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WorksheetsIBT Final Exam Cumulative Review-S2
Total questions: 45
Worksheet time: 23mins
Supervisors are the _____ level of management.
first
second
third
This type of influence arises when employees recognize that the leader has special knowledge or ability in a specific area:
Position
Identity
Expert
Reward
Which of the following is a management style that is effective when a group of employees is experienced and works well together?
Strategic
Tactical
Mixed
Student leaders fall into which category of influence?
Formal
Informal
Position
Identity
Identify an example of an executive:
Customer Service Manager
Sales Director
Vice President
Restaurant Manager
A blue-collar worker has a job where the work is more mental than physical.
TRUE
FALSE
Having the ambition and motivation to get work done without being asked describes which leadership characteristic?
Taking the initiative
Having intelligence
Being stable
Having confidence
Which benefit allows employees the ability to choose their work hours?
Family Leave
Flextime
Flexplace
Personal Time
What type of tax would I pay if I gave my mom $1 million?
Gift tax
Sales tax
Excise tax
Income tax
The assignment of an employee to another job in the company with a similar level of responsibility is called a job:
Promotion
Termination
Discharge
Transfer
Which law requires that employers pay at least minimum wage to employees?
The Civil Rights Act of 1964
The Fair Labor Standards Act
The Equal Pay Act
The Pay Discrimination Act
To cut costs, Allen & Associates removed its customer service department and sent the operation to another company that can do it for cheaper. This is an example of Allen & Associates doing what to its customer service department?
Terminating
Expanding
Downsizing
Outsourcing
Identify all of the components of the selling price formula (hint: select 3 answers).
Product Costs
Operating Expenses
Profit
Revenue
Which is an example of mass promotion?
Advertising
Telephone Sales Calls
Personal Selling
All are examples of mass promotion
Jane typically sells products grown on her farm at the local Famer's Market. This is an example of which form of distribution?
Indirect
Direct
Wholesale
Consumer
Jess works as a Mary Kay Consultant. Her job is to communicate with individual clients to assess their makeup and skin care needs. What type of marketing does this describe?
Public Relations
Sales Promotion
Publicity
Personal Selling
People are typically willing to pay higher prices for products/services that have few close competitors. This describes which pricing factor?
Season
Age
Uniqueness
Convenience
Complexity
Which type of retirement plan is offered by a non-profit company?
401K
403B
This provides money to retired workers; minor children, and disabled people.
Social Security
Disability
Identify examples of a for-profit company (hint: select 2 answers).
Church of Allen
Amazon
McDonald's
Allen Credit Union
A specific group of consumers who have similar wants and needs is called:
Personal Seller
Target Market
Internal Customer
Marketer
A tax based on the value of items such as cars, boats, and trucks is called:
Personal property tax
Income tax
Excise tax
Inheritance tax
Identify the central bank of the United States:
Department of Education
The White House
Internal Revenue Service
The Federal Reserve
The difference between your personal assets and your personal liabilities is your:
Net Worth
Gross Income
Net Income
Variance
Items of value are called:
liabilities
assets
The FDIC insures accounts at commercial banks up to how much?
$100,000
$150,000
$200,000
$250,000
Which type of endorsement allows you to transfer a check (where you are the payee) to someone else?
Restrictive
Blank
Full / Special
Financial protection to a family when the insured passes away is called:
Life Insurance
Health Insurance
Who is the DRAWEE on a check?
The owner of the account
The bank that pays the check
The person the check is written to
The person who signs the check
If a covered person experiences a loss, they must first pay a _______ before the insurance pays its portion.
Deductible
Insurance
Claim
Premium
What is an insurance claim?
The monthly fee for insurance paid by a policyholder
The type of risk taken by the insurance company
The type of insurance a policyholder can purchase
A policyholder’s request to pay for a loss covered by an insurance policy
The person named in a life insurance policy to receive benefits upon the death of the policyholder is called the:
Insured
Payee
Beneficiary
Policyholder
Identify all elements of the marketing mix (hint: select 4 answers).
Promotion
Price
Premium
Product
Place
This is considered to be the way people get along with each other:
Influence
Management
Communication
Human Relations
If an employee receives a specific amount of money for each unit produced, they are receiving what type of pay?
Salary
Hourly wage
Piece Rate
Commission
Which auto coverage helps pay for damage that YOU cause to another person's vehicle?
Collision
Comprehensive
PIP
Liability
Which auto coverage protects you from damage to your car caused by theft?
PIP
Comprehensive
Liability
Collision
Anna took out a $20,000 life insurance policy. The $20,000 is called the (hint: select 2 answers):
Cash Value
Death Benefit
Face Value
Policy Benefit
Identify how people can deal with risk (hint: select 4 answers).
Hide
Ignore
Transfer
Reduce
Avoid
Which of the following is NOT good advice for someone preparing for a job interview?
Prepare questions to ask during the interview
Take several friends for moral support
Be on time
Dress professionally
Which management function involves analyzing information, setting goals, and making decisions about what needs to be done?
Staffing
Planning
Organizing
Implementing
What is considered a fixed expense in a budget?
Birthday gift
Gas (car)
Groceries
Rent
Identify the type of insurance needed: Jasmine breaks her leg in a car accident and will be out of work for 6 months.
Health and Disability
Auto and Life
Life and Health
Disability and Renter's
What is a deductible?
Monthly fee paid by the insured to have insurance
Amount paid by the insured before insurance kicks in
Small amount paid at the time of service
Yearly fee paid by the insured to have insurance
Skateboarding, driving, and eating junk food fall into which category?
Risk that comes with action
Risk that comes with lack of action
Risks you know about but don't think will happen
Risks that will get you hurt
