Periods during which a business, an industry or the entire economy ... make the difference between success and failure when the cycle turns the other way. Also think twice before adding expenses ...

An economic cycle, also known as a business cycle, refers to economic fluctuations between periods of expansion and contraction. Factors such as gross domestic product (GDP), interest rates ...

But what does the test actually involve? Business Insider got hold of a recent practice test from the CFA Institute - the body which administers the exam - to see just how difficult it really is.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years ... and large grouping of business errors, which some economists call “malinvestments.” Faced with financial loss and declining ...