FSE2201 - MERCHANDISING EXAM QUESTIONS AND
ANSWERS WITH COMPLETE SOLUTIONS VERIFIED
Merchandising
the purchasing, pricing, display and sale of merchandise.
Cash advance items
any item of service or merchandise described to the purchaser as a "cash advance",
"accommodation", "cash disbursement", or similar term: any item obtained from a third
party and paid for by the funeral provider on the purchaser's behalf; common to all
forms of price quotation
Considerations regarding merchandise
Availability of product, Price, Quality, Supplier recommendations
Payment Terms
Cash discounts, Quantity Discounts
Cash discounts
a reduction of the price given for payment of an account within the time limits
established by the sales contract
Quantity discounts
Reduction in the amount of a bill when a minimum quantity of merchandise has been
ordered
Rebates
a return of a portion of a payment
, Consignment
To give to an agent to be cared for or sold
Price Determination
Markup
fixed multiple
percent
fixed dollar amount
Markup (gross casket margin; margin)
the difference between merchandise cost and selling price
Fixed multiple (Straight line; times factor)
a price determination method whereby the casket cost is multiplied by a constant factor
Fixed dollar amount
add same dollar amount to wholesale cost of item of merchandise
Graduated recovery
a pricing method where the markup varies
Types of graduated recovery
Increasing, decreasing and modified graduated recovery
sales frequency
the number of times sales in a given price bracket occur over a fixed period of time
Itemization
the method of price quotation by which each unit of service and/or merchandise is
priced separately (In other words, the General Price List and various merchandise price
lists comprise a menu; the consumer orders a la' carte
ANSWERS WITH COMPLETE SOLUTIONS VERIFIED
Merchandising
the purchasing, pricing, display and sale of merchandise.
Cash advance items
any item of service or merchandise described to the purchaser as a "cash advance",
"accommodation", "cash disbursement", or similar term: any item obtained from a third
party and paid for by the funeral provider on the purchaser's behalf; common to all
forms of price quotation
Considerations regarding merchandise
Availability of product, Price, Quality, Supplier recommendations
Payment Terms
Cash discounts, Quantity Discounts
Cash discounts
a reduction of the price given for payment of an account within the time limits
established by the sales contract
Quantity discounts
Reduction in the amount of a bill when a minimum quantity of merchandise has been
ordered
Rebates
a return of a portion of a payment
, Consignment
To give to an agent to be cared for or sold
Price Determination
Markup
fixed multiple
percent
fixed dollar amount
Markup (gross casket margin; margin)
the difference between merchandise cost and selling price
Fixed multiple (Straight line; times factor)
a price determination method whereby the casket cost is multiplied by a constant factor
Fixed dollar amount
add same dollar amount to wholesale cost of item of merchandise
Graduated recovery
a pricing method where the markup varies
Types of graduated recovery
Increasing, decreasing and modified graduated recovery
sales frequency
the number of times sales in a given price bracket occur over a fixed period of time
Itemization
the method of price quotation by which each unit of service and/or merchandise is
priced separately (In other words, the General Price List and various merchandise price
lists comprise a menu; the consumer orders a la' carte
