QUESTION 1 An Indemnity may be satisfied by: Cash Payment Replacement of what was damaged Repair of what was damaged All of the above QUESTION 2 The Financing form where a company receives funding to purchase materials to satisfy a customer order is called: Secured Loan Factoring Bank Loan Purchase Order Factoring QUESTION 3 None of the owners of a company that receives a SBA 7(a) loan are required to provide personal guarantees. True False O OOO The SBA acts as a co-signer on loans providing a guarantee that up to 85% of the loan amount will be repaid if the startup company defaults. True False QUESTION 5 Both S-Corporations and C-Corporations are subject to double taxation because they owe taxes in their own right and their shareholders owe tax on any dividends they receive. True False QUESTION 6 When several parties agree to form a corporation they do so only for a fixed period of time True False Small Business Investment Corporations [SBICS] are a special part of the Small Business Administration [SBA]. True False QUESTION 8 All of the following are types of debt finance except: Loan Asset Backed Credit Line Preferred Stock Promissory Note QUESTION 9 All of the following are benefits of leasing equipment except: Equipment is serviced by the Lessor Depreciation gives a tax benefit Avoids equipment obsolescence Preserves Capital