EASY

1. Entrepreneur means:
a. Risk Taker c. To Research
b. To undertake d. To Improve standards of living

2. Skill the manager’s ability to think in the abstract

a. Technical skills c. Time management skills
b. Conceptual skills d. Diagnostic skills

3. Which of the following are NOT belong in the group of Social environment?
a. Economical c. Political
b. Socio-cultural d. Natural

4. This management involves handling and maintaining the clerical aspects of all functional areas of the
organization.
a. Information and Communication Management
b. Financial Management
c. HR management
d. Office Management

5. This is a method used in acquire suppliers and purchase quality materials at competitive price, where
prospective suppliers provide price quotations and other details for the product and services needed.
a. Purchasing c. Bidding
b. Buying d. Ordering

6. Sourcing is critical in any business endeavor as the businessman would want to have the cheapest
possible at the highest quality.
A. Method
B. Manpower
C. Machine
D. Materials

7. This is the silent hero in marketing world because it refers to the outside appearance of a product and
how it is presented to the customers.
a. Price c. Place
b. Packaging d. People

8. Which of the following is not a step to follow before operating a business?

a. Register your business
b. Set up an accounting system
c. Advertise the business using facebook
d. Selling the product
9. It refers to activities a company undertakes to promote the buying or selling of a product or service.
A. Marketing
B. Plan
C. Marketing Plan
D. Business Plan

10. An individual or business that purchases another company's goods or services

a. Suppliers c. Consumers
b. Managers d. Competitors

11. It is a visual trademark that identifies the brand with its design.
A. Brand Name
B. Brand Logo
C. Brand Slogan
D. Brand Symbol

12. It is storing the finished goods manufactures in a facility until they are distributed to end users.
A. Warehousing
B. Transportation
C. Distribution Hub
D. Inventory

13. This deals with the worker’s integrity and how he or she deals with his or her coworkers, bosses, and
customers.
A. Educational Background
B. Work Experience
C. Work Attitude
D. Job Contract

14. Government officials can enact laws that could cause serious harm to specific business sectors.
A. Economic Forces
B. Socio-cultural Forces
C. Political Forces
D. Demographic Forces

15. It is the facet of business that is responsible for building a good rapport with customers.

a.Production
b.Management
c. Marketing
d. Accounting
16. The process of finding people to hire for a job.
a. Job analysis c. Recruitment
b. Interview d. Planning

17. It is an entrepreneur who hop from one company to another to act as the innovation champion,
providing creative and efficient solutions.
A. Technopreneur
B. Social entrepreneur
C. Intrapreneur
D. Extrapreneur

18. An entrepreneur who puts technology at the core of his/her business model.
A. Technopreneur
B. Social entrepreneur
C. Intrapreneur
D. Extrapreneur

19. The larger scale forces within cultures and societies that affect the thoughts, feelings and behaviors.
A. Economic Forces
B. Sociocultural Forces
C. Political Forces
D. Demographic Forces

20. This is classified as goods that meet the same requirements or fulfill the same needs as another good.
a. Normal Goods
b. Inferior Goods
c. Luxury Goods
d. Substitutes

21. Emphasizing that the new product is of better quality and has a more reasonable price than products
of competitors.
A. Product Advantage
B. Financial Advantage
C. Marketing Advantage
D. Advertising Advantage

22. Emphasizing that the new product is of better quality and has a more reasonable price than products
of competitors.
A. Product Advantage
B. Financial Advantage
C. Marketing Advantage
D. Advertising Advantage
23. Which functional area of management involves the task of overseeing the development of new
products, advertisements, promotions, and sales?
a. financial management b. Office management
c. human resource management d. Marketing management

24. Great communication skills and analytical abilities is an example of a type of

a. Strength c. Opportunity
b. Weakness d. Threat

25. It is the amount earned by a business in its main operating activities.

a. Expenses c. Freight in
b. Revenue d. Cost of sales

Moderate

1. Which of the following would be part of a customer’s value-delivery system for a book club?
A. reading the mailing that announces the selections for the upcoming month
B. paying the club invoice
C. receiving the package of books
D. reading the mailing that announces the book review

2. The practice of gathering and analyzing data to drive future decisions.

A. Market Size
B. Market Segmentation
C. Market Intelligence
D. Market Research

3. An increase in the price of electricity bill will force you to:

a. increase your demand for kerosene heaters and coal.
b. increase your demand for light bulbs and aircon.
c. increase your demand for stereos and videokes.
d. increase your demand for TVs and use of gadgets.

4. It should also be tracked religiously by the entrepreneur/manufacturer.

A. Warehousing
B. Transportation
C. Distribution Hub
D. Inventory

5. For which of the following products would there be irregular demand?

A. picture frames
B. clocks
C. potatoes
D. graduation cards
6. A vital element when developing your marketing strategy.
A. Market Size
B. Market Segmentation
C. Market Intelligence
D. Market Research

7. Mr. Dennis Elecanal purchased new car as a gift for his father’s birthday. This good is
a. Consumers Good c. Capital Good
b. Luxury Good d. Economic Good

8. A business which involves raising of domesticated type of birds like chicken, ducks, and geese for meat
and egg production.
a. Cattle Raising c. Fish Pens
b. Corn Farming d. Poultry Raising

9. The process of systematically retaining power and authority in the hands of higher-level managers
a. Decentralization c. Job Specialization
b. Centralization d. Organization

10. Insufficient marketing strategies.

A. Inadequate Market Analysis
B. Lack of Effective Marketing Effort
C. Technical or Production Problem
D. Poor Timing of Introduction

11. Someone who can see how things can be improved and who rallies people to move toward that better
vision.

A. The Self Employed

B. The Manager
C. The Leader
D. The Investor

12. A person responsible for controlling or administering all or part of a company or similar organization.
A. The Self Employed
B. The Manager
C. The Leader
D. The Investor

13. Surveys of customer satisfaction:

A. indicate customers will complain when they are dissatisfied
B. demonstrate that less than 5 percent of all customers will actively complain if
dissatisfied
C. are accurate measurements of the total level of satisfaction/dissatisfaction among
customers
D. use a value-gap analysis
14. The process of selling goods and services through sales channel to reach its consumers.
a. Barter c. Retail
b. Discounts d. Trade

15. It is all about thriving business opportunities.

A. Seeking the opportunity
B. Screening the opportunity
C. Seizing the opportunity
D. Opportunity

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16. Which of the following statements BEST describes the new economy that has developed as a direct
result of the digital revolution?
A. Consumers are experiencing a continuing loss of buying power.
B. Companies can no longer have two-way communications with their customers.
C. Customers can no longer easily engage in comparison shopping.
D. Companies can customize product offerings to suit the needs of individual
customers.

17. For which of the following products is there a strong latent demand?
A. cemetery plots
B. low-fat ice cream
C. solar-powered automobiles that run like they had 8-cylinder engines
D. magnolia trees

18. When Anne Peterson began Olde Westport Spice and Trading Co., she had one product, an all-
purpose seasoning mix called Olde Westport’s Special Blend for adding flavor to bland
casseroles. She mixed and packaged the product in her basement. She then sold her
product at craft fairs throughout the Midwest. Peterson was practicing _____ marketing.
A. formulated
B. entrepreneurial
C. demand
D. intrapreneurial

19. A powerful elements of the brand that extend beyond the logo.
A. Brand Name
B. Brand Logo
C. Brand Slogan
D. Brand Symbol

20. A person does not work for a specific employer who pays them a consistent salary or wage.
A. The Self Employed
B. The Manager
C. The Leader
D. The Investor
21. Generally summarizes the terms and conditions of the candidate’s employment with the business.
A. Educational Background
B. Work Experience
C. Work Attitude
D. Job Contract

22. This will tell him or her what to expect from the applicant and what he or she can potentially
contribute to the business based on his or her past positions and experiences.
A. Educational Background
B. Work Experience
C. Work Attitude
D. Job Contract

Difficult

1. As a manager, how do you lessen politics in the workplace?

a. Strengthen the recruitment process
b. Hire the right people for the right job
c. Changing the norms
d. Both A and B

2. Why do you think a manager who fails to plan can still be successful?
a. He has assets to liquidate c. He has a second chance to plan
b. He has someone to negotiate with d. He has other companies

3. A Filipino restaurant wants to open its first branch in South Korea. Create your first team. Which
among the following should be the first team to be created by the top managers?
a. Marketing, Finance, and Sales
b. Marketing, Finance, and Research and Development
c. Human Resources, IT, and Finance
d. Admin, Accounting, and Finance

4. Mr. Dela Cruz, a topnotcher in the recent CPA Board Exam, was forced to transfer by the manager of
accounting to another team at SGV. He was so confused about it. He did nothing wrong in the
company. All of his reports had been submitted on time and were approved by the upper
management. He was very angry and the entire office felt his anger. He did not receive any
explanation at all. Did the manager make the right decision?
a. Yes, Mr. Dela Cruz lacks interpersonal skills
b. Yes, Mr. Dela Cruz lacks conceptual and technical skills
c. No, the manager lacks interpersonal skills
d. No, the manager lacks decision-making skills
5. What is the best way to control external factors that a company is currently experiencing?
a. Focus on your strength while improving your weaknesses
b. Focus on competitors’ strengths and weaknesses
c. Focus on your opportunities and threats
d. Focus on what matters the most

6. Why do you think it is hard to compete when you are under a service type of business?
a. Customers have varied preferences.
b. Employees are prone to mistakes.
c. It is not harder as long as you are using technology.
d. Service type of business is easier to imitate.

7. If forming a corporation is very costly. You have the money. Still, you want to save, how will you plan
to minimize the cost?
a. Utilize the company’s resources
b. Hire a business consultant in this area
c. Look for potential investors
d. Borrow some money if you find better terms

8. Ms. Dela Cruz notices that her competitors have more customers compared to her. What must be done
before hiring a mystery shopper?

a. Check the laws in hiring a mystery shopper

b. Needs assessment report
c. Be strategic in how you schedule your mystery shopper
d. Cannot be determined

9. Customer-centered firms:
A. seek to create as many ‘just-satisfied’ customers as possible
B. continuously tell their customers how efficiently they are being served
C. balance the delivery of a high level of service to its customers within the constraints
set by their stakeholders
D. focus on measuring customer satisfaction and largely ignore competitors’
performance

10. This type of brand that the entire name of the business, which might be difficult to pronounce.
A. Lexical
B. Evocative
C. Acronym
D. Geographical
11. This process starts when applicants who qualify after preliminary screening are scheduled for the
preliminary interview and psychological testing conducted by the human resource department (HRD)

a. Controlling c. Recruitment
b. Placement d. Selection

12. The minds of entrepreneurs are rich with big ideas that can add value to their existing business.

A. Innovative
B. Discovery
C. Invention
D. Creativity

13. It simply states why a customer should buy a certain product or service.

A. Tagline
B. Value Proposition
C. Promo
D. Mission

14. This deals with the worker’s integrity and how he or she deals with his or her coworkers, bosses, and
customers.

A. Honesty
B. Norms
C. Work Policies
D. Work attitude

15. If sole proprietorship has a lower chance of increasing its market share, why is it our government still
promoting people to invest in SMEs (small and medium-sized enterprises)?
a. It is cheaper to form this type of business compared to other types.
b. It is a source of entrepreneur skills, innovation and employment.
c. There are no special legal restrictions, thus, easier to form.
d. It can help underemployed Filipinos in various sectors.

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16. Participants also need to provide suggestions and practical solutions on how to improve these
deficiencies.
A. Focus group discussion
B. Safety Test
C. Product Costing Test
D. Testing the product prototype
17. When does partnership work?
a.If both of them have capital
b. If both of them have skills
c.If both of them have the same direction
d.If both of them have the same values

18. Brand names have a combination of compound words, spelling, alliteration, and foreign words.
A. Lexical
B. Evocative
C. Acronym
D. Geographical

19. The element of the marketing mix is where product production and distribution channels are decided
and planned. 
A. Product
B. Price
C. Promotion
D. Place

20. A training program wherein an expert team member is assigned to assist a new employee in his or her
function.
A. Job Contracts
B. Headhunters
C. Work Experience
D. Buddy System

21. This type of applicants are the company employees who are considered for promotion to higher
positions.
a. External applicants c. Referral
b. Internal applicants d. Suitable applicants

22. It is a technique that uses external comparisons to better evaluate one's current performances and
identify possible actions for the future.
a. Operational plan c. Strategic plan
b. Benchmarking d. Business-level strategy

23. Which of the following are considered political elements of PESTLE?

a. Visa requirements and trading tariffs.
b. Weather and climate.
c. Currency inflation and interests’ rates.
d. Age and gender.

24. Which is not considered as tangible good?

 a. Cell phone c. Sack of rice
b. Mask d. Training Service

25.The difference between total customer value and total customer cost is:
A. satisfaction
B. value/price ratio
C. customer perceived value
D. total added value