WorksheetsFM Unit 2 Final Exam Review
Total questions: 46
Worksheet time: 4hrs 50mins
Name
Class
Date
1.
Which type of fashion retailer offers a high level of customer service, fashion-forward merchandise, and targets special-interest customers?
a)
Boutique
b)
Department store
c)
Discount store
d)
Flagship store
2.
Melody works for a company that operates globally with direct investments in several different countries. Melody’s company represents a/an:
a)
import commission house
b)
multinational corporation.
c)
joint venture.
d)
major trade region.
3.
A local boutique is planning for the prom season in six months. Which type of purchase order should be used?
a)
Advanced order
b)
Back order
c)
Regular order
d)
Reorder
4.
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
5.
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.
6.
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
7.
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
8.
HanesBrands undershirts can be found in stores such as Target, JCPenney, Macy’s, and Wal-Mart department stores. Which distribution strategy are they using?
a)
Exclusive
b)
Industrial
c)
Intensive
d)
Selective
9.
Sam supplies local boutiques with dressing room chairs and is able to answer questions about current trends in store layouts and furnishings. Sam is an example of which type of external data source?
a)
Trade information
b)
Vendor
c)
Comparison shopper
d)
Reporting consulting service
10.
Which responsibility is the role of a retail buyer?
a)
Designing visual displays for the upcoming season
b)
Selecting merchandise assortments that will best serve customers and earn a profit
c)
Assisting customers with product selection
d)
Supervising sales associates and assisting them in setting store goals
11.
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
12.
Due to its importing of more products than it exports, the United States:
a)
has a large trade deficit
b)
has a surplus of goods.
c)
has no trade deficit.
d)
takes advantage of child labor.
13.
What is the relationship between the values of a country’s imports and exports?
a)
Balance of trade
b)
Offshore production
c)
Protectionism
d)
Trade surplus
14.
In which cities are the major fashion centers for the United States located?
a)
Dallas, Los Angeles, and New York
b)
Raleigh, Miami, and Charleston
c)
San Francisco, Atlanta, and Chicago
d)
Winston-Salem, Burlington, and Dallas
15.
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
16.
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
17.
The United States exercises the right of levying a tariff to meet the expenditures of its imported goods, which is called a/an:
a)
export.
b)
sale.
c)
standard.
d)
tax.
18.
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
19.
Belk is a company that sells products to end users. Which type of intermediary is Belk?
a)
Consumer
b)
Manufacturer
c)
Retailer
d)
Wholesaler
20.
Which is an example of assortment depth?
a)
Alex’s Boutique carries many different types of men’s suits.
b)
A women’s boutique is known for its selection of accessories and clothing
c)
Bloomingdale’s department store offers many different types, brands, and price ranges of dresses.
d)
A fashion retailer carries many dresses in a large range of sizes and colors.
21.
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
22.
Saks Fifth Avenue ordered 500 dresses, but only 300 were delivered. In order to get the remaining 200, the manager should use which type of purchase order?
a)
Advance order
b)
Backorder
c)
Regular order
d)
Reorder
23.
Australia is known for their high standard of living and relatively low cost of doing business. Which aspect of global trade does this describe?
a)
Political stability
b)
Infrastructure
c)
Economic climate
d)
Globalization
24.
Amy purchases a cashmere sweater to give to her mother for Christmas. What is Amy’s role?
a)
Consumer
b)
Customer
c)
Producer
d)
Wholesaler
25.
Concord Mills shopping mall contains discount stores such as Bass and Manhattan Shirts. Since these stores are manufacturer-owned and operated, which type of retailer is available?
a)
Boutiques
b)
Department stores
c)
Factory outlets
d)
Franchises
26.
Which is an example of a manager of a retail store using internal data for merchandise planning?
a)
Reviews past sales records to see what merchandise sold the bes
b)
Calls vendors to get product information
c)
Uses information from trade associations for merchandise planning
d)
Hires resident buying offices to assist with merchandise planning
27.
The use of foreign workers in one or more countries to complete the manufacturing steps of goods that carry a producer’s label is which type of action?
a)
Counterfeiting
b)
Fashion industrialization
c)
Offshore production
d)
Protectionism
28.
What occurs when the imports of the United States exceed its exports?
a)
Balanced trade
b)
Free trade
c)
Trade deficit
d)
Trade surplus
29.
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
30.
The United States has a large trade deficit because of which of its actions?
a)
Allows free trade
b)
Charges high taxes on imports
c)
Exports more products than it imports
d)
Imports more products than it exports
31.
An establishment that individually buys the right to use a famous or established name or trademark in a specified trading is which type of retailer?
a)
Boutique
b)
Chain store
c)
Factory outlet
d)
Franchise
32.
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.
33.
To monitor the sometimes weak trade within the fashion industry due to apparel being made cheaper in other countries, some countries rely on:
a)
market disruption.
b)
protectionism.
c)
trade balance.
d)
free trade.
34.
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
35.
Tia and Lauren own a bridal boutique. They are assisting a bride with selecting a dress. Since they are able to provide her with personalized information and assistance, which type of internal data source is being used?
a)
Company merchandising bureaus
b)
Salespeople
c)
Sales records
d)
Want books
36.
Locally-owned stores with a limited assortment of apparel, housewares, gifts, and household textiles are which type of retailer?
a)
Discount stores
b)
Junior department stores
c)
Off-price discounters
d)
Wholesale warehouse clubs
37.
If the United States levies taxes on goods coming into it, which taxes are charged?
a)
Delivery fees
b)
Exemptions
c)
Quotas
d)
Tariffs
38.
Gross margin is calculated by total sales:
a)
plus the variable cost
b)
divided by variable cost.
c)
minus cost of goods sold
d)
multiplied by cost of goods sold.
39.
What is the open trading zone among the United States, Canada, and Mexico?
a)
Multinational corporation
b)
North American Free Trade Agreement
c)
Import commission house
d)
World Trade Organization
40.
Anthony promises a local manufacturer that he will purchase golf polos from only them. He will provide details regarding colors, sizes and quantity at a later date. Which type of purchase order should be used?
a)
Advance orders
b)
Back orders
c)
Blanket orders
d)
Open orders
41.
TOMS shoes are only available through the company’s e-tailing store and a few brick and mortar stores. Which distribution strategy is it using?
a)
Exclusive
b)
Intensive
c)
Regulated
d)
Selective
42.
What is the route products take from producer to end user?
a)
Apparel marts
b)
Channel of distribution
c)
Textile process
d)
Trade associations chain
43.
Elizabeth makes a log entry about a new brand of jeans that customers continue to request that are unavailable at the store. This describes which type of internal data source?
a)
Company merchandising bureaus
b)
Salespeople
c)
Sales records
d)
Want books
44.
Macy’s hires decorators to create window displays during the Christmas season. The decorators only decorate for large, upscale department stores. Which type of distribution strategy is being used?
a)
Exclusive
b)
Industrial
c)
Intensive
d)
Selective
45.
Everwood Studio photographs home interiors for use in home fashion magazines. Everwood is part of which fashion industry segment?
a)
Apparel manufacturing
b)
Auxiliary group
c)
Retail
d)
Textile
46.
Which aspect of global trade examines the relationship between a country’s exports and imports and is usually expressed as a surplus or deficit?
a)
Balance of trade
b)
Comparative advantage
c)
Economic climate
d)
Globalization
100 %
