25. Which of the following might be considered a violation of employees’ privacy in the workplace? A. use of computer passwords B. use of time clocks C. use of security guards D. use of video cameras The Answer is D. use of video cameras Some businesses use videos cameras to monitor customers and prevent shoplifting. If these cameras are focused on employees, it might be considered a violation of the employees’ privacy. The should tell the employees so they know that actions are being recorded and monitored. They are also obligated not to use cameras in areas designed specifically for employees, such as break rooms. The use of time clocks is a method of recording time on the job rather than a violation of privacy. The use of security guards is a safety factor that benefits employees and customers. The use of computer passwords provides employees with a certain amount of privacy by allowing them to protect their computer systems from unauthorized access. 26. Which of the following would help Erica to effectively communicate her self-confidence during a job interview? A. speaking in a very low tone of voice B. wearing casual clothes to the interview C. listening to the interviewer without interrupting D. making appropriate eye contact with the interviewer The answer is D. making appropriate eye contact with the interviewer People who are self-confident are not afraid to look others in the eye. They also speak in a moderate tone of voice that can easily be heard without being loud. Speaking in a very low tone is more likely to indicate timidity than selfconfidence. Listening without interrupting demonstrates courtesy and good manners. Wearing casual clothes to a job interview indicates poor judgment rather than selfconfidence. #27 When a group reaches consensus, it means that all of the members agree but they usually A. B. C. D. Do not have equal power Follow the leader Do not vote Accept majority rule The answer is C A. B. C. D. Do not have equal power Follow the leader Do not vote Accept majority rule Consensus building is a groups process of hearing each other out and coming to agreement. No voting means no winners/losers. Everyone wins because the group comes to an agreement. #28 – Which of the following is the best way to approach a coworker who has a vision impairment. A. Touch the person to make him/her aware of your presence B. Tap the person with a paper or other object C. Make a small amount of noise as you come near D. Say something in a loud voice when you reach the person. The answer is C A. Touch the person to make him/her aware of your presence B. Tap the person with a paper or other object C. Make a small amount of noise as you come near D. Say something in a loud voice when you reach the person. Let them know you are approaching so you don’t startle them. Coughing, clearing your throat, or making noise with your feet are ok ways to announce your presence. Being loud or touching could startle them. 29. Juan Rodrigues signed a promissory note for a loan. In this credit arrangement, Juan is the? • • • • A) Lender. B) Creditor C) Borrower D) depositor The answer is C • Borrower because the person who signs a promissory note is called a borrower. 30. When an item is purchased, money is exchanged for the right to? • • • • A) File a claim B) Use credit C) Own the item D) Pay for the item The answer is C • Own the item. When an item is purchased, money is exchanged for the right to own the item. Auston Bodine Question 31 When preparing a personal income tax form, parents report some of their childcare expenses to receive ________. A) Capital gains B) Tax deductions C) Dividends D) Tax rebates Question 31 When preparing a personal income tax form, parents report some of their childcare expenses to receive ________. B) Tax deductions Tax deducti0ns is the correct answer because parents spend a portion of their pay on childcare expenses and the government gives a certain amount of money back to help with those expenses. Question 32 Which of the following is a way that businesses can use financial information: A) To create an economic system. B) To select all selling strategies. C) To conduct focus groups. D) To identify trends. Question 32 Which of the following is a way that businesses can use financial information: D) To identify trends. The correct answer is to identify trends because Businesses have the ability to see what items are selling well. This allows them to figure out customers buying behavior so they know what to manufacture and sell. NUMBERS 33 & 34 BY: BRANDON BOYLE NUMBER 33 • Jamie is an accountant at a furniture store. As soon as customers pay cash for their purchases, he records the sales in the accounting books but not if they charge their purchases. What type of purchasing is this? A. Systematic C. Accrual B. Cash D. Automatic REASONING • Cash accounting- income and amount is recorded at the time that the cash is exchanged • Accrual accounting- recording of transactions at the time it happens, even if no money exchanges hands at that time • Systematic and automatic are not forms of accounting NUMBER 34 • What is a business’s gross profit if its profit-and-loss (income) statement lists $875,250 in revenue, $341,500 in cost of goods sold, $263,000 in operating expenses, and $46,500 A. $612,250 C. $270,750 B. $487,250 D. $533,750 REASONING • Gross profit means that you take away the cost you paid for the goods from your yearly revenue • The other costs don’t matter in your gross profit #35 Businesses use budgets to estimate how they will A. B. C. D. File their taxes Spend their money Calculate their assets Depreciate their assets The right answer is B! spend their money A budget estimates how a business will earn and spend money Businesses use budget to estimate how they spend money earned as income Has expanses and budgets to help businesses plan how to allocate income to pay expenses Doesn’t use budget to calculate assets file taxes or depreciated them #36 A commission or bonus is an example of form of…. A. B. C. D. Benefit Assistance program Compensation Employee contact The Answer is C…Compensation commission or bonus is examples of compensation Pay for work complete Financial incentives A)what products to offer B)How much to spend C)How much of the product to create D)When to offer a discount on the product When to offer a discount Which of the following would be the marketing information most likely to be gathered and analyzed by a marketing-information management system: A)Historical data C)consumer trends B)Unchanging events D)employee absences Customer trends. A marketing-management system can help businesses to discover new or expanded markets and to use them. A. B. C. D. Digital presentation software Interpersonal fax machines Mechanical database networks Automated computer systems A. Digital presentation software B. Interpersonal fax machines C. Mechanical database networks D. Automated computer systems Technological advancements, such as computerized phone number selection systems, have made it possible for businesses to solicity survey responses quicker. Interpersonal fax machines and mechanical database networks are not terms commonly used to describe marketing-information research. A. B. C. D. Primary Secondary Complementary Statistical A. Primary B. Secondary C. Complementary D. Statistical Primary data are facts that a business collects for a specific purpose. The data is used to solve problems or make decisions about product development of customer service. Secondary data are facts collected for another purpose than the issue at hand. Complementary is not a type of market research data Which of the following questions would be answered through a situation analysis: A. Why is our business’s market share dropping? B. How can we reach our target market more effectively? C. Which new product has more potential? D. What do we already know about this problem or opportunity? D What do we already know about this problem or opportunity? This is a question that would be answered through a situation analysis, exploratory research into the problem at hand as well as the total business environment. The other questions are specific decision problems that a situation analysis would be conducted to address more thoroughly. What do businesses create to help answer the research problem? A. Objectives B. Strategies C. Procedures D. Activities A Objectives There is a strong relationship between the research purpose and the research objectives which are the goals of the research. Business create research objectives to help answer the research problem. For example, if the problem is service, one objective might be to determine customer satisfaction with delivery. Strategies are plans of action or activities for achieving goals and objectives. A procedure is the step-by-step process personnel follow in preforming a specific task. 43. What type of rating scale involves asking respondents to select one of a limited number of options listed on a questionnaire? A. Paired comparison B. Constant-sum C. Percentage D. Itemized The Answer…… D. Itemized Qwhy you may ask well.. Businesses give questionnaires to get relevant info on marketing. These questionnaires are made for respondents to select few options. 44. Which of the following is demographic information that businesses might monitor when making marketing decisions: A. Traits B. Opinions C. Income D. Values The Answer… C. Income Qwhy you may wonder well.. Demographics refer to the physical and social characteristics of the population. Opinions, Traits, and Values are considered physiological Marketing Questions Kole Hunter • 45) Orson, a researcher, is asking a customer a series of questions during a schedule meeting. Orson is using method to collect marketing data. • A) contact • B) relational • C) observation • D) interview Question 45 • D) interview • Businesses like using interviews because it is the way to get information and it is easy to do. Answer • 46) When processing survey results, a marketing researcher may decide to discard the questionnaires that contain errors if the number of • A) Unsatisfactory responses is more than 25 percent. • B) Satisfactory responses is low. • C) Satisfactory responses is more than 40 percent. • D) Unsatisfactory responses is low. Question 46 • D) Unsatisfactory responses is low. • Before a marketing researcher can analyze survey results, the raw data must be converted into a usable format. This way is easier for them. Answer Sinjin Kirkpatrick Question #47 What is the mean in the following statistical table: Numeric Value of Response Number of Responses 6 6 5 10 4 15 3 12 2 7 1 4 A. 3.3 B. 3.7 C. 3.5 D. 3.1 Question #47 What is the mean in the following statistical table: Numeric Value of Response Number of Responses 6 6 5 10 4 15 3 12 2 7 1 4 A. 3.3 B. 3.7 C. 3.5 D. 3.1 Mean is the average of the numbers so first you would multiply the “Numeric Value” by the “Number of Responses” and then add the products together and divide by 54 (total number of responses). Question #48 A. Angela developed a written survey containing Which of the following situations is an example of a response error: open-ended questions. B. Jenny coded a survey respondent’s answer with the number two instead of the number three. C. Ben found that the sample group was not representative of the target market. D. Tim did not answer the last two questions on a written survey. Question #48 A. Angela developed a written survey containing Which of the following situations is an example of a response error: open-ended questions. B. Jenny coded a survey respondent’s answer with the number two instead of the number three. Response errors occur when respondents do not correctly answer or complete a survey. C. Ben found that the sample group was not representative of the target market. D. Tim did not answer the last two questions on a written survey. Sara Manganaro Which of the following research methods is an appropriate way to gather marketing information when quick responsiveness and low costs are important issues: A. Test marketing B. Internet survey C. Face-to-face interviews D. Field experiment Marketing-research method that involves asking customers questions to learn their opinions & the reasons behind those opinions ◦ Example- a business might obtain marketing information from its customers because it wants to determine their levels of satisfaction during their last encounters with the business. In an overall sense, where does marketing occur? A. Wherever advertisements are B. Wherever customers are C. Wherever trucks are D. Wherever stores are Overall- marketing occurs wherever customers are. Advertisements, stores, & trucks are a major factor, but marketing mainly occurs where customers live, work, study, recreate, ect. Preparing for the test Questions fiftyoneBy& Desiree fifty two Porter Question fiftyone Rick is a salesperson for a company whose product is used to make other goods. What type of market should he target? A. Economic B. Consumer C. Industrial D. Production Solution to fifty-one Rick is a salesperson for a company whose product is used to make other goods. What type of market should he target? A. Economic An industrial market is a B. Consumer customer or potential customer who purchases C. Industrial items for use in the operation D. Production of a business, for resale, or for making other goods. Question fiftytwo Which element of the marketing plan reveals the possible problems a product might encounter in the marketplace: A. Budget allocation B. Objectives and issues summary C. Threats and opportunities analysis D. Action program Solution to fifty-two Which element of the marketing plan reveals the possible problems a product might encounter in the marketplace: A. Budget allocation B. Objectives and issues summary C. Threats and opportunities analysis D. Action program A threats and opportunities analysis is the element of the marketing plan that provides information regarding the positive and negative factors that can affect the business’ marketing strategies. 53. What might a business decide to do if the information in its sales forecast predicts a drop in demand for the business's product? A. B. C. D. Recruit 50 new employees Decrease advertising budget Increase production Reduce prices by 4% The answer is D • The answer is d because businesses use the information in sales forecasts to make decisions that will contribute to their success. One of these decisions involves price. If a sales forecast predicts a drop in demand for a product, they will reduce the price to try and generate more sales. 54. A risk involved with information management is leaving customers unprotected from A. Identity theft B. Bad customer service C. High prices D. Faulty products The answer is A • An information management program that does not use technology properly may put customers’ personal information at risk. #55:The scope of the internet can be described as? A: regional B: secure C: worldwide D: proprietary The answer is C, worldwide. The Internet is a worldwide network of computers that enables users to access information and communicate with others. #56:If Joe wants to respond to an Email message that he received from Natalie, he should first click on the __________ key A: send B: forward C: reply D: import The answer is C, reply. The reply key allows the E-mail recipient to write a response to the sender’s message. #57 – One way that businesses use the “sort” capability of database software programs is to identify targeted customers and print A. Budget reports B. Mailing labels C. Sales catalogs D. Internal memos The answer is B A. Budget reports B. Mailing labels C. Sales catalogs D. Internal memos Database software programs can sort customer lists based on a variety of criteria such as zip code, name, type of business, etc. Mailing labels is really the only one that would use such data. #58 – Some business records need to be maintained in secure locations because they contain ______ information. A. Confidential B. Historical C. Published D. Regulatory The answer is A A. Confidential B. Historical C. Published D. Regulatory Some business records need to be maintained in a secure location because they contain confidential information. Historical information is often published and made available to the public. Regulatory information is usually provided by the government. Question #59 Which of the following is an example of how a business or industry has a unique relationship with its environment? A. New technology causes new laws to be enacted. B. An economy in prosperity will eventually experience recession. C. Social and cultural attitudes change over time. D. Demand for skilled nursing care rises as population ages D. Demand for skilled nursing care rises as population ages. The impact on a specific industry shows that business have unique relationships with their environments. The aging of the population affects other industries. Question #60 What should an employee do when he/she accidentally spills coffee in the tile hallway? A. Wipe it up immediately. B. Wait for the floor to dry. C. Tell others about the spill D. Leave it for the cleaning crew. A. Wipe it up immediately Spills may make the floor slippery and create a safety hazard. Others may not notice it and fall on wet surface. All employees are responsible for helping to maintain a safe environment. Marketing Exam QUESTION 61 & 62 When managing a project, the first activity is for the project leader to… QUESTION 61 A) DEVELOP A SCHEDULES B)SET GOALS SSSSSSSSS C)NEGOTIATE TERMS SSSSSSSSSSSSSSS D)MONITOR PROGRESS SSSSSSSSSS Answer B SET GOALS. IT IS IMPORTANT TO DEVELOP A CLEAR UNDERSTANDING OF THE PROJECT’S OR GOAL Question 62 Which of the following is an important purchasing activity in a business… A) Selecting vendors B) Setting prices C) Developing Financial statements D) Managing employee benefit Answer A Selecting vendors. Purchasing is the planning procedures necessary to obtain good and services for the use in the business or for resale. A. B. C. D. risk levels of doing business with the vendor. reliability of the products that the vendor carries. vendor’s levels of customer service. vendor’s required lead times. A. risk levels of doing business with the vendor. Why? If a vendor isn’t financially stable, there is a risk that the vendor may not have the resources to meet the business’s needs. Also, if the vendor’s financial condition is extremely poor, the vendor could go out of business. A lack of financial resources may affect the vendor’s products, its level of customer service, and its lead times. A. B. C. D. Taking the initiative to find work. Making personal use of company property. Reporting incidents of shoplifting. Giving appropriate discounts to customers. B. Making personal use of company property. Why? Employees can help reduce expenses by respecting company property. Employees can do this by not taking anything belonging to the business for their personal use. This can range from not making personal use of company vehicles to not taking home pens or pencils. Businesses have to replace the company property employees take, which results in additional expenses for the business. Question 65 Businesses that properly maintain their facilities are taking steps to reduce the possibility of…. A. subsides. B. accidents. C. robberies. D. takeovers. The answer is… B Accidents. An accident is an unexpected happening that may result in injury, loss, or damage. Business reduce the possibility of accidents occurring by properly maintaining their facilities. Proper maintenance helps to eliminate hazards such as torn carpeting, damaged floors, broken stairs, and protruding counters. Accidents may occur at any time, but businesses can reduce the risk by properly maintaining their physical facilities. A robbery is a theft that involves the use of force, violence, or fear. A subsidy is government financial help given to a business. A takeover is an attempt by one business to buy out, or take over, another business. Question 66 Julianne is going to a chamber-of-commerce luncheon where she will meet several important business leaders in her community. What is the most appropriate clothing for Julianne to wear? A. Black, sequin dress; short jacket; and high-heel shoes B. Colorful blouse, short skirt, and sandals C. Casual pants, long-sleeve t-shirt, and athletic shoes D. Dark pantsuit, blouse, and low-heel shoes The answer is… D Dark pantsuit, blouse, and low-heel shoes. Because a chamber-of-commerce luncheon is a business function, Julianne should wear conservative business apparel. A dark pantsuit, blouse, and low-heel shoes (e.g., pumps) are a appropriate clothing choices for business functions. Short skirts, bold or colorful blouses, sandals, casual pants, tshirts, and athletic shoes are too casual for the event. A black, sequin dress; short jacket; and high0heel shoes are appropriate clothing options for formal evening events. 67. Setting a time limit for achieving a goal is a technique that _________. A. Helps to achieve the goal B. Reminds you of your goal C. Is not usually recommended D. Hinders progress toward the goal The answer is A Setting a time limit seems to keep most people working toward a goal. It is, therefore, a recommended technique. Business employees dealing with conflict demonstrate effective problem-solving skills by remaining____________. A. Judgmental B. Objective C. Emotional D. Aggressive The answer is B An employee who is objective tries to view conflict in an unbiased manner and is not influenced by the opinions of others.