• 50 questions

NOCTI Business Financial Management Practice Test

Unofficial practice for NOCTI Business Financial Management: statements, taxes, business math, economics, ethics, communication and workplace skills.

Money a business owes to its suppliers is called accounts payable. How is it shown on the balance sheet?

Pick an answer, then press Check answer. Then you see Correct or Not quite, with the reason. Keys: A to D pick, Enter checks.

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Exam mode: 50 questions, 57 minutes.

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Unofficial practice questions, not affiliated with NOCTI. Bank checked October 16, 2026.

Next step More finance: DSST Principles of FinanceAnother NOCTI test: Administrative Assisting

All 50 questions

General Finance Technical Skills 7

  • A bank plans how it will market a new savings account. Which four elements make up the classic marketing mix? Wikipedia, Marketing mix. Written to NOCTI Business Financial Management (1095), General Finance Technical Skills
  • A credit union divides its members into groups by age and income so that each group can be offered suitable products. What is this practice called? Wikipedia, Market segmentation. Written to NOCTI Business Financial Management (1095), General Finance Technical Skills
  • A firm has delivered goods to customers who have been invoiced but have not yet paid. Where do these amounts sit in the firm's books? Wikipedia, Accounts receivable. Written to NOCTI Business Financial Management (1095), General Finance Technical Skills
  • In accounting software, which module holds the company's "books", where the entries from the other modules are collected? Wikipedia, Accounting software. Written to NOCTI Business Financial Management (1095), General Finance Technical Skills
  • Money a business owes to its suppliers is called accounts payable. How is it shown on the balance sheet? Wikipedia, Accounts payable. Written to NOCTI Business Financial Management (1095), General Finance Technical Skills
  • Under accrual accounting, when is revenue from a completed service recognized? Wikipedia, Accrual. Written to NOCTI Business Financial Management (1095), General Finance Technical Skills
  • What is customer relationship management (CRM) used for? Wikipedia, Customer relationship management. Written to NOCTI Business Financial Management (1095), General Finance Technical Skills
Show all 50 questions (43 more)

Business Financial Management Technical Skills 9

  • A business must be able to prove the expenses it deducts on a tax return. What does the IRS call this responsibility to substantiate entries and deductions? IRS, Recordkeeping. Written to NOCTI Business Financial Management (1095), Business Financial Management Technical Skills
  • A business owner qualifies for a $1,000 tax credit. According to the IRS, what does a credit do? IRS, Credits and deductions for individuals. Written to NOCTI Business Financial Management (1095), Business Financial Management Technical Skills
  • A department budgeted $8,000 for supplies and spent $9,200. In budgeting, what is the $1,200 difference called? Wikipedia, Variance (accounting). Written to NOCTI Business Financial Management (1095), Business Financial Management Technical Skills; the arithmetic was worked twice
  • A food cart has fixed costs of $900 a month. A meal sells for $9 and its ingredients cost $6. How many meals a month cover all costs, with no profit and no loss? Written to the NOCTI Foundational Credential Blueprint for Business Financial Management (1095), Business Financial Management Technical Skills; the answer is arithmetic on the numbers in the question, worked twice
  • A lender looks at a firm's working capital. How is working capital calculated? Wikipedia, Working capital. Written to NOCTI Business Financial Management (1095), Business Financial Management Technical Skills
  • Into which three kinds of activities does a cash flow statement break down the movement of cash? Wikipedia, Cash flow statement. Written to NOCTI Business Financial Management (1095), Business Financial Management Technical Skills
  • The IRS says that some tax credits are refundable. What can a refundable credit do? IRS, Credits and deductions for individuals. Written to NOCTI Business Financial Management (1095), Business Financial Management Technical Skills
  • Which financial statement summarizes what a business owns and owes at one point in time, and is also called the statement of financial position? Wikipedia, Balance sheet. Written to NOCTI Business Financial Management (1095), Business Financial Management Technical Skills
  • Why are the profits of a C corporation sometimes said to be taxed twice? U.S. Small Business Administration, Choose a business structure. Written to NOCTI Business Financial Management (1095), Business Financial Management Technical Skills

Academic Foundations 6

  • A business borrows $5,000 at 6% simple interest a year. How much interest does it owe after 2 years? Written to the NOCTI Foundational Credential Blueprint for Business Financial Management (1095), Academic Foundations; the answer is arithmetic on the numbers in the question, worked twice
  • A store has revenue of $200,000 and cost of goods sold of $120,000. What is its gross margin? Wikipedia, Gross margin. Written to NOCTI Business Financial Management (1095), Academic Foundations; the arithmetic was worked twice
  • An office lease goes from $2,400 a month to $2,520 a month. By what percent did the rent go up? Written to the NOCTI Foundational Credential Blueprint for Business Financial Management (1095), Academic Foundations; the answer is arithmetic on the numbers in the question, worked twice
  • An owner uses savings to buy a delivery van, not to pay down a loan. In economics, what is the opportunity cost of that choice? Wikipedia, Opportunity cost. Written to NOCTI Business Financial Management (1095), Academic Foundations
  • Before a client report is published, a printer's trial copy is compared against the original manuscript to find transcription errors. What is this phase of publishing called? Wikipedia, Proofreading. Written to NOCTI Business Financial Management (1095), Academic Foundations
  • When there is inflation, what happens to the amount that one dollar can buy? Wikipedia, Inflation. Written to NOCTI Business Financial Management (1095), Academic Foundations

Systems 3

  • A customer asks whether her savings are safe if the bank fails. To at least what amount does the FDIC insure deposits at each insured bank? Federal Deposit Insurance Corporation, Deposit Insurance. Written to NOCTI Business Financial Management (1095), Systems
  • Consumers across the country cut their spending and economic activity declines broadly for a period. What is this part of the business cycle called? Wikipedia, Recession. Written to NOCTI Business Financial Management (1095), Systems
  • Which federal agency, created after the Wall Street crash of 1929, enforces the federal securities laws? Wikipedia, U.S. Securities and Exchange Commission. Written to NOCTI Business Financial Management (1095), Systems

Ethics and Legal Responsibilities 3

  • A bookkeeper who is trusted with the firm's cash secretly takes some of it for personal use over several months. What is this crime called? Wikipedia, Embezzlement. Written to NOCTI Business Financial Management (1095), Ethics and Legal Responsibilities
  • A financial adviser steers clients into one fund because its manager pays him a fee for each sale, and he does not tell the clients about the fee. Which ethical problem does this show? Wikipedia, Conflict of interest. Written to NOCTI Business Financial Management (1095), Ethics and Legal Responsibilities
  • A manager at a listed drug maker learns that its main product has failed a safety trial and sells her stock in the company before the public is told. What is this called? Wikipedia, Insider trading. Written to NOCTI Business Financial Management (1095), Ethics and Legal Responsibilities

Communications 6

  • A loan officer wants to practice active listening with a client. Which of these is one of its basic techniques? Wikipedia, Active listening, Techniques of active listening. Written to NOCTI Business Financial Management (1095), Communications
  • A presenter wants to show how monthly revenue has changed over three years. Which chart is often used to show a trend over intervals of time? Wikipedia, Line chart. Written to NOCTI Business Financial Management (1095), Communications
  • A report must show what share of total expenses each department accounts for. Which chart shows proportions of a whole as slices of a circle? Wikipedia, Pie chart. Written to NOCTI Business Financial Management (1095), Communications
  • An analyst copies two paragraphs from a published report into a client memo without naming the source. What is this? Wikipedia, Plagiarism. Written to NOCTI Business Financial Management (1095), Communications
  • In a meeting a coworker says "fine" while frowning with arms crossed. Which kind of communication carries the second message? Wikipedia, Nonverbal communication. Written to NOCTI Business Financial Management (1095), Communications
  • In business, which kind of written message is typically used for communication inside the firm, where a letter would be used for outside parties? Wikipedia, Memorandum. Written to NOCTI Business Financial Management (1095), Communications

Information Technology Applications 3

  • A bank prepares one master notice and lets the word processor fill in each client's details from a spreadsheet to print personalized copies. What is this feature called? Wikipedia, Mail merge. Written to NOCTI Business Financial Management (1095), Information Technology Applications
  • A budget is built in a spreadsheet program. How does a spreadsheet lay out its data? Wikipedia, Spreadsheet. Written to NOCTI Business Financial Management (1095), Information Technology Applications
  • A manager wants to summarize 5,000 rows of sales data by region and month without writing formulas. Which spreadsheet tool groups and totals the values of a larger table? Wikipedia, Pivot table. Written to NOCTI Business Financial Management (1095), Information Technology Applications

Problem Solving, Critical Thinking, and Decision Making 4

  • A manager lists what a new billing system would cost and what it would save, then compares the two totals before deciding. Which decision tool is this? Wikipedia, Cost–benefit analysis. Written to NOCTI Business Financial Management (1095), Problem Solving, Critical Thinking, and Decision Making
  • A planning team fills in a four-part grid for the business. What do the letters in SWOT stand for? Wikipedia, SWOT analysis. Written to NOCTI Business Financial Management (1095), Problem Solving, Critical Thinking, and Decision Making
  • Month-end reports keep going out late. A team sets out to find the underlying source of the problem, not just its symptoms. What is this method called? Wikipedia, Root cause analysis. Written to NOCTI Business Financial Management (1095), Problem Solving, Critical Thinking, and Decision Making
  • To trace an error to its source, a supervisor keeps asking "why?" of each answer in turn. What is this technique called? Wikipedia, Five whys. Written to NOCTI Business Financial Management (1095), Problem Solving, Critical Thinking, and Decision Making

Leadership and Teamwork 4

  • A manager delegates a task, with the authority to carry it out, to a team member. What happens to the manager's own responsibility for it? Wikipedia, Delegation. Written to NOCTI Business Financial Management (1095), Leadership and Teamwork
  • A team keeps discussing a proposal and changing it until every member can support it, with no vote taken. What is this way of deciding called? Wikipedia, Consensus decision-making. Written to NOCTI Business Financial Management (1095), Leadership and Teamwork
  • A team leader shares decision-making with the members of the group and wants everyone to play a part in its decisions. Which leadership style is this? Wikipedia, Leadership style, Democratic. Written to NOCTI Business Financial Management (1095), Leadership and Teamwork
  • In Tuckman's model of team development, which stage comes first? Wikipedia, Tuckman's stages of group development. Written to NOCTI Business Financial Management (1095), Leadership and Teamwork

Safety, Health, and Environmental 3

  • A tax office with 25 employees is required to have an emergency action plan. Under the OSHA rule, in what form must the plan be kept? OSHA, 29 CFR 1910.38, paragraph (b). Written to NOCTI Business Financial Management (1095), Safety, Health, and Environmental
  • An accounting clerk works at a computer all day. In OSHA's workstation guidance, where is the monitor placed? OSHA eTool, Computer Workstations: Monitors. Written to NOCTI Business Financial Management (1095), Safety, Health, and Environmental
  • In OSHA's workstation guidance, how should the wrists be held while typing? OSHA eTool, Computer Workstations: Keyboards. Written to NOCTI Business Financial Management (1095), Safety, Health, and Environmental

Employability and Career Development 2

  • A bank teller takes evening courses and earns a certification to qualify for a better position. What is this kind of learning called? Wikipedia, Professional development. Written to NOCTI Business Financial Management (1095), Employability and Career Development
  • A graduate applies for a job as a loan processor. Which document is sent along with the résumé as a letter of introduction? Wikipedia, Cover letter. Written to NOCTI Business Financial Management (1095), Employability and Career Development

How this list was compiled: Our own questions, written to the competency list of the Foundational Credential Blueprint for Business Financial Management (code 1095, version 01, original release 2009, content review 2026) that NOCTI publishes at https://www.nocti.org/wp-content/uploads/Blueprints/FoundBusFinMgmt1095.pdf , read 2026-10-16: a written assessment of 106 questions in 2 hours over eleven areas (General Finance Technical Skills 13%; Business Financial Management Technical Skills 19%; Academic Foundations 13%; Systems 5%; Ethics and Legal Responsibilities 6%; Communications 12%; Information Technology Applications 7%; Problem Solving, Critical Thinking, and Decision Making 8%; Leadership and Teamwork 7%; Safety, Health, and Environmental 6%; Employability and Career Development 4%), with no performance assessment. This bank holds 50 in those proportions. Every rule and definition was read on 2026-10-16 on the public page named under its question: the Internal Revenue Service, the U.S. Small Business Administration, the Federal Deposit Insurance Corporation, OSHA (29 CFR 1910.38 and the computer workstation eTool) and Wikipedia. Every amount in a sum is made up for the drill, and each computed answer is arithmetic that was worked twice. Licence: Questions, choices and explanations are original work of this site.

How it works

This free NOCTI Business Financial Management practice test has 50 questions of our own, sorted by the eleven areas of the Foundational blueprint, code 1095. It is unofficial and not affiliated with, endorsed by or sponsored by NOCTI.

Read the full guide

Eleven areas, two of them technical

Business Financial Management Technical Skills is 19% of the written assessment, and General Finance Technical Skills and Academic Foundations 13% each. Communications is 12%, Problem Solving 8%, Information Technology and Leadership 7% each, Ethics and Safety 6% each, Systems 5% and Employability 4%.

57 minutes for 50

A timed round of all 50 keeps the pace of the real assessment, 106 questions in 2 hours. The blueprint prints no pass mark, so the result is a score with no verdict.

A written test only

Business Financial Management is one of NOCTI's Foundational assessments. They measure fundamental competencies in a field and have a written part with no performance jobs.

  • Break-even units: fixed costs divided by what one sale contributes, its price minus its variable cost.
  • A tax credit comes off the tax owed. A deduction comes off the income that is taxed.

Questions and answers

How many questions are on the NOCTI Business Financial Management test?

The Foundational blueprint, code 1095, lists 106 written questions with an administration time of 2 hours, given in one, two or three sessions, online or on paper. There is no performance assessment.

What is on the NOCTI Business Financial Management test?

Accounting procedures, marketing and customer service; financial reports, tax structures and financial regulation; then reading, writing, math and economics, communications, spreadsheets and databases, problem solving, leadership, ethics, office safety and career skills. The two technical areas are 32% of the questions.

What score passes the NOCTI Business Financial Management test?

The blueprint gives the number of questions, the time and the weight of each area, and no passing score. Ask your teacher how your program uses the result.

Where is the NOCTI Business Financial Management blueprint?

NOCTI posts it free at nocti.org/credentials/blueprints: a PDF with the standards and competencies, the weight of each area and ten sample questions. None of those samples is used or reworded on this page.

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