Business and IT Skills Quiz

What is the primary goal of risk management in a business context?

• To eliminate all risks

• To identify, assess, and prioritise risks

• To increase financial gains

• To ensure legal compliance

Which of the following is a common financial analysis technique used to evaluate a company's performance?

• SWOT Analysis

• PESTLE Analysis

• Ratio Analysis

• Brainstorming

What is the purpose of legal compliance in business?

• To maximise profits

• To ensure adherence to laws and regulations

• To improve employee morale

• To enhance customer satisfaction

Which method is commonly used to gather data about consumer preferences and market trends?

• Market Segmentation

• Market Research Surveys

• Product Development

• Financial Auditing

Which decision-making model involves listing all possible options and evaluating them based on specific criteria?

• Intuitive Model

• Rational Model

• Incremental Model

• Garbage Can Model

What is a key component of effective business communication?

• Using complex jargon

• Active listening

• Speaking loudly

• Avoiding feedback

Which of the following is a risk management strategy that involves transferring risk to another party?

• Risk Avoidance

• Risk Retention

• Risk Transfer

• Risk Mitigation

In financial analysis, what does the term "liquidity" refer to?

• The profitability of a company

• The ability to meet short-term obligations

• The total assets of a company

• The market share of a company

Which legal document is essential for protecting intellectual property in business?

• A lease agreement

• A patent

• A sales contract

• A memorandum of understanding

What is the primary purpose of conducting a SWOT analysis in market research?

• To identify strengths, weaknesses, opportunities, and threats

• To calculate financial ratios

• To develop marketing strategies

• To assess legal compliance