Wgu C201 Business Acumen Objective
Assessment Exam UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Which two key elements does an effective organization include? - CORRECT ANSWER
Human Interaction & Structure
Why does a line organization structure function most effectively in a crisis situation? - CORRECT
ANSWER It establishes a direct flow of authority
A company might divide itself into smaller groups that best match the types of customers it serves.
What is this an example of? - CORRECT ANSWER Departmentalization
Which primary driver does management use for an organization's structure? - CORRECT ANSWER
Achievement of company goals
Which step in the organizing process results in management grouping work activities into units within
the organization? - CORRECT ANSWER Departmentalization
A high-tech startup company is launching a marketing campaign for its new social media portal by
highlighting how the portal exceeds the connectivity and collaboration capabilities of all other social
media sites.
Which type of competitive advantage is this company leveraging? - CORRECT ANSWER
product
Which marketing strategy is devoted to maintaining continuous bottom line prices rather than relying
on short-term price-cutting tactics such as cents-off coupons, rebates, and special sales? - CORRECT
ANSWER Everyday Low Pricing
When would a pull promotional strategy enhance a competitive advantage to market a product better
than a push strategy? - CORRECT ANSWER When demand for the product is driven by the
end user
,Which marketing tool is often used to build effective relationship marketing campaigns? - CORRECT
ANSWER Affinity Programs
Which element of the promotional mix has the advantage of messaging that can be tailored for each
customer but the disadvantage of a high cost per contact? - CORRECT ANSWER Personal
Selling
What three factors should be addressed in a successful marketing plan? - CORRECT ANSWER
Target Market, Sales Revenue Goals and Plan Implementation Timeline
Which three characteristics are measured in demographic segmentation? - CORRECT ANSWER
Race & Ethnicity, Income and Household Size
In which three ways does business-buying behavior differ from consumer-buying behavior? -
CORRECT ANSWER A group or committee often makes decisions
Purchasers often invite selected providers to bid on a purchase
Buyers face organizational influences that affect their own preferences
Which three factors suggest a product should be marketed as a specialty product? - CORRECT
ANSWER Priced high
Purchased infrequently
Available from a small number of retail outlets
With which two types of products does a marketing strategy rely on advertising more than personal
selling? - CORRECT ANSWER Accessories to primary products
Consumable supplies
After years of marketing a body lotion, a cosmetics company begins promoting the lotion as an insect
repellent as well.In which three product life cycle extension strategies did this company engage? -
CORRECT ANSWER Adding new users, finding new uses for the product, increasing
frequency of use.
What are three qualities of strong brand equity? - CORRECT ANSWER Awareness, Loyalty
and favorable images
,A customer intends to purchase her favorite cereal. It is out of stock, so she purchases an alternative
brand of cereal instead.Which stage of brand loyalty is this customer in? - CORRECT ANSWER
brand preference
Which manufacturer distribution model is enhanced by the shipping and tracking capabilities of a
global package delivery service? - CORRECT ANSWER Direct
Which three tasks are key responsibilities of operations managers? - CORRECT ANSWER
Planning the overall production process
Determining the best layout for the firm's facilities
Implementing the production plan
Which two characteristics does a Just-In-Time (JIT) System have? - CORRECT ANSWER
Production using JIT reduces a firm's inventory costs.
A JIT system seeks to eliminate anything that does not add value in operations activities.
Which aspect of operations management do the ISO 9000 standards address? - CORRECT ANSWER
Establishment of effective quality systems
Which manufacturing model uses technology to produce small runs of customized products cost
effectively? - CORRECT ANSWER Flexible
Which two of the following distribution channels would take title of the products they handle? -
CORRECT ANSWER Limited-function merchant wholesaler
Full-function merchant wholesaler
Which economic graph is used by organizations to regulate production by predicting the amount of
product buyers will purchase at different prices? - CORRECT ANSWER Demand Curve
Which two factors drive demand in a microeconomic system? - CORRECT ANSWER Price of
substitute goods
Customer preference
, How does a sudden shortage of a commodity product affect the immediate demand for the product at
its current price? - CORRECT ANSWER Demand increases
Which two impacts result from a nation's increase in productivity? - CORRECT ANSWER
Economy expands
Personal wealth increases
For which two purposes will the U.S. Federal Reserve System follow an expansionary monetary
policy? - CORRECT ANSWER To encourage bankers to make loans
To cut the cost of borrowing
Which two economic impacts should a manager anticipate when the U.S. government reduces the
number of Treasury bills, Treasury Notes, and Treasury bonds it sells? - CORRECT ANSWER
A rise of interest rates on these securities
An increase in overall cost of debt to private borrowers
What is one role of a financial manager? - CORRECT ANSWER Analyzing major investment
decisions
Which two activities are finance activities rather than accounting activities? - CORRECT ANSWER
Making capital market investments
Creating a financial plan
Which three sources should a business consider when seeking a long-term funding source? -
CORRECT ANSWER Venture capital
Public sale of stocks
Hedge funds
In which type of security should a business invest its excess cash in anticipation of paying off the
current year's tax liability? - CORRECT ANSWER commerical paper
Assessment Exam UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Which two key elements does an effective organization include? - CORRECT ANSWER
Human Interaction & Structure
Why does a line organization structure function most effectively in a crisis situation? - CORRECT
ANSWER It establishes a direct flow of authority
A company might divide itself into smaller groups that best match the types of customers it serves.
What is this an example of? - CORRECT ANSWER Departmentalization
Which primary driver does management use for an organization's structure? - CORRECT ANSWER
Achievement of company goals
Which step in the organizing process results in management grouping work activities into units within
the organization? - CORRECT ANSWER Departmentalization
A high-tech startup company is launching a marketing campaign for its new social media portal by
highlighting how the portal exceeds the connectivity and collaboration capabilities of all other social
media sites.
Which type of competitive advantage is this company leveraging? - CORRECT ANSWER
product
Which marketing strategy is devoted to maintaining continuous bottom line prices rather than relying
on short-term price-cutting tactics such as cents-off coupons, rebates, and special sales? - CORRECT
ANSWER Everyday Low Pricing
When would a pull promotional strategy enhance a competitive advantage to market a product better
than a push strategy? - CORRECT ANSWER When demand for the product is driven by the
end user
,Which marketing tool is often used to build effective relationship marketing campaigns? - CORRECT
ANSWER Affinity Programs
Which element of the promotional mix has the advantage of messaging that can be tailored for each
customer but the disadvantage of a high cost per contact? - CORRECT ANSWER Personal
Selling
What three factors should be addressed in a successful marketing plan? - CORRECT ANSWER
Target Market, Sales Revenue Goals and Plan Implementation Timeline
Which three characteristics are measured in demographic segmentation? - CORRECT ANSWER
Race & Ethnicity, Income and Household Size
In which three ways does business-buying behavior differ from consumer-buying behavior? -
CORRECT ANSWER A group or committee often makes decisions
Purchasers often invite selected providers to bid on a purchase
Buyers face organizational influences that affect their own preferences
Which three factors suggest a product should be marketed as a specialty product? - CORRECT
ANSWER Priced high
Purchased infrequently
Available from a small number of retail outlets
With which two types of products does a marketing strategy rely on advertising more than personal
selling? - CORRECT ANSWER Accessories to primary products
Consumable supplies
After years of marketing a body lotion, a cosmetics company begins promoting the lotion as an insect
repellent as well.In which three product life cycle extension strategies did this company engage? -
CORRECT ANSWER Adding new users, finding new uses for the product, increasing
frequency of use.
What are three qualities of strong brand equity? - CORRECT ANSWER Awareness, Loyalty
and favorable images
,A customer intends to purchase her favorite cereal. It is out of stock, so she purchases an alternative
brand of cereal instead.Which stage of brand loyalty is this customer in? - CORRECT ANSWER
brand preference
Which manufacturer distribution model is enhanced by the shipping and tracking capabilities of a
global package delivery service? - CORRECT ANSWER Direct
Which three tasks are key responsibilities of operations managers? - CORRECT ANSWER
Planning the overall production process
Determining the best layout for the firm's facilities
Implementing the production plan
Which two characteristics does a Just-In-Time (JIT) System have? - CORRECT ANSWER
Production using JIT reduces a firm's inventory costs.
A JIT system seeks to eliminate anything that does not add value in operations activities.
Which aspect of operations management do the ISO 9000 standards address? - CORRECT ANSWER
Establishment of effective quality systems
Which manufacturing model uses technology to produce small runs of customized products cost
effectively? - CORRECT ANSWER Flexible
Which two of the following distribution channels would take title of the products they handle? -
CORRECT ANSWER Limited-function merchant wholesaler
Full-function merchant wholesaler
Which economic graph is used by organizations to regulate production by predicting the amount of
product buyers will purchase at different prices? - CORRECT ANSWER Demand Curve
Which two factors drive demand in a microeconomic system? - CORRECT ANSWER Price of
substitute goods
Customer preference
, How does a sudden shortage of a commodity product affect the immediate demand for the product at
its current price? - CORRECT ANSWER Demand increases
Which two impacts result from a nation's increase in productivity? - CORRECT ANSWER
Economy expands
Personal wealth increases
For which two purposes will the U.S. Federal Reserve System follow an expansionary monetary
policy? - CORRECT ANSWER To encourage bankers to make loans
To cut the cost of borrowing
Which two economic impacts should a manager anticipate when the U.S. government reduces the
number of Treasury bills, Treasury Notes, and Treasury bonds it sells? - CORRECT ANSWER
A rise of interest rates on these securities
An increase in overall cost of debt to private borrowers
What is one role of a financial manager? - CORRECT ANSWER Analyzing major investment
decisions
Which two activities are finance activities rather than accounting activities? - CORRECT ANSWER
Making capital market investments
Creating a financial plan
Which three sources should a business consider when seeking a long-term funding source? -
CORRECT ANSWER Venture capital
Public sale of stocks
Hedge funds
In which type of security should a business invest its excess cash in anticipation of paying off the
current year's tax liability? - CORRECT ANSWER commerical paper
