WorksheetsIntro to Entrepreneurship and FAFSA
Total questions: 42
Worksheet time: 23mins
6) According to the textbook, entrepreneurs are ________.
A) gamblers
B) moderate risk takers
C) aggressive risk takers
E) minimal risk takers
5) Which of the following is NOT one of the five common myths about entrepreneurs?
A) Entrepreneurs are tenacious.
B) Entrepreneurs are moderate risk takers.
C) Entrepreneurs should be young and energetic.
D) Entrepreneurs love the spotlight.
3) Coasta Wills, who is at heart a craftsperson, recently started a firm to manufacture a new innovative food blender. Coasta's desire is to sell her food blender to as many people as possible because she firmly believes in the merits of her product. Coasta's story best illustrates which of the following characteristics, or attributes, of a successful entrepreneur?
A) Product/customer focus
B) Execution intelligence
C) Tenacity despite failure
E) A desire to gain financial rewards
9) Entrepreneurial firms ________.
A) are small firms that yield a level of income for their owner(s) that is similar to what they would earn when working for an employer
B) bring to market new products and services that are not particularly innovative
D) provide their owner(s) the opportunity to pursue a particular lifestyle and earn a living while doing so
E) bring new products and services to market by creating and seizing opportunities
13) ________ is the process of creating something new, which is central to the entrepreneurial process.
A) Modernism
B) Innovation
C) Execution
D) Creativity
8) The three primary reasons that people become entrepreneurs and start their own firms are to ________.
A) gain prestige, realize financial rewards, and eliminate risk in their lives
B) do what they were "born" to do, be their own boss, and gain prestige
C) take big risks, be their own boss, and do what they were "born" to do
D) be their own boss, pursue their own ideas, and pursue financial rewards
Which of the following is NOT a core characteristic of most entrepreneurs?
Risk-taker
Selfish
Confident
Independent
The internet is a great tool for starting and running a business.
True
False
The process of identifying an opportunity then setting up and running a business to address that opportunity.
Entrepreneurship
Responsibility
Entrepreneurs create ____________________ for themselves and others.
wealth
risk
plans
none of these
Entrepreneurship is a process of actions of an entrepreneur who is always in search of opportunities.
TRUE
FALSE
Which of the statements below is true?
Entrepreneur has limited career opportunities
Entrepreneurs are prone to constant high income
Entrepreneurs are contributor to the development of the society
Entrepreneurs are the reasons for unemployment problem
Which of the statement is NOT true?
An entrepreneur will patiently wait for his efforts to bear fruit.
The profit of the entrepreneur is immediate
All entrepreneurs are successful
Entrepreneurs are researchers
The entrepreneurs who create new ideas are called?
Innovative
Imitating
Fabian
Drone
The greatest significance of entrepreneurship is to help identify and develop the managerial capabilities of entrepreneurs.
TRUE
FALSE
Entrepreneurship is not an economic activity.
TRUE
FALSE
Which of the following is NOT a function of an entrepreneur?
Skills management
Risk taking
Conduct research
Make no changes with his product
Which of the following is NOT a function of an entrepreneur?
Skills management
Risk taking
Conduct research
Make no changes with his product
It is a personality factor which means “doing things even before being told”
Proactive
Perseverance
Persuasion
Initiative
This is one components of qualities of an entrepreneurship does things before being asked
Perseverance
Perseverance
Initiative
Problem-solver
This is one components of qualities of an entrepreneurship Makes decisions and sticks to his decisions
Self-critical
A planner
Risk-taker
Self-confidence
They are those who can go to client site, identify problems and fix them. They assess and create solutions to help the company more efficiently meet its goal.
Sales Manager
Business Consultant.
Research and Development Director
Fundraiser
What does the acronym FAFSA mean?
Financial Application for Free Student Assistance
Free Assistance for Fast Student Approval
Free Application for Federal Student Aid
Formal Application for Federal Student Assistance
Does it cost money to file the FAFSA?
Yes
Only if you fill it out after January 1st
No
Only if your college requires a fee
Filling out the FAFSA qualifies you for...(check all that apply)
federal grants
work study opportunities
merit-based scholarships
federal loans
private loans
The FAFSA becomes available starting...
January 1
March 2
May 1
October 1
Which one of these things do you NOT need to fill out the FAFSA?
Birth certificate (or proof of U.S. citizenship)
Tax information from parent(s)
Parent and student FSA IDs
Your Social Security Number
True or False? Males between the ages of 18-25 must be registered for the Selective Service (draft) in order to complete the FAFSA.
True
False
True or False? The FAFSA will only help you get federal financial aid, not state or college-based financial aid.
True
False
The formula colleges use to determine your financial aid package is:
Cost of attendance minus local scholarships you get
Expected family contribution minus local scholarships you get
Expected family contribution plus your personal contribution
Cost of attendance minus expected family contribution
You file the FAFSA once over the course of your college career.
True, you only file once.
False, file every year.
Most need-based aid is awarded on a first-come, first-served basis so it is best to file the FAFSA as soon as possible.
True
False
What does EFC stand for?
Education Fund Contribution
Expected Family Contribution
Education Family Contribution
None of the above
What does SAR stand for?
Standard Aid Report
Student Aid Ratio
Student Aid Report
None of the above
Document that gives basic information on eligibility for FASFA
FAFSA
FSA
EFC
SAR
Deadline to complete FAFSA is...
October 1
May 1
March 2
January 1
Parents residency status doesn’t affect student eligibility for
financial aid money
True
False
