Retail Industry Fundamentals |Questions and Answers
1. Which of the following is most likely to be a role in a retail career?
A. Buyer
B. Mechanic
C. Babysitter
D. Therapist: A. Buyer
2. From the list below, select the business in the retail industry.
A. Doctor's office
B. Department store
C. Car Repair Shop
D. City Park: B. Department Store
3. A Person or a company that sells goods and/or services to a customer is called a
A. seller
B. customer
C. consumer
D. retailer: D. retailer
4. What's considered a retail service?
A. Car wash
B. New car
C. Car engine repair
D. New car tires: A. Car wash
5. What item is a retail product?
A. Car tire warranty
B. Car tire repair
C. Car tire
D. Car tire installation: C. Car tire
6. Which of the following skills are most helpful for a salesperson?
A. Active listening and communication
B. Quickness and accuracy
C. Addition and subtraction
D. Creativity and judgement: A. Active listening and communication
7. The physical goods (that can be touched) that can be bought and sold:
, Retail Industry Fundamentals |Questions and Answers
A. Services
B. Products
C. Items
D. Commerce: B. Products
8. Buys large quantities of product from manufacturers and sells them to retailers:
A. Wholesaler
, Retail Industry Fundamentals |Questions and Answers
B. Service Seller
C. Franchiser
D. Warehouse: A. Wholesaler
9. What organization oversees and controls workplace safety regulations?
A. SOTP
B. FLSA
C. FMLA
D. OSHA: D. OSHA
10.In the retail product cycle, what step comes after distribution of products?
A. Selling
B. Selection
C. Allocation
D. Distribution: A. Selling
11.The period key term in retail for a period of time that an item remains usable, or fit for consumption,
is called:
A. Expiration
B. Shelf Life
C. Inventory
D. Spoiled: B. Shelf Life
12.The term for distributing merchandise from the manufacturer to retail locations is called:
A. Receiving
B. Refreshing
C. Updating
D. Allocation: D. Allocation
13.When distribution team members use replenishment reports to retrieve quantities of items to be sent to
stores they are:
A. Packing
B. Picking
C. Sending
D. Mixing: B. Picking
14.Merchandise without an expiration date like electronics, tools and home goods typically have a longer:
A. Run Time
1. Which of the following is most likely to be a role in a retail career?
A. Buyer
B. Mechanic
C. Babysitter
D. Therapist: A. Buyer
2. From the list below, select the business in the retail industry.
A. Doctor's office
B. Department store
C. Car Repair Shop
D. City Park: B. Department Store
3. A Person or a company that sells goods and/or services to a customer is called a
A. seller
B. customer
C. consumer
D. retailer: D. retailer
4. What's considered a retail service?
A. Car wash
B. New car
C. Car engine repair
D. New car tires: A. Car wash
5. What item is a retail product?
A. Car tire warranty
B. Car tire repair
C. Car tire
D. Car tire installation: C. Car tire
6. Which of the following skills are most helpful for a salesperson?
A. Active listening and communication
B. Quickness and accuracy
C. Addition and subtraction
D. Creativity and judgement: A. Active listening and communication
7. The physical goods (that can be touched) that can be bought and sold:
, Retail Industry Fundamentals |Questions and Answers
A. Services
B. Products
C. Items
D. Commerce: B. Products
8. Buys large quantities of product from manufacturers and sells them to retailers:
A. Wholesaler
, Retail Industry Fundamentals |Questions and Answers
B. Service Seller
C. Franchiser
D. Warehouse: A. Wholesaler
9. What organization oversees and controls workplace safety regulations?
A. SOTP
B. FLSA
C. FMLA
D. OSHA: D. OSHA
10.In the retail product cycle, what step comes after distribution of products?
A. Selling
B. Selection
C. Allocation
D. Distribution: A. Selling
11.The period key term in retail for a period of time that an item remains usable, or fit for consumption,
is called:
A. Expiration
B. Shelf Life
C. Inventory
D. Spoiled: B. Shelf Life
12.The term for distributing merchandise from the manufacturer to retail locations is called:
A. Receiving
B. Refreshing
C. Updating
D. Allocation: D. Allocation
13.When distribution team members use replenishment reports to retrieve quantities of items to be sent to
stores they are:
A. Packing
B. Picking
C. Sending
D. Mixing: B. Picking
14.Merchandise without an expiration date like electronics, tools and home goods typically have a longer:
A. Run Time
