ESB Exam Certification 3 with all Correct & 100% Verified
Answers |Actual Complete Exam |Already Graded A+
An executive summary should briefly explain everything in a business plan in how many pages?
✔Correct Answer-Two pages.
Factors that aid in determining whether or not a business opportunity is viable include market
size, _____, management of cash flow, management skill sets, and passions. ✔Correct
Answer-Relationships.
One value of using _____ material is that they are usually well-recognized, which may help to
boost sales. ✔Correct Answer-Trademarked.
Which two sources are considered secondary data? ✔Correct Answer-"Company newsletters"
and "internet articles."
What are twos characteristic of fulfillment centers that differ from direct distribution?
✔Correct Answer-"Fulfillment centers pack and ship for a manufacturer" and "the manufacturer
controls all aspects of distribution."
Match the sales process steps to their description. ✔Correct Answer-Prospecting: "Finding
potential customers."
Preparation: "Developing a presentation tailored to a potential client and their specific needs."
Approach: "Contacting a client or potential client."
Objection: "Alleviating concerns presented by the customer."
Closing: "Getting a client's decision to purchase or not to move forward."
Follow-up: "Maintaining a relationship with customers to obtain repeat business and potential
referrals."
When it comes to setting one's own quality standards, one must ensure they are...? ✔Correct
Answer-Measurable.
What are two characteristics of direct distribution that differ from fulfillment centers?
✔Correct Answer-"Direct distribution is also known as a zero level channel" and "the
manufacturer controls all aspects of distribution."
, What might one have to do when listening to feedback from customers? ✔Correct
Answer-"Change markets" and "create completely new products."
For each statement about Direct Distribution and Indirect distribution ✔Correct Answer-True:
"Direct competition is a company that offers the same thing you offer," "indirect competition is
a business whose services are different from yours but satisfy the same need," and "when your
target audience buys products from a competitor instate of from you, that is indirect
competition."
False"
All companies that sell goods and services are indirect competitors."
Which are options for determining what a customer's service needs are? ✔Correct
Answer-"Talk with individuals interested in the service," "survey customers in the area," and
"place phone calls."
What is value engineering? ✔Correct Answer-"Substituting high-quality components with
low-cost components that still meet the product's lifetime duration and basic purpose."
What is the formula for determining a return on investment (ROI)? ✔Correct Answer-ROI =
(Net profit/cost of investment) x 100
When must real estate loans through the Small Business Administration (SBA) be paid back?
✔Correct Answer-25 years
Match the product/market fit stage to its description. ✔Correct Answer-Traction: "Sales gain
momentum and a business starts to grow."
Prototype: "Identify how a product or service solves customers' problems."
Monetization: "A business starts to earn revenue."
Idea: "Develop an idea for a product or service."
Growth: "See growth and continue to grow the business."
Launch: "The business is legally formed, and sales start to occur."
Deidre owns a pet store. Last month, her income was $5,500, her cost of goods was $800, and
her total expenses were $2,600. What are Deidre's net income and gross income for last
month?
Net income = $2,100 and Gross income = $4,200
Net income = $3.100 and Gross income = $4.700
Answers |Actual Complete Exam |Already Graded A+
An executive summary should briefly explain everything in a business plan in how many pages?
✔Correct Answer-Two pages.
Factors that aid in determining whether or not a business opportunity is viable include market
size, _____, management of cash flow, management skill sets, and passions. ✔Correct
Answer-Relationships.
One value of using _____ material is that they are usually well-recognized, which may help to
boost sales. ✔Correct Answer-Trademarked.
Which two sources are considered secondary data? ✔Correct Answer-"Company newsletters"
and "internet articles."
What are twos characteristic of fulfillment centers that differ from direct distribution?
✔Correct Answer-"Fulfillment centers pack and ship for a manufacturer" and "the manufacturer
controls all aspects of distribution."
Match the sales process steps to their description. ✔Correct Answer-Prospecting: "Finding
potential customers."
Preparation: "Developing a presentation tailored to a potential client and their specific needs."
Approach: "Contacting a client or potential client."
Objection: "Alleviating concerns presented by the customer."
Closing: "Getting a client's decision to purchase or not to move forward."
Follow-up: "Maintaining a relationship with customers to obtain repeat business and potential
referrals."
When it comes to setting one's own quality standards, one must ensure they are...? ✔Correct
Answer-Measurable.
What are two characteristics of direct distribution that differ from fulfillment centers?
✔Correct Answer-"Direct distribution is also known as a zero level channel" and "the
manufacturer controls all aspects of distribution."
, What might one have to do when listening to feedback from customers? ✔Correct
Answer-"Change markets" and "create completely new products."
For each statement about Direct Distribution and Indirect distribution ✔Correct Answer-True:
"Direct competition is a company that offers the same thing you offer," "indirect competition is
a business whose services are different from yours but satisfy the same need," and "when your
target audience buys products from a competitor instate of from you, that is indirect
competition."
False"
All companies that sell goods and services are indirect competitors."
Which are options for determining what a customer's service needs are? ✔Correct
Answer-"Talk with individuals interested in the service," "survey customers in the area," and
"place phone calls."
What is value engineering? ✔Correct Answer-"Substituting high-quality components with
low-cost components that still meet the product's lifetime duration and basic purpose."
What is the formula for determining a return on investment (ROI)? ✔Correct Answer-ROI =
(Net profit/cost of investment) x 100
When must real estate loans through the Small Business Administration (SBA) be paid back?
✔Correct Answer-25 years
Match the product/market fit stage to its description. ✔Correct Answer-Traction: "Sales gain
momentum and a business starts to grow."
Prototype: "Identify how a product or service solves customers' problems."
Monetization: "A business starts to earn revenue."
Idea: "Develop an idea for a product or service."
Growth: "See growth and continue to grow the business."
Launch: "The business is legally formed, and sales start to occur."
Deidre owns a pet store. Last month, her income was $5,500, her cost of goods was $800, and
her total expenses were $2,600. What are Deidre's net income and gross income for last
month?
Net income = $2,100 and Gross income = $4,200
Net income = $3.100 and Gross income = $4.700
