Introduction to Financial Math

Category: Objective Test
Type: Individual


60-minute test administered during the NLC.

Objective Test Competencies: Basic Math Concepts; Consumer Credit; Data Analysis and Probability; Decimals; Discounts; Fractions; Percentages

Skills: The ability to solve common financial and business mathematical problems is a basic skill required by all prospective business employees. This event provides recognition for FBLA members who have an understanding of basic math functions needed in finance and business.


Objective Test

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.

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.


  • Dues: Competitors must have paid FBLA national and state dues by 11:59 p.m. Eastern Time on April 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.
  • All members of a team must consist of individuals from the same chapter.

Repeat Competitors

Competitors are not permitted to compete in an event more than once at the national level 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 (report PDFs, resume/letter of application PDFs, and project URLs) must be received by 11:59 p.m. Eastern Time on the second Friday in May.
  • All URLs and PDFs for prejudged projects and reports will be submitted by the state adviser via the competitive events registration form.
  • 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.


General Competitive Events Tips
Event Tips
Sample Practice Materials

Format Guide

Website Resources
Basic Math Concepts
1. Develop fluency in addition, subtraction, multiplication, and division of basic operations with and without calculators.
2. Solve one- and two-step problems involving whole numbers, fractions, and decimals using addition, subtraction, multiplication, and division.
3. Solve practical computation problems for business such as calculating wages after taxes, developing a budget, and balancing a checkbook.
4. Analyze problem statements for missing/irrelevant data; estimate/exact values, and inconsistent parameters
5. Identify business math terms.
6. Prove that results of computations using whole numbers, fractions, decimals, percents, and proportions are correct
7. Recognize patterns and relationships among numbers
8. Estimate the results of rational number computations and judge the reasonableness of the results.
9. Identify and use relationships between operations, such as division as the inverse of multiplication to solve problems
10. Apply relational (equal, greater than, less than, etc.) and logical operations in a logical expression.
11. Select appropriate methods and tools for computing with whole numbers from mental computation, estimation, calculators, and paper and pencil
12. Convert within and between measurement systems (metric and customary) and monetary systems using technology where appropriate.
13. Estimate conversions between the customary and metric systems.
14. Use the appropriate type of unit to calculate measurement of length, area, weight, volume, angles, and perimeter
15. Construct or draw figures with given perimeters and areas.
16. Interpret scale drawings and models using maps and blueprints.
17. Use touch method on calculator to solve math problems that relate to business and industry.
Consumer Credit
1. Define credit and credit terms
2. Identify the costs and benefits of various types of credit.
3. Calculate sales tax.
4. Compute total purchase price with interest added.
5. Compute the costs involved in owning and buying an item such as an automobile.
6. Compute finance charges for single payment loans.
7. Compare installment and revolving credit costs.
8. Calculate installment loan costs such as amount financed, the installment price, finance charge, and installment payment.
9. Find the estimated annual percentage rate (APR) using a table.
10. Find the finance charge and new balance using the average daily balance method
Data Analysis and Probability
1. Using a data set, determine mean, median, and mode.
2. Determine the type of average that best represents the measure of central tendency
3. Distinguish between a simple average and a weighted average and calculate each.
4. Identify and construct various types of graphs and charts
5. Compile and arrange facts in an organized manner for a table, chart, or figure
6. Explain or prepare written summary of findings expressed in tables, charts, graphs, and figures.
7. Make predictions and decisions based on data and communicate their reasoning.
1. Round decimals to the nearest tenth and nearest hundredth.
2. Add, subtract, multiply, and divide decimals.
3. Convert a decimal to a fraction.
4. Convert a fraction to a decimal
5. Read and write decimals using the place-value structure of the base-ten number system
6. Solve business problems with currency.
1. Identify the various types of discounts
2. Calculate the percentage of a discount of an item
3. Calculate a chain discount and net selling price.
4. Calculate trade discounts and net selling price
5. Calculate cash discounts and net selling price
1. Add, subtract, divide, and multiply fractions and mixed numbers with like (common) and unlike denominators.
2. Work flexibly with fractions to solve application problems
3. Convert fractions to decimals, decimals to fractions, and use properties of basic operations to simplify fractional arithmetic expressions.
4. Convert an improper fraction to a whole or mixed number.
5. Convert a whole or mixed number to an improper fraction.
6. Reduce a fraction to lowest terms and raise a fraction to higher terms.
7. Apply appropriate methods for computing with fractions from among mental computation, estimation, calculators, or computers and paper and pencil.
1. Define the terms base, rate, and percentage and identify them in word problems.
2. Solve for base, rate, or part in a percent problem
3. Convert a whole number, fraction, or decimal to a percent.
4. Convert a percent to a whole number, fraction, or decimal.
5. Use the percentage formula to find the unknown value when two values are known.
6. Find the rate or the base in the increase or decrease of an item.
7. Calculate markup and markdown of original value of item.
8. Calculate simple interest


NBEA Standards
  • Computation
Career Clusters
  • Business Management & Administration
  • Finance


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 April 1.


Test: 1 hour