Question 1

You need 15,000 in two years in order to take that long-awaited and much deserved vacation of your dreams. You can earn 12% interest, compounded quarterly from your credit union. How much money do you need to set aside now?

Options :

A : 10,058.25

B : 11,841.14

C : 11,957.91

D : 12,802.36

Answer: B

Question 2

You have the following salary grades and midpoints. Your org wants to have a constant midpoint progression. What would be the midpoint percentage?

Grade 10 = Midpoint 2,000

Grade 11 = Midpoint 2,217

Grade 12 = Midpoint 2,456

Grade 13 = Midpoint 2,698

Options :

A : 8%

B : 9.6%

C : 10.5%

D : 11.7%

Answer: C

Question 3

What is the median of the following data?

7, 17, 3, 19, 13, 9, 7

Options :

A : 7

B : 9

C : 13

D : 11

Answer: B

Question 4

If you earn 50,000 per year and your co-worker in the same job earns 60,000, what percent adjustment do you need to equal your co-worker?

Options :

A : 18%

B : 20%

C : 10%

D : 80%

Answer: B

Question 5

You have been asked to comment on a proposed provision in the union contract. over the next 3 years, management proposes increases of 2%, 2.5%, 3% over the 3 year life of the contract. The union negotiator insists that it be 3%, 2.5%, 2.0%. Assuming the hourly rate for a job class is 12.50/hr., what is the rate in three years?

Options :

A : It will be 13.46 after three years

B : Management rate is higher

C : Union rate is higher

D : Cannot calculate

Answer: A

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