California Future Business Leaders of America

Your Future Is Our Business


  • Category: Objective Test 
    Type: Individual (Grades 6 -10)

    ELIGIBILITY: The participant may not have previously competed in this event at the national level. FBLA Members currently enrolled in grades 6-10 are eligible to compete in this event. If a student in grades 6,7, or 8 places first, second, third, or fourth at the State Leadership Conference, he/she cannot compete at the national level per national eligibility guidelines.

    SECTION: Each local chapter may enter three (3) members. (refer to Objective Test Guidelines for more information on number of competitors)
    STATE: A minimum of the top six (6) places from the section competition will represent their section at the State Leadership Conference.
    NATIONAL: The top four(4) places in the state competition will represent California at the National Leadership Conference. NOTE: Some SLC top-10 competitors will become eligible for the national conference as a result of drops. Make sure you get early approval from your parents to attend the National Conference so you will be in a position to say "yes" to your adviser if you are "bumped up".

    Overview: 60-minute test administered during the Conference.

    Objective Test Competencies: Consumerism; Characteristics and Organization of Business; Money Management, Banking, and Investments; Rights and Responsibilities of Employees, Managers, Owners, and Government; Career Awareness; Insurance; Economic Systems; Ethics; Global (International) Business

    Skills: This event provides recognition for FBLA members who demonstrate an understanding of the American business enterprise system and its effect on consumers, employees, and entrepreneurs.

    GUIDELINES: (It is highly recommended that competitors read all guidelines)
    Objective Test
    General (All Events)
    General Competitive Events Tips
    Objective Event Tips

    1. List sources of consumer information
    2. Identify rights and responsibilities of consumers and list ways to protect consumer rights
    3. Explain the function of organizations such as the Better Business Bureau and the Federal Trade Commission.
    4. Analyze the characteristics, motivations, and behaviors of consumers
    5. Interpret financial elements to determine impact on consumer behavior.
    6. Describe the use of advertisements and other marketing strategies.
    7. Explain the importance of comparative shopping.
    8. Describe the difference between a promotional and a clearance sale.
    Characteristics and Organization of Business
    1. Define the main goals and functions of a business
    2. Explain the difference between gross profit and net profit.
    3. List and describe the steps in organizing a business.
    4. Define the main features, advantages, and disadvantages of various types of business ownership
    5. Describe the major functions of business and their relationship to one another.
    6. Identify current business trends to recognize changes needed in business operations
    7. Develop a business plan that facilitates growth and business success.
    Money Management, Banking, and Investments
    1. Discuss the nature of monetary policy and the role of the Federal Reserve System.
    2. Discuss the general methods of financing business ventures and various sources of financing
    3. Develop, evaluate, and modify a spending/savings plan.
    4. Describe the purpose of budgets and identify the steps in preparing a good budget
    5. Demonstrate proper procedures for managing a checking account (e.g., writing checks, balancing check register, making deposits, electronic funds transfers, and debit cards).
    6. Compare services provided by banks, credit unions, and other financial institutions
    7. Define the difference between fixed expenses and variable expenses
    8. Prepare and interpret financial statements such as a balance sheet and an income and expenditure record.
    9. Evaluate savings and investment options (e.g., stocks, bonds, mutual funds, real estate, etc.) to meet short- and long-term goals.
    10. Describe source of securities information.
    11. Compare and contrast various sources of credit
    12. Explain the advantages and disadvantages of using credit.
    13. Compute simple interest loans
    14. Explain how a good credit record can be established and maintained
    Rights and Responsibilities of Employees, Managers, Owners, and Government
    1. Identify ways for businesses to demonstrate their social responsibility
    2. Identify ways to improve employee morale and customer satisfaction
    3. Discuss procedures and consequences when on-the-job rules and laws are not followed.
    4. Identify basic principles of organized labor and describe its influence on government and business.
    5. Explain the impact of equal employment opportunity and affirmative action on business
    6. Recognize bias, vested interest, stereotyping, and the manipulation and misuse of information
    7. Determine the relationship between government and business to ascertain government’s role in a market economy
    8. Analyze impact of government regulation and rights on business.
    Career Awareness
    1. Identify personal qualities and characters and match to business careers.
    2. Identify factors affecting the future of the workforce.
    3. Identify sources of information about careers and job leads
    4. Write a letter of application.
    5. Prepare a resume or personal data sheet
    6. Demonstrate how to properly fill out a job application form.
    7. Implement job-interview strategies
    1. Identify reasons for buying personal and business insurance.
    2. Distinguish among the various types of insurance (e.g., home, life, medical automobile, liability, disability, etc.).
    3. Compare basic types of insurance policies to determine appropriate use.
    4. Implement safety, health, and environmental controls to minimize loss and risk
    Economic Systems
    1. Define key economic terms
    2. Analyze the role of supply and demand in the economy.
    3. Identify major components of the free enterprise system.
    4. Explain the economic role played by business in satisfying customer needs and wants in a free enterprise system
    5. Recognize effects of competition on businesses, consumers, and society
    6. Explain characteristics, including strengths and weaknesses of various types of economic systems (e.g., traditional, communist, socialist, etc.).
    7. Identify factors affecting business profit.
    8. Explain the importance of productivity and how finances, labor, and technology affect productivity
    9. Identify economic trends/indicators to measure economic conditions.
    10. Examine current events (regional, national, and international) to determine their impact on business.
    11. Analyze the economic impact of e-commerce.
    1. Identify current and emerging ethical issues in the global business environment and the consequences of unethical business dealings.
    2. Exhibit legal and ethical behaviors when using information and technology and discuss consequences of misuse
    3. Apply a professional code of ethics to a workplace problem or issue.
    4. Apply ethics and government regulations to protect the business.
    5. Explain the relationship of business ethics to product/service management.
    6. Examine the role of ethics and social responsibility on decision making
    Global (International) Business
    1. Explain the difference between foreign trade and domestic trade
    2. Describe some of the ways in which social, cultural, economic, legal, and political differences among nations affect international business
    3. Discuss how current world events impact international business.
    4. Recognize the impact of international trade on business.
    5. Demonstrate an understanding of global competition
    6. Describe how tariffs, quotas, and embargoes affect world trade.


    NBEA Standards
    • Career Development
    • Communication
    • Economics & Personal Finance
    • Entrepreneurship
    • Management
    • Marketing
    Career Clusters
    • Business Management & Administration
    • Finance
    • Marketing, Sales, & Service