RISE Up Retail Industry Fundamentals Practice Test

What's the term for reducing the price of an item in order to encourage sales?

• Net profit
• Margin
• Markup
• Markdown

Which of the following would NOT be a factor that affects which products a retailer chooses to select to offer in a store?

• Local customer preferences
• Manufacturer incentives
• Employee preferences
• The store's location

Which of the following terms best describes a grower of potatoes?

• Manufacturer
• Wholesaler
• Distribution Center
• Retailer

Which of the following is a term for intangible things such as providing delivery, that are sold by retailers?

• Gifts
• Training
• Services
• Products

Which of the following is the specific term that describes an injury caused by an item falling off a shelf and hitting a person?

• Accidental injury
• Negligence
• Struck-by injury
• Struck-against injury

Which of the following holds large quantities of product that are later sent either to retail locations or directly to customers?

• Manufacturer
• Wholesaler
• Distribution Center
• Retailer

Which of the following is NOT a step in the basic selling process?

• Making a connection
• Recite a product features
• Personalize service
• Assess needs

Which if the following is a SMART goal?

• I will improve my sales
• I will increase my monthly sales volume by 20% by the end of March
• I will increase my sales volume until me manager is happy with my performance
• I will increase my monthly sales volume every month

Which of the following is NOT an example of employee fraud or theft?

• Intentionally pricing items incorrectly.
• Giving products away to friends or family.
• Chatting with coworkers when there's stocking to be done.
• Taking a coffee break.

Which of the following is a standard term that describes the audience of retail stores-that is, the people who will buy things from the stores?

• Manufacturers
• Wholesalers
• Buyers
• Customers