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WorksheetsMKMS2-RetailCert- Final Exam Review
Total questions: 45
Worksheet time: 23mins
Which of the following is a term for physical goods that are bought and sold?
Sales
Products
Pricing
Services
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
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 terms best describes a grower of potatoes?
Manufacturer
Wholesaler
Distribution center
Retailer
The majority of retailers are:
Independently owned
Corporations
Franchises
Online only
Which of the following is the term for the retailing approach that places the focus on creating a seamless shopping experience for customers by integrating multiple channels?
Multichannel
Omnichannel
Integrated channel
Seamless channel
Approximately what percentage of U.S. jobs are retail jobs, as of 2019
5 - 10%
10 - 15%
20 - 25%
35 - 40%
What kinds of things does a manufacturer produce?
Raw materials
Fossil fuels
Services
Finished products
Which of the following hold large quantities of product tat are later sent either to retail locations or directly to customers?
Manufacturer
Wholesaler
Distribution center
Retailer
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
What's the term that describes distributing merchandise from the manufacturer to a retailer's locations?
Innovation
Allocation
Alleviation
Reimagination
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 is the term for the overall impression gathered from information that is seen, heard, and experienced by customers who encounter a business, its products and services?
Brand promise
Positive feeling
Company culture
Company brand
Which of the following best defines quality customer service?
Delivering a positive, memorable experience that is more than what the customer expected
Adhering to company policies when processing returns
Doing exactly what company procedures say to do
Offering free items to customers in order to keep them coming back
After one negative experience, approximately what percentage of people say they will never do business with that company again?
10%
20%
50%
75%
Which of the following is NOT a step in the basic selling process?
Make a connection
Recite product features
Personalize service
Assess needs
Which of the following describes a type of question that cannot reasonably be answered with "yes" or "no"?
A leading question
An open question
An open-ended question
A closed-ended question
Which of the following describes a type of question that is designed to elicit a "yes" or "no" answer?
A leading question
An open question
An open-ended question
A closed-ended question
Which term best describes hearing and understanding what a speaker is saying out loud and any messages suggested behind words?
Patient Listening
Foundational Listening
Active Listening
Passive Listening
Which of the following is the best way to demonstrate that you have understood a customer?
Restate and summarize their needs
Ask the customer to repeat what they said
Restate the customer's exact words
Ask the customer a follow-up question
Which of the following is an example of upselling?
"I also have this other laptop that has most of the same features as the one you're looking at, but at a lower price - it's on sale!"
"I'm sure you'll love those basketball sneakers. Do you also need any T-shirts or shorts?"
"I love the TV model you're looking at; let me show you a different model with similar features, for the same price, so you can see another brand."
"Would you like that as a meal? You can get fries, plus a medium drink, for an extra $2.00"
If a customer was about to purchase a soccer ball, which of the following would be the best item to try to cross-sell?
A basketball
Soccer shorts
A soccer goal frame and net
A baseball bat
A retailer's total inventory is:
All inventory a retailer has on order
All inventory available in the retailer's physical stores
All inventory owned by the retailer, regardless of its location
All inventory sold within the past year
Other than in the stockroom, where is a store's inventory kept?
At the distribution center
On the sales floor
At the manufacturer
In the office
The process of automatic or manual ordering to meet product demands is called:
Inventory replenishment
RFID
PLU
Excess inventory
The process of placing inventory on sales floor shelves, racks or other displays to be sold is called:
Back stock
Out-of-stock
Stocking
Excess inventory
Extra inventory kept on hand in case customers buy more than the company estimated before the next shipment arrives:
Back stock
Out-of-stock
Stocking
Excess inventory
When products arrive at a physical store, the process used to enter it into the store's on-hand inventory called:
Stocking
Inventory replenishment
Receiving
Inventory tracking
Juliana is stocking shampoo on the sales floor. She finds a bottle that has a hole and is leaking shampoo, and throws it out. She continues stocking and moves on with her day. Which of the following would then be true?
The inventory system's numbers would still be accurate
The number of shampoo bottles in the inventory system would be too high
The number of shampoo bottles in the inventory system would be too low
The inventory would need to be counted manually
Shoplifting is a chronic, expensive problem in the retail industry. In 2016, shoplifting losses were around:
$50 million
$500 million
$5 billion
$50 billion
These devices are specifically intended to be attached to clothing in order to prevent theft, and require a special tool to remove.
SKUs
PLUs
Non-electronic ink-tags
Electronic tags
These devices are used primarily to prevent theft of high-priced items, particularly small one.
SKUs
PLUs
Non-electronic ink-tags
Electronic tags
If a POS system detects credit card or debit card fraud, what will it do?
Sound an alarm
Decline the transaction
Process the transaction
Place an automated call to security
What's the specific term for the situation in which a customer purchases a new item and then returns an old, damaged, similar item using the new item's receipt?
Receipt fraud
Switch fraud
identity fraud
Return fraud
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 co-workers when there's stocking to be done
Taking a coffee break
Which agency or law protects employees against hazards in the workplace?
ADA
OSHA
FMLA
FDIC
Which agency or law protects employees who report unlawful or unsafe practices?
Whistleblower Protection Act
Americans with Disabilities Act
Family and Medical Leave Act
Unsafe Practices Act
Which of the following is a proper lifting technique?
Lift close to your body
Keep your feet close together
Lift with your back
If you're straining, bend your knees
If you see a spill of food or liquid on the sales floor, what's the first thing you should do?
Call for a custodian or maintenance person to clean it up
Find a mop or broom and clean it up yourself
Find out who was responsible for causing the spill
Stand near or over the spill to direct traffic away from it until it can be cleaned up
Which of the following is the specific term that describes an inquiry 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 refers to the total amount of money that a retailer brings in?
Profit
Revenue
Cost of Goods Sold
Operating costs
Which of the following refers to the amount of money that a retailer makes after accounting for expenses?
Profit
Revenue
Cost of Goods Sold
Operating costs
Which of the following refers to the difference between revenue and cost of goods sold?
Net profit
Gross profit
Profit margin
Profit margin percentage
Which of the following refers to the difference between revenue and all expenses, including the cost of goods sold and operating expenses?
Net profit
Gross profit
Profit margin
Profit margin percentage
What's the term for reducing the price of an item in order to encourage sales?
Net profit
Margin
Markup
Markdown
