EOPA Entrepreneurship Study Set Exam
Q&A 100% Solved | Graded A+
multiple choice/60 questions/online/no time limit/70% or higher gains
certificate/you may use a calculator - ✔✔what is the format of the exam?
entrepreneur - ✔✔Someone who creates and runs a business and takes on the
risk
entrepreneurial process - ✔✔methodical way of starting a new venture which
involves four steps
four steps of the entrepreneurial process - ✔✔identifying and evaluating and
opportunity, developing a business plan, ascertaining resource needs, and
managing the resulting enterprise
venture creation - ✔✔the process of turning a new idea or technology into a
business that can succeed and will attract investors
feasibility study - ✔✔study covering a particular aspect of business can help to
reveal if your idea has a good chance of success
intellectual property - ✔✔a work or invention that is the result of creativity,
such as a manuscript or a design, to which one has rights and for which one may
apply for a patent, copyright, trademark, etc.
1|Page
©KERRYMARTIN 2025/2026. YEAR PUBLISHED 2025.
,risk - ✔✔the chance of losing something
reasons for being an entrepreneur - ✔✔making your own rules, doing work you
enjoy, creating greater wealth, helping your community
risks of being an entrepreneur - ✔✔potential business failure, unexpected
obstacles, financial insecurity, long hours and hard work
self assessment - ✔✔evaluating your strengths and weaknesses
aptitude - ✔✔natural ability to do a particular type of work or activity well
attitude - ✔✔a way of viewing or thinking about something that affects how
you feel about it.
skill - ✔✔ability that's learned through training and practice
ways to increase your potential - ✔✔business knowledge, financial skills, career
exploration, community awareness, education, relationships
reasons to study entrepreneurship - ✔✔learn to think like an entrepreneur and
develop a vision for your life
resume - ✔✔a brief account of a person's education, qualifications, and
previous experience, typically sent with a job application.
2|Page
©KERRYMARTIN 2025/2026. YEAR PUBLISHED 2025.
,cover letter - ✔✔a letter that introduces you, explains your purpose for writing,
highlights a few of your experiences or skills, and requests an opportunity to
meet personally with the potential employer.
business plan - ✔✔a well-researched, thought-out working document about
your business concept including several essential topics such as business
description, marketing, financial, management/operations, etc
capital resources - ✔✔goods made and used to produce other goods and
services, such as buildings, machinery, tools and equipment
continuation planning - ✔✔the process of creating systems of prevention and
recovery to deal with potential threats to a company to allow for continuing
sustainability
OSHA - ✔✔Occupational Safety and Health Act of 1970, created to assure safe
and healthful working conditions for working men and women by setting and
enforcing standards and by providing training, outreach, education and
assistance.
break even analysis - ✔✔is a calculation of the point at which revenues equal
expenses
3|Page
©KERRYMARTIN 2025/2026. YEAR PUBLISHED 2025.
, unlimited liability - ✔✔If a small business owner (sole proprietor) is responsible
for all the debts and choices of
a business, the owner is considered to have?
strengths, weaknesses, opportunities, and threats - ✔✔The purpose of SWOT
analysis is to examine a company's?
marketing plan - ✔✔Business document created for the purpose of describing
the current market position of a business and its strategy for making the
customer
aware of the product or service that is being offered
income statement - ✔✔A "period-of-time" report on the profitability of
business operations is a/an
trade association - ✔✔Entrepreneurs can seek technical and general assistance
in a specific industry by
joining organizations such as?
pay bills when they are due - ✔✔A way to establish a good credit record is to
LIFO method - ✔✔In periods of rising prices, which inventory costing method
produces a lower gross
4|Page
©KERRYMARTIN 2025/2026. YEAR PUBLISHED 2025.
Q&A 100% Solved | Graded A+
multiple choice/60 questions/online/no time limit/70% or higher gains
certificate/you may use a calculator - ✔✔what is the format of the exam?
entrepreneur - ✔✔Someone who creates and runs a business and takes on the
risk
entrepreneurial process - ✔✔methodical way of starting a new venture which
involves four steps
four steps of the entrepreneurial process - ✔✔identifying and evaluating and
opportunity, developing a business plan, ascertaining resource needs, and
managing the resulting enterprise
venture creation - ✔✔the process of turning a new idea or technology into a
business that can succeed and will attract investors
feasibility study - ✔✔study covering a particular aspect of business can help to
reveal if your idea has a good chance of success
intellectual property - ✔✔a work or invention that is the result of creativity,
such as a manuscript or a design, to which one has rights and for which one may
apply for a patent, copyright, trademark, etc.
1|Page
©KERRYMARTIN 2025/2026. YEAR PUBLISHED 2025.
,risk - ✔✔the chance of losing something
reasons for being an entrepreneur - ✔✔making your own rules, doing work you
enjoy, creating greater wealth, helping your community
risks of being an entrepreneur - ✔✔potential business failure, unexpected
obstacles, financial insecurity, long hours and hard work
self assessment - ✔✔evaluating your strengths and weaknesses
aptitude - ✔✔natural ability to do a particular type of work or activity well
attitude - ✔✔a way of viewing or thinking about something that affects how
you feel about it.
skill - ✔✔ability that's learned through training and practice
ways to increase your potential - ✔✔business knowledge, financial skills, career
exploration, community awareness, education, relationships
reasons to study entrepreneurship - ✔✔learn to think like an entrepreneur and
develop a vision for your life
resume - ✔✔a brief account of a person's education, qualifications, and
previous experience, typically sent with a job application.
2|Page
©KERRYMARTIN 2025/2026. YEAR PUBLISHED 2025.
,cover letter - ✔✔a letter that introduces you, explains your purpose for writing,
highlights a few of your experiences or skills, and requests an opportunity to
meet personally with the potential employer.
business plan - ✔✔a well-researched, thought-out working document about
your business concept including several essential topics such as business
description, marketing, financial, management/operations, etc
capital resources - ✔✔goods made and used to produce other goods and
services, such as buildings, machinery, tools and equipment
continuation planning - ✔✔the process of creating systems of prevention and
recovery to deal with potential threats to a company to allow for continuing
sustainability
OSHA - ✔✔Occupational Safety and Health Act of 1970, created to assure safe
and healthful working conditions for working men and women by setting and
enforcing standards and by providing training, outreach, education and
assistance.
break even analysis - ✔✔is a calculation of the point at which revenues equal
expenses
3|Page
©KERRYMARTIN 2025/2026. YEAR PUBLISHED 2025.
, unlimited liability - ✔✔If a small business owner (sole proprietor) is responsible
for all the debts and choices of
a business, the owner is considered to have?
strengths, weaknesses, opportunities, and threats - ✔✔The purpose of SWOT
analysis is to examine a company's?
marketing plan - ✔✔Business document created for the purpose of describing
the current market position of a business and its strategy for making the
customer
aware of the product or service that is being offered
income statement - ✔✔A "period-of-time" report on the profitability of
business operations is a/an
trade association - ✔✔Entrepreneurs can seek technical and general assistance
in a specific industry by
joining organizations such as?
pay bills when they are due - ✔✔A way to establish a good credit record is to
LIFO method - ✔✔In periods of rising prices, which inventory costing method
produces a lower gross
4|Page
©KERRYMARTIN 2025/2026. YEAR PUBLISHED 2025.
