BUSINESS EXAM PRACTICE TEST
QUESTIONS (ETS)
You,are,the,operations,manager,of,a,manufacturing,company,that,is,experiencing,decreas
ed,productivity,and,increased,waste,due,to,poor,quality,control,processes.,Which,of,the,foll
owing,strategies,would,be,most,effective,in,improving,supply,chain,logistics?,-,ans-
✔✔The,development,of,strong,relationships,with,suppliers,and,customers
Which,of,the,following,cost,allocation,methods,assigns,manufacturing,overhead,costs,to,pr
oducts,based,on,the,actual,consumption,of,overhead,resources?,-,ans-✔✔Activity-
based,costing,(ABC)
In,a,sell,or,process,further,decision,,which,of,the,following,costs,are,relevant?,-,ans-
✔✔Only,additional,costs,beyond,the,split-off,point
Which,of,the,following,statements,is,true,about,process,costing?,-,ans-
✔✔It,is,used,for,goods,that,are,produced,in,a,continuous,flow
Which,of,the,following,statements,is,true,about,absorption,costing?,-,ans-
✔✔It,assigns,both,variable,and,fixed,manufacturing,costs,to,products
Which,of,the,following,is,a,key,metric,used,in,strategic,marketing,planning?,-,ans-
✔✔Market,share
What,is,the,role,of,culture,in,shaping,consumer,behavior?,-,ans-
✔✔Culture,influences,consumer,behavior,but,is,not,the,only,factor.
How,can,a,company,use,market,segmentation,to,better,target,its,customers?,-,ans-
✔✔By,identifying,the,unique,needs,and,preferences,of,different,customer,groups
What,is,the,difference,between,primary,and,secondary,data?,-,ans-
✔✔Primary,data,is,collected,by,the,company,for,a,specific,purpose,,while,secondary,data,i
s,data,that,has,been,collected,by,others,for,a,different,purpose.
What,is,the,purpose,of,a,research,design,in,market,research?,-,ans-
✔✔To,ensure,that,the,research,is,valid,and,reliable
What,is,the,difference,between,a,marketing,plan,and,a,marketing,strategy?,-,ans-
✔✔A,marketing,plan,is,a,detailed,document,outlining,specific,tactics,to,achieve,a,marketin
, g,goal,,while,a,marketing,strategy,is,a,broad,plan,outlining,the,overall,approach,to,marketin
g.
What,is,the,difference,between,a,product,line,and,a,product,mix?,-,ans-
✔✔A,product,line,is,a,group,of,related,products,that,are,sold,by,a,company,,while,a,produc
t,mix,is,the,total,number,of,products,sold,by,a,company.
How,can,a,company,use,customer,relationship,management,
(CRM),to,improve,its,marketing,effectiveness?,-,ans-
✔✔By,using,data,to,segment,customers,and,tailor,marketing,messages,to,their,needs,and
,preferences
What,is,the,difference,between,a,focus,group,and,a,survey,in,market,research?,-,ans-
✔✔A,focus,group,is,a,qualitative,research,method,that,involves,a,small,group,of,people,dis
cussing,a,specific,topic,,while,a,survey,is,a,quantitative,research,method,that,involves,a,lar
ge,group,of,people,answering,a,set,of,questions.
What,is,the,difference,between,primary,and,secondary,research?,-,ans-
✔✔Secondary,research,is,research,that,has,already,been,conducted,by,others,,such,as,in
dustry,reports,and,academic,journals.
What,is,the,purpose,of,a,research,hypothesis,and,how,can,it,be,used,in,market,research?,-
,ans-
✔✔It,can,be,used,in,market,research,to,guide,the,research,process,and,to,help,focus,the,r
esearch,on,specific,questions,or,issues.
What,is,the,difference,between,a,product,and,a,service?,-,ans-
✔✔A,product,is,a,physical,object,that,can,be,purchased,,while,a,service,is,an,intangible,ac
tivity,or,benefit,that,is,provided,to,a,customer.
What,is,the,difference,between,a,cost-plus,pricing,strategy,and,a,value-
based,pricing,strategy?,-,ans-✔✔A,value-
based,pricing,strategy,involves,setting,prices,based,on,the,perceived,value,of,the,product,
or,service,to,the,customer.
How,can,the,company,use,environment,scanning,to,identify,potential,opportunities,and,thr
eats,in,the,market?,-,ans-
✔✔The,company,can,conduct,a,PEST,analysis,to,identify,political,,economic,,social,,and,t
echnological,factors,that,may,impact,the,market,for,vegan,protein,bars.
How,can,the,company,use,segmentation,to,identify,potential,target,markets,for,the,tool?,-,
ans-
✔✔The,company,can,divide,potential,customers,into,segments,based,on,company,size,a
nd,project,complexity,,and,then,develop,different,marketing,strategies,for,each,segment.
QUESTIONS (ETS)
You,are,the,operations,manager,of,a,manufacturing,company,that,is,experiencing,decreas
ed,productivity,and,increased,waste,due,to,poor,quality,control,processes.,Which,of,the,foll
owing,strategies,would,be,most,effective,in,improving,supply,chain,logistics?,-,ans-
✔✔The,development,of,strong,relationships,with,suppliers,and,customers
Which,of,the,following,cost,allocation,methods,assigns,manufacturing,overhead,costs,to,pr
oducts,based,on,the,actual,consumption,of,overhead,resources?,-,ans-✔✔Activity-
based,costing,(ABC)
In,a,sell,or,process,further,decision,,which,of,the,following,costs,are,relevant?,-,ans-
✔✔Only,additional,costs,beyond,the,split-off,point
Which,of,the,following,statements,is,true,about,process,costing?,-,ans-
✔✔It,is,used,for,goods,that,are,produced,in,a,continuous,flow
Which,of,the,following,statements,is,true,about,absorption,costing?,-,ans-
✔✔It,assigns,both,variable,and,fixed,manufacturing,costs,to,products
Which,of,the,following,is,a,key,metric,used,in,strategic,marketing,planning?,-,ans-
✔✔Market,share
What,is,the,role,of,culture,in,shaping,consumer,behavior?,-,ans-
✔✔Culture,influences,consumer,behavior,but,is,not,the,only,factor.
How,can,a,company,use,market,segmentation,to,better,target,its,customers?,-,ans-
✔✔By,identifying,the,unique,needs,and,preferences,of,different,customer,groups
What,is,the,difference,between,primary,and,secondary,data?,-,ans-
✔✔Primary,data,is,collected,by,the,company,for,a,specific,purpose,,while,secondary,data,i
s,data,that,has,been,collected,by,others,for,a,different,purpose.
What,is,the,purpose,of,a,research,design,in,market,research?,-,ans-
✔✔To,ensure,that,the,research,is,valid,and,reliable
What,is,the,difference,between,a,marketing,plan,and,a,marketing,strategy?,-,ans-
✔✔A,marketing,plan,is,a,detailed,document,outlining,specific,tactics,to,achieve,a,marketin
, g,goal,,while,a,marketing,strategy,is,a,broad,plan,outlining,the,overall,approach,to,marketin
g.
What,is,the,difference,between,a,product,line,and,a,product,mix?,-,ans-
✔✔A,product,line,is,a,group,of,related,products,that,are,sold,by,a,company,,while,a,produc
t,mix,is,the,total,number,of,products,sold,by,a,company.
How,can,a,company,use,customer,relationship,management,
(CRM),to,improve,its,marketing,effectiveness?,-,ans-
✔✔By,using,data,to,segment,customers,and,tailor,marketing,messages,to,their,needs,and
,preferences
What,is,the,difference,between,a,focus,group,and,a,survey,in,market,research?,-,ans-
✔✔A,focus,group,is,a,qualitative,research,method,that,involves,a,small,group,of,people,dis
cussing,a,specific,topic,,while,a,survey,is,a,quantitative,research,method,that,involves,a,lar
ge,group,of,people,answering,a,set,of,questions.
What,is,the,difference,between,primary,and,secondary,research?,-,ans-
✔✔Secondary,research,is,research,that,has,already,been,conducted,by,others,,such,as,in
dustry,reports,and,academic,journals.
What,is,the,purpose,of,a,research,hypothesis,and,how,can,it,be,used,in,market,research?,-
,ans-
✔✔It,can,be,used,in,market,research,to,guide,the,research,process,and,to,help,focus,the,r
esearch,on,specific,questions,or,issues.
What,is,the,difference,between,a,product,and,a,service?,-,ans-
✔✔A,product,is,a,physical,object,that,can,be,purchased,,while,a,service,is,an,intangible,ac
tivity,or,benefit,that,is,provided,to,a,customer.
What,is,the,difference,between,a,cost-plus,pricing,strategy,and,a,value-
based,pricing,strategy?,-,ans-✔✔A,value-
based,pricing,strategy,involves,setting,prices,based,on,the,perceived,value,of,the,product,
or,service,to,the,customer.
How,can,the,company,use,environment,scanning,to,identify,potential,opportunities,and,thr
eats,in,the,market?,-,ans-
✔✔The,company,can,conduct,a,PEST,analysis,to,identify,political,,economic,,social,,and,t
echnological,factors,that,may,impact,the,market,for,vegan,protein,bars.
How,can,the,company,use,segmentation,to,identify,potential,target,markets,for,the,tool?,-,
ans-
✔✔The,company,can,divide,potential,customers,into,segments,based,on,company,size,a
nd,project,complexity,,and,then,develop,different,marketing,strategies,for,each,segment.
