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Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question. |
| | 1. | Objectives of marketing cooperatives include: | a. | Assure farmers dependable service | | b. | Maximize income from sale of member products | | c. | Provide information to farmers | | d. | All of these answers are correct. | | | | |
| | 2. | Marketing cooperatives try to maximize member’s income through/by: | a. | Adding value from processing cooperations | | b. | Reducing per unit marketing costs by handling large volumes | | c. | Elimination of all other competitors | | d. | Both adding value from processing cooperations and reducing per unit marketing costs by handling large volumes. | | | | |
| | 3. | Marketing cooperatives are owned by: | a. | Investors | | b. | Producers of farm products | | c. | Federal government | | d. | Manager and employees of the cooperative | | | | |
| | 4. | Bargaining cooperatives: | a. | Negotiate with farmers for products | | b. | Negotiate with processors on behalf of farmer-members | | c. | Negotiate for farm labor | | d. | All of these answers are correct. | | | | |
| | 5. | The most common sales method used by marketing cooperatives is: | a. | Auctions | c. | Buy-and-sell | | b. | Bargaining | d. | Road side stands | | | | | | |
| | 6. | Bargaining cooperatives negotiate for: | a. | Product grad and quality variations | c. | Delivery schedules | | b. | Product prices | d. | All of these answers are correct. | | | | | | |
| | 7. | An advantage of the buy-and-sell method is: | a. | The cooperative controls the marketing decisions | | b. | Farmers make their own decisions on when to sell their products | | c. | Farmers always sell at the markets high | | | | |
| | 8. | The agricultural commodity sector in U.S. where producers market the highest percentage of that commodity through cooperatives is the: | a. | Livestock sector | c. | Grain sector | | b. | Dairy sector | d. | Fruit and vegetable sector | | | | | | |
| | 9. | The agricultural commodity sector in U.S. where producers market the lowest percentage of that commodity through cooperatives is the: | a. | Livestock sector | c. | Grain sector | | b. | Dairy sector | d. | Fruit and vegetable sector | | | | | | |
| | 10. | What percentage of agricultural supplies do U.S. producers purchase through cooperatives: | a. | Less than 10% | c. | About 75% | | b. | About 25% | d. | Nearly 100% | | | | | | |
| | 11. | For U.S. agriculture, at the first handler level, cooperatives marketed what percentage of all agricultural products: | a. | Less than 10% | c. | About 75% | | b. | About 25% | d. | Nearly 100% | | | | | | |
| | 12. | In 1988, agricultural cooperatives in the US had total business volume of: | a. | Less than $1 million | c. | About $66 billion | | b. | About $190 million | d. | more than $500 billion | | | | | | |
| | 13. | All incorporated cooperatives issue stock: |
| | 14. | All cooperatives are incorporated under the Federal cooperative incorporation statutes: |
| | 15. | Control of the farmer cooperative is exercised by officials of State and Federal governments: |
| | 16. | Locked cooperatives: | a. | Provide services for a community, a county, or even several counties | | b. | Have individuals as members | | c. | All of these answers are correct. | | d. | None of these answers are correct. | | | | |
| | 17. | A “regional cooperative” is: | a. | The district operation which controls local cooperatives | | b. | A cooperative conducting business over a large area, often through a network of local units | | c. | An inaccurate name for a large company that does business with cooperatives | | d. | An association of local co-ops within a congressional district | | | | |
| | 18. | Interregional and national cooperatives are: | a. | Usually organized by a group of local cooperatives | | b. | Usually organized by two or more regional cooperatives | | c. | Usually organized directly by farmers | | d. | Organized and controlled by the government | | | | |
| | 19. | Centralized cooperatives are cooperatives: | a. | In which farmers hold direct membership | | b. | Which are owned by other cooperatives | | c. | Which are controlled by the Central Committee of planned economy countries | | d. | Located in the center of the US | | | | |
| | 20. | Federated cooperatives are cooperatives: | a. | In which farmers hold direct membership | | b. | Which are owned by other cooperatives | | c. | Operated by the Federal government | | d. | That operate the federated department stores | | | | |
| | 21. | Cooperative farming is: | a. | Rare in the United States | c. | Common among corn growers | | b. | Common in the United States | d. | Common among alfalfa producers | | | | | | |
| | 22. | The three most common types of farmer-owned cooperatives are: | a. | Purchasing, telephone, and credit unions | | b. | Marketing, grain elevators, and electric | | c. | Purchasing, marketing, and service | | d. | Purchasing, consumer, and health care | | | | |
| | 23. | Much of rural America has electricity through a member-owned cooperative: |
| | 24. | A cooperative in which the participants pool funds and borrow from each other is: | a. | The Farm Credit System | c. | Consumer cooperative | | b. | Credit Unions | d. | Grain marketing | | | | | | |
| | 25. | A cooperative in which the participants join to produce funds collectively from investors is: | a. | The Farm Credit System | c. | Consumer cooperatives | | b. | Credit Unions | d. | Grain marketing | | | | | | |
| | 26. | Consumer cooperatives: | a. | Sell to consumers out are owned by investors | | b. | Are formed and owned by consumers to purchase items | | c. | Are not allowed in the United States | | d. | Are grocery stores formed by farmers in cities | | | | |
| | 27. | Consumer cooperatives are more significant in Europe than in the US: |
| | 28. | In the US there are member-owned cooperatives that provide: | a. | Farm Insurance | c. | Telephone Service | | b. | Health Care | d. | All the answers | | | | | | |
| | 29. | Examples of products from cooperatives are: | a. | Sunkist oranges | c. | Land O’Lakes butter | | b. | Ocean Spray cranberry juice | d. | All the answers | | | | | | |
| | 30. | The approximate number of credit unions in the United States is: | a. | 1,000 | b. | 15,000 | c. | 150,000 | d. | 1,000,000 | | | | | | | | | | |
| | 31. | The National Council of Farmer Cooperatives (NCFC): | a. | Is a political voice for US farmer cooperatives | | b. | Is a National federation of cooperatives to market vegetables | | c. | Is a trade association that does voluntary overseas cooperative development | | d. | Is a USDA agency devoted to farmer cooperatives | | | | |
| | 32. | The American Farm Bureau Federation is a trade association for farmer cooperatives: |
| | 33. | Cooperatives have socialized banks to serve their finance needs: |
| | 34. | State cooperative councils: | a. | Regulate cooperatives within a state | | b. | Are statewide associations for cooperatives | | c. | Are cooperative advisor boards are set up by state governments | | d. | Have been outlawed in most states | | | | |
| | 35. | The Agricultural Cooperative Service: | a. | Is an agency of USDA which promotes knowledge of cooperative principles and practices | | b. | Is an organization owned by cooperatives to service local cooperatives | | c. | Is a division of the National Cooperative Business Association | | d. | Is a division of the National Bank for Cooperatives-Cobank | | | | |
| | 36. | Individually owner businesses, partnerships, investor-owned corporations, and cooperatives are all part of the US private enterprise system. |
| | 37. | Most businesses in the US are cooperatives: |
| | 38. | The Government agency that regulates the cooperatively owner Farm Credit System is: | a. | The National Credit Union Administration | | b. | The Farm Credit Administration | | c. | The US Department of Agriculture | | d. | The Rural Electric Administration | | | | |
| | 39. | Most cooperatives businesses are incorporated: |
| | 40. | In the US cooperatives are owned by: | a. | The general investing public | c. | The government | | b. | The users of the cooperative | d. | All of the answers | | | | | | |
| | 41. | Most State and Federal laws that pertain specifically to agricultural cooperatives specify that member business must be__ percent of total business: | a. | No more than 25% | c. | No more than 50% | | b. | At least 50% | d. | 100% | | | | | | |
| | 42. | The Sherman Anti-trust Act of 1890 made agricultural marketing cooperatives illegal: |
| | 43. | The first formal cooperatives in the United States was organized by: | a. | Benjamin Franklin | c. | George Washington | | b. | Harold Greene | d. | Samuel Somoers | | | | | | |
| | 44. | What is the title of the Federal law granting limited antitrust protection to farmer marketing cooperatives: | a. | Rural Electrification Act of 1936 | c. | The Capper-Volstead Act | | b. | Smith-Leaver Act of 1914 | d. | None of the answers | | | | | | |
| | 45. | Sowing bees, neighborhood barnraising, and cheese rings of the early 1800’s are all examples of informal cooperatives: |
| | 46. | Distinct business advantages of incorporated cooperatives include: | a. | Limited liability of individual members and indefinite existence | | b. | Economic service to members, not return on outsiders investments | | c. | Broader capital base than individuals have | | d. | All the answers | | e. | None of the answers | | | | |
| | 47. | Farmer cooperatives have tended to stabilize farm prices through: | a. | Enhanced competition | c. | Limiting their services only to members | | b. | Limiting imports of agriculture products | d. | Licensed inspection of agricultural products | | | | | | |
| | 48. | Agricultural cooperatives help increase farm income and provide indirect benefits: |
| | 49. | Agricultural cooperatives benefit: | a. | Farmers | c. | Consumer | | b. | Rural communities | d. | All the answers | | | | | | |
| | 50. | Cooperatives in the United States cannot have members in foreign countries: |