WorksheetsRISE Up Retail Industry Fundamentals Practice Test
Total questions: 20
Worksheet time: 10mins
If a POS system detects credit card or debit card fraud, what will it do?
Approve the transaction
Decline the transaction
Request additional verification
Notify the customer
Which of the following refers to the total amount of money that a retailer brings in?
Profit
Revenue
Cost of Goods Sold
Operating costs
What kinds of things does a manufacturer produce?
Raw materials
Fossil Fuels
Services
Finished Products
Which of the following is a term for physical goods that are bought and sold?
Sales
Products
Pricing
Services
The process of placing inventory on sales floor shelves, racks or other displays to be sold is called:
Stocking
Restocking
Inventory Management
Display Arrangement
Which of the following is NOT a concept that helps you manage your time effectively? Organizing, Prioritizing, Procrastinating, Focusing
Organizing
Prioritizing
Procrastinating
Focusing
When products arrive at a physical store, the process used to enter it into the store's on-hand inventory is called:
Inventory tracking
Stock management
Product registration
Supply chain management
Which of the following is the term for the overall impression gathered from information that is seen, heard and experienced by customers who encounter a business, its products and services?
Brand promise
Positive feeling
Company culture
Company brand
Which of the following is an example of upselling?
I also have this other laptop that has most of the same features as the one you're looking at, but at a lower price-it's on sale!
I'm sure you'll love those basketball sneakers. Do you also need any T-shirts or shorts?
I love the TV model you're looking at; let me show you a different model with similar features, for the same price, so you can see another brand.
Would you like that as a meal? You can get fries, plus a medium drink, for an extra $2.00.
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
Ignore it and continue with your tasks
Clean it up immediately without warning others
Call a manager to handle the situation
Other than in the stockroom, where is a store's inventory kept?
At the distribution center
On the sales floor
At the manufacturer
In the office
If a business' revenue is $1,150 and its cost of goods sold (COGS) is $734, what is the business' gross profit?
$300
$416
$450
$500
What's the term that describes distributing merchandise from the manufacturer to a retailer's locations?
Distribution
Allocation
Transportation
Logistics
What percent of shoplifting is due to employee theft?
10%
20%
30%
40%
What problem is Bill facing regarding his work shifts?
He is getting too many hours and is overwhelmed with work.
He isn't getting assigned enough hours and worries about the financial consequences of having a lighter schedule than he expected.
He is being assigned shifts that are too far from his home.
He is receiving extra hours but is unhappy with his job.
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
Delay
Which of the following terms best describes a grower of potatoes?
Manufacturer
Wholesaler
Distribution Center
Retailer
Which of the following refers to the difference between revenue and cost of good sold?
Net profit
Gross profit
Profit margin
Profit margin percentage
After one negative experience, approximately what percentage of people say they will never do business with that company again?
25%
50%
75%
90%
Which of the following describes a type of question that cannot reasonably be answered with a "yes" or "no"?
A leading question
An open question
An open-ended question
A closed-ended question
