RIF 03 Practice Exam 2024-2025

Front

After one negative experience, approximately what percentage of people say they will never do business with that company again?

Back

51

Front

After the selling step in the retail product cycle what happens next? Options: Packing, Picking, Markdowns, Selection

Back

Markdowns

Front

Which element can influence the customer loyalty life cycle? Options: Employees offering outstanding service, Competing retailors offering better prices products or services, Customers sharing positive customer service stories, Product quality exceeding expectations

Back

Competing retailors offering better prices products or services

Front

In retail what does it mean by product categories?

Back

Grouping similar types of products or services together

Front

What is an example of artificial intelligence (AI) used in the retail industry to enhance the shopping experience? Options: Voice-activated ordering and chatbots, Self parking cars, Smart home devices, Streaming podcasts

Back

Voice-activated ordering and chatbots

Front

A business owned by shareholders through publicly traded stock is known as what?

Back

A corporation

Front

What is an example of data mining?

Back

When customers receive personalized ads coupons and discounts based on previously made purchases.

Front

At a distribution center, what department is assigned to unloading the products from incoming pallets? Options: Outbound, Distribution, Tracking, Inbound

Back

Inbound

Front

Which of the following statements below are true? Options: Outside of the United States the retail industry is the largest private-sector employer, In the United States the retail industry is the largest private-sector employer, In the United States the retail industry is the largest government employer, Outside of the United States the retail industry is the largest government employer

Back

In the United States the retail industry is the largest private-sector employer

Front

What is it called when a retail business has central decision-making, has multiple store locations, and is owned by shareholders?

Back

A corporation