RIF 03 Practice Exam 2024-2025

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

• 13%
• 21%
• 51%
• 71%

After the selling step in the retail product cycle what happens next?

• Packing
• Picking
• Markdowns
• Selection

Which element can influence the customer loyalty life cycle?

• Employees offering outstanding service
• Competing retailors offering better prices products or services
• Customers sharing positive customer service stories
• Product quality exceeding expectations

In retail what does it mean by product categories?

• Grouping similar types of products or services together
• Sizes such as small medium large extra large
• Colors such as black white grey orange
• Centers like product shipping or fulfilment

What is an example of artificial intelligence (AI) used in the retail industry to enhance the shopping experience?

• Voice-activated ordering and chatbots
• Self parking cars
• Smart home devices
• Streaming podcasts

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

• A regional chain
• A corporation
• A brick and mortar
• Ecommerce

What is an example of data mining?

• When customers receive personalized ads coupons and discounts based on previously made purchases
• When customers receive buy one get one free
• When customers can access a retailer physically in a store or digitally on a website or application
• When customers are referred to a retailer by word of mouth from a family or friend

At a distribution center what department is assigned to unloading the products from incoming pallets?

• Outbound
• Distribution
• Tracking
• Inbound

Which of the following statements below are true?

• 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

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

• A brick and mortar
• A corporation
• A franchise location
• A private business