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Business of Retail Credentialing Review

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

a merchandise inventory determined by keeping a continuous record of increases, decreases, and balance on hand

a)

Excessive Inventory

b)

Total Inventory

c)

Periodic Inventory

d)

Perpetual Inventory

2.

most common injury in retail stores

a)

Slips, trips, and falls

b)

struck by

c)

workplace violence

d)

ladder mishaps

3.

Any form of direct contact between a salesperson and a customer.

a)

Personal Selling

b)

Sales Promotion

c)

Advertising

d)

Publicity

4.

wearing an expensive item once for an event and then returning it for a full refund

a)

Wardrobing

b)

Return fraud

c)

Automated fraud

d)

Switch Fraud

5.

producing paid announcements for products

a)

Advertising

b)

Publicity

c)

Personal Selling

d)

Salesl Promotion

6.

Rivalry between or among businesses that offer similar types of goods or services

a)

Direct Competition

b)

Omni-channel retailing

c)

Indirect competition

d)

Replacement competition

7.

accounts for over 30% of all theft

a)

Internal theft

b)

Account takeover fraud

c)

External theft

d)

Receipt fraud

8.

attention given to something or someone by the media

a)

Publicity

b)

Advertising

c)

Sales Promotion

d)

Direct Marketing

9.

complete listing of all merchandise a retailer owns

a)

Total Inventory

b)

EAS (Electronic Article Surveillance )

c)

Available on-hand inventory

d)

Safety Stock

10.

something striking an individual, such as a product falling off of the shelf

a)

Struck by injury

b)

Slip, trip and fall

c)

Struck against injury

d)

Negligence

11.

the direct costs attributable to the production of the goods sold by a company

a)

COGS (Cost of Goods Sold)

b)

Revenue

c)

Profit

d)

Expenses

12.

The quantifiable metrics a company uses to evaluate progress toward critical success factors (sales, customer retention, etc)

a)

KPIs (Key Performance Indicator)

b)

Gross Profit

c)

Loss Leaders

d)

Inventory Tracking System

13.

Number of units within the total inventory that are available to sell

a)

Available or on-hand inventory

b)

Total Inventory

c)

Safety Stock

d)

EAS (Electronic Article Surveillance)

14.

A merchandise inventory determined by counting, weighing, or measuring items of merchandise on hand, using a predetermined schedule.

a)

Periodic Inventory

b)

Perpetual Inventory

c)

Total Inventory

d)

Excess Inventory

15.

when a customer purchases a new item that works fine and then they return a damaged or broken identical item that they already owned.

a)

Switch Fraud

b)

Return Fraud

c)

Automated Fraud

d)

Identity Fraud

16.

uses a chip in a tag or label to store information, and information is transmitted from, or written to, the tag or label when the chip is exposed to the correct frequency of radio waves.

a)

RFID (radio frequency identification)

b)

Non-Electric Ink Tags

c)

PLU - price look up

d)

POS (Point of Sale)

17.

gross profit divided by revenue

a)

Profit Margin Percentage

b)

Revenue

c)

Net Profit

d)

Gross Profit

18.

interconnected system of approaches for meeting the goal of retailing to provide customers with merchandise they want.

a)

Retail Ecosystem

b)

PLU - price look up

c)

markup pricing

d)

Keystone pricing

19.

the marketing of two or more products in a single package price.

a)

Bundle Pricing

b)

Prestige Pricing

c)

Discount Pricing

d)

Odd Pricing

20.

Short-term incentives to encourage the purchase or sale of a product or service (featured sale items, coupons, samples, etc)

a)

Sales Promotion

b)

Direct Marketing

c)

Publicity

d)

Advertising