Unit 3.2 Knowledge Check - Retail

Shoplifting is a chronic, expensive problem in the retail industry. In 2016, shoplifting losses were around:

• $50 million

• $500 million

• $5 billion

• $50 billion

These devices are specifically intended to be attracted to clothing in order to prevent theft, and require a special tool to remove

• SKUs

• PLUs

• Non-electronic ink tags

• Electronic tags

These devices are used primarily to prevent the theft of high-priced items, particularly small ones.

• Display or fixture locks

• Non-electronic ink tags

• Electronic tags

• PLUs

If a POS system detects credit card or debit card fraud, what will it do?

• Sound an alarm

• Decline the transaction

• Process the transaction

• Place an automated call to security

What's the specific term for the situation in which a customer purchases a new item and then returns an old, damaged, similar item using the new item's receipt?

• receipt fraud

• switch fraud

• identity theft

• return fraud

Which of the following is NOT an example of employee fraud or theft?

• intentionally pricing items incorrectly

• giving products away to friends or family

• chatting with coworkers when there's stocking to be done

• taking a coffee break

What percent of shoplifting is due to employee theft?

• 20%

• 30%

• 40%

• 50%