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Pricing

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Pricing

Exam: 500523RR – BUS101 Final Exam

1. Everyday low pricing means _______ pricing.

A. auction-type

B. value-based

C. going-rate

D. skimming

2. Communication from one subordinate in one department to a supervisor in another department is

A. horizontal.

B. downward.

C. upward.

D. diagonal.

3. Mary in the accounting department is dealing with many work-related disputes with her manager, Nancy. It has reached to a point where Mary cannot do her job anymore. Where should Mary go to file a complaint about Nancy?

A. Ombudsperson

B. Arbitrator

C. Conciliator

D. Mediator

4. Regarding supplier performance measurement, a supplier’s willingness to participate in the minimum purchase requirement comes under _______ measures.

A. cost/price

B. service

C. quality

D. delivery

5. PRT Company produces the best computer printers in the industry. The printers are long-lasting and price friendly, and no competitor has been able to catch up with PRT Company. This is an example of

A. market segmentation.

B. competitive advantage.

C. economies of scope.

D. market research.

6. A company can increase revenues and profits if they focus on

A. loyal customers and average customers.

B. loyal customers and major customers.

C. average customers and below-average customers.

D. major customers and average customers.

7. When defective or used finished products move from customers and producers to suppliers, it’s called

A. push supply chain.

B. pull supply chain.

C. reverse logistics.

D. forward logistics.

8. A job specifications document contains which of the following?

A. Job context, schedules, and conditions

B. Job duties, tasks, and responsibilities

C. Skills, education, and experience

D. Job changes, analysis, and design

9. _______ show the amount of time needed to complete activities as well as the amount of activity that needs to be completed within a timeframe.

A. Fishbone diagrams

B. Process diagrams

C. Organizational charts

D. Gantt charts

10. The scope of private law includes which of the following?

A. Constitutional law, administrative law, and criminal law

B. Criminal law, contract law, and constitutional law

C. Tort law, administrative law, and property law

D. Contract law, tort law, and property law

11. Which of the following provides a cross-functional training in preparing an employee for future job opportunities?

A. Delegation

B. Job rotation

C. Coaching

D. Mentoring

12. Macroeconomics deals with which of the following?

A. Profits

B. Inflation

C. Income

D. Production

13. When a manufacturing company raises prices for its products, it’s a reflection of a/an

A. increase in producer price index (PPI).

B. decrease in consumer price index (CPI).

C. decrease in balance of payments (BOP).

D. increase in balance of trade (BOT).

14. A financial analyst at RMO Manufacturing Corporation has assembled the following data for the last

fiscal year. All data is in millions (M).

Gross sales $12M

Interest expenses $0.5M

Returns and allowances $1M

Taxes $0.1M

Cost of goods sold $3M

Cash dividends $0.4M

Operating expenses $3M

Common stock $1M

What is the net income or loss for the RMO Manufacturing Corporation for the last fiscal year?

A. Net loss of $4M

B. Net income of $5M

C. Net income of $4M

D. Net loss of $5M

15. Which of the following represents the correct sequence of handling physical security threats?

A. Delay → Deny → Detect → Deter

B. Deter → Deny → Detect → Delay

C. Detect → Delay → Deny → Deter

D. Deny → Detect → Deter → Delay

16. Safety stock _______ the carrying costs.

A. slightly affects

B. increases

C. decreases

D. does not affect

17. ECC Company has collected the following data on quantity produced, variable costs, fixed costs for its production, and cost analysis.

Quantity Produce Total Variable Costs Total Fixed Costs Total Costs

0 $0 $10,000 10,000

1,000 $4,000 $10,000 $14,000

5,000 $20,000 $10,000 $30,000

10,000 $40,000 $10,000 $50,000

What is the variable cost per unit at 5,000 units of production for the ECC Company?

A. $3

B. $2

C. $5

D. $4

18. Which of the following are both an open-book management practice and an informal communication method?

A. Management by walking around

B. Water-fountain meetings

C. Grapevine sessions

D. Fire-side chats

19. Which of the following bases of power refers to a person having and sharing valuable information to

others who need such information?

A. Legitimate

B. Referent

C. Expert

D. Reward

20. Which of the following network connectivity mechanisms monitor and control incoming and outgoing network traffic?

A. Routers

B. Switches

C. Sensors

D. Firewalls

21. Regarding microeconomics, which of the following considers opportunity costs?

A. Economic costs

B. Marketing costs

C. Manufacturing costs

D. Accounting costs

22. Which of the following represents the fixed costs associated with buying materials from suppliers, not including the costs of materials?

A. Carrying

B. Stock-out

C. Ordering

D. Quality

23. Which of the following represents the correct sequence?

A. Goals → Mission → Policy → Strategy

B. Policy → Strategy → Mission → Goals

C. Mission → Goals → Strategy → Policy

D. Strategy → Goals → Policy →Mission

24. Return-on-sales would be higher under which of the following pricing continuums?

A. Very low prices

B. Ceiling prices

C. Very high prices

D. Floor prices

25. When a potential buyer approaches a seller to buy materials from the seller, it’s called

A. reverse logistics.

B. traditional purchasing.

C. reverse purchasing.

D. forward logistics.

26. Which of the following inventory turnover rates indicates a high movement in selling of products for a company?

A. 8

B. 10

C. 4

D. 6

27. The scope of collective bargaining unit includes which of the following?

A. Committees, arbitrators, conciliators, and mediators

B. Management, unions, lobbyists, and regulators

C. Grievances, reprisals, wages, and working conditions

D. Consultants, contractors, advisors, and attorneys

28. The proper roles expected of the Chief Executive Officer of a company include which of the following?

A. Leader, mentor, motivator, and communicator

B. Communicator, dictator, rank-puller, and hard negotiator

C. Mentor, doubter, motivator, and hard bargainer

D. Task-oriented, coercive leader, results-driven, and hard seller

29. A portion of the balance sheet data for SPK Corporation is shown below in millions (M).

Current assets $6M

Current liabilities $3M

What is SPK Corporation’s working capital?

A. $6M

B. $9M

C. $4.5M

D. $3M

30. Higher-level managers need

A. no soft skills and all hard skills.

B. less soft skills and more hard skills.

C. more soft skills and less hard skills.

D. average soft skills and average hard skills.

31. Which of the following uses a moderator to guide the work of several members?

A. Task forces

B. Teams

C. Focus groups

D. Working groups

32. The price per unit is $120 for JMO Manufacturing Company, its variable cost per unit is $80, and its fixed costs are $4,000. What is the breakeven point in units using the contribution margin method?

A. 40

B. 60

C. 80

D. 100

33. Regarding service characteristics, which of the following is often difficult to illustrate, demonstrate, or display?

A. Highly differentiated marketing systems

B. Fluctuating demand

C. Inseparability

D. Intangibility

34. Which of the following is used to calculate the cost-of-living index?

A. Balance of trade (BOT)

B. Producer price index (PPI)

C. Consumer price index (CPI)

D. Balance of payments (BOP)

35. What’s the major requirement for low-context managers doing business in high-context cultures?

A. Formality

B. Patience

C. Promptness

D. Flexibility

36. The Securities Act of 1933 focuses on _______ transactions.

A. over-the-counter

B. computer trading

C. secondary

D. primary

37. Regarding microeconomics, which of the following statement is correct?

A. Accounting profit is greater than marketing costs

B. Accounting costs include opportunity costs

C. Accounting profit is different from economic profit

D. Economic profit is less than production costs

38. Regular payback period is defined as the

A. present value of benefits minus present value of costs.

B. net investment divided by average cash inflows.

C. present value of cash inflows divided by present value of cash outflows.

D. average annual profits divided by initial cash outlay.

39. Which of the following represents the costs associated with safety stock as a cushion?

A. Ordering

B. Stock-out

C. Quality

D. Carrying

40. Which of the following is a self-replicating mechanism?

A. Spoofing attacks

B. Virus attacks

C. Worm attacks

D. Spamming attacks

41. Which of the following groups is the primary cause for an organization’s failure?

A. Competitors

B. Management

C. Suppliers

D. Customers

42. Marketing management focuses on _______-term results.

A. long

B. short

C. near long

D. intermediate

43. Which of the following ensures non-discrimination in employment practices?

A. Office of Personnel Management

B. National Labor Relations Board

C. Department of Labor

D. Equal Employment Opportunity Commission

44. Regarding product mix, public relations is a part of

A. place.

B. price.

C. promotion.

D. product.

45. Mishandling of employees’ disciplinary procedures by an organization can create _______ risks.

A. political and economic

B. ethical and religious

C. cultural and behavioral

D. legal and financial

46. Which of the following helps in problem-solving?

A. Listening and stroking

B. Stroking and discounting

C. Listening and discounting

D. Stroking only

47. Which of the following focuses on the relationship between employee behavior and organizational

performance?

A. Organizational innovation

B. Organizational development

C. Organizational structure

D. Organizational change

48. Which of the following eliminates incoming inspection of materials coming from a supplier to a buyer?

A. Supplier reduction strategies

B. Supplier certification methods

C. Early involvement of suppliers in product design

D. Integrating suppliers

49. Which of the following leaders works to fulfill subordinates’ needs and goals as well as to achieve the organization’s larger mission?

A. Charismatic

B. Transformational

C. Servant

D. Transactional

50. Which of the following attacks refers to electronic garbage and harassment?

A. Spamming

B. Viruses

C. Worms

D. Spoofing

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