IC Test Preparation- Brian Gutierrez

An entrepreneur is a person who assumes the responsibility and risk of starting a business.

True or False?

• True

• False

Which two elements below of the sales process, goes after the sales pitch?

• Prospect

• Overcome objections

• Follow up

• Approach

Taking on business debt is a requirement for entrepreneurship.

True or false?

• True

• False

What is a risk of being an entrepreneur?

• Lack of financial resources

• Supply shortage

• Changing consumer trends

• Negative press/media coverage

Which two criteria are required for obtaining venture capital funding?

• Multiple business partners

• A scalable business model

• A profitable exit strategy

• Brand new technology

The design thinking process is highly focused on using secondary research to develop solutions to problems.

• True

• False

You need to start a customer loyalty program to reward and retain your current customers. Which two types of programs should you select?

• Points program

• Coupon code

• Annual sale

• Referral program

Who finds and invests resources to form the company and help it succeed?

• CFO

• Founder

• CEO

Which of the following expenses are a customer retention cost?

• Affiliate programs

• Engagement programs

• SEO Marketing

• Training programs

The design thinking process aims to develop a product based on the designer's needs.

• True

• False