ESB EXAM Study Guide Questions And Answers
Flexibility - -Ability to adapt, willingness to
change Which are three risks of entrepreneurship? -
-Long hours, potential business failure,
financial insecurity
Courage - -Takes risks in spite of possible
losses
Gabe has worked as a journeyman electrician for
an employer for the past 16 years. He is paid a
Empathy - -Sensitive to thoughts and good salary. His only dissatisfaction is the hours
feelings of others are long and often when he requests time off he
is denied because of customer workload.
Which benefit of entrepreneurship will Gabe most
What are three characteristics of entrepreneurs? enjoy? - -Autonomy
- -Creativity, Determination, Enthusiasm
What is a primary benefit of starting a new
After a self-assessment, a potential entrepreneur business without purchasing a franchise or
has learned that she has a very low risk buying an existing business? - -Developing
tolerance. Based upon this finding, which your own rules
approach might be less stressful for the
entrepreneur to have her own business? -
-Buy an existing business that is already A mechanic just graduated from motorcycle
successful. repair school and wants to start a business
because there is a lack of motorcycle repair
shops in the local town. Given the facts provided,
An entrepreneur moves into a small town and which opportunity would be the best choice for
notices several stores selling guns and the motorcycle mechanic to open a business? -
ammunition. The entrepreneur loves to compete -Start a new business and invest $50,000
in competitive shooting events. Based on the in modern diagnostic tools.
scenario provided, what should be emphasized
in marketing to attract customers? - -
Location An entrepreneur who has a hobby in leathercraft
wants to turn it into a business. She wants to sell
purses, belts, and other leathercrafts from her
An entrepreneur has been working for a flooring home. Which opportunity for starting a
business in a neighboring town. He feels he is leathercraft business would have the highest
ready to open his own flooring business in his probability of success? - -Build an online
local community. Which should be emphasized in storefront
marketing to attract customers to his new
business? - -Lower Prices
Based upon the education and skills gained from
the years of vocational training as an auto
Which is one of the greatest benefits of mechanic, as well as having grown up in a family
of entrepreneurs, a young adult decides to open
entrepreneurship? - -Being your own boss
an auto mechanic shop. Which customer group
, ESB EXAM Study Guide Questions And Answers
will this new auto mechanic business support? - Terminates upon death of a partner - -
-Businesses General or Limited Partnership
The owner of a pizza delivery business is Double-taxed, but best for international
seeking new customers. The owner has businesses - -C Corporation
identified a group of potential customers that
have moved into some new housing within
reaches of his drivers. Which method of Similar to a C Corporation, but taxed at a lower
segmentation is the owner using? - - rate - -S Corporation
Geographic
Owned by no one; pays no U.S federal tax -
A child daycare center needs to identify a value -Nonprofit Corporation
of proposition that will help parents feel secure
about using their services. Which two initiatives
meets this objective? - -Providing live web Best for a single member seeking low risk -
cams parents can access from the Internet by -Limited Liability Company
using a secure logon. Offering a list of references
from other parents
The partners of an awning repair shop are
assessing the amount of money needed to start a
The owner of a pet daycare is presenting a plan business at a new location. The partners have
to investors to expand the facility and promises calculating that the business will generate more
the center will meet the needs of customers with than enough revenue to cover monthly expenses
a variety of schedules. What is a legitimate value after its second month in operation. What is the
proposition for potential customers? - - amount of start-up capital the partners will need
Providing extended hours to pickup and drop off to open the new awning repair business? -
pets before and after work -$84,920
Which two groups benefit most from a well- The owner of a mobile food truck plans to sell
written business plan? - -Business owner tacos, hamburgers, and other foods to
Investors employees in a large office complex. Before
opening his business, the owner will most likely
need to obtain which of the following documents
Which of the following should be addressed in from each employee to verify they have
the description section of a business plan? - completed a course in food handling safety? -
-Target Markets -Certificate
Easy to setup, but has unlimited liability. - - An individual starts a babysitting business with a
Sole Proprietorship loan of $1000. The loan is for 2 years at a 5%
COMPOUND interest rate. How much will the
individual owe by the end of the loan assuming
Flexibility - -Ability to adapt, willingness to
change Which are three risks of entrepreneurship? -
-Long hours, potential business failure,
financial insecurity
Courage - -Takes risks in spite of possible
losses
Gabe has worked as a journeyman electrician for
an employer for the past 16 years. He is paid a
Empathy - -Sensitive to thoughts and good salary. His only dissatisfaction is the hours
feelings of others are long and often when he requests time off he
is denied because of customer workload.
Which benefit of entrepreneurship will Gabe most
What are three characteristics of entrepreneurs? enjoy? - -Autonomy
- -Creativity, Determination, Enthusiasm
What is a primary benefit of starting a new
After a self-assessment, a potential entrepreneur business without purchasing a franchise or
has learned that she has a very low risk buying an existing business? - -Developing
tolerance. Based upon this finding, which your own rules
approach might be less stressful for the
entrepreneur to have her own business? -
-Buy an existing business that is already A mechanic just graduated from motorcycle
successful. repair school and wants to start a business
because there is a lack of motorcycle repair
shops in the local town. Given the facts provided,
An entrepreneur moves into a small town and which opportunity would be the best choice for
notices several stores selling guns and the motorcycle mechanic to open a business? -
ammunition. The entrepreneur loves to compete -Start a new business and invest $50,000
in competitive shooting events. Based on the in modern diagnostic tools.
scenario provided, what should be emphasized
in marketing to attract customers? - -
Location An entrepreneur who has a hobby in leathercraft
wants to turn it into a business. She wants to sell
purses, belts, and other leathercrafts from her
An entrepreneur has been working for a flooring home. Which opportunity for starting a
business in a neighboring town. He feels he is leathercraft business would have the highest
ready to open his own flooring business in his probability of success? - -Build an online
local community. Which should be emphasized in storefront
marketing to attract customers to his new
business? - -Lower Prices
Based upon the education and skills gained from
the years of vocational training as an auto
Which is one of the greatest benefits of mechanic, as well as having grown up in a family
of entrepreneurs, a young adult decides to open
entrepreneurship? - -Being your own boss
an auto mechanic shop. Which customer group
, ESB EXAM Study Guide Questions And Answers
will this new auto mechanic business support? - Terminates upon death of a partner - -
-Businesses General or Limited Partnership
The owner of a pizza delivery business is Double-taxed, but best for international
seeking new customers. The owner has businesses - -C Corporation
identified a group of potential customers that
have moved into some new housing within
reaches of his drivers. Which method of Similar to a C Corporation, but taxed at a lower
segmentation is the owner using? - - rate - -S Corporation
Geographic
Owned by no one; pays no U.S federal tax -
A child daycare center needs to identify a value -Nonprofit Corporation
of proposition that will help parents feel secure
about using their services. Which two initiatives
meets this objective? - -Providing live web Best for a single member seeking low risk -
cams parents can access from the Internet by -Limited Liability Company
using a secure logon. Offering a list of references
from other parents
The partners of an awning repair shop are
assessing the amount of money needed to start a
The owner of a pet daycare is presenting a plan business at a new location. The partners have
to investors to expand the facility and promises calculating that the business will generate more
the center will meet the needs of customers with than enough revenue to cover monthly expenses
a variety of schedules. What is a legitimate value after its second month in operation. What is the
proposition for potential customers? - - amount of start-up capital the partners will need
Providing extended hours to pickup and drop off to open the new awning repair business? -
pets before and after work -$84,920
Which two groups benefit most from a well- The owner of a mobile food truck plans to sell
written business plan? - -Business owner tacos, hamburgers, and other foods to
Investors employees in a large office complex. Before
opening his business, the owner will most likely
need to obtain which of the following documents
Which of the following should be addressed in from each employee to verify they have
the description section of a business plan? - completed a course in food handling safety? -
-Target Markets -Certificate
Easy to setup, but has unlimited liability. - - An individual starts a babysitting business with a
Sole Proprietorship loan of $1000. The loan is for 2 years at a 5%
COMPOUND interest rate. How much will the
individual owe by the end of the loan assuming
