Multiple Choice:
Identify the letter of the choice that best completes the statement or answers the
question.
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| 1. | Work performed beyond a 40-hour
work week in which an employee is usually paid 1-1/2 times his regular pay rate is
called? a. | bonus time | b. | profit
sharing | c. | overtime | d. | fringing | | | | | | | | |
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| 2. | Retail prices will rise when
demand: a. | Increases and supply increases | c. | Decreases and supply
increases | b. | Increases and supply decreases | d. | Decreases and supply
decreases | | | | |
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| 3. | The difference between total
assets and total liabilities is? a. | Net worth | c. | Operating margin | b. | Net profit | d. | Capitol gains | | | | |
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| 4. | The act of suggesting another
product that can replace the one sought and still fulfill the customers need is
called? a. | Substitute selling | c. | Good selling | b. | Suggestion selling | d. | Replacement selling | | | | |
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| 5. | A monthly record of purchase
charges and payments for a company is called its? a. | Annual
Statement | c. | Monthly Invoice Record Slip | b. | Monthly
Statement | d. | Quarterly Budget | | | | |
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| 6. | Extras provided by the
employer, such as paid vacations and sick leave are classified as? a. | Values | c. | Workers Bonuses | b. | Fringe
Benefits | d. | Profit Sharing | | | | |
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| 7. | An attempt to close the sale at
the earliest, most convenient point by making a closing statement is: a. | A trial close | c. | Feature/benefit statement | b. | A testimonial | d. | An objection | | | | |
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| 8. | What type of goals should be
developed in a marketing plan? a. | Competitors
goals | b. | Short term goals | c. | Long term goals | d. | Both Short term goals & Long term
goals | | |
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| 9. | A display should inform the
customer of the
of the product. a. | quantity | c. | main features and
benefits | b. | shelf life | d. | competing brands | | | | |
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| 10. | There are many different
methods to close a sale. This example is a
close. Mr. Smith would you like to pick up ten bags or have them delivered to your
business? a. | advantage/disadvantage | c. | objection | b. | premium | d. | choice | | | | |
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| 11. | Starting a business that
specializes in a product with little sales potential is foolish. Which of the following would be used
to determine sales potential (market) for your product? a. | Location of major cities | c. | Determining population of the area | b. | Visit potential competing businesses | d. | All of these are
correct | | | | |
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| 12. | When handling an angry
customer, you should: a. | Keep your voice calm and
matter-of-fact | b. | Let your words show that you what to be attentive and
helpful | c. | Listen carefully to the customer and dont
interrupt | d. | All of these are correct | | |
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| 13. | There are two principle types
of displays used by agribusiness firms - promotional and institutional. Which term describes a
promotional display? a. | Used to promote the business as a
whole | b. | Is designed to promote good-will in the community
| c. | Draws attention to products, supplies, or services for
sale | d. | Promotes a stores image as a part of the community
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| 14. | Constructing a display arranged
in steps, or graduations, is an example of: a. | Proportion
| b. | Balance | c. | Rhythm | d. | Contrast | | | | | | | | |
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| 15. | Personality is a. | The total of all your attitudes, habits, and feelings | b. | What people see when they look at you, what they hear when you speak, and what they
feel in your presence | c. | The total of all of your traits, and it
sets you apart from others | d. | All of these answers are
correct | | |
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| 16. | One question that you will need
to ask when determining the market potential for your business is: a. | Who are my customers? | b. | Where are my customers
located? | c. | What product should I provide? | d. | How can I create a demand for my products and services? | | |
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| 17. | What is any message to mass
media, which informs people about goods, services, or ideas and is paid for by an identified
sponsor? a. | Management | b. | Advertising | c. | Production | d. | Talking | | | | | | | | |
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| 18. | The faith and confidence that
causes customers to want to do business with a firm is a. | Public relations | b. | Goodwill | c. | Personal selling | d. | Advertising | | | | | | | | |
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| 19. | As a salesperson, what
dont you want to be? a. | A know it
all | b. | Too friendly | c. | Courteous | d. | Persistent | | | | | | | | |
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| 20. | Prestige advertising
stresses? a. | Character | b. | Efficiencies | c. | Happiness | d. | Loyalty | | | | | | | | |
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| 21. | Salespeople spend their time in
various ways. On average, which of the following accounts for the majority of the salespersons
time? a. | Administrative paperwork tasks | c. | Face-to-face
selling | b. | Service calls | d. | Waiting in offices and
traveling | | | | |
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| 22. | The law that states
as price increases, given that other factors are constant, the customer demand for the
product will decrease is referred to as: a. | The Robinson-Patman Act (1936) | c. | The law of diminishing
returns | b. | The law of supply and demand | d. | The Sherman Anti-Trust Act
(1890) | | | | |
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| 23. | Which quality does not improve
the appearance of business letters? a. | use of regular
margins | c. | regular spacing of words and lines | b. | use of ruled or lined paper | d. | use of white or letterhead
paper | | | | |
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| 24. | A rough draft: a. | is a preliminary version | c. | is not used by experienced writers | b. | is only prepared once | d. | is not made by memos | | | | |
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| 25. | ABC Farmers Coop will loan
local farmers money for production loans at 8%. If Farmer Jones borrows $7500 for 12 months, what
will be the total amount of interest added to the $7500 loan? a. | $7200 | b. | $1500 | c. | $900 | d. | $600 | e. | $300 | | | | | | | | | | |
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