Practice Exam OMIS

Ace is planning to run a craft or photography business out of his own home. What type of business is most suitable for him?

• Sole Proprietorship

• Partnership

• Corporation

A business should always seek to increase their market share

• True

• False

Which of the following variables are common marketing mix that marketing managers can control to best satisfy customers in the target market and increase market share? (Choose all that apply)

• Product

• Price

• Process

• Place

• Promotion

Which department deals with policies, plans, and procedures for the effective management of employees?

• Operations

• Finance

• Marketing

• MIS

• Human Resources

Which of the following department involves the application of people, technologies, and procedures to solve business problems?

• Operations

• Finance

• Marketing

• MIS

• Human Resources

What is data?

• Raw facts that describe the characteristics of an event or object.

• Facts converted into a meaningful and useful context.

• Information collected from multiple sources that analyzes patterns, trends, and relationships for strategic decision making.

• Skills, experience, and expertise, coupled with information and intelligence, that create a person's intellectual resources.

Which of the following is considered information?

• Quantity Sold

• Date Sold

• Product Sold

• Best selling item by month

What is Business Intelligence

• Raw facts that describe the characteristics of an event or object.

• Facts converted into a meaningful and useful context

• Information collected from multiple sources that analyzes patterns, trends, and relationships for strategic decision making.

• Skills, experience, and expertise, coupled with information and intelligence, that create a person's intellectual resources.

Which of the following provides an accurate definition of Systems Thinking?

• A way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part.

• A way of monitoring individual components including an input, the process, and an output, while continuously gathering feedback on the entire system.

• A way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on the entire system.

• A way of monitoring singular parts of a system by viewing a single input that is processed or transformed to produce an entire system that is continuously monitored to gather feedback on each individual part.

Which of the following represents the core drivers of the information age?

• data, information, business intelligence, knowledge.

• fact, data, intelligence, experience.

• fact, intelligence, business skills, knowledge.

• data, intelligence, business information, knowledge.