GMETRIX Entrepreneurship and Small
Business Session 1 Post assessment
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Which entrepreneurial trait best deals with ambiguity - CORRECT ANSWER - Patience
Todd wants to open a golf shop. Todd does not have and collateral except for his Ford Pinto.
Upon attempting to secure financing from a bank, Todd is rejected for lack of collateral. Todd
then turns to private investors in an effort to get the business started. When entrepreneurial
characteristic is Todd exhibiting. - CORRECT ANSWER - flexibility
Besides defining strengths and weaknesses, what is the other main factor determining during a
self-assessment. - CORRECT ANSWER - Risk strength
After doing a self-assessment, peter realizes he wants to start a plumbing, but doesn't want to risk
a lot of his own money. What would be his best option. - CORRECT ANSWER - Purchase
an existing business
Donnie is new to a town that does not have a doggie day care facility. Upon researching the
situation, Donnie decides to open a doggie day care facility. Which marketing option for this
new business should be a point of emphasis. - CORRECT ANSWER - Location
Fran works for a flooring company in a neighboring town. Many of Fran's customers complain
about lack of available flooring companies in the area and that these companies, the prices are
too high. Should Fran decide to open a flooring business, what can be a good marketing strategy.
- CORRECT ANSWER - lower prices
Which are considered risks being an entrepreneur? Choose three answers. - CORRECT
ANSWER - Financial instability, Long hours, Possible business failure
Business Session 1 Post assessment
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Which entrepreneurial trait best deals with ambiguity - CORRECT ANSWER - Patience
Todd wants to open a golf shop. Todd does not have and collateral except for his Ford Pinto.
Upon attempting to secure financing from a bank, Todd is rejected for lack of collateral. Todd
then turns to private investors in an effort to get the business started. When entrepreneurial
characteristic is Todd exhibiting. - CORRECT ANSWER - flexibility
Besides defining strengths and weaknesses, what is the other main factor determining during a
self-assessment. - CORRECT ANSWER - Risk strength
After doing a self-assessment, peter realizes he wants to start a plumbing, but doesn't want to risk
a lot of his own money. What would be his best option. - CORRECT ANSWER - Purchase
an existing business
Donnie is new to a town that does not have a doggie day care facility. Upon researching the
situation, Donnie decides to open a doggie day care facility. Which marketing option for this
new business should be a point of emphasis. - CORRECT ANSWER - Location
Fran works for a flooring company in a neighboring town. Many of Fran's customers complain
about lack of available flooring companies in the area and that these companies, the prices are
too high. Should Fran decide to open a flooring business, what can be a good marketing strategy.
- CORRECT ANSWER - lower prices
Which are considered risks being an entrepreneur? Choose three answers. - CORRECT
ANSWER - Financial instability, Long hours, Possible business failure
