How to start a business test 3 review 2

Which of these government loan programs to banks participate in?

Small business Investment companies are licensed by:

Although banks may charge ___% per sale, it increases your business capability to service the customer and increase sales volume

Merchant Card Service Companies will be more or less expensive?

Possible hidden fees to be aware of are:

Merchant account application fee:
Setup fee:

Internet card and processing Software with Web Terminal fee

Checks by web, phone, and fax
Allows you to accept checks via the Internet, phone, or fax
Build a web shopping cart

These all cost around:

Programming charge:
Shipping and handling:
American Express setup fee:

Average approval time for merchant card services:

True/False: Know your customer and their credit card preferences

All credit card companies do or do not typically charge the same?
________ Typically has a higher fee than ________

Usually each transaction fee has a percent of sale and a

Also, the same card company may have different transaction rates for different _____ of cards (Generally reward cards have a higher fee)

You should try not to accept _________ for small purchases

The need for Insurance today has been heightened today with the predisposition toward lawsuits and the ever increasing potential for tragic events increasing the __________ for business owners

Employee benefits may be _______ for small business owners

Agreements to protect the family or other beneficiaries

T/F: Every business is different (varying types of liabilities) and has different needs

Speak with your present _______

Be specific in explaining your type of _____ you have and identify specific ________ (insurance) before meeting with your agent or shopping other insurance companies

Compare prices for the same

Generally cost less than individual types of coverage for property, liability, criminal coverage and special need business coverage

Two general categories of Business Insurance:

For claims brought against your business for injury to a customer or other person on business property

Damage to property you lease or rent or a customer’s property

Protects premises, fixed assets and inventory

Earthquake, Flood, Hurricane-Disaster premiums are

Protection against employee dishonesty

Monetary protection against a contractor failing to perform specific work within an agreed period of time

Protection against critical business equipment (computers, telephone, operational)

Claims against your product (after it happens at your place of business) even if used incorrectly. Premiums based on volumes of sale and degree of hazard

Coverage for employees injured, disabled, or becomes ill due to required work

Payment approximately equal to earnings while building is under repair or rebuilding.

Extra coverage, 1 million dollars, for an accident that can cause a catastrophe

Life Insurance is used for:

Be careful attempting to classify employees as __________ to avoid benefits or overtime pay

To be classified as a contractor, a person must: