3.2 Knowledge Check

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

• $50 million
• $500 million
• $5 billion
• $50 billion

Choose the BEST answer. Three customers enter a store together. A sales associate saw them earlier in the week but none of them made a purchase. The sales associate would like to ensure that they are not shoplifting. Which of the following if the best approach for the sales associate to take in this situation?

• Kindly ask them to leave the store
• Contact a supervisor or loss prevention while avoiding direct contact with the customers
• Immediately call the police and keep an eye on them while they are in the store
• Greet them and offer to help them find what they are looking for

Which of the following does not cause inventory shrinkage?

• Product stolen by customers
• Products the retailer forgot to order
• Products stolen from the store by employees
• Products damaged in the store

These devices are specifically intended to be attached 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 primarily used 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 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 is NOT an example of employee fraud or theft?

• Intentionally pricing items incorrectly
• Giving away products to friends or family
• Chatting with coworkers when there is stocking to be done
• Taking a scheduled break

What percentage of shoplifting is employee theft?

• 20%
• 30%
• 40%
• 50%

This is a physical item that can be bought or sold

• Product

• Service

• Retail

• Object