Raise The Bar
1. “The product should be four inches long and weigh 14 ounces.” The preceding statement
illustrates
a. grades. c. warranties.
b. standards. d. testimonials.
b. standards.
1. A promise made by the seller to the customer that the seller will repair or replace a product that does not perform as expected is defined as a
a. market. c. guarantee.
b. warranty. d. strategy.
b. warranty.
6. How can salespeople use grades and standards?
a. To set product prices
6. How can salespeople use grades and standards?
a. To set product prices c. To meet customer needs
b. To advertise products d. To develop the product mix
b. To advertise products d. To develop the product mix
6. How can salespeople use grades and standards?
a. To set product prices c. To meet customer needs
b. To advertise products d. To develop the product mix
6. Sam’s new car came with a warranty that ended after 12,000 miles or one year. The warranty covered major parts. This is an example of a(n) __________ warranty.
a. full c. illegal
b. implied d. limited
d. limited
Raise-11. Which of the following is a source that businesses use to develop standards:
a. Lawyers c. Accountants
b. Suppliers d. Advertisers
b. Suppliers
*Double Jeopardy*
An octane rating of 87 is an example of a
a. grade. c. standard.
b. guarantee. d. warranty.
a. grade.
2. A customer buys a gaming system and receives a printed warranty card stating the actions the company will take if the system does not work properly. This is an example of a(n) __________ warranty.
a. express c. implied
b. full d. limited
a. express
7. The importance of grades and standards increases as international trade
a. decreases. c. fluctuates.
b. increases. d. remains unchanged.
b. increases.
*Double Jeopardy*
7. A promise made by the seller to the customer that the seller will refund the customer’s
purchase price if the product does not perform as expected is defined as a
a. guarantee. c. warranty.
b. recourse. d. full warranty.
a. guarantee.
*Triple Jeopardy*
Promise-11. Two characteristics of a good guarantee are that it should be
a. conditional and understandable. c. unconditional and understandable.
b. conditional and easy to implement. d. unconditional and difficult to collect.
c. unconditional and understandable.
3. Light bulbs are made to fit sockets across the U.S. This is an example of which of the following ways that standards are used:
a. To establish uniform, consistent products
b. To indicate where the product will be sold
c. To indicate how much the product will cost
d. To provide consumers with product information
a. To establish uniform, consistent products
*Triple Jeopardy*
3. Which of the following is an example of an express warranty:
a. A company sells kitchen blenders in packages that state how the blenders should
perform.
b. Television commercials advertise a kitchen blender with a “100% satisfaction guarantee.”
c. A salesperson states that if a kitchen blender breaks, the company will replace it.
d. A salesperson describes a blender’s superior construction and performance to a
customer.
c. A salesperson states that if a kitchen blender breaks, the company will replace it.
*Double Jeopardy*
8. Any business that transports goods across state lines must comply with standards set by
a. individual businesses. c. professional organizations.
b. government agencies. d. trade associations.
b. government agencies.
8. In its catalogs, a clothing manufacturer states: “If you are not completely satisfied with any item you buy from us, at any time during your use of it, return it and we will refund your full purchase price.” This is an example of a
a. warranty on goods. c. guarantee on goods.
b. guarantee on goods and service. d. warranty on service.
c. guarantee on goods.
Promises-. Which of the following is an accurate statement about the Magnuson-Moss Warranty Act’s regulation of warranties:
a. Implied warranties are not enforceable by law.
b. The law requires all products to have express warranties.
c. The law requires all products to have written warranties.
d. Implied warranties are enforceable by law.
d. Implied warranties are enforceable by law.
*Double Jeopardy*
4. Which of the following is a way that grades and standards can be used:
a. To develop product brands
b. To identify employee benefits
c. To determine how products can be used
d. To indicate which media will be used for promotion
c. To determine how products can be used
4. When customers buy televisions, they expect them to transmit pictures. This is an example of a(n) __________ warranty.
a. full c. express
b. implied d. limited
b. implied
*Triple Jeopardy*
9. Which of the following is usually responsible for grading goods:
a. Government agencies c. Consumer groups
b. Research organizations d. Sales representatives
a. Government agencies
9. “Your money back if not satisfied” is an example of a
a. warranty. c. recourse.
b. guarantee. d. strategy.
b. guarantee.
*Double Jeopardy*
19. What government agency is usually responsible for rating food products?
a. U.S. Department of Commerce c. Society of Automotive Engineers
19. What government agency is usually responsible for rating food products?
a. U.S. Department of Commerce c. Society of Automotive Engineers
b. U.S. Department of Agriculture d. Food and Drug Administration
d. Food and Drug Administration
19. What government agency is usually responsible for rating food products?
a. U.S. Department of Commerce c. Society of Automotive Engineers
b. U.S. Department of Agriculture d. Food and Drug Administration
5. How does the use of grades and standards affect the buying and selling process?
a. It enables businesses to set high prices on their goods and services.
b. It provides product information on unsafe goods and services.
c. It enables customers to buy without having to inspect each product.
d. It enables salespeople to suggest products without determining customer needs.
a. It enables businesses to set high prices on their goods and services.
*Double Jeopardy*
5. A warranty that covers the entire product is known as a(n) __________ warranty.
a. express c. full
b. limited d. implied
c. full
10. Why do many professional organizations develop standards for their members to follow?
a. To create influence c. To promote group activities
b. To promote product safety d. To establish control
b. To promote product safety
10. Holiday Inn Express uses the slogan “No excuses, guaranteed” as a money-back promise to guests. This is an example of a
a. warranty on goods. c. warranty on service.
b. guarantee on goods and services. d. guarantee on service.
c. warranty on service.
Raise- 20. Which of the following is a reason that customers prefer to buy graded products:
a. Graded products usually cost less money.
b. Graded products are easier to find in stores.
c. Graded products meet specific quality standards.
d. Graded products taste better than ungraded products.
c. Graded products meet specific quality standards.