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Q.1
Which of the following are to be included as assets on a personal financial statement?
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Wills and probates
Checking and savings account
Monthly Income
Business credit cards
Q.2
When applying for a business credit card, will the credit card company require the business owner to provide his or her social security number as part of the application process?
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Yes
No
Q.3
What is the minimum credit score of a business owner for a small business adminstration (SBA) loan?
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580
620
680
720
Q.4
What is the minimum personal net worth of the business owner required to start a business?
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$20,000
$50,000
$100,000
None of the above
Q.5
What is the best business entity structure for a company that has two owners and a lot of assets?
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Sole Proprietorship
Limited Liability company
C-corporation
General Partnership
Q.6
What is the lowest down payment percentage compared to the purchase price of a business that is needed to buy a business?
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It depends on the business type or the lender
0%
15%
30%
Q.7
Let’s say you have worked for a company for many years and have built up a sizeable retirement fund. Do you have to liquidate your retirement account in order to invest these funds in your business?
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Yes
No
Q.8
Venture Capitalists usually make investments in a business in exchange for what?
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Real Estate
Ownership in the business
Personal guarantee by the business owner
Venture Capitalists don’t require anything in exchange for an investment in a business.
Q.9
Which form of financing generally does not require a personal guarantee by the small business owner?
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Equipment lease
Accounts receivable factoring
Real estate mortgage loan
Home Equity Line of Credit
Q.10
To receive your score to see how ready you are to ask for business financing, please enter your email address:
*
(e.g. john@example.com)
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