Management and Administration
Entrepreneurship
Finance
Hospitality and Tourism
Marketing
100

Burkhart Manufacturing is implementing a new, company-wide computer system. Nadine is in the process of identifying the skills that will be needed to manage the information and maintain the various software applications. What function of management is Nadine focusing on?

a. Training

b. Controlling

c. Planning

d. Staffing

d. Staffing

100

Small businesses are important to the economy because they

a. indicate future economic trends.

b. create employment opportunities.

c. have a large impact on the stock market.

d. generate large amounts of revenue.

b. create employment opportunities.

100

Investment banking, portfolio management, and accounting are all part of which of the following sectors of business:

a. Finance

b. Marketing

c. Entrepreneurship

d. Management

a. Finance

100

Hospitality businesses are developing strategies to accommodate niche markets. Skydivers are an example of a group in a growing segment called the __________ market.

a. adventure

b. environmental

c. agritourism

d. Geotourism

a. adventure

100

Which of the following is an example of a pull sales promotion strategy:

a. A sales incentive program

b. A slotting allowance

c. A booth at a trade show

d. A buy one, get one free deal

d. A buy one, get one free deal

200

Even though Joseph has worked as an accountant for 20 years, he recently enrolled in a community college course to help him master the new software his department is using. He knows that if he doesn't keep up with current technologies, he could be replaced by a younger worker. This is an example of the importance of __________ in the workplace.

a. frequent training

b. ongoing education

c. mentorship programs

d. student loan forgiveness

b. ongoing education

200

A book publisher provides free copies of its newest releases to a handful of book reviewers in the hopes that they will spread the word about the books to their followers. This is an example of __________ marketing.

a. mass

b. viral

c. grassroots

d. scarcity

c. grassroots

200

Which of the following is an example of a policy that's influenced by environmental law:

a. Medicine must be approved to be marketed to the public.

b. In many places, seatbelts are required by the government.

c. Drinking water must meet state, provincial, and federal quality standards.

d. Drivers must obey posted speed limits.

c. Drinking water must meet state, provincial, and federal quality standards.

200

Which of the following is one of the most important skills for a project manager to possess:

a. Strength

b. Leadership

c. Education

d. Integrity

b. Leadership

200

PetFast pet store is known for its low prices and great value. The store frequently advertises its weekly sales, during which customers can get bulk pet foods for discounted prices. This is an example of corporate

a. strategizing.

b. positioning.

c. price fixing.

d. Modeling.

b. positioning.

300

Before knowledge can be reused or shared, it must be

a. manipulated.

b. recognized.

c. embedded.

d. analyzed.

b. recognized.

300

Which of the following is an example of a safety procedure that a business might require its employees to follow:

a. Store supplies in the facility's offices, closets, and aisles.

b. Wear protective headgear when working in hazardous areas.

c. Place equipment in front of the business's emergency exits.

d. Review products to ensure quality standards are met.

b. Wear protective headgear when working in hazardous areas.

300

Which of the following issues is keeping risk managers from getting the right information into the right context so that the right decisions can be made:

a. Having a centralized enterprise risk management system

b. Having transparency around the effects of volatility on the organization

c. Having many different sources of data that can be used to assess risk

d. Having too little information that can be used to assess and understand risk

c. Having many different sources of data that can be used to assess risk

300

Sarah is speaking to a customer who is decisive, forceful, and in a hurry. Sarah should

a. get to the point of her communication quickly.

b. give the customer time to talk about themselves.

c. discuss detailed statistics and information.

d. take time to develop a relationship with the customer.

a. get to the point of her communication quickly.

300

If marketers do not have enough secondary data available to meet the company's needs, they must

a. conduct primary research.

b. find a new project.

c. create data.

d. wait until secondary data appear.

a. conduct primary research.

400

A company that wishes to lower its risk management costs might start its own __________ insurance company, which is a type of corporate self-insurance.

a. captive

b. medical malpractice

c. professional liability

d. compulsory

a. captive

400

Which of the following statements regarding the relationship between a business and its supply chain is true:

a. Supply chains with organizational problems tend to boost members' overall success.

b. A business's supply chain has very little impact on the business's overall success.

c. If a business's supply chain is poorly managed, customer satisfaction is likely to suffer.

d. Effective supply chain management results in lower customer satisfaction.

c. If a business's supply chain is poorly managed, customer satisfaction is likely to suffer.

400

Which of the following finance professionals typically oversees a company's cash management, capital raising, and investment activities:

a. Underwriter

b. Risk manager

c. Cash manager

d. Treasurer

d. Treasurer

400

One way in which many lodging facilities automate their product offerings is by

a. offering valet parking services.

b. implementing self-service check-in options.

c. encouraging guests to order room service.

d. requiring guests to pay for internet service.

b. implementing self-service check-in options.

400

Which of the following is a belief you should have about your own behavior if you want to be assertive:

a. Passive behavior is a good response to aggression.

b. You have the right to choose the way you respond to your circumstances.

c. You have the right to be aggressive in some circumstances.

d. Circumstances determine the way you should behave.

b. You have the right to choose the way you respond to your circumstances.

500

While sequencing the necessary activities for a new construction project, a homebuilder determines that the walls cannot be painted until the drywall has been completed. This is an example of which type of dependency?

a. Finish-to-finish

b. Start-to-finish

c. Finish-to-start

d. Start-to-start

c. Finish-to-start

500

When setting marketing objectives, a business should make sure that they are

a. qualitative and general.

b. flexible and incompatible.

c. measurable and achievable.

d. timely and costly.

c. measurable and achievable.

500

Financial information management is responsible for collecting, maintaining, and reporting data about financial transactions. Business managers often use these data to

a. develop secondary equity markets.

b. determine if liability insurance is needed.

c. forecast financial inflows and outflows.

d. calculate the level of corporate groupthink.

c. forecast financial inflows and outflows.

500

Employees at Winding Brook Resorts have not received raises in three years, but the CEO has received a large bonus each of those years. What can these employees do to advocate for raises?

a. File a lawsuit

b. Go on strike

c. Obtain workers' compensation

d. Quit their jobs

b. Go on strike

500

Word-of-mouth marketing is based on the idea that

a. cheaper marketing is always more effective.

b. consumers trust each other more than brands.

c. paid advertising no longer works.

d. consumers trust brands over other consumers.

d. consumers trust brands over other consumers.