Agribusiness

Category: Objective Test
Type: Individual

Overview

60-minute test administered during the NLC.

Objective Test Competencies: Economics; Finance and Accounting; Health, Safety, and Environmental Management; Management Analysis and Decision Making; Marketing; Terminology and Trends


Guidelines

Objective Test Guidelines
Objective Test Guidelines
  • No materials may be brought to the testing site.
  • Electronic devices must be turned off and out of sight.
  • No calculators may be brought into the testing site; calculators will be provided.
  • Bring a writing instrument.
General Guidelines

The general event guidelines below are applicable to all national competitive events. Please review and follow these guidelines when competing at the national level. When competing at the state level, check the state guidelines since they may differ.

Eligibility

  • Dues: Competitors must have paid FBLA national and state dues by 11:59 p.m. Eastern Time on March 1 of the current school year.
  • NLC Registration: Participants must be registered for the NLC and pay the national conference registration fee in order to participate in competitive events.
  • Deadlines: The state chair, or designee, must register each state competitor on the official online entry forms by 11:59 p.m. Eastern Time on the second Friday in May.
  • Each state may submit four (4) entries in all events except LifeSmarts, Virtual Business Finance Challenge, and Virtual Business Management Challenge.
  • Each competitor can only compete in one (1) individual/ team event and one (1) chapter event.
  • Each competitor must compete in all parts of an event for award eligibility.
  • A team shall consist of two or three members. Exceptions are Parliamentary Procedure which must be a team of four or five members, and LifeSmarts which must be a team of two members.

Repeat Competitors

Competitors are not permitted to compete in an event more than once at the NLC unless one of the following circumstances applies:

  • Modified Events: A competitor may compete in the same event when the event is modified. Note, if the only modification is a name change, competitors may not compete in the renamed event.
  • Team Events: One (1) competitor of the team may have competed in the same event at one (1) previous NLC; however, they may not compete more than twice in the event at the national level.
  • Chapter Events: Competitors may compete in a chapter event more than once (American Enterprise Project, Community Service Project, and Partnership with Business Project).
  • Individual Entry: A competitor who competed as an individual entry in a team event at the national level may compete in the same event a second time as part of a team, but not a second time as an individual.
  • Parliamentary Procedure: Two (2) competitors of the team may have competed in this event at a previous NLC; however, they may not compete more than twice at the national level.
  • Pilot Event: Competition in a pilot event does not disqualify a competitor from competing in the same event if it becomes an official competitive event. The participant may compete in another event as well as a pilot event.

Breaking Ties

  • Objective Tests: Ties are broken by comparing the correct number of answers to the last 10 questions on the exam. If a tie remains, the competitor who completed the test in a shorter amount of time will place higher. If this does not break the tie, answers to the last 20 questions will be reviewed and determine the winner.
  • Objective and Production Tests: The production test scores will be used to break a tie.
  • Objective Tests and Performances: The objective test score will be used to break a tie based on the tie-breaking criteria of objective tests.
  • Reports/Projects and Performances: The report/project scores will be used to break a tie.
  • Performances: Judges must break ties and all judges’ decisions are final.

National Deadlines

  • State chair/adviser must register all competitors for NLC competitive events online by 11:59 p.m. Eastern Time on the second Friday in May.
  • All prejudged components (reports, websites, projects, statement of assurance) must be received by 11:59 p.m. Eastern Time on the second Friday in May.
  • All prejudged projects and reports must be submitted electronically.
  • All Statements of Assurance must be submitted online.
  • All production tests must be received at FBLA-PBL by 11:59 p.m. Eastern Time on the third Friday in May.
  • All production tests must be uploaded online.
  • State chair/adviser may make name changes only (no additional entries) by 11:59 p.m. Eastern Time on the first Friday in June. Competitor drops are the only changes allowed after this date and onsite.

National Awards

The number of competitors will determine the number of winners. The maximum number of winners for each competitive event is 10. Only one (1) award is given to the schools competing in chapter events (American Enterprise Project, Community Service Project, Local Chapter Annual Business Report, and Partnership with Business Project).

Additional Materials

Certain events may allow the use of additional materials. Please refer to event guidelines.

Americans with Disabilities Act (ADA)

FBLA‑PBL meets the criteria specified in the Americans with Disabilities Act for all participants who submit a special needs form.

Recording of Presentations

No unauthorized audio or video recording devices will be allowed in any competitive event. Participants in the performance events should be aware the national association reserves the right to record any performance for use in study or training materials.


Preparation

Sample Practice Materials

Format Guide

Competencies
Competency
Tasks
Economics
1. Utilize economic principles to establish and manage an Agriculture, Food, and Nature Resource (AFNR) enterprise.
2. Describe the role of global supply and demand on AFNR.
3. State the economic output of AFNR-related industries in the United States.
4. Evaluate the impact of AFNR activities in your local community
5. Apply economic principles to marketing.
6. Differentiate types of ownership and outline the structure of AFNR businesses in a capitalistic economic system.
7. Classify the characteristics of successful entrepreneurs in AFNR businesses.
Finance and Accounting
1. Manage cash budgets, credit budgets, and credit for an AFNR business using generally accepted accounting principles.
2. Budget resources (e.g., capital, human, financial, time).
3. Manage assets for optimum utilization.
4. Manage risk of liabilities.
5. Prepare and interpret financial statements (e.g., balance sheet, profit/loss statement, cash flow statement).
6. Prepare tax forms (e.g., W-4, I9, Depreciation, 1099, Workers Compensation).
7. Determine cost of doing business
8. Compare and examine advantages and disadvantages of banking procedures (e.g., bank reconciliation).
9. Analyze investment options (e.g., buy, lease, finance, risk).
10. Calculate costs of carrying inventory.
11. Use record keeping to accomplish AFNR business objectives, manage budgets, and comply with laws and regulations.
12. Describe how to manage inventory and determine selling price
13. Explain the importance of return on investment for an agribusiness enterprise
Health, Safety, and Environmental Management
1. Use tools, equipment, machinery, and technology appropriate to work within areas related to AFNR.
2. Define what level of possible contamination or injury is considered a risk in order to set safety priorities
3. Identify insurance needs used in agricultural business, including: property, health, life, crop and liability, (personal and environmental).
4. Develop response plans to handle emergencies.
5. Identify hazards and acquire first aid skills to promote environmental safety.
6. Examine required regulations to maintain/improve safety, health, and environmental management systems and sustainable business practices.
7. Enact procedures that demonstrate the importance of safety, health, and environmental responsibilities in the workplace.
8. Demonstrate methods to correct common hazards.
9. Demonstrate application of personal and group health and safety practices.
Management Analysis and Decision Making
1. Identify and compare the four types of agricultural business organizations: sole proprietorship, partnership, cooperative, and corporation.
2. Explain the environmental considerations of decision making in AFNR management.
3. Predict the positive and negative impacts of AFNR activities.
4. Analyze the strengths, weaknesses, opportunities, and threats to an AFNR enterprise or business unit.
5. Develop an operation and/or production plan to provide required levels of product or service.
6. Develop business goals and strategies that capitalize on opportunities in an AFNR market.
7. Identify and observe ethical standards in planning and operating AFNR businesses.
Marketing
1. Use industry-accepted marketing principles to accomplish AFNR business objectives.
2. Communicate the importance of AFNR to general public.
3. Evaluate alternative marketing strategies, such as value-adding, branding, and niche marketing, and propose and implement appropriate modifications to achieve AFNR business goals.
4. Perform a marketing analysis, including evaluation of the competitors, customers, international and domestic policy environment, regulations and rules, standards and AFNR business resources.
5. Develop and implement marketing strategies with agricultural commodities, products, and services.
Terminology and Trends
1. Examine economic, social, and technological changes to spotlight their impact on AFNR organizations and the industry.
2. Analyze the interaction among ANFR systems in the production, processing, and management of food, fiber, fuel, and sustainable use of natural resources.
3. Explain foundational cycles and systems of AFNR (plant and animal life cycles, nutrient and water cycles, and animal production).
4. Explain how changes in one system in AFNR can benefit and cost components of other systems (e.g., using less irrigation water and the impact on soil systems, economic systems, and watersheds).
5. Explain how regulations and major laws impact management of AFNR activities.
6. Describe current issues impacting AFNR activities.
7. Explain the impact of sustainability on AFNR activities and practices.
8. Envision emerging technology and globalization to project its influence on widespread markets.

Alignment

NBEA Standards
  • Accounting
  • Economics & Pers. Finance
  • Entrepreneurship
  • Management
  • Marketing
Career Clusters
  • Agriculture
  • Business Management & Administration
  • Marketing, Sales, & Service

Eligibility

States may submit up to 4 entries.
Competitors must be registered for NLC and pay registration fee.
Competitors must pay dues by 11:59 p.m. Eastern on March 1.

Timeline

Test: 1 hour