Official Practice Question
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A company that produces dining room tables determines that market price of a table is $150. They make 15% profit percentage from each table. This month they produce 2800 tables. Find their profit. *
5 points
Cost for assembling a smart phone is given in formula C(q) = 500 - 2q. Where C is cost, and q is cost for parts. If cost for parts equal $75, find total cost to assemble 1500 smart phones. *
5 points
A project is budgeted for 1200 hours and will last 4 weeks. A labor covered 30% of the workload in the first two weeks and then covered 60% for the final two weeks. If a labor normally works 50 hours per week, how many total hours will the labor cover? *
5 points
Harry’s company can store 50,000 units of their new product in the warehouse, the maximum capacity for the warehouse. They sold 20,000 in pre-orders that will need to be shipped immediately. They can produce 3000 units per week, and they are receiving 1500 orders per week. How long will it take to fill the warehouse to maximum capacity based on the current production rate? *
5 points
A project is estimated to take 300 hours but can be completed whenever the team has spare time. Three employees will take turns working on the project. The first employee completes one-third of the project. The second completes one-fifth of the work remaining. The third completes one-half of the work remaining. How many hours are left for the fourth employee to complete? *
5 points
The critical path of a project includes 45 business days in phase one, 20 business days in phase two, 15 business days in phase three, and 10 business days in phase four. The workforce is expected to work six days per week. If the project needs to be complete by, If the project started on 2nd January, when is the deadline? Do not include any holidays or employee time off. *
5 points
The current salaries in Sasha’s department are $42,000, $32,000, $33,000, $38,000, and $50,000. Sasha wants to adjust the lowest salary up to $40,000. If Sasha gives every employee a $1,000 raise in addition to adjusting the lowest salary, Find the total cost for the increment? *
5 points
Kim is paid $15 per normal working hours and will get 2x the hourly rate for every hour over 45. This week she works 62 hours. Kim is required to invest 10% in a pre-tax company retirement fund and pays 3% to a pre-tax health savings account. How much is her paycheck this week? *
5 points
A project is budgeted for 2400 hours and will last 3 weeks. Technicians will cover 25% of the project for the first week and then 60% for the final two weeks. If each technician normally works 40 hours per week, how many technicians are there? *
5 points
XYZ Company has a budget of $40,000 and seeks to buy stocks from NVR Company. In the first hour, unit price of a stock is $2.8 and in the second hour price has increased by 25%. XYZ company bought 10,000 stocks in first hour. Approximately how many stocks NVR company would buy in second hour? *
5 points
A editing project is budgeted to take 300 hours but can be completed whenever the team has spare time. Olivia, Kris, Jacky, and Zion are working on this project. Olivia completes one-third of the project. Kris completes one- fifth of the work remaining. Jacky completes half of the work remaining. How many hours are left for the Zion to complete? *
5 points
Accounting department of “NERDS” company has 120,000 hours of work to complete for the next year.80,000 hours can be completed in the first 8 months, then the remaining 40,000 hours must be completed in the last 4 months. Company plans to add freelancers to handle the additional work in the last 4 months. A Freelancer works 200 hours per month.  Approximately how many freelancers will company need to hire? *
5 points
Larry needs to hire a new employee. Current projections indicate that the department will generate 8 million USD in gross revenue. Larry is expected to maintain a 15% annual profit margin. Current projected expenses for the year are 6.3 million USD. For budgeting purposes, the actual cost of an employee is assumed to be twice the employee’s annual salary. Based on his budget and current projections, what is the maximum salary Larry can offer a new employee? *
5 points
Four companies are partnering to do a large-scale project. 2nd company will complete twice as much work as 1st company. 1st company will complete 3 times as much work as 3rd company.  3rd company will complete four times as much work as 4th company. If the total job costs $4,100,000. How much money 4th company should receive? *
5 points
Roy, Sydney, Mila, Taniya invested money on a project. Roy invested twice as Sydney. Mila invested twice as Roy.  Taniya invested half as Mila. If the total profit of the project is $27,000. What percentage of profit Mila should receive? *
5 points
Reasoning.
Administrator: Over the last several years, we have more than tripled our revenues, but profits have consistently declined due to a rising number of purchasers who have failed to pay their balances. To compensate for these higher default rates, we will raise the interest charged on b balances from an annual percentage rate (APR) of 10.5% to an APR of 12%. This raise will be enough to make up for the lost profits.                                                                                                         Which of the following statements, if true, would most seriously undermine the plan? *
5 points
Firm Y and Firm Z have each been constructing a rocket ship able to fly to Mars. After six years of design and building, the rocket ships have been revealed to the public, which clearly identifies the rocket ships are so similar in design as to be indistinguishable. Therefore, one of the firms must have had information concerning the design of the other rocket ship.              Which of the following, if true, would most call in to question the validity of the argument? *
5 points
Corporation D produces and sells widgets that are identical from those produced and sold by Corporation A. Given the hazard nature of producing these widgets, worker healthcare accounts for one-tenth of the price of producing at both Firm D and Firm A. Corporation D is looking to obtain a competitive advantage over Corporation A, and in an aim to attain such, Firm D should lower the amount it spends on worker healthcare. Which of the following, if true, would most weaken the argument above? *
5 points
Salim: The profitability of Firm Y increased after reverting to private ownership 10 years ago. This is clearly proof that a business will always perform better under private ownership rather than public.               John: Wrong. A close view at the data shows that Y has been profitable since they assigned a first-class manager, which happened while Y was still in the public domain.                                                                                     Which of the following best identifies the weakness in Salim’s conclusion? *
5 points
Financial expert: Although open-source software has earned fame in the previous years, its usefulness is entirely limited. This is because the most creative plans originate from software designers, not volunteers.                                                   Journalist: I, too, was once dubious about whether open-source software would become a viable feature. However, I realized that this unit could not have been produced without the open-source software volunteers who allowed me to interview them. The journalist’s response to the economist is flawed for which of the following reasons? *
5 points
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