ESB Practice Exam Questions and
Answers 100% Pass
T/F Trademark licensing is used for brand names, logos, or slogans - ✔✔True
This segment describes the benefits to customers based on their wants or needs and
how they use the product - ✔✔Behavioral
T/F Trade secret licensing must be registered with the gov - ✔✔True
T/F The design thinking process places a high emphasis on developing customer
empathy - ✔✔True
T/F The design thinking process aims to develop solutions to problems - ✔✔True
You want to buy a gift shop in a popular location within a large town. Which three
factors will help you determine if the business opportunity is viable? - ✔✔- Financing
requirements
- Revenues and cost
- Market Size
T/F Affiliate sales programs offer commissions to companies who sell their products -
✔✔True
Which two marketing platforms are examples of owned media - ✔✔- Websites
- Blogs
COPYRIGHT © 2025 BY KATELYN WHITMAN, ALL RIGHTS RESERVED 1
, What does a CFO (chief financial officer) do? - ✔✔Creates budgets and financial
strategies
(CEO- chief executive officer, CIO-chief information officer, COO- chief operating
officer)
Which two services does direct distribution provide that fulfilment centers do not - ✔✔-
Product marketing
- Product manufacturing
T/F The design thinking process aims to develop a product based on the designer's
needs - ✔✔False
T/F Fixed cost are expenses that have to be paid by the company, regardless of changes
in revenue - ✔✔True
T/F An S corp, is suitable for internal companies with at least 100 shareholders -
✔✔Flase
T/F Variable cost depend on the increase or decrease in the amount or services a
product has sold - ✔✔True
T/F Value engineering changes the purpose of the product - ✔✔False
What is the fist step in forming a product/ market fit hypothesis - ✔✔- Determine who
the target customer is
You need to invest in a business that has a simple transactions, low inventory cost, and
fast, free, product delivery - ✔✔A business that sells digital product
T/F A non profit org. is taxed - ✔✔False
T/F Copyright licensing is required for material in the public domain - ✔✔False
COPYRIGHT © 2025 BY KATELYN WHITMAN, ALL RIGHTS RESERVED 2
Answers 100% Pass
T/F Trademark licensing is used for brand names, logos, or slogans - ✔✔True
This segment describes the benefits to customers based on their wants or needs and
how they use the product - ✔✔Behavioral
T/F Trade secret licensing must be registered with the gov - ✔✔True
T/F The design thinking process places a high emphasis on developing customer
empathy - ✔✔True
T/F The design thinking process aims to develop solutions to problems - ✔✔True
You want to buy a gift shop in a popular location within a large town. Which three
factors will help you determine if the business opportunity is viable? - ✔✔- Financing
requirements
- Revenues and cost
- Market Size
T/F Affiliate sales programs offer commissions to companies who sell their products -
✔✔True
Which two marketing platforms are examples of owned media - ✔✔- Websites
- Blogs
COPYRIGHT © 2025 BY KATELYN WHITMAN, ALL RIGHTS RESERVED 1
, What does a CFO (chief financial officer) do? - ✔✔Creates budgets and financial
strategies
(CEO- chief executive officer, CIO-chief information officer, COO- chief operating
officer)
Which two services does direct distribution provide that fulfilment centers do not - ✔✔-
Product marketing
- Product manufacturing
T/F The design thinking process aims to develop a product based on the designer's
needs - ✔✔False
T/F Fixed cost are expenses that have to be paid by the company, regardless of changes
in revenue - ✔✔True
T/F An S corp, is suitable for internal companies with at least 100 shareholders -
✔✔Flase
T/F Variable cost depend on the increase or decrease in the amount or services a
product has sold - ✔✔True
T/F Value engineering changes the purpose of the product - ✔✔False
What is the fist step in forming a product/ market fit hypothesis - ✔✔- Determine who
the target customer is
You need to invest in a business that has a simple transactions, low inventory cost, and
fast, free, product delivery - ✔✔A business that sells digital product
T/F A non profit org. is taxed - ✔✔False
T/F Copyright licensing is required for material in the public domain - ✔✔False
COPYRIGHT © 2025 BY KATELYN WHITMAN, ALL RIGHTS RESERVED 2
