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BUSINESS ACUMEN C201 EXAM (ACTUAL EXAM
2025 ) | ALL QUESTIONS AND CORRECT ANSWERS |
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What are three ways that an effective brand name can influence consumer product recognition? Choose 3 answers ---------CORRECT ANSWER-------- ---------It conveys an image, it depicts trademark protection, it reflects brand equity. A customer has purchased a product twice and intends to do so again. Which stage of brand loyalty is this customer in? ---------CORRECT ANSWER-----------------Brand preference Which manufacturer distribution model is enhanced by the shipping and tracking capabilities of a global package delivery service? --------- CORRECT ANSWER-----------------retail Which three tasks are key responsibilities of operations managers? Choose 3 answers ---------CORRECT ANSWER-----------------Planning the overall production process, implementing the production plan, determine the best layout for the firm's facilities. Which two characteristics does a Just-In-Time (JIT) System have? Choose 2 answers ---------CORRECT ANSWER-----------------A JIT system seeks to eliminate anything that does not add value in operations activities, production using JIT reduces a firm's inventory costs.
Which aspect of operations management do the ISO 9000 Standards address? ---------CORRECT ANSWER-----------------Establishment of effective quality systems? Which manufacturing model uses technology to produce small runs of customized products cost effectively? ---------CORRECT ANSWER----------- ------Flexible Which two of the following distribution channels would take title of the products they handle? Choose 2 answers ---------CORRECT ANSWER------ -----------Limited function merchant wholesaler, full function merchant wholesaler Which economic graph is used by organizations to regulate production by predicting the amount of product buyers will purchase at different prices? -- -------CORRECT ANSWER-----------------Demand curve Which two factors drive demand in a microeconomics system? Choose 2 answers ---------CORRECT ANSWER-----------------Customer preference, price of substitute goods How does a sudden shortage of a commodity product affect the immediate demand for the product at its current price? ---------CORRECT ANSWER---- -------------There is no immediate effect on demand Which two impacts result from a nation's increase in productivity? Choose 2 answers ---------CORRECT ANSWER-----------------Economy expands, Personal wealth increases
How does a virtual private network contribute to a firm's workforce productivity? ---------CORRECT ANSWER-----------------employers are enabled to work remotely with secure connectivity to the corporate network via the internet What are three ways cloud computing services enhance company productivity? Choose 3 answers ---------CORRECT ANSWER----------------- Through better resource utilization, through elimination of application downtime, through dedication of resources to each user For which type of communication should employees have an ethical expectation of privacy from company monitoring? ---------CORRECT ANSWER-----------------Personal letters sent through the company mail room Which activity raises ethical issues heightened by the capabilities of data mining? ---------CORRECT ANSWER-----------------Selling customer data for external marketing research Which intent of spyware creates a company security issue? --------- CORRECT ANSWER-----------------The intent to report on a user's internet activity A company might divide itself into smaller groups that best match the types of customers it service. this is an example of ---------CORRECT ANSWER-- ---------------departmentalization.
Which part of the organizing process aids in effective and efficient progress toward planned goals and often results in changes within the organization? ---------CORRECT ANSWER-----------------Evaluating results What is the result of a company increasing the delegation of authority and the span of control? ---------CORRECT ANSWER-----------------Increased number of direct reports per manager Which two key elements does an effective organization include? --------- CORRECT ANSWER-----------------Human interaction, structure Why does a line organizational structure function most effectively in a crisis situation? ---------CORRECT ANSWER-----------------It established a direct flow of authority Number the seven steps in the recruiting and interviewing process from first to last. ---------CORRECT ANSWER-----------------1) Define job requirements, 2) Contact and visit colleges for applicants/interns, 3) Conduct employment tests, 4) Review resumes, 5) Conduct candidate interviews, 6) Follow up interviews, 7) Hiring determination Which primary driver does management use for an organization's structure? ---------CORRECT ANSWER-----------------Achievement of company goals
What three factors should be addressed in a successful marketing plan? Choose 3 answers. ---------CORRECT ANSWER-----------------Target Market, Sales revenue goals, Plan implementation timeline (not on list, marketing budget) Which three characteristics are measured in demographic segmentation? Choose 3 answers ---------CORRECT ANSWER-----------------Race and ethnicity, Income, Household size In which three ways does business-buying behavior differ from consumer- buying behavior? Choose 3 answers ---------CORRECT ANSWER------------- ----Buyers face organizational influences in addition to their own preferences, purchasers often invite selected providers to bid on a purchase, a group or committee often makes decisions Which three conditions, in a global selling environment, should a small company leverage to create a competitive advantage? Choose 3 answers - --------CORRECT ANSWER-----------------cultural homogeneity, mobility of labor, local labor costs With which two types of products does a marketing strategy rely on advertising more than personal selling? Choose 2 answers. --------- CORRECT ANSWER-----------------Consumable supplies, accessories to primary products After years of marketing a body lotion, a cosmetics company begins promoting the lotion as an the lotion as an insect repellent as well. In which three product life cycle extension strategies did this company engage? Choose 3 answers ---------CORRECT ANSWER-----------------Adding new users, finding new uses for the product, increasing frequency of use.
Which two economic impacts should a manager anticipate when the U.S. government reduces the number of Treasury bills, Treasury Notes, and Treasury bonds it sells? Choose 2 answers ---------CORRECT ANSWER---- -------------An increase in overall cost of debt to private borrowers, an increase of funds for public services What is one role of a financial manage? ---------CORRECT ANSWER-------- ---------Analyzing major investment decisoins Which two activities are finance activities rather than accounting activities? Choose 2 answers ---------CORRECT ANSWER-----------------Making capital market investments, creating a financial plan Which three sources should a business consider when seeking a long-term source? Choose 3 answers ---------CORRECT ANSWER----------------- Hedge funds, Venture capital, public sale of stocks In which type of security should a business invest its excess cash in anticipation of paying off the current year's tax liability? ---------CORRECT ANSWER-----------------Commercial paper Which role does the underwriter play in financing business operations when using the capital market to sell securities to the public? ---------CORRECT ANSWER-----------------It insures the value of the security to the investor
Which three characteristics make commercial paper a low-risk, attractive source of short-term funding for a business? ---------CORRECT ANSWER-- ---------------It has a maturity that ranges between 1 and 270 days, it carries interest rates that are 1 to 2 percent less than bank loans, it can make large amounts of money available What should a firm do to manage the risk of using leverage when exploring long-term funding options? ---------CORRECT ANSWER----------------- Ensure that earnings remain larger than interests payments Which financial statement should an investor examine to identify the liabilities of a firm? ---------CORRECT ANSWER-----------------The balance sheet A company wishes to determine if it should fund a project with bonds or equity. Which business concept would it most likely use to assist in the decision? ---------CORRECT ANSWER-----------------leverage Which calculation determines a firm's return on equity? ---------CORRECT ANSWER-----------------net income divided by average equity Total productivity ---------CORRECT ANSWER-----------------output (goods or services) / input (human, natural resources, capital) Liquidity ratio ---------CORRECT ANSWER-----------------current assets / current liabilities
acid test ---------CORRECT ANSWER-----------------current assets - inventory / current liabilities inventory turnover ---------CORRECT ANSWER-----------------cost of goods sold / average inventory (average of 2013 + 2014) receivables turnover ---------CORRECT ANSWER-----------------credit sales / average account receivables (average of 2013 + 2014) total assets turnover ---------CORRECT ANSWER-----------------sales / average total assets what ratios are considered liquidity ratios ---------CORRECT ANSWER------- ----------the firms abilities to meet its short term obligations and include the liquidity ratio and acid test what ratios are considered activity ratios ---------CORRECT ANSWER-------- ---------measue managements use of the firms resources and include all turn over ratios what ratios are considered profitability ratios ---------CORRECT ANSWER--- --------------gross profit, net profit, and return on equity
which of the two information systems are operational support systems ------ ---CORRECT ANSWER-----------------process control system, transaction process system a decision support system (DSS) belongs to which support system --------- CORRECT ANSWER-----------------management is ethical and legal the same thing ---------CORRECT ANSWER----------------
- no when two or more users connect using Ethernet or WiFi to the same server to share printers or other information ---------CORRECT ANSWER------------- ----local area network (LAN what are advantages to WiFi ---------CORRECT ANSWER----------------- mobility, expansion of LAN the coordination of all promotional activities - media advertising, direct mail, personal selling, sales promotion, and public relations - to produce a unified, customer-focused message. ---------CORRECT ANSWER------------- ----integrated marketing communications used in the growth and maturity stage of the product life cycle to improve competitive status of a product. ---------CORRECT ANSWER----------------- persuasive advertising
compares products directly with their competitors ether by name or by inference ---------CORRECT ANSWER-----------------comparative advertising advertising to maintain awareness of the importance and usefulness of a product ---------CORRECT ANSWER-----------------reminder-oriented potential buyers will request that their suppliers-retailers or local distributors
- carry the products thereby pulling it through the distribution channel --------
- CORRECT ANSWER-----------------pulling strategy companies promote the product to members of the marketing channel, not to end users ---------CORRECT ANSWER-----------------pushing strategy concentrating marketing efforts on the product (features, quality, value), distribution, and promotional elements of the marketing mix. --------- CORRECT ANSWER-----------------competitive pricing three different product types ---------CORRECT ANSWER----------------- specialty, shopping, convenience which of the product types is purchased most infrequently --------- CORRECT ANSWER-----------------specialty what are the four stages of the product life cycle ---------CORRECT ANSWER-----------------introductory, growth, maturity, decline
using what can make a price cheaper to a consumer ---------CORRECT ANSWER-----------------wholesaler what adds value to a product ---------CORRECT ANSWER----------------- marketing intermediaries what is the purpose of a strategic marketing stratey ---------CORRECT ANSWER-----------------achieve organizational goals what is not a non-traditional marketing technique ---------CORRECT ANSWER-----------------team what is a non-traditional marketing technique you would use to market yourself as a real-estate agent ---------CORRECT ANSWER----------------- people the 4 P's product, place, promotion, price make up what ---------CORRECT ANSWER-----------------marketing mix name three personal, determinants that influence your consumer behavior - --------CORRECT ANSWER-----------------learned experience, perception, self-concept what market segmentations are used in B2B and B2C ---------CORRECT ANSWER-----------------demographic and geographic
targeting consumer markets based on lifestyle is what kind of segmentation ---------CORRECT ANSWER-----------------psychographic the advantage of being able to offer a product at a much lower price than a competitor is ---------CORRECT ANSWER-----------------comparative advantage B2B relationship marketing is easier to create with ---------CORRECT ANSWER-----------------new businesses which type of production carries the highest inventory ---------CORRECT ANSWER-----------------mass which type of productions has little to no finished inventory --------- CORRECT ANSWER-----------------customer driven which type of production utilizes the most information technology (automation). ---------CORRECT ANSWER-----------------flexible which type of production requires the highest level of skilled workers --------- CORRECT ANSWER-----------------mass production what are two advantages to computer aided manufacturing --------- CORRECT ANSWER-----------------accuracy, faster
which policy is used to manage the economy using government spending and taxation ---------CORRECT ANSWER-----------------fiscal which type of unemployment is the employee expecting to be unemployed for a portion of the year ---------CORRECT ANSWER-----------------sesonal which type of unemployment is a result of not having necessary skills for a job ---------CORRECT ANSWER-----------------structural a specific economic situation when price and demand rise together --------- CORRECT ANSWER-----------------inflation as a business is it best to reduce spending or increase spending in a high- inflation environment ---------CORRECT ANSWER-----------------reduce as a business which environment is best to make captial improvments ------ ---CORRECT ANSWER-----------------low-inflation which type of competition requires government regulation for entry --------- CORRECT ANSWER-----------------monopoly which type of competition is the easiest to enter ---------CORRECT ANSWER-----------------pure
what is the name of the graph that we use to demonstrate demand --------- CORRECT ANSWER-----------------demand curve what is the point where supply and demand curves intersect --------- CORRECT ANSWER-----------------equilibrium price is the study of supply and demand a micro or macro economic issue --------- CORRECT ANSWER-----------------micro when federal taxes are reduced is that micro or macro ---------CORRECT ANSWER-----------------macro when a tariff is increased on importing produce, is that micro or macro ------ ---CORRECT ANSWER-----------------macro-economics name the three tiers of management ---------CORRECT ANSWER------------- ----middle, supervisory, top management is the process of ---------CORRECT ANSWER----------------- achieving organizational objects which level of planning does the middle manager complete --------- CORRECT ANSWER-----------------tactical
