NRF Retail Industry Fundamentals
UPDATED ACTUAL Exam Questions and
CORRECT Answers
A retail business, owned by shareholders and have centralized decision making for their multiple
store locations is called - CORRECT ANSWER -corporation
In the retail product cycle, what step comes after distribution and products? - CORRECT
ANSWER -selling
What item is a retail product - CORRECT ANSWER -car tire
A large facility that manufacturers sent large quantities of product to then distributed to stores is
called - CORRECT ANSWER -distribution center
The period key term in retail for a period fo time that an item remains usable, or fir for
consumption is called: - CORRECT ANSWER -shelf life
Customers of a popular shoe store chain can purchase items in-store and on-line or via their
mobile app. the customer also receives texts and emails about current promotions and sales. This
is an example of: - CORRECT ANSWER -Omni-channel retailing
What's considered a retail service? - CORRECT ANSWER -car wash
Merchandise without an expiration date like electronics, tools and home goods typically have
longer - CORRECT ANSWER -shelf life
The repetitive cycle that occurs with retailers in regard to product assortment is called: -
CORRECT ANSWER -the retail product cycle
UPDATED ACTUAL Exam Questions and
CORRECT Answers
A retail business, owned by shareholders and have centralized decision making for their multiple
store locations is called - CORRECT ANSWER -corporation
In the retail product cycle, what step comes after distribution and products? - CORRECT
ANSWER -selling
What item is a retail product - CORRECT ANSWER -car tire
A large facility that manufacturers sent large quantities of product to then distributed to stores is
called - CORRECT ANSWER -distribution center
The period key term in retail for a period fo time that an item remains usable, or fir for
consumption is called: - CORRECT ANSWER -shelf life
Customers of a popular shoe store chain can purchase items in-store and on-line or via their
mobile app. the customer also receives texts and emails about current promotions and sales. This
is an example of: - CORRECT ANSWER -Omni-channel retailing
What's considered a retail service? - CORRECT ANSWER -car wash
Merchandise without an expiration date like electronics, tools and home goods typically have
longer - CORRECT ANSWER -shelf life
The repetitive cycle that occurs with retailers in regard to product assortment is called: -
CORRECT ANSWER -the retail product cycle
