NRF BUSINESS OF LATEST
RETAIL
CERTIFICATION
EXAM
employee theft - ANSWERS-employee stealing of cash, including voids,
post voids, and deposits
fraud - ANSWERS-means of stealing by trickery, such as stolen
credit/debit cards, counterfeit money, currency switching, package
switching, refund fraud, refund abuse, stolen or bad checks
lifestyle merchandising - ANSWERS-Staging products by how the
customer will be using the product and creating a display around that
mental picture [similar to suggestive selling].
loss - ANSWERS-when assets of a business are stolen or lost due to
error. Categories of loss are "shortage" or "other". shortage is loss due to
shoplifting, employee theft, and employee inventory. other loss is when
assets other than merchandise are missing. such as cash or equipment.
this may be due to credit/debit card fraud (customer dishonesty), cash
over or short, stolen or bad checks, safety issues (causing workman's
comp, lawsuits, medical bills)
END OF
PAGE
1
, NRF BUSINESS OF LATEST
RETAIL
CERTIFICATION
EXAM
Loss Prevention - ANSWERS-Preventing the Loss Of inventory or
merchandise due to shoplifting, employee theft, or employee error.
merchandising - ANSWERS-The art and science of presenting the
products you sell in the most attractive way possible in order to generate
traffic, create Interest and buzz, and generate sales.
packing slip - ANSWERS-A list of the quantity and type of merchandise
that the vendor sends to a store. The vendor or distribution center will
normally include the packing slip with the requested merchandise at the
time of shipment.
physical inventory - ANSWERS-a physical count of every piece of
merchandise in the store, creating a record of the store's inventory at a
specific point in time
planogram - ANSWERS-visual map that shows shelf heights,
merchandise and signage placement that maximizes the display space
END OF
PAGE
2
, NRF BUSINESS OF LATEST
RETAIL
CERTIFICATION
EXAM
Pre-priced inventory: - ANSWERS-When merchandise arrives at the
store with price tags already attached and can be placed on the floor as
soon as it's checked in.
purchase order - ANSWERS-a detailed list of vendor items requested by
the store. it will list the sizes, colors, models, etc., as well as the number
of each item requested. purchase orders are sent to vendor or store
distribution center to request shipment of merchandise
shoplifting - ANSWERS-carrying, hiding, concealing, or otherwise
manipulating merchandise with the intent of taking it or paying less for
it
shortage - ANSWERS-commonly referred to as shrink or shrinkage
because a retailer's inventory literally shrinks in size when it is reduced
by theft or can't be accounted for due to employee error
shrink/shrinkage - ANSWERS-Loss caused by shoplifting, employee
theft, and employee error. It is the difference between the amount of
END OF
PAGE
3
RETAIL
CERTIFICATION
EXAM
employee theft - ANSWERS-employee stealing of cash, including voids,
post voids, and deposits
fraud - ANSWERS-means of stealing by trickery, such as stolen
credit/debit cards, counterfeit money, currency switching, package
switching, refund fraud, refund abuse, stolen or bad checks
lifestyle merchandising - ANSWERS-Staging products by how the
customer will be using the product and creating a display around that
mental picture [similar to suggestive selling].
loss - ANSWERS-when assets of a business are stolen or lost due to
error. Categories of loss are "shortage" or "other". shortage is loss due to
shoplifting, employee theft, and employee inventory. other loss is when
assets other than merchandise are missing. such as cash or equipment.
this may be due to credit/debit card fraud (customer dishonesty), cash
over or short, stolen or bad checks, safety issues (causing workman's
comp, lawsuits, medical bills)
END OF
PAGE
1
, NRF BUSINESS OF LATEST
RETAIL
CERTIFICATION
EXAM
Loss Prevention - ANSWERS-Preventing the Loss Of inventory or
merchandise due to shoplifting, employee theft, or employee error.
merchandising - ANSWERS-The art and science of presenting the
products you sell in the most attractive way possible in order to generate
traffic, create Interest and buzz, and generate sales.
packing slip - ANSWERS-A list of the quantity and type of merchandise
that the vendor sends to a store. The vendor or distribution center will
normally include the packing slip with the requested merchandise at the
time of shipment.
physical inventory - ANSWERS-a physical count of every piece of
merchandise in the store, creating a record of the store's inventory at a
specific point in time
planogram - ANSWERS-visual map that shows shelf heights,
merchandise and signage placement that maximizes the display space
END OF
PAGE
2
, NRF BUSINESS OF LATEST
RETAIL
CERTIFICATION
EXAM
Pre-priced inventory: - ANSWERS-When merchandise arrives at the
store with price tags already attached and can be placed on the floor as
soon as it's checked in.
purchase order - ANSWERS-a detailed list of vendor items requested by
the store. it will list the sizes, colors, models, etc., as well as the number
of each item requested. purchase orders are sent to vendor or store
distribution center to request shipment of merchandise
shoplifting - ANSWERS-carrying, hiding, concealing, or otherwise
manipulating merchandise with the intent of taking it or paying less for
it
shortage - ANSWERS-commonly referred to as shrink or shrinkage
because a retailer's inventory literally shrinks in size when it is reduced
by theft or can't be accounted for due to employee error
shrink/shrinkage - ANSWERS-Loss caused by shoplifting, employee
theft, and employee error. It is the difference between the amount of
END OF
PAGE
3
