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WorksheetsRetail Fundamentals Review
Total questions: 76
Worksheet time: 38mins
Which item is considered a retail product?
Air Conditioner Repair
New Air Conditioner
Extended Warranty on an Air Conditioner
The period of time an item remains useable, or fit for consumption
Stock
Rotten
Shelf Life
A large facility that manufacturers send large quantities of product to then distributed to stores.
Garage
Storage Warehouse
Distribution Center
When distribution team members use replenishment reports to retrieve quantities of items to be sent to store are.
Stocking
Picking
Sending
Who is responsible for making sure the safety exits aren't blocked and are free to be used in an emergency.
OSHA Officer
Police Officer
Retail Employee
A customer makes a purchase and their transaction total is $21.47. The customer pays with $50.00 in cash. How much change should they receive?
$28.53
$30.52
$19.25
What organization oversees and controls workplace safety regulations?
OSHA
FSLA
SOTP
What does the "R" in SMART Goal Setting stand for?
Retail-Orientated
Results-Oriented
Restart
Which functional area in a retail store usually manages the on-site revenue generation, administration, and reports on the center's expenses?
Warehouse Management
Marketing
Finance
Where are you most likely to find your company's policies and procedures?
In an employee handbook
In the breakroom
In your managers office
Which of the following is a term for physical goods that are bought and sold?
Sales
Products
Services
Which of the following is a standard term that describes the audience of retail stores-the people who will buy things from the stores?
Customers
Buyers
Wholesalers
Which of the following is a term for intangible things, such as providing delivery, that are sold by retailers?
Services
Products
Gifts
Which of the following terms best describes a grower of potatoes?
Manufacturer
Wholesaler
Retailer
The majority of retailers are:
Corportations
Independently Owned
Franchise
Which of the following is the term for the retailing approach that places the focus of creating a seamless shopping experience for customers by integrating multiple channels?
Omnichannel
Multichannel
Seamless Channel
Approximately what percentage of U.S. jobs are retail jobs as of 2019?
5-10%
10-15%
20-25%
What kinds of things does a manufacturer produce?
Finished Products
Services
Raw Materials
Which of the following holds large quantities of product that are later sent either to retail locations or directly to customers?
Manufacturer
Wholesaler
Distribution Center
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
Employee preferences
Manufacturer incentives
What is the term that describes distributing merchandise from the manufacturer to a retailer's locations?
Allocation
Alleviation
Innovation
What is the term for reducing the price of an item in order to encourage sales?
Net Profit
Margin
Markdown
Which of the following is the term for the overall impression gathered from information that is seen, heard or experience by customers who encounter a business, its products and services?
Brand Promise
Company Brand
Company Culture
Which of the following best defines quality customer service?
Delivering a positive, memorable experience that is more than what the customer expected.
Doing exactly what company procedures say to do.
Offering free items to customers in order to keep them coming back.
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-ended question
A close-ended question
Which term best describes hearing and understanding what a speaker is saying out loud and any message suggested behind the words?
Patient 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
Which of the following is an example of upselling?
"I also have this laptop that has most of the same features as the one you're looking at, but at a lower price."
"I'm sure you'll love those basketball sneakers. Do you also need any t-shirts or shorts?"
"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 baseball bat
When inventory is ordered to replace products that have sold, this is called_______.
Inventory Replenishment
Barcode
Excess Inventory
If inventory has been sold and there is none in the stockroom to fill the shelf, the item is_________
Out of Stock
Shrink
Sell
If a stockroom area is overflowing with inventory that will not fit on the sales floor, the product may be referred to as___________.
Inventory Replenishment
Excess Inventory
Shrink
On hand inventory is the number of units of a specific item that are available to_______.
Receive
Sell
Markdown
A machine readable series of parallel lines that combine to create a unique product identifier is a__________.
Barcode
Scan
Shrink
________is the process of matching the invoiced quantity to actual products delivered.
Point of Sale
Receiving
Shrinkage
When there are fewer items in stock than the expected total inventory, this is called______.
Shrinkage
Receiving
Markdown
Cash registers, scanners, and card readers are a part of the __________system.
Point of Sale
Markdown
Scan
A retailer's total inventory is________.
All inventory a retailer has on order.
All inventory available in the retailer's physical store.
All inventory owned by the retailer, regardless of its location.
Other than in the stockroom, where is a store's inventory kept?
At the distribution center
On the sales floor
At the manufacturer
The process of automatic or manual ordering to meet product demands is called____.
Inventory Replenishment
RFID
Excess Inventory
The process of placing inventory on the sales floor shelves, racks, or other displays to be sold is called_______.
Stocking
Out of Stock
Back Stock
Extra inventory kept on hand in case customers buy more than the company estimated before the next shipment arrives?
Excess Inventory
Back Stock
Out of Stock
When products arrive at a physical store, the process used to enter into the store's on hand inventory is called_____.
Stocking
Inventory Tracking
Receiving
Julia is stocking shampoo on the sales floor and finds a bottle that is leaking. She throws it out and continues to stock on move on with her day. Which of the following would then be true?
The inventory system's numbers will be accurate.
The number of shampoo bottles in the inventory system would be too high.
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 Billion
500 Million
5 Billion
These devices are specifically intended to be attached to clothing in order to prevent theft, and require a special tool to remove_____.
SKU's
Electronic Tags
Non Electric Ink Tags
These devices are used primarily to prevent the theft of high priced items, particularly small ones.
Display or fixture locks
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
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?
Switch Fraud
Identity Theft
Receipt Fraud
Which of the following is NOT an example of employee fraud or theft?
Taking a coffee break
Chatting with coworkers when there's stocking to be done
Giving products away to friends
What percent of shoplifting is due to employee theft?
20%
40%
30%
What is the first thing you should do if someone spills a cup of coffee on the sales floor?
Stand near or over the spill to direct traffic away from it until it can be cleaned up
Call for a custodian or maintenance person to clean it up
Find a mop and clean it up yourself
What is the first thing you should do if you find broken glass on the sales floor?
Use your foot to move the glass underneath a fixture
Carefully pick up the pieces of glass and throw them away
Stand near or over the glass to direct traffic away from it until it can be cleaned up
What should you do if a shopper topples a display into the aisle?
Call for a custodian or merchandising person to clean it up
Pick up the merchandise and recreate the display yourself
Check on the shopper to be sure she is unharmed, then direct traffic away from the scene until it can be cleaned up
What should you do if you discover an electrical hazard?
Make temporary repairs as best you can; use maintenance guidelines
Secure the area and report the situation to management for repair by an electrician or qualified custodian
Nothing. Maintenance is surely aware of the problem
Which agency or law protects employees against hazards in the workplace
ADA
OSHA
FMLA
Which agency or law protects employees who report unlawful or unsafe practices?
Whistleblower Protection Act
Family & Medical Leave Act
Unsafe Practices Act
Which of the following is a proper lifting technique?
Bend at the knees
Lift with your back
Keep your feet close together
If you see a spill of food or liquid on the sales floor, what’s the first thing you should do?
Stand near or over the spill to direct traffic away from it until it can be cleaned up
Find out who was responsible for causing the spill
Call for a custodian or maintenance person to clean it up
Which of the following is the specific term that describes an injury caused by an item falling off a shelf and hitting a person?
Accidental Injury
Stuck 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
Which of the following refers to the amount of money that a retailer makes after accounting for expenses?
Profit
Revenue
Operating Costs
Which of the following refers to the difference between revenue and cost of goods sold?
Gross Profit
Net Profit
Profit Margin
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
What’s the term for reducing the price of an item in order to encourage sales?
Markdown
Margin
Net Profit
If a business’ revenue is $1,150 and its cost of goods sold is $734, what is the business’ gross profit?
$416
$516
$1,884
If a business’ gross profit is $100 and its revenue is $500, what is the business’ profit margin percentage?
20%
100%
25%
Which of the following is NOT a concept that helps you manage your time effectively?
Organizing
Procrastinating
Focusing
Part of effective time management is prioritizing tasks. Which of the following is NOT a code that you would use when setting priorities?
Do
Delegate
Designate
Suppose that Bill & Joanne are sales associates at a retailer. Bill says to Joanne: “I’m not getting to work the shifts I want - I can’t believe that Alexis only gave me 6 hours this week. I don’t even think I can make my rent this month if this doesn’t change.” What’s the problem that Bill is facing?
He doesn’t like the times when he works
He isn’t getting assigned enough hours and worries about the financial consequences of having a lighter schedule than he expected
He wants to work in a different part of the store
Which of the following is a SMART goal?
I will improve my sales
I will increase my monthly sales volume by 20% by the end of March
I will increase my sales volume until my manager is happy with my performance
What’s the term for a very brief speech that you can use to sell yourself to people you meet?
A job post
An elevator pitch
A keynote speech
If you have a job interview scheduled for 1:00PM, when’s the best time to arrive at the store where you’re being interviewed?
12:45 P.M.
12:30 P.M.
1:00 P.M.
What’s the standard method to use to thank an interviewer after the interview?
Via Email
Via text message
Via phone call
Which of the following comments would be inappropriate in a social media post?
Retail friends: I’m looking for a sales associate position, so if you know anyone feel free to mention me
Joe, send me your demo reel and I’ll talk to my producer friend about you.
Quit my job today! No more being exploited and unappreciated!
