Entrepreneurship Exam Practice Tests
Course Introduction
Entrepreneurship explores the process of identifying opportunities, developing innovative ideas, and launching new ventures. This course examines the mindset and skills necessary for successful entrepreneurs, delving into business model development, market research, financial planning, and resource acquisition. Students will analyze real-world case studies and participate in practical exercises to nurture creativity, problem-solving, and leadership abilities. By the end of the course, learners will understand how to transform ideas into viable businesses while navigating ethical, legal, and economic challenges within the entrepreneurial landscape.
Recommended Textbook Fundamentals of Selling Customers for Life through Service 13th Edition by Charles Futrell
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Page 2
Chapter 1: The Life, Times, and Career of the Professional Salesperson
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Sample Questions
Q1) A salesperson that adheres to the Golden Rule of Personal Selling:
A) is primarily motivated by money.
B) is driven by pride and recognition.
C) focuses on laws rather than morals.
D) finds others' interests most important.
E) requires intensive monitoring from managers.
Answer: D
Q2) _____ skills refer to the seller's understanding and proficiency in the performance of specific tasks.
A) Conceptual
B) Operational
C) Automated
D) Transactional
E) Technical
Answer: E
Q3) Salespeople do not need increase sales in old accounts if they are generating a sufficient quantity of new customers.
A)True
B)False
Answer: False
Page 3
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Chapter 2: Relationship Marketing: Where Personal Selling Fits
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Sample Questions
Q1) Before the Great Depression,few firms had either sales or marketing departments.
A)True
B)False Answer: True
Q2) Businesses that have a selling orientation:
A) emphasize the product over all other marketing mix elements.
B) train salespeople to analyze customer wants and needs.
C) emphasize long-term planning and globalization.
D) identify customer wants before making products.
E) pursue consumer satisfaction as a primary objective.
Answer: A
Q3) Which of the following statements about personal selling is true?
A) It falls under the marketing mix category of promotion.
B) It is the primary tool of non-personal communication.
C) It involves giving free samples and coupons to potential buyers.
D) It is the communication of information that is not paid for by the firm.
E) It is divided into consumer and trade personal selling.
Answer: A
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Chapter 3: Ethics First Then Customer Relationships
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Sample Questions
Q1) On the job,Jack acts purely in his own best interest.He follows company rules only to avoid being fired.At what level of moral development is Jack most likely functioning?
A) Unrestricted
B) Principled
C) Conventional
D) Mature
E) Preconventional
Answer: E
Q2) Cooling-off laws:
A) are meant to protect customers and are not limited by time.
B) allow sellers to conceal sensitive information about products.
C) are not applicable to low-value goods or door-to-door sales.
D) have been adopted in all fifty states.
E) allow time buyers to cancel contracts.
Answer: E
Q3) A person who engages in whistle-blowing is called an ethics ombudsperson.
A)True
B)False
Answer: False
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Page 5
Chapter 4: The Psychology of Selling: Why People Buy
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Sample Questions
Q1) Which of the following is a false assumption made by many salespeople?
A) Benefits are very important to buyers.
B) Price is the only factor in a buying decision.
C) Psychological factors influence buying decisions.
D) Wants and needs motivate buying decisions.
E) Unimportant benefits should be deemphasized.
Q2) What is most needed when working with a prospect at the unconscious need level?
A) Perceptive observations of the customer's social class
B) Skillful questioning to determine the customer' needs
C) Self-awareness modification to gain customer trust
D) Highly detailed feature descriptions
E) Multiple attempts at a trial closing
Q3) Theo is in Target looking for a gift for his girlfriend.Theo is not sure of what he wants except in general terms.At what level of need awareness is Theo in?
A) Conscious
B) Preconscious
C) Semiconscious
D) Unconscious
E) Intermediate
Q4) What is the value of technology in selling?
Page 6
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Chapter 5: Communication for Relationship Building: Its Not
All Talk
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Sample Questions
Q1) _____ is the reception and translation of information by the receiver.
A) Feedback
B) Communication design
C) Encoding
D) Medium optimization
E) Decoding
Q2) As she listens to her customer,Denise refrains from evaluating the message and considers the customer's point of view.Denise is engaged in _____ listening.
A) dynamic
B) participative
C) non-routine
D) active
E) responsive
Q3) The evaluative listener tries to hear what another person says but makes little effort to understand the purpose of the message.
A)True
B)False
Q4) Define communication in a sales context and list the major elements in a basic communication model.
Page 7
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Chapter 6: Sales Knowledge: Customers, Products, technologies
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Sample Questions
Q1) Local supermarkets and department stores regularly advertise nationally distributed brand products.Which of the following advertisement types are they most likely to use?
A) Retail advertising
B) National advertising
C) Cooperative advertising
D) Trade advertising
E) Industrial advertising
Q2) Many companies offer customers various types of discounts,which are usually developed at the business unit level by the firm's product managers.
A)True
B)False
Q3) Briefly distinguish between the Internet and the World Wide Web.
Q4) The personal computer is a valuable tool for increasing a salesperson's productivity and improving customer relationships.
A)True
B)False
Q5) What is sales training? How long is the training period for a typical salesperson?
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Chapter 7: Prospecting the Lifeblood of Selling
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Sample Questions
Q1) Which of the following prospecting methods is most similar to telephone prospecting in terms of its objective?
A) Cold canvassing
B) Endless chain of referrals
C) Networking
D) Direct-mail prospecting
E) Observation
Q2) The sales presentation provides salespeople with very little opportunity to influence a prospect.
A)True
B)False
Q3) The sales process refers to a sequential series of actions by the salesperson that leads toward the customer taking a desired action and ends with a follow-up to ensure purchase satisfaction.
A)True
B)False
Q4) What is the sales process? What are the steps in the selling process?
Q5) Briefly describe the center of influence method of prospecting.
Q6) What are the benefits of making an appointment?
Page 9
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Chapter 8: Planning the Sales Call Is a Must
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Sample Questions
Q1) Before developing your presentation,you need to determine the prospect to call on and make an appointment.
A)True
B)False
Q2) With reference to the prospect's five mental steps in buying,the first step is the desire to buy the product.
A)True
B)False
Q3) A marketing plan created for an end-user most likely addresses:
A) the business proposition.
B) forecasted profit and ROI.
C) how the product can be used.
D) how a reseller will sell the product once purchased.
E) the promotional options available for selling the product.
Q4) When a salesperson has determined that a prospect is in the desire stage of the mental buying process,then the salesperson should attempt to close.
A)True
B)False
Q5) List four reasons why a salesperson should carefully plan his/her sales call.
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Chapter 9: Carefully Select Which Sales Presentation
Method to Use
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Sample Questions
Q1) Which of the following products would most likely require a problem-solution sales presentation?
A) Automobiles
B) Cosmetics
C) Corporate insurance
D) Personal computers
E) Home sound system
Q2) Gulf Technology manufactures platforms for deep sea oil rigs.Costs for the platforms can exceed $1 million.Which sales approach would a Gulf Technology salesperson most likely use?
A) Persuasive selling
B) Need-satisfaction
C) Response-stimulus
D) AIDA selling
E) Participative
Q3) The problem-solution sales presentation rarely requires multiple calls.
A)True
B)False
Q4) What should a salesperson do if a prospect decides to not purchase a product or service?
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Chapter 10: Begin Your Presentation Strategically
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Sample Questions
Q1) A salesperson asks a prospect,"Who will be the primary user for the camera?" The salesperson is using a direct question.
A)True
B)False
Q2) The complimentary approach is the most common and the least powerful because it does little to capture the prospect's attention and interest.
A)True
B)False
Q3) A salesperson using the product approach would hand his/her product to the prospect and ask,"What do you think of that?"
A)True
B)False
Q4) Which of the following statements is true about a nondirective question?
A) Most nondirective questions are closed ended.
B) A nondirective question usually begins with do or are.
C) Nondirective questions are used to find points of agreement
D) A nondirective question clarifies a prospect's previous statement.
E) One word questions can sometimes be used as nondirective questions.
Q5) Why is the product not mentioned in the SPIN approach?
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Chapter 11: Elements of a Great Sales Presentation
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Sample Questions
Q1) Before using a demonstration in a sales presentation,a salesperson should determine the probability that his or her demonstration will backfire.
A)True
B)False
Q2) The dairy salesman asked the store purchasing agent,"Do you think you'll need 10 or 12 pallets of ice cream for your "Summer Buster" sales promotion?" This is an example of a(n):
A) indirect suggestion.
B) autosuggestion.
C) prestige suggestion.
D) manipulative suggestion.
E) counter offer.
Q3) Which of the following refers to a brief story used to illustrate a point and to compare something familiar to something unfamiliar?
A) Metaphor
B) Simile
C) Analogy
D) Parable
E) Imagery
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Page 13
Chapter 12: Welcome Your Prospects Objections
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Sample Questions
Q1) The prospect asked,"Does this display case come with its own lighting system?" The salesperson responded with,"Before you decide to buy,notice how the doors to the case can be easily secured against tampering." What method was the salesperson using to meet this objection?
A) Boomerang
B) Rephrase the objection as a question
C) Dodge
D) Forestall
E) Compensation
Q2) Which of the following is an example of a source objection that a salesperson for a small publishing company might hear from a bookstore owner?
A) "I only deal with large, well-established publishing companies."
B) "Your books are priced too high."
C) "I don't take risks with books by new authors."
D) "I am satisfied with the amount of stock I currently have."
E) "I'm too busy to talk to you now."
Q3) Conditions and hopeless objections cannot be handled by negotiation.
A)True
B)False
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Page 14
Chapter 13: Closing Begins the Relationship
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Sample
Questions
Q1) Cassandra works for a manufacturer of cedar closet systems.As she negotiates with a buyer for Home Depot,Cassandra says,"The recent drought in Maine may seriously limit our ability to meet your needs for cedar products in the future." Cassandra is using a(n)_____ close.
A) probability
B) standing-room-only
C) minor-points
D) assumptive
E) balance-sheet
Q2) Salespeople should not attempt to close a sale before completing the sales presentation.
A)True
B)False
Q3) When the salesperson has done the best he can and still is unable to close the sale,he should:
A) remove that prospect from the sales call list.
B) categorize that prospect as an orphan.
C) try to re-qualify the prospect.
D) thank the customer for the opportunity.
E) stop calling the customer.
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Chapter 14: Service and Follow-Up for Customer Retention
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Sample Questions
Q1) Ben is a salesperson for a company that manufactures gardening equipment.Why does Ben most likely insist on mailing his retail customers,birthday,holiday,and special occasion cards containing seed packs?
A) To encode his message of service
B) To show his appreciation of his customers
C) To create word-of-mouth advertising
D) To express non-verbal communication
E) To meet customers' supply needs
Q2) _____ refers to the activities and programs provided by the seller to make the relationship satisfying for the customer.
A) Customer service
B) Skimming
C) Transaction selling
D) Customized marketing
E) Direct marketing
Q3) Identify and define the three levels of customer relationship marketing.
Q4) When does a salesperson achieve the most productive number of sales calls?
Q5) Explain how customer service increases sales for a salesperson.What are some examples of providing excellent customer service?
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Chapter 15: Time, Territory, and Self-Management: Keys to Success
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Sample Questions
Q1) Meredith Jacoby sells floral supplies.Her annual sales equal $450,000.Her total fixed costs annually equal $75,000.The cost of goods sold annually is $335,000.Calculate her gross profit percentage.
A) 11.9%
B) 20.3%
C) 25.6%
D) 34.3%
E) Cannot be determined from information given
Q2) Sales managers use the ELMS system to:
A) identify demographic characteristics so that customer needs match sales goals.
B) evaluate salespeople during annual performance appraisals.
C) match the personalities of salespeople and customers.
D) create the most efficient travel routes for salespeople.
E) categorize accounts in terms of profitability.
Q3) What is a sales territory? What are the major reasons for forming sales territories?
Q4) What commonly causes the frequency of sales calls made by a salesperson to increase?
Q5) What is the relationship between the ELMS system and the 80/20 principle?
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Chapter 16: Planning, Staffing, and Training Successful Salespeople
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Sample Questions
Q1) Organizational design refers to the:
A) company's organizational chart.
B) type of organizational culture selected by a company.
C) flexibly defined relationships among jobs within an organization.
D) authority for staffing, directing, training, and evaluating subordinates.
E) coordinated process of communication, authority, and responsibility for sales groups.
Q2) Which of the following is identified as a characteristic of a successful salesperson?
A) Passive
B) Reactive
C) Compliant
D) Energetic
E) Cautious
Q3) What is involved in the planning function of management?
Q4) The letter of application should be based on the sound psychological principle of reinforcement,that is,it should contain most of the information presented in the resume without providing any additional information.
A)True
B)False
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Chapter 17: Motivation, Compensation, Leadership, and Evaluation of Salespeople
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Sample Questions
Q1) Which of the following statements about progressive commission plan is most likely true?
A) Salespeople are given an increased number of territories based on annual performance.
B) A salesperson must call on more accounts each week until saturation is reached.
C) A salesperson's commission rate increases as total sales increase.
D) Salespeople earn a fixed salary plus additional annual bonuses.
E) A salesperson is rewarded for increasing nonselling activities.
Q2) Achievement awards are special financial incentives used to motivate salespeople.
A)True
B)False
Q3) The 'tells' leadership style has both high task orientation and low relationship behavior.
A)True B)False
Q4) Why do companies select the straight commission plan?
Q5) What is straight salary compensation plan? What are the disadvantages associated with the straight salary compensation plan?
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