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WorksheetsFM Review unit 1-2
Total questions: 78
Worksheet time: 39mins
Name
Class
Date
1.
Leather jackets were first popular among lower income groups and then gained acceptance from the higher income groups. Which fashion movement theory is illustrated?
a)
Horizontal flow
b)
Trickle across
c)
Trickle down
d)
Trickle-up
2.
A fashion expected to be a hot seller but which does not sell is a:
a)
Classic.
b)
Fad
c)
Flop
d)
Trend
3.
At the introduction stage of the fashion cycle, new styles are:
a)
Bargain priced to encourage quick sale.
b)
Produced in large quantities in anticipation of an immediate rush of sales.
c)
Purchased in large numbers by retail fashion buyers.
d)
Usually accepted by only a small number of fashion leaders.
4.
Good economic conditions:
a)
Accelerate fashion movement.
b)
Decelerate fashion movement.
c)
Have little effect on fashion acceptance.
d)
Result in consumers having less discretionary money.
5.
Fashion trends seem to recur every:
a)
10-20 years.
b)
20-30 years.
c)
30-40 years.
d)
40-50 years.
6.
At which stage of the fashion cycle is a style accepted and worn by the majority of consumers?
a)
Decline
b)
Introduction
c)
Peak
d)
Rise
7.
Which is true about the fashion cycle?
a)
Fads skip the rise and decline stages.
b)
Flops go through only the introduction stage.
c)
Only classics go through all five stages
d)
Styles that come into fashion rotate through all five stages.
8.
Short-lived fashions are:
a)
Classics.
b)
Designs.
c)
Fads.
d)
Flops.
9.
Celeste typically purchases fashions when the prices are most expensive. In which stage of the fashion cycle is she buying?
a)
Introduction
b)
Obsolescence
c)
Peak
d)
Rise
10.
During the rise stage of the fashion cycle:
a)
Consumers start to lose interest in the trends.
b)
Promotion is focused on closeout pricing.
c)
Retail fashion buyers order the items in quantity.
d)
The price of the fashion goes up because of the increased demand.
11.
Which would decelerate fashion movement?
a)
A higher percentage of citizens completing four years of college
b)
A strong economy and low rate of unemployment
c)
Development of new textile fibers and finishes
d)
Terrorist activity in the United States
12.
Reversals or abrupt changes in fashion styles are a result of:
a)
Fashion extremes.
b)
Flops.
c)
Knock-off designs.
d)
Seasonal fads.
13.
At which stage of the fashion cycle is a trend considered dull and boring because the market is saturated?
a)
Decline
b)
Introduction
c)
Obsolescence
d)
Rise
14.
Designs which are copied from more expensive garments are:
a)
Classics.
b)
Fads.
c)
Knock-offs.
d)
Staples.
15.
Fashion followers:
a)
Are the first to purchase and wear new styles.
b)
Like fashions that are unique and distinctive.
c)
Make most of their clothing purchases during the introduction stage.
d)
Wear a new style only after it is widely accepted.
16.
Jeans, once worn by laborers as a work garment and later adopted by teens as street wear, have now become popular among all ages and income levels. Which fashion movement theory is illustrated?
a)
Horizontal flow
b)
Trickle-across
c)
Trickle-down
d)
Trickle-up
17.
Fashion acceptance or rejection is determined by:
a)
Advertisers.
b)
Consumers.
c)
Designers.
d)
Retailers.
18.
At which stage of the fashion cycle does consumer interest grow and the fashion become accepted by more people?
a)
Decline stage
b)
Introduction stage
c)
Obsolescence stage
d)
Rise stage
19.
Which would MOST LIKELY accelerate the fashion movement?
a)
Angela’s promotion to a job with more administrative responsibility and higher pay
b)
Carla’s confirmation into a religious group that discourages personal adornment
c)
Government regulations that restrict the use of synthetic fibers in clothing
d)
Military conflict between the United States and China
20.
Cultural and religious customs, bad economic conditions, and government regulations are factors that:
a)
Accelerate fashion movement.
b)
End the fashion cycle.
c)
Have no effect on fashion.
d)
Slow down fashion movement.
21.
Represents another company to negotiate sales, purchases or both and does not take ownership of the goods
a)
Retailer
b)
Wholesaler
c)
Agent
d)
Manufacturer
22.
Nike wants their clothing to be more affordable and available to their customers. What would be their best distribution strategy?
a)
Intensive
b)
Exclusive
c)
Selective
d)
Direct
23.
Makes a finished good from raw materials and other components; also known as producer:
a)
Retailer
b)
Wholesaler
c)
Agent
d)
Manufacturer
24.
Aldos’ shoes may be found in only a few stores in addition to their online e-tailing store. What would be their best distribution strategy?
a)
Intensive
b)
Exclusive
c)
Selective
d)
Direct
25.
Which source is responsible for the highest percentage of inventory shrinkage?
a)
Administrative error
b)
Shoplifting
c)
Vendor fraud
d)
Employee theft
26.
A person or firm who resells goods to retailers is a:
a)
Retailer
b)
Wholesaler
c)
Agent
d)
Manufacturer
27.
Tiffany’s jewelry may only be found in its stores. What would be their best distribution strategy?
a)
Intensive
b)
Exclusive
c)
Selective
d)
Direct
28.
A manual or automated inventory accounting system where inventory is accounted for in a real-time basis is known as:
a)
Vendor-managed inventory
b)
Periodic inventory
c)
Perpetual inventory
d)
Inventory control
29.
You have been invited to a Tupperware party! This exchange of fabulous new Tupperware to individual consumers and hopefully you in return for money is known as:
a)
Indirect selling
b)
Direct selling
c)
Comparison shopping
d)
Complementary products
30.
The activity of purchasing only one category classification of merchandise, often done by chain store buyers is:
a)
Classification buying
b)
Departmental buying
c)
Specification buying
d)
Individual buying
31.
If the selling price of a dress is $50 and the cost of the garment was $20, what is the markup of this item?
a)
$20
b)
$30
c)
$40
d)
$50
32.
Which of the following types of plans is a plan that describes the types and quantities of merchandise to purchase for a department?
a)
Assortment plan
b)
Dollar merchandising plan
c)
Merchandise plan
d)
Buying plan
33.
Which of the following is NOT a source of internal information?
a)
Fashion forecasters
b)
Consumer polls
c)
Past sales records
d)
Customer feedback to salespeople
34.
These purchase large quantities of goods from manufacturers, store the goods, and sell small quantities to retailers:
a)
Importers
b)
Retailers
c)
Wholesalers
d)
Agents
35.
Which of the following is NOT a role of a retail buyer?
a)
Accurately forecast what merchandise will appeal to their customers
b)
Selecting and purchasing goods for their companies
c)
Estimate future demand for merchandise
d)
Advertise new products the store has in stock
36.
What is the smallest unit for which sales and stock are kept?
a)
UPC
b)
SKU
c)
POS
d)
OTB
37.
Ms. N bought a teal necklace at Target to accessorize her basic black dress. This necklace is considered a:
a)
Complementary product
b)
Necessary
product
c)
Specialty
product
d)
Convenience
product
38.
Belk buyers go visit showrooms every 3 months to select new merchandise for their stores. Each time they do this, the market usually lasts from a Tuesday-Sunday and buyers from all over the region are in the same area to buy merchandise. This several day period is known as
a)
Prime
buying time
b)
Market
week
c)
Market
month
d)
Fleet
week
39.
Why is it important to have a plan in mind when buyers go to market week?
a)
It
is important that they do not buy too much or too little.
b)
They
need to avoid buying an entire line in a “vacuum” without considering other
lines.
c)
They
have limited funds with which to buy and limited space in their store.
d)
All
of the above are true.
40.
Orders for merchandise to satisfy individual customers rather than for regular stock
a)
Special Order
b)
Re-Order
c)
Regular order
d)
Back Order
41.
Merchandise orders with a longer lead time before the delivery date.
a)
Re-Order
b)
Advanced Orders
c)
Special Order
d)
Back Order
42.
What are market centers?
a)
Concentrated areas where goods are produced, sold, and bought at wholesale prices
b)
A geographic area where buyers and sellers meet to exchange money for products and services
c)
The area in the middle of a market that usually hosts fashion shows
d)
Both A and B
43.
Which of the following is true about a line sheet?
a)
It includes the different color ways in which each item is available.
b)
It has a high quality photograph of the garment.
c)
It contains sales records of how each item has sold at market.
d)
It only includes the highlights of the best selling items in each collection.
44.
What is the growth of international commerce and communications that makes national boundaries less important?
a)
NAFTA
b)
World Trade Organization
c)
Globalization
d)
Industry Growth
45.
How much of the U.S Apparel and Textile industry is reliant on imports?
a)
All of our textiles are produced
domestically.
b)
60
%
c)
100%
d)
2%
46.
Ms. Traynor decides to form her own country called Traynorland. She does a lot of trade with the U.S., Canada, and Mexico but last year Traynorland imported a lot more items than they produced and exported to other countries. This is known as:
a)
Even Trade
b)
Trade Deficit
c)
Trade Surplus
d)
Bankruptcy
47.
Sometimes the U.S. dollar is in a really good place when considering the exchange rate and it is considered strong. Sometimes though, it is weak and the U.S. dollar is not worth as much as other currencies such as the euro or pound. When the U.S. dollar is weak, how does that affect the price of importing/exporting?
a)
It raises the price of U.S goods for other countries.
b)
It lowers the price of U.S. goods for other countries.
c)
It lowers the price of other countries’ goods imported to the U.S.
d)
It does not affect the pricing.
48.
What is a government’s policy of allowing goods to flow freely in and out of its economy?
a)
Free
trade
b)
Limited trade
c)
Protectionism
d)
Socialism
49.
Many of the apparel goods sold in the U.S. are produced in other countries and we import them here. If that happens too much, what can happen? Many of the apparel goods sold in the U.S. are produced in other countries and we import them here. If that happens too much, what can happen?
a)
It could threaten apparel goods that are produced domestically.
b)
It could lead to domestic manufacturers going out of business.
c)
It could mean lower prices for customers purchasing clothing that was made in another country.
d)
It could lead to all of these things.
50.
Target is placing an order for Merona scarves. They purchase the scarves for $4 apiece and sell them to customers for $12 apiece. What is the mark up?
a)
$12
b)
$4
c)
$8
d)
$2.50
51.
China produces a surplus of pink crop tops. In China, they are sold for a wholesale price of $10 but when China exports the crop tops, they are sold to the U.S. for a wholesale price of only $5. What is this concept called?
a)
Dumpster Diving
b)
Importing Deficit
c)
Markdowns
d)
Dumping
52.
Who is responsible for investigating imported consumer goods that may infringe on U.S. intellectual property rights?
a)
The
Internal Trade Commission
b)
The Federal Bureau of Investigation
c)
Mr. Bosco
d)
The Import/Export Police
53.
Colombia has the ability to produce apparel goods better than many other countries. This ability is known as:
a)
Trade Surplus
b)
Comparative Advantage
c)
Sweatshops
d)
Manufacturing Facility
54.
Which is a result of NAFTA?
a)
It set up an open trading zone for the
U.S., Canada, and Mexico
b)
Trade barriers have diminished, creating
a single North American market
c)
Both
A and B
d)
None of the above
55.
Merchandise orders that have not been filled within the time specified and have not been canceled by the buyer
a)
Regular order
b)
Special Order
c)
Advanced Order
d)
Back Order
56.
At Buffy’s Boutique, they usually sell 10 pairs of jeans per week. It takes about 3-4 days for new jeans to come in once they place their re-order so they normally re-order each time they get down to having 8 pairs of jeans in stock. In this case, the point where they get down to 8 pairs of jeans is known as:
a)
Back Order
b)
Reorder Point
c)
Market Week
d)
Special Order
57.
All of the following are benefits of attending fashion events such as market weeks EXCEPT
a)
Gaining a sense of the market
b)
Networking with other buyers
c)
This is the only time they can place orders for new merchandise
d)
Getting special terms and purchases including lower prices
58.
The difference between book-inventory and physical-inventory due to counting or recording errors, or resulting from pilferage, spoilage, theft, or wastage is:
a)
Physical inventory
b)
Shrinkage
c)
Vendor-managed inventory
d)
Periodic inventory
59.
Additional orders of the same merchandise as ordered previously
a)
Back Order
b)
Special Order
c)
Re-Order
d)
Advanced Order
60.
What is the open trading zone among the United States, Canada, andMexico?
a)
Multinational corporation
b)
North American Free Trade Agreement
c)
Import commission house
d)
World Trade Organization
61.
Australia is known for their high standard of living and relatively low costof doing business. Which aspect of global trade does this describe?
a)
Political stability
b)
Infrastructure
c)
Economic climate
d)
Globalization
62.
If the United States levies taxes on goods coming into it, which taxesare charged?
a)
Delivery fees
b)
Exemptions
c)
Quotas
d)
Tariffs
63.
Which aspect of global trade examines the relationship between acountry’s exports and imports and is usually expressed as a surplus ordeficit?
a)
Balance of trade
b)
Comparative advantage
c)
Economic climate
d)
Globalization
64.
Which aspect of global trade refers to a country’s purchasing power, standard of living, and relative cost of doing business?
a)
Balance of trade
b)
Comparative advantage
c)
Economic climate
d)
Globalization
65.
The United States and Switzerland share the production of a new high quality line of chocolates. This is an example of:
a)
full package production.
b)
joint venture.
c)
economy of scale.
d)
product life cycle.
66.
Melody works for a company that operates globally with direct investments in several different countries. Melody’s company representsa/an:
a)
import commission house.
b)
multinational corporation.
c)
joint venture.
d)
major trade region.
67.
What is the relationship between the values of a country’s imports andexports?
a)
Balance of trade
b)
Offshore production
c)
Protectionism
d)
Trade surplus
68.
Felisha wants to purchase a custom wedding dress. Which type of purchase order should be used?
a)
Approval buying
b)
Blanket order
c)
Open order
d)
Special order
69.
A shoe store manager realizes a new brand of snow boots are selling quickly due to rising popularity. In order to maintain current stock, the manager will order to maintain inventory. Which type of purchase order should be used?
a)
Advanced order
b)
Back order
c)
Regular order
d)
Reorder
70.
Deborah plans to only purchase Hunter rain boots over the next three years to sell in her boutique. She will provide the assortment of boots needed at a later time. Deborah is using which type of purchase order?
a)
Advance order
b)
Back order
c)
Blanket order
d)
Open order
71.
Saks Fifth Avenue ordered 500 dresses, but only 300 were delivered. Inorder to get the remaining 200, the manager should use which type ofpurchase order?
a)
Advance order
b)
Backorder
c)
Regular order
d)
Reorder
72.
Jim is an interior designer for a home furnishings store in the Southeast.He needs to purchase floor coverings for the upcoming season. Which domestic fashion market center should he visit?
a)
Atlanta
b)
California
c)
Miami
d)
New York
73.
Greens Store orders ‘Life is Good’ t-shirts every month. Which type of purchase order should they use for the upcoming month?
a)
Advance orders
b)
Backorders
c)
Regular order
d)
Reorders
74.
Mario’s Boots needs to order a shipment of popular cowboy boots, hats,and gear. It should order from which domestic fashion market?
a)
Dallas
b)
New York
c)
Atlanta
d)
Italy
75.
Which type of buying office is owned by a group of similar stores located in non-competing geographic locations?
a)
Associated offices
b)
Merchandise brokers
c)
Salaried offices
d)
Syndicated offices
76.
Molly is planning a trip to a regional apparel mart. She appreciates the options of visiting several vendors. Which is an advantage of attending a regional apparel mart?
a)
Few resident buying offices
b)
Lack of unusual items
c)
Numerous showrooms under one roof
d)
Limited special purchased goods
77.
A fashion merchandising class wants to plan a field trip to visit the headquarters of large retail chain stores. Which domestic fashion market should they plan to visit?
a)
Charlotte
b)
Chicago
c)
Denver
d)
Seattle
78.
Iris is responsible for planning and purchasing goods for a department store. Part of her responsibilities include keeping track of the economic trends and consumer behavior data. Iris’s job would best be described as:
a)
sales associate.
b)
visual merchandiser.
c)
buyer.
d)
manager.
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