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PRAXIS Praxis Business Education: Content Knowledge (5101)Exam Sample Questions:

1. Which of the following is an example of place utility?

A) Arrangements are made for the transfer of title from seller to buyer.
B) A business firm converts raw materials into finished products.
C) Products requested by the consumer are ordered on demand.
D) Goods or services are available at a convenient location when the consumer wants to buy them.

2. A business education teacher is preparing a lesson on contract law and wants to illustrate a scenario where a contract is voidable due to misrepresentation. Which of the following scenarios best demonstrates a voidable contract due to fraudulent misrepresentation?

A) A vendor sells a used laptop to a student, claiming it is new, knowing it was refurbished, and the student relies on this claim when purchasing.
B) A company signs a lease agreement with a landlord who mistakenly lists the wrong square footage, but the company signs without verifying the details.
C) An employer offers a job candidate a salary that is lower than advertised, but the candidate accepts without noticing the discrepancy.
D) A retailer sells a product with a minor defect that does not affect its functionality, and the buyer does not inspect the product before purchase.

3. During the interview of a new teacher for a job, the principal says, "Tell me a little about yourself." Which of the following types of questions best describes the dialogue?

A) Open-ended
B) Closed-ended
C) Behavioral
D) Motivational

4. Which of the following is a line of credit for which a customer pays a commitment fee and is then allowed to use the funds when they are needed?

A) Installment credit
B) Revolving credit
C) Trade credit
D) Service credit

5. Which of the following is an example of a primary source?

A) Reading a book
B) Conducting an interview
C) Studying a journal article
D) Searching a website

Solutions: