wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Business of Retail Practice 3

Total questions: 92

Worksheet time: 54mins

Name
Class
Date
1.

Which of the following is a term for physical goods that are bought and sold? (1.1)

a)

Sales

b)

Products

c)

Pricing

d)

Services

2.

Which of the following is a standard term that descries the audience of retail stores - that is, the people who will buy things from the stores? (1.1)

a)

Manufacturers

b)

Wholesalers

c)

Buyers

d)

Customers

3.

Which of the following is a term for intangible things, such as providing delivery, that are sold by retailers? (1.1)

a)

Gifts

b)

Training

c)

Services

d)

Products

4.

What kinds of things does a manufacturer produce? (1.1)

a)

Raw material

b)

Fossil fuels

c)

Services

d)

Finished products

5.

Which of the following describes a grower of strawberries? (1.1)

a)

Manufacturer

b)

Wholesaler

c)

Distribution center

d)

Retailer

6.

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? (1.1)

a)

Multichannel

b)

Omnichannel

c)

Integrated channel

d)

Seamless channel

7.

The majority of retailers are:

(1.1)

a)

Independently owned

b)

Corporations

c)

Franchises

d)

Online only

8.

Which of the following is the standard definition of a retail ecosystem? (1.1)

a)

An interconnected system of approaches for meeting the goal of retailing, which is to provide customers with the merchandise and services they want

b)

A group of stores that work together collaboratively to serve customers' needs

c)

A team of store employees who help each other

d)

A set of technological systems that work together in order to make sure all products in a retailer's inventory are tracked and accounted for

9.

Approximately what percentage of U.S. jobs are retail jobs, as of 2019? (1.1)

a)

5 - 10%

b)

10 - 15%

c)

20 - 25%

d)

35 - 40%

10.

What term describes delivering a positive, memorable experience that is more than what the customer expected? (1.1)

a)

Customer service

b)

Quality customer service

c)

Service

d)

Sales

11.

Other than in the stockroom where is a store's inventory kept? (1.2)

a)

At the distribution center

b)

On the sales floor

c)

At the manufacturer

d)

In the office

12.

A retailer's total inventory is:

(1.2)

a)

All inventory a retailer has on order

b)

All inventory available in the retailer's physical stores

c)

All inventory owned by the retailer, regardless of its location

d)

All inventory sold within the past year

13.

A retailer's profit is:

(1.2)

a)

The amount a company spends

b)

The amount the company makes in sales

c)

The amount the company owes

d)

The amount the company gets to keep, after expenses

14.

A customer has $300 to spend on a gift and is considering buying either a product at Best Buy or a product at Brooks Brothers. What type of competitive relationship exists between the two retailers in the situation? (1.2)

a)

Direct competitors

b)

Indirect competitors

c)

Replacement competitors

d)

Rival competitors

15.

A customer is hungry and can't decide whether to get a roast beef sandwich at Arby's or pick up Chinese food at Panda Express. Wha type of competitive relationship exists between the two retailers in this situation? (1.2)

a)

Direct competitors

b)

Indirect competitors

c)

Replacement competitors

d)

Rival competitors

16.

This is extra inventory kept on hand in case customers buy more than the estimated amount before the next shipment arrives. (2.1)

a)

Safety stock

b)

Back stock

c)

Replenishment

d)

Out-of-stock

17.

This is a machine-readable series of parallel lines that combine to create a unique item identifier. (2.1)

a)

RFID

b)

Barcode

c)

PLU

d)

Excess inventory

18.

The process of automatic or manual ordering to meet product demands is called:

(2.1)

a)

Inventory replenishment

b)

RFID

c)

PLU

d)

Excess inventory

19.

The process of placing inventory on sales floor shelves, racks or other displays to be sold is called:

(2.1)

a)

Back stock

b)

Out-of-stock

c)

Stocking

d)

Excess inventory

20.

The term for when a retailer has run our of a particular item is:

(2.1)

a)

Safety stock

b)

Out-of-stock

c)

Back stock

d)

Excess inventory

21.

When products arrive at a physical store, the process used to enter it into the store's on-hand inventory is called:

(2.1)

a)

Stocking

b)

Inventory replenishment

c)

Receiving

d)

Inventory tracking

22.

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 then continues stocking and moves on with her day. Which of the following would then be true? (2.1)

a)

The inventory system's numbers would still be accurate

b)

The number of shampoo bottles in the inventory system would be too high

c)

The number of shampoo bottles in the inventory system would be too low

d)

The inventory would need to be counted manually

23.

Which devices allow security personnel or managers to watch several areas of the building from a central location? (2.2)

a)

PLUs

b)

SKUs

c)

Fixture locks

d)

Closed-circuit cameras

24.

These devices are specifically intended to be attached to clothing in order to prevent theft. (2.2)

a)

SKUs

b)

PLUs

c)

Non-electronic ink tags

d)

Electronic tags

25.

These devices are used primarily to prevent the theft of high-priced items, particularly small one. (2.2)

a)

Display or fixture locks

b)

Non-electronic ink tags

c)

Electronic tags

d)

PLUs

26.

If a POS system detects credit card or debit card fraud, what will it do? (2.2)

a)

Sound an alarm

b)

Decline the transaction

c)

Process the transaction

d)

Place an automated call to security

27.

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? (2.2)

a)

Receipt fraud

b)

Switch fraud

c)

Identity theft

d)

Return fraud

28.

Which of the following is NOT an example of employee fraud or theft? (2.2)

a)

Intentionally pricing items incorrectly

b)

Giving products away to friends or family

c)

Chatting with co-workers when there's stocking to be done

d)

Taking a coffee break

29.

Approximately what percentage of shoplifting is due to employee theft? (2.2)

a)

20%

b)

30%

c)

40%

d)

50%

30.

Which agency or law protects employees against hazards in the workplace? (2.3)

a)

ADA

b)

OHSA

c)

FMLA

d)

FDIC

31.

Which agency or law protects employees who report unlawful or unsafe practices? (2.3)

a)

Whistleblower Protection Act

b)

Americans with Disabilities Act

c)

Family and Medical Leave Act

d)

Unsafe Practices Act

32.

Which of the following is a proper lifting technique? (2.3)

a)

Lift close to your body

b)

Keep your feet close together

c)

Lift with your back

d)

If you're straining, bend your knees

33.

If you see a spill of food or liquid on the sales floor, what's the first think you should do? (2.3)

a)

Call for a custodian or maintenance person to clean it up

b)

Find a mop or broom and clean it up yourself

c)

Find out who was responsible for causing the spill

d)

Stand near or over the spill to direct traffic away from it until it can be cleaned up

34.

Which of the following is the specific term that describes an injury caused by an item falling off a shelf and hitting a person? (2.3)

a)

Accidental injury

b)

Negligence

c)

Struck-by-injury

d)

Struck-against-injury

35.

This is extra inventory kept on hand in case customers buy more than the estimated amount before the next shipment arrives. (2.1)

a)

Safety stock

b)

Back stock

c)

Replenishment

d)

Out-of-stock

36.

This is a machine-readable series of parallel lines that combine to create a unique item identifier. (2.1)

a)

RFID

b)

Barcode

c)

PLU

d)

Excess inventory

37.

The process of automatic or manual ordering to meet product demands is called:

(2.1)

a)

Inventory replenishment

b)

RFID

c)

PLU

d)

Excess inventory

38.

The process of placing inventory on sales floor shelves, racks or other displays to be sold is called:

(2.1)

a)

Back stock

b)

Out-of-stock

c)

Stocking

d)

Excess inventory

39.

The term for when a retailer has run our of a particular item is:

(2.1)

a)

Safety stock

b)

Out-of-stock

c)

Back stock

d)

Excess inventory

40.

When products arrive at a physical store, the process used to enter it into the store's on-hand inventory is called:

(2.1)

a)

Stocking

b)

Inventory replenishment

c)

Receiving

d)

Inventory tracking

41.

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 then continues stocking and moves on with her day. Which of the following would then be true? (2.1)

a)

The inventory system's numbers would still be accurate

b)

The number of shampoo bottles in the inventory system would be too high

c)

The number of shampoo bottles in the inventory system would be too low

d)

The inventory would need to be counted manually

42.

Which devices allow security personnel or managers to watch several areas of the building from a central location? (2.2)

a)

PLUs

b)

SKUs

c)

Fixture locks

d)

Closed-circuit cameras

43.

These devices are specifically intended to be attached to clothing in order to prevent theft. (2.2)

a)

SKUs

b)

PLUs

c)

Non-electronic ink tags

d)

Electronic tags

44.

These devices are used primarily to prevent the theft of high-priced items, particularly small one. (2.2)

a)

Display or fixture locks

b)

Non-electronic ink tags

c)

Electronic tags

d)

PLUs

45.

If a POS system detects credit card or debit card fraud, what will it do? (2.2)

a)

Sound an alarm

b)

Decline the transaction

c)

Process the transaction

d)

Place an automated call to security

46.

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? (2.2)

a)

Receipt fraud

b)

Switch fraud

c)

Identity theft

d)

Return fraud

47.

Which of the following is NOT an example of employee fraud or theft? (2.2)

a)

Intentionally pricing items incorrectly

b)

Giving products away to friends or family

c)

Chatting with co-workers when there's stocking to be done

d)

Taking a coffee break

48.

Approximately what percentage of shoplifting is due to employee theft? (2.2)

a)

20%

b)

30%

c)

40%

d)

50%

49.

Which agency or law protects employees against hazards in the workplace? (2.3)

a)

ADA

b)

OHSA

c)

FMLA

d)

FDIC

50.

Which agency or law protects employees who report unlawful or unsafe practices? (2.3)

a)

Whistleblower Protection Act

b)

Americans with Disabilities Act

c)

Family and Medical Leave Act

d)

Unsafe Practices Act

51.

Which of the following is a proper lifting technique? (2.3)

a)

Lift close to your body

b)

Keep your feet close together

c)

Lift with your back

d)

If you're straining, bend your knees

52.

If you see a spill of food or liquid on the sales floor, what's the first think you should do? (2.3)

a)

Call for a custodian or maintenance person to clean it up

b)

Find a mop or broom and clean it up yourself

c)

Find out who was responsible for causing the spill

d)

Stand near or over the spill to direct traffic away from it until it can be cleaned up

53.

Which of the following is the specific term that describes an injury caused by an item falling off a shelf and hitting a person? (2.3)

a)

Accidental injury

b)

Negligence

c)

Struck-by-injury

d)

Struck-against-injury

54.

Which of the following refers to the total amount of money that a retailer brings in? (4.1)

a)

Profit

b)

Revenue

c)

Cost of Goods Sold

d)

Operating costs

55.

Which of the following refers to the amount of money that a retailer makes after accounting for expenses? (4.1)

a)

Profit

b)

Revenue

c)

Cost of Goods Sold

d)

Operation costs

56.

Which of the following refers to the difference between revenue and cost of goods sold? (4.1)

a)

Net profit

b)

Gross profit

c)

Profit margin

d)

Profit margin percentage

57.

Which of the following refers to the difference between revenue and all expenses, including the cost of goods sold and operating expenses? (4.1)

a)

Net profit

b)

Gross profit

c)

Profit margin

d)

Profit margin percentage

58.

What's the term for reducing the price of an item in order to encourage sales? (4.1)

a)

Net profit

b)

Margin

c)

Markup

d)

Markdown

59.

If a business' revenue is $1,150 and its cost of goods sold (COGS) is $734, what is the business' gross profit? (4.1)

a)

$1884

b)

$516

c)

$416

d)

There's not enough information to calculate this.

60.

If a business' gross profit is $100 and its revenue is $500, what is the business' profit margin percentage? (4.1)

a)

20%

b)

100%

c)

25%

d)

There's not enough information to calculate this.

61.

Carla has a small phone-accessory business. She buys accessories from manufactures and resells them to her customer. Which of the following are NOT operating expenses for Carla? (4.2)

a)

Website hosting fees

b)

Transportation costs

c)

The costs of the phone accessories that she buys and resells

d)

Credit card processing fees

62.

Using the manufacturer's suggested retail price is called:

(4.2)

a)

Bundle pricing

b)

Keystone pricing

c)

Psychological pricing

d)

Vendor pricing

63.

Selling multiple products and services together at a lower retail price than if all items were purchased individually is called:

(4.2)

a)

Bundle pricing

b)

Keystone pricing

c)

Psychological pricing

d)

Vendor pricing

64.

Using prices that end in the numbers 5, 7, or 9 can indicate a fair price to customers. This is called:

(4.2)

a)

Bundle pricing

b)

Keystone pricing

c)

Psychological pricing

d)

Vendor pricing

65.

Offering a promotional markdown with a coupon is called:

(4.2)

a)

Competitive pricing

b)

Discount pricing

c)

Markup pricing

d)

Multiple pricing

66.

Selling multiple items for one price, such as, "buy one, get one free," is an example of:

(4.2)

a)

Competitive pricing

b)

Discount pricing

c)

Markup pricing

d)

Multiple pricing

67.

Applying a present margin rate in the cost of items to determine retail price is called:

(4.2)

a)

Competitive pricing

b)

Discount pricing

c)

Markup pricing

d)

Multiple pricing

68.

Which is not a component of a marketing plan? (3.1)

a)

Planogram

b)

Product

c)

Price

d)

Promotion

69.

Bill is creating and selling homemade cookies. Which of the following factors does NOT directly affect how much Bill will sell his cookies for? (3.1)

a)

The price of sugar

b)

The prices that Bill's competitors charge for similar cookies

c)

The oven temperature Bill uses when he bakes the cookies

d)

The amount of money that Bill wants to make on each sale

70.

Which of the following is NOT considered a promotional strategy? (3.1)

a)

Advertising

b)

Publicity

c)

Personal selling

d)

Pricing

71.

The promotional approach aimed at specific customers with the goal of getting the customer to take action is called:

(3.1)

a)

Direct marketing

b)

Cold calling

c)

Sales

d)

Advertising

72.

The most influential form of advertising is:

(3.1)

a)

Newspaper

b)

Cold calling

c)

Social media

d)

TV

73.

Visual merchandising does the following:

(3.2)

a)

Promotes products using magazine advertisements

b)

Creates advertising billboards

c)

Allows customers to make a connection with products

d)

Organizes merchandise in the stockroom

74.

When doing a store walkthrough, you notice a light fixture in the stockroom that's covered with dust and dead insects, and one light bulb is flickering. What do you do? (3.2)

a)

Fix it yourself

b)

Tell your manager

c)

Ignore the issue - maintenance will take care of it

d)

Call the electrician

75.

When doing a store walkthrough, you see spilled soda on the floor. What do you do first? (3.2)

a)

Get a cone or marker and put it near the spill so that no one will walk on it

b)

Tell your manager

c)

Ignore the issue - maintenance will take care of it

d)

Clean it up

76.

What's the term for a schematic diagram that visually represents the way in which merchandise should be displayed on the sales floor? (3.2)

a)

Visual merchandising

b)

Planogram

c)

PLU

d)

Inventory system

77.

The FIFO method makes sure that which of the following occurs:

(3.2)

a)

Items with the nearest-term expiration dates are in the front

b)

Items with the nearest-term expiration dates are in the back

c)

Top-selling items are in the front

d)

Top-selling items are in the back

78.

A job description typically contains:

(5.1)

a)

The name of the supervisor

b)

A description of the job's responsibilities

c)

The specific career path for an individual starting with the company in this position

d)

The exact hours that a person in this job works each week

79.

Which agency is responsible for implementing laws and regulations to protect employees? (5.1)

a)

The EEOC

b)

The ADA

c)

The FDIC

d)

The FLSA

80.

What's the term for a very brief speech that you can use to sell yourself to people you meet? (5.1)

a)

A job post

b)

A keynote speech

c)

An elevator pitch

d)

A sales presentation

81.

When describing your skills and experience, it's important to:

(5.2)

a)

Begin sentences with "I did..."

b)

Use action verbs

c)

Use sentences directly from the job description

d)

List the names of your coworkers

82.

If you have a job interview scheduled for 1:00 PM, when's the best time to arrive at the store where you're being interviewed? (5.2)

a)

1:00 PM

b)

12:30 PM

c)

12:45 PM

d)

12:59 PM

83.

What's the standard method used to thank an interviewer after the interview? (5.2)

a)

Via email

b)

Via text message

c)

Via phone call

d)

By sending a card in the mail

84.

Which of the following comments would be inappropriate in a social media post? (5.2)

a)

"Retail friends: I'm looking for a sales associate position, so if you know anyone, feel free to mention me!"

b)

"Joe, send me your demo reel and I'll talk to my producer friend about you."

c)

"Quit my job today! No more being exploited and unappreciated!"

d)

"Thanks to Walgreens for filling my prescription so quickly!"

85.

Which of the following is not typically counted as "compensation" that an employee received? (5.2)

a)

Hourly pay

b)

Free coffee in the break room

c)

Bonus pay

d)

Sales commissions

86.

Which of the following phrases is an example of positive feedback given to an employee? (5.3)

a)

"Julie, your productivity scores are very low and need to improve."

b)

"Max, you need to start showing up on time."

c)

"Phil, you've really improved your stocking speed."

d)

"Emily, you have so much potential."

87.

The term for someone who is considered to be supportive, reliable part of a group is:

(5.3)

a)

Team player

b)

Team member

c)

Teammate

d)

Team leader

88.

KPI stands for:

(5.3)

a)

Key Performance indicator

b)

Key Personnel initiative

c)

Key People initiative

d)

Key Planogram item

89.

If a manager assigns the right tasks to the right people, the manager:

(5.4)

a)

Delegates effectively

b)

Manages discipline and addresses conflict

c)

Motivates people

d)

Understands team dynamics

90.

If a manager recognizes that the team is in the forming phases and clarifies member roles and responsibilities, the manger:

(5.4)

a)

Delegates effectively

b)

Manages discipline and addresses conflict

c)

Motivates people

d)

Understands team dynamics

91.

A manager spends time getting to know each employee's career goals and invests time and coaching with those who demonstrate interest in career advancement and high potential. The manager:

(5.4)

a)

Delegates effectively

b)

Manages discipline and addresses conflict

c)

Selects and develops the right people

d)

Understands team dynamics

92.

If a manger addresses performance issues quickly, respectfully and fairly, the manager:

(5.4)

a)

Delegates effectively

b)

Manages discipline and addresses conflict

c)

Selects and develops the right people

d)

Understands team dynamics