A) 5 B) 6 C) 3 D) 4 | A) 5 19/3.80=5 |
| A synonym of tenacity is: A) Chutzpah B) Urban C) Ineptness D) Aptitude | A) Chutzpah Tenacity/Chutzpah: holding fast; persistence diligence guts |
| Choose the group of words that forms a complete sentence. A) My neck of the woods. B) We’re off! C) Wind, fire, water—elements of the Earth. D) Helps us save money on car insurance and fuel costs. | B) We’re off! |
| What is the mathematical average of the number of feet in a yard, seconds in a minutes and months in a year? Enter a numerical value only | There are 3 feet in a yard. There are 60 seconds in a minute. There are 12 months in a year. Add those up and divide by 3 to get the average. (3 + 60 + 12) / 3 = 75/3 = 25 Answer: 25 |
| The day before the day before yesterday was three days after Monday. What day is it? A) Thursday B) Wednesday C) Sunday D) Monday E) Tuesday | C) Sunday Three days after Monday is Thursday. 3 days The day before the day→ Thursday 1 day the day before yesterday → Friday 1 day Yesterday is Saturday 1 day and today is Sunday 3 + 3 = 6 days |
| 1⁄5 + 1⁄9 = A) 3⁄5 B) 14⁄45 C) 7⁄27 D) 1⁄ | Find the common denominator – 45 B) 14⁄45 Formula: 1/5= 9/45 equals 14/45 1/9= 5/45 |
| Which of the following values is NOT equal to 11(7-1)? Choose one A) (6+5)6 B) 6 x 7 + 8 x 3 C) 1084 – 1018 D) 3 x 22 E) 5 + 1(22-10) | E) 5 + 1 (22-10) 7-1 = 6 11 * 6 = 66 A) 6+5 = 11 * 6 = 66 B) 6*7 = 42 + 8*3 = 24 42+24 = 66 C) 1084 – 1018 = 66 D) 3 * 22 = 66 E) 22-10 = 12 * (5+1= 6) 12 * 6 = 72 |
| This year, 16 out of 800 employees who worked for Corporation Z received awards for their performance, which is _ percentage of the employees. Choose one A) 3 B) 4 C) 8 D) 6 E) 2 | E) 2 16 divide by 800 = 0.02 800-0.02%= 16 |
| A corporation budgeted $6,735 to be spent within the sales department. So far, the department has spent $1,355.55 of the budget. How much money is left in the budget? Choose one A) $5,379.45 B) $5,379.55 C) $8,090.55 E) $5,739.45 | A) $5,379.45 6735-1355.55= 5,379.45 |
| Do the words refrain and attain have opposite meanings, similar meanings or no relation? Choose one A) Opposite B) Similar C) No Relation | A) Opposite Refrain: stop oneself from doing something Attain: accomplish succeed in achieving (something that one desires and has worked for). |
| A 5-foot tall women is standing near a flag pole which casts a shadow of 21 feet on level ground. If the women’s shadow is 3 feet long, how tall is the flag pole? (Enter numerical value only) | Answer 35 feet Person = 5 Person shadow = 3 Flagpole shadow = 21 5 * 21 = 105 105 / 3 = 35 |
| 18/7 is equal to A) 2 4⁄7 B) 1 8⁄7 C) 1 3⁄7 D) 2 1⁄7 | A) 2 4/7 How many times does 7 fit into 18= 2 whole numbers. The remainder is 4. The reminder is 4 2 4/7 In mixed number fractions, 18/7 = 2 with remainder 4 = 2 4/7 In decimal numbers, 18/7 cannot be expressed with a finite number of digits but it’s approximately equal to 2.57142857142857142857142857142857… |
| Do the words revelation and relativity have opposite similar No relation | No relation Revelation: a surprising and previously unknown fact, disclosure, announcement, report. Relativity: the absence of standards of absolute and universal application. |
| What is the next number in the sequence: 4, 11, 25, 53…? Enter a numerical value only. | 109 Multiply the number by 2 and add 3: 25×2=50+3=53 53×2= 106+3=109 |
| To thwart is to: Oppose Threaten Weaken Make fun of | Oppose Thwart: stop, hinder, to oppose successfully; prevent from accomplishing a purpose |
| Which word is different from the others? A. Tomato B. Watermelon C. Apple D. Celery E. Orange | Celery |
| Choose the word that best indicates the meaning of the bolded word in the following sentence. Anna had a very large wardrobe full of designer label clothes she purchased from her newly “acquired” inheritance. Revoked Acquitted Procured Stolen | Procured |
| Jeff worked 44 hours two weeks ago, 34 hours last week, and 42 hours this week. How many hours did he work in total? Choose one 124 hours 122 hours 120 hours 118 hours | 120 hours 44+34+42=120 |
| Which number is larger: .5, 5, 30, 400? Enter a numerical value only. | 400 |
| Aunt is to uncle as grandfather is to: A. Father B. Grandmother C. Mother D. Sister E. Nephew | Grandmother |
| Which identical four-letter word, when placed in front of the following words, forms a new word? PRINT, SHAKE, WRITE, STAND, CUFF | Hand |
| What is the next letter in this sequence? N P O Q P R Q | S N P O Q P R Q N (O is skipped) P O (back) (P is skipped) Q P (back) (Q is skipped) R Q (back) (R is skipped) S letter + skip letter + go back letter + |
| CREDIT CREDENCE These words: A: Have similar meanings. B: Have opposite meanings. C: Have neither similar nor opposite meanings. | A: Have similar meanings. Both credit and credence can refer to a belief in the truth of something. |
| VINTAGE NOVELTY These words: A: Have similar meanings. B: Have opposite meanings. C: Have neither similar nor opposite meanings. | B: Have opposite meanings. Vintage refers to something old, while novelty refers to something new. |
| ASPIRE SPIRE These words: A: Have similar meanings. B: Have opposite meanings. C: Have neither similar nor opposite meanings. | C: Have neither the same nor different meanings. To aspire to something is to set it as a goal, while a spire is the pointed top of a building, especially a church. |
| PRODUCE REDUCE These words: A: Have similar meanings. B: Have opposite meanings. C: Have neither similar nor opposite meanings. | B: Have opposite meanings. To produce something is to bring it into existence, while to reduce it is to take part of it out of existence. |
| ABSTAIN RETAIN These words: A: Have similar meanings. B: Have opposite meanings. C: Have neither similar nor opposite meanings. | B: Have opposite meanings. To abstain from something is to refuse it, while to retain something is to keep it with oneself. |
| CONVERT INVERT These words: A: Have similar meanings. B: Have opposite meanings. C: Have neither similar nor opposite meanings. | A: Have similar meanings. Both of these words can mean to change the purpose or direction of something. |
| RESUME ASSUME These words: A: Have similar meanings. B: Have opposite meanings. C: Have neither similar nor opposite meanings. | C: Have neither similar nor opposite meanings. |
| SIEGE BESIEGE These words: A: Have similar meanings. B: Have opposite meanings. C: Have neither similar nor opposite meanings. | A: Have similar meanings. Both of these words can mean to attack or crowd around. |
| PUNISH SKIRMISH These words: A: Have similar meanings. B: Have opposite meanings. C: Have neither similar nor opposite meanings. | C: Have neither similar nor opposite meanings. To punish is to penalize, while a skirmish is a small fight. |
| CANDOR CONDOR These words: A: Have similar meanings. B: Have opposite meanings. C: Have neither similar nor opposite meanings. | C: Have neither similar nor opposite meanings. Candor is fairness and openness in expression, while a condor is a kind of bird. |
| If three inches of rope cost 7 cents, how much would 2 feet of rope cost? | 56 cents. First, divide the number of inches in 2 feet (24) by 3;then, multiply this number (8) by the price of 3 inches of rope: 8 x 7 = 56 |
| What is the next number in the sequence: 5, 10, 20, 40,…? | 80 The next number is found by multiplying the previous number by 2. |
| What is the next number in the sequence: 3, 8, 18, 38…? | 78. The next number is taken by adding one to each number and then multiplying this sum by 2. |
| What is the next number in the sequence: 5, 9, 17,33,…? | 65 The next number is found by multiplying the number by 2 and then subtracting one from the product. |
| What is the next number in the sequence: 9, 3, 1, 1/3,…? | 1/9 |
| What is the next number in the sequence: 24, 12, 6, 3…? | 1.5 The next number is found by dividing each number by 2. |
| Which of the following numbers represents the greatest amount: 6, 6.0, 0.600, 60? | 60 Be sure to identify the position of the decimal point. |
| Which of the following numbers represents the smallest amount: 0.400, 0.04, 4.0, 40? | 0.04 Be sure to identify the position of the decimal point. |
| Which of the following numbers represents the smallest amount: 3.26, 0.54, 89.00,0.09? | 0.09 It may be helpful to say the numbers out loud: “9 hundredths” is clearly smaller than “54 hundredths.” |
| Which of the following numbers represents the smallest amount: 3899, 629, 89001, 9867? | 629 Make sure to note the number of place values rather than simply looking at the value of the first digit in the number. |
| A physical education class has three times as many girls as boys. During a class basketball game, the girls average 18 points each, and the class as a whole averages 17 points per person. How many points does each boy score on average? | 14 Girls 3 times = 3g Boys average = ba 1) 18 x 3 = 54 2) (54g + ba) / 4g = 17 (average class score per person) 3) (54 + a) / 4 = 17 We can cancel g from numerator and denominator 4) 54 + a = (4 x 17) 5) 54 + a = 68 6) 68 – 54 = 14 7) 54 (girls) + 14 (boys) = 68 |
| Randolph has 8 ties, 6 pairs of pants, and 4 dress shirts. How many days could he possibly go without wearing the same combination of these three items? | 192 days There are 48 different combinations of ties and shirts (8 different ties for each of the 6 pairs of pants), and then four different shirts for each of these combinations. In numerical form: 8 x 6 x 4 = 192. |
| John is a mechanic. He makes $8.50 an hour, plus $3 extra for every oil change he performs. Last week he worked 36 hours and performed 17 oil changes. How much money did he make? | $357 John’s base wage can be figured by multiplying his pay per hour by the number of hours he worked: $8.50 x 36 = 306. His bonus for oil changes is calculated by multiplying the payment per oil change by the number of oil changes performed: 17 x 3 = 51. These two products can then be added together. |
| A box of staples has a length of 6 cm, a width of 7 cm, and a volume of 378 cm cubed. What is the height of the box? | 9 cm volume / (width * length) = height Volume is calculated as the product of length, width, and height, so if height is set as Y: 6 x 7 x Y = 378. This can be rearranged to 378 / 42 = Y = 9. |
| What is the average of all of the integers from 13 to 37? | 25 This kind of problem can be easily solved by simply finding the average of the two extremes in the range: (13 + 37) / 2 = 25. |
| A basketball player averaged 20 points a game over the course of six games. His scores in five of those games were 23, 18, 16, 24, and 27. How many points did he score in the sixth game? | 12 points 1) A basketball player averaged 20 points a game over the course of six games. = 20 points x 6 games = 120 2) 23 + 18 + 16 + 24 + 27 = 108 3) 120 – 108 = 12 points |
| Arnold is about to go on a 500-mile car trip. His mechanic recommends that he buy a special highway engine oil that will save him 50 cents in gas for every 25 miles of the trip. This new oil, however, will cost $20. Is it worthwhile for Arnold to buy the oil if he has a coupon for $4 dollars off the price? | No Arnold will only save $10 by using the oil (.5 x (500 / 25)), and this is still $6 less than the cost of the oil. |
| What is the mathematical average of the number of feet in a yard, seconds in a minutes and months in a year? Enter a numerical value only | 25 There are 3 feet in a yard. There are 60 seconds in a minute. There are 12 months in a year. Add those up and divide by 3 to get the average. (3 + 60 + 12) / 3 = 75/3 = 25 |
| Ben’s weekly parking fee for the first week in June was $26; for the second week it was $8 more than the first week and for the third week $16 less than the second week. What was his average parking fee for these three weeks? Enter a numerical value only. | $26 1st week = $26 2nd week = $26 + $8 = $34 3rd week = $34 – $16 = $18 26 + 34 + 18 = 78 78 / 3 = 26 |
| What is the next number in the sequence: 4, 11, 25, 53…? Enter a numerical value only. | 109 multiply by 2 and add 3 53 + 53 = 106 + 3 = 109 |
| Choose the sentence that best joins the sequence of events stated below without omitting any details or changing the meaning of the sentence. Charles was fired from his job last December. For four months, he was on unemployment. He is going back to college in June. Choose one A) After getting fired in December, Charles went back to college for four months. B) Charles was fired from his job last December; he starts college in four months in June. C) When Charles starts college in June, he will have been on unemployment for four months; he was fired from his job last December. D) Last December, Charles was fired from his job and was on unemployment for four months; he is going to college in June | D) Last December, Charles was fired from his job and was on unemployment for four months; he is going to college in June |
| In the following question find out the alternative which will replace the question mark. CUP : LIP :: BIRD : ? A. BUSH B. GRASS C. FOREST D. BEAK | D. BEAK Explanation: Cup is used to drink something with the help of lips. Similarly birds collects grass with the help of beak to make her nest. |
| In each of the following questions find out the alternative which will replace the question mark. Flow : River :: Stagnant : ? A. Rain B. Stream C. Pool D. Canal | C. Canal Explanation: As Water of a River flows similarly water of Pool is Stagnant. |
| In the following question find out the alternative which will replace the question mark. Paw : Cat :: Hoof : ? A. Lamb B. Elephant C. Lion D. Horse | D. Horse Explanation: As cat has Paw similarly Horse has Hoof. |
| In each of the following questions find out the alternative which will replace the question mark. Ornithologist : Bird :: Archealogist : ? A. Islands B. Mediators C. Archealogy D. Aquatic | C Explanation: As Ornithologist is a specialist of Birds similarly Archaeologist is a specialist of Archaeology. |
| Walk : Legs A. Gleam : Eyes B. Chew : Mouth C. Dress : Hem D. Cover : Book E. Grind : Nose | B Explanation: Walking is a movement of the legs and chewing is a movement of the mouth. Eyes may gleam (A), but this is not a movement. Dress (C) is a whole, of which hem is part; Cover (D) is part of the whole, book. There is an expression, “Keep your nose to the grindstone;” but grind is not a movement of/upon the nose (E). |
| Enfranchise : Slavery A. Equation : Mathematics B. Liberate : Confine C. Bondage : Subjugation D. Appeasement : Unreasonable E. Anatomy : Physiology | B Explanation: Enfranchise is to set free/liberate, and slavery is the opposite-i.e. to enslave/confine. Both sets are antonyms. Equation is part of mathematics (A). Bondage and subjugation (C) are synonyms (for each other and slavery). Appeasement and unreasonable (D) are unrelated. Anatomy and physiology (E) are related subjects. |
| Union Jack : Vexillology A. Toad: Ornithology B. Turtle : Microbiology C. Gymnosperms: Botany D. Friend: Home Economics E. Algae : Zoology | C Explanation: The Union Jack (British flag) is part of vexillology, the study of flags; gymnosperms are part of botany, the study of plants. Toad is not part of ornithology (A), the study of birds. Turtle is not part of microbiology (B), the study of microscopic organisms. Friend is not part of home economics (D), the study of cooking, sewing, and other home skills. Algae, plants, are not part of zoology (E), the study of animals. |
| Topaz : Yellow A. Diamond : Carat B. Jeweler : Clarity C. Sapphire : Red D. Amethyst : Purple E. Amber : Blue | D Explanation: Topazes are yellow and amethysts are purple. Carats (A) are measures of the weight of diamonds, not their color. Jewelers (B) inspect gems for clarity, a quality other than color. Sapphires (C) are blue, not red. Amber and blue (E) are two different colors; neither is a gem. |
| Marathon is to race as hibernation is to A. winter B. bear C. dream D. sleep | D Explanation: A marathon is a long race and hibernation is a lengthy period of sleep. The answer is not choice a or b because even though a bear and winter are related to hibernation, neither completes the analogy. (Choice c) is incorrect because sleep and dream are not synonymous. |
| Cup is to coffee as bowl is to A. dish B. soup C. spoon D. food | B Explanation: Coffee goes into a cup and soup goes into a bowl. Choices a and c are incorrect because they are other utensils. The answer is not choice d because the word food is too general. |
| Rearrange and categorize the word “RAPETEKA”? A. Animal B. Vegitable C. bird D. None of these | B Explanation: bird(parakeet) |
| In the following question find out the alternative which will replace the question mark. 24 : 60 :: 120 : ? A. 160 B. 220 C. 300 D. 108 | C Explanation: As 24:60 = (2/5) Similarly, (120/300) = (2/5). |
| In the following question find out the alternative which will replace the question mark. 4 : 19 :: 7 : ? A. 52 B. 49 C. 28 D. 68 | A Explanation: As, (4)2 + 3 = 19 Similarly, (7)2 + 3 = 52 |
| In the following question find out the alternative which will replace the question mark. LOGIC : BHFNK : : CLERK : __ A. XVRPA B. QBKJA C. LPRTU D. JQDKB | D Explanation: Here is no explanation for this answer |
| In the following question find out the alternative which will replace the question mark. BDF : HIL : : MOQ : _ A. XVT B. TVX C. VTX D. STW | D Explanation: Here is no explanation for this answer |
| In the following question find out the alternative which will replace the question mark. Physician : Treatment :: Judge : ? A. Punishment B. Judgement C. Lawyer D. Court | B Explanation: As Physician does the treatment similarly Judge delivers the judgement. |
| In the following question find out the alternative which will replace the question mark. Cassock : Priest :: ? : Graduate A. Cap B. Tie C. Coat D. Gown | D Explanation: A Priest wears cassock while Graduate wears gown. |
| In the following question find out the alternative which will replace the question mark. 16 : 56 :: 32 : ? A. 96 B. 112 C. 120 D. 128 | B Explanation: As, 16:56 = (2/7) Similarly, 32:112:(2/7). |
| In the following question find out the alternative which will replace the question mark. MXN : 13 x 14 :: FXR : ? A. 14 x 15 B. 5 x 17 C. 6 x 18 D. 7 x 19 | C Explanation: As position of M and N in Eq. alphabets are 13 and 14 respectively. |
| In the following question find out the alternative which will replace the question mark. Race : Fatigue :: Fast : ? A. Food B. Laziness C. Hunger D. Race | C Explanation: As the result of Race is Fatigue similarly the result of Fast is Hunger. |
| In the following question find out the alternative which will replace the question mark. Tree : Forest :: Grass : ? A. Lawn B. Garden C. Park D. Field | A Explanation: As Tree is found in Forest similarly Grass is found in Lawn. |
| The following question, consist of two words each that have a certain relationship to each other, followed by four lettered pairs of words. Select the lettered pair that has the same relationship as the original pair of words.Quesstion: Plants : Coal A. Crops : Manure B. Animals: Oil C. Cow: Milk D. Fire: Smoke | B Explanation: Here is no explanation for this answer |
| The following CAPITALIZED pair of words is followed by four other pairs. Choose the pair, which has a relationship similar to that in the capitalized pair. DISCOVER : SEARCH A. Settle : Negotiation B. Scalpel : Operation C. Heat : Oven D. Fly : Bird | A Explanation: search is an activity and discover is its result.Means agreement scalpel is thing, bird is living organism and oven is thing. so right answer is settle : Negotiation |
| 6:18:4:? A. 2 B. 6 C. 8 D. 16 | C Explanation: 6/18 = 4/x 6/18 = (2/(23^ 4/x = (2/(22^ x = 8 |
| AG:IO::EK:? A. LR B. MS C. PV D. SY | B Explanation: A+6 = G G+2 = I I+6 = O E+6 = K K+2 = M M+6 = S So x=MS |
| Eye : Myopia :: Teeth : ? A. Pyorrhea B. Cataract C. Trachoma D. Eczema | A Explanation: Pyorrhea Myopia is a disease of eye . pyorrhoea is a disease of teeth . 2nd is disease of 1st. |
| Which of the following have the same analogy ? surprise:exclaimation::?:? A. insolence : bow B. dismay : groan C. happiness : grimace D. deference : nod | B Explanation: surprise:exclaimation::dismay:groan |
| A boy buys 18 sharpeners (brown or white) for Rs. 100. For every white sharpener, he pays one rupee more than the brown sharpener. What is the cost of white sharpener & how much did he buy? A. 5, 13 B. 5, 10 C. 6, 10 D. None of these | C Explanation: Assume that he bought b, brown sharpeners and w, white sharpeners and the cost of brown sharpener is x and white sharpener is x + 1 So w(x+1) + bx = 100 w + b = 18 b = 18 – w Substituting in equation 1, we get w(x+1) + (18 -w)x = 100 so w + 18 x = 100 Take option 1: If white sharpners are 13, x = (100 – 13) /18 = 4.833 Option 2, If white sharpeners are 10, x = (100 – 10)/18 = 5 So white sharpeners cost is 6. Option 3 Satisfies this condition. |
| A call center agent has a list of 305 phone nos of people in alphabetic order of names (but she does not have any of the names). she needs to quickly contacts deepak sharma to convey a message to him.If each call takes 2 minutes to complete, and every call is answered, what is the minimum amount of time in which she can guarantee to deliver the message to Mr.Sharma. A. 20 B. 18 C. 10 D. 15 | B Explanation: 305/2=152 152/2=71 71/2=35 35/2=17 17/2=8 8/2=4 4/2=2 2/2=0 we get 0 after 9 times. ans=9*2=18 |
| A, B, C and D go for a picnic. When A stands on a weighing machine, B also climbs on, and the weight shown was 132 kg. When B stands, C also climbs on, and the machine shows 130 kg. Similarly the weight of C and D is found as 102 kg and that of B and D is 116 kg. What is D’s weight A. 58kg B. 78 kg C. 44 kg D. None of these | C Explanation: A+B=132 B+C=130 C+D=102 B+D=116 A+2B+C=262 B+C+2D=218 A+B-2D=44 132-2D=44 D=44 |
| Below is a pseudo code Read x While(x < 60) write x x = x*3 The last number in the sequence is 54, what has the user entered as the initial value of x A. 2 B. 5 C. 3 D. 4 | A Explanation: Given Last value int seq. = 54. and in every Loop result multiplied By 3. So By Backward Approach 54/3=18 => 18/3=6 => 6/3=2. So, The Starting Value Is 2 |
| A family I know has several children. Each boy in this family has as many sisters as brothers but each girl has twice as many brothers as sisters. How many brothers and sisters are there? A. 5 boys and 3 girls. B. 3 boys and 4 girls. C. 4 boys and 4 girls. D. 4 boys and 3 girls. | D Explanation: Lets assume no. of girls = x and boys = y y = (x+1) ———– (i) As each boy have equal no. of sisters and brothers and he is not included in brothers. so, 1 is for him in (x+1). y = 2(x-1) —— (ii) as each girl have (x-1) sisters. By solving eq. (i) and(ii) girls = 3 and boys = 4 |
| In a soap company a soap is manufactured with 11 parts. For making one soap you will get 1 part as scrap. At the end of the day u have 251 such scraps. From that how many soaps can be manufactured? A. 25 B. 22 C. 28 D. 30 | A Explanation: 251 scraps will be used to make 22 soaps with remaining 9 scraps. again the 22 soaps will produce 22 scraps. so 22+9=31 scraps which makes 2 soaps with remaining 9 scraps. Again the 2 soaps will produce 2 scraps. => we have 11 scraps which can be used to make 1 soap with 1 scrap as remaining. Therefore totally,22+2+1=25 soaps. ShortCut By :: Susmito Bhattacharyya simply the resultant number of sscraps needed to make one soap is = 10 scraps so the answer = quotient of (251/10) = 25 |
| Every day a cyclist meets a train at a particular crossing. The road is straight before the crossing and both are traveling in the same direction. The cyclist travels with a speed of 10 Kmph. One day the cyclist comes late by 25 min. and meets the train 5km before the crossing. What is the speed of the train? A. 66 kmph. B. 40 kmph. C. 60 kmph. D. 76 kmph. | C Explanation: Speed of the train = 60km/hr. Speed of Cyclist travel = 10km/hr. It means, Cyclist travels 5km in 30minutes. If Cyclist comes late by 25 min and meets the train 5km before the crossing means, it shows Train can travel 5Kms in 5minutes. So, speed of train is (5 km/5min) = 1 km/1min = 60km per hour. |
| If a man ate 100 grapes in 5 days, each day eating 6 more than the previous day, how many grapes did he eat on the first day? A. Eight B. Five C. Ten D. Twelve | A Explanation: x (x 6) (x 12) (x 18) (x 24)=100 x=8 |
| A workman starts his work on Monday works for 8 days and takes every 9th day as his holiday. His 12th holiday will fall on? A. Monday B. Wednesday C. Thursday D. Tuesday | B Explanation: From day 1 to 9 is considered as one cycle 12th holiday is 12*9=108 excluding starting day monday it is 107 days. 107 has 2 odd number is 1,7 So, Monday + 2days(2 odd no)=wednesday |
| Two numbers A and B are such that the sum of 5% of A and 4% of B is two-third of the sum of 6% of A and 8% of B. Find the ratio of A : B. A. 2 : 1 B. 1 : 2 C. 1 : 1 D. 4 : 3 | D Explanation : 5% of A + 4% of B = 2/3 (6% of A + 8% of B) 5A + 4B = 2/3 (6A + 8B) 100 100 100 100 ⇒ 5A + 4B = 2/3 (6A + 8B) ⇒ 15A + 12B = 12A + 16B ⇒ 3A = 4B ⇒ AB = 4 3 ⇒ A : B = 4 : 3 |
| A shopkeeper will earn 12% profit on an item after giving 20% discount to the customer. By what percentage should the market price price be increased to get to label price? | 40% In Profit and Loss problems always assume some values. Its the fastest way to solve problems. In problems having marked price, assume cost price to be 100. CP = 100. There is a gain of 19 %. So, selling price would be 119 SP = 119. There is 15 % discount on marked price. So 119 is actually 85 % of the marked price. To get marked price -> 119 -> 85 ? -> 100 Cross multiply. =(119 * 100)/85 = (119 * 20)/17 = 7 * 20 = 140 MP = 140 Above cost price = 140 -100 = 40 |
| The salaries A, B, C are in the ratio 2 : 3 : 5. If the increments of 15%, 10% and 20% are allowed respectively in their salaries, then what will be new ratio of their salaries? A. 3 : 3 : 10 B. 10 : 11 : 20 C. 23 : 33 : 60 D. Cannot be determined | C Explanation: Let A = 2k, B = 3k and C = 5k. A’s new salary = 115 of 2k = 115 x 2k = 23k 100 100 10 B’s new salary = 110 of 3k = 110 x 3k = 33k 100 100 10 C’s new salary = 120 of 5k = 120 x 5k = 6k 100 100 New ratio 23k : 33k : 6k = 23 : 33 : 60 10 10 |
How Do You Answer a Progressive Questionnaire?
If referring to a Progressive assessment test, such as the one used by Progressive Insurance, it is important to approach it honestly and thoughtfully. Here are some general guidelines for answering assessment tests:
- Read the questions carefully: Read each question thoroughly so you understand what is being asked before answering. Some questions may be framed to evaluate your critical thinking, problem-solving, or decision-making skills.
- Be honest: Answer the questions truthfully, based on your genuine opinions, beliefs, and experiences. These tests are designed to evaluate your personality, knowledge, and skills, so providing accurate responses is important.
- Stay consistent: Be consistent with your answers throughout the test. Inconsistencies in your responses may raise red flags to the test administrators and can impact the validity of your results.
- Take your time: Don’t rush through the test. Give yourself enough time to read and understand each question and consider your answer carefully.
- Stay focused: Minimize distractions while taking the test. Find a quiet, comfortable space where you can concentrate on the questions and your responses.
- Reflect on your experiences: When answering questions about your work history or problem-solving abilities, draw from your past experiences to provide detailed and relevant examples.
- Stay calm: Feeling anxious when taking an assessment test is normal. Stay calm and focused, and remember that the test’s purpose is to evaluate your fit for a specific role or company.
Remember that these assessments aim to help you and the employer determine if you are a good fit for the position. By answering honestly and thoughtfully, you can increase your chances of being matched with a role that aligns with your skills and personality.
How is the Progressive Assessment?
The Progressive assessment is a pre-employment test used by Progressive Insurance to evaluate potential candidates for various positions within the company. The assessment is designed to measure a candidate’s aptitude, skills, and personality traits, ensuring they are a good fit for the role and company culture. It is challenging, with only a small percentage of candidates successfully moving on to the next step in the hiring process. The test typically takes around 50 minutes to complete and consists of three parts:
- Verbal and Numerical Reasoning: This section tests your ability to understand and interpret written information and numerical data. It assesses your critical thinking, problem-solving, and decision-making skills. It may include questions related to reading comprehension, data analysis, and basic math.
- Work Style Assessment (42 questions): This section evaluates your work-related preferences, habits, and styles. It aims to determine how well you align with Progressive’s work culture and values. Questions may cover topics such as teamwork, adaptability, communication, and leadership.
- Personality Assessment (54 questions): This part measures your personality traits to determine whether your character suits the role and the company well. You may be asked about your motivation, stress management, conflict resolution, and other personal qualities.
To succeed in the Progressive assessment, preparing by practicing verbal and numerical reasoning questions, reflecting on your work style and personality traits, and understanding the company’s values and culture is essential. Be honest and consistent in your responses, and take your time to read and understand each question carefully. With adequate preparation and focus, you can increase your chances of passing the assessment and moving forward in the hiring process.
How Long Does it Take to Hear Back From Progressive?
It typically takes one to four weeks to hear back from Progressive after submitting your application. The exact time frame may vary depending on the role and the number of applicants, but you can generally expect to receive a response via email or phone call within this period.
Sources
Was this helpful?
Let us know if this was helpful. That’s the only way we can improve.
