CPSM Exam Practice Questions and Answers
1. An advantage to conducting secondary research
is: a.it is proprietary
b.first-hand reliability
c.cost effective
d.it is focused on a specific market segment: c
2. An effective network can save substantial time
by: a.designing a firm's marketing strategy
b.validating information on clients and projects
c.providing coverage when a firm is understaffed
d.providing information on fees: b
3. Secondary research consists of:
a. conducting personal interviews with clients, vendors, and community
lead-ers
b. collecting demographic and economic statistics
c. writing the primary research evaluation
d. mailing written surveys to existing clients: b
4. Primary research is:
a. conducted before other types of research
b. easier to conduct and less expensive than secondary research
c. original research that you conduct or hire someone to conduct
d. better for gathering factual data than secondary research: c
5. A SWOT analysis is:
a.strengths, weaknesses, opposition, and threats
b.strengths, weaknesses, opportunities, and
tactics c.strengths, wins, options, and tactics
d.strengths, weaknesses, opportunities, and direct market threats: d
6. What are the phases of a goods and services
lifecycle? a.toddler, teenager, adult, senior
b.emerging, expansion, extinction
c.development, expansion, maturity, extinction
d.development, growth, maturity, decline: d
7. Which of the following does not describe one of the main forces or
trends that drives the market?
a.economics - including availability of capital, interest rates and
consumer confidence
b.demographics - including changes in age, income and/or distribution
c.competition - how many firms are already serving the market
d.technology - what is needed and/or desired by users in the market: c
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, CPSM Practice
8. Which of the following is an example of qualitative research? a.survey
on size and number of medical simulation centers b.report on types of
new technology used in simulation centers c.focus group with med
students who have trained in a simulation center d.listing of all medical
simulation centers in a region: c
9. To avoid "groupthink" within a forecasting scanning team, it is
necessary that the team be:
a.diverse in race, age, gender, and market
segment b.members of the same technical
discipline c.senior leadership
d.marketing personnel: a
10. Open-ended questions is an element of what kind of
research? a.qualitative
b.quantitative
c.primary
d.secondary: a
11. What is evidence-based marketing?
a.marketing using reference letters
b.providing evidence that your client was satisfied
c.providing proof of results, improved outcomes and increased
credibility d.boasting about your firm: c
12. RSS stands for: a.Real
Speedy Standards b.Random
Standard Syndication c.Random
Simple Standards d.Real Simple
Syndication: d
13. You heard that a competing firm was shortlisted on a project within one
of your target markets, what could this be a source of?
a.indirect marketing costs
b.competitive intelligence
c.benchmarking d.client
feedback: c
14. A prerequisite to developing a marketing research plan is to:
a.look inward at your own firm (work you have done, market sectors you
are currently in, sectors and geography you wish to be in)
b.perform a full SWOT analysis for every sector you do work
in c.talk to every one of your clients in person d.scour the
internet for research plan outlines: a
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, CPSM Practice
15. Which of the following is not a Phase included in Theodore Levitt's theory
on the Life Expectancy of Products & Services?
a.maturity
b.growth
c.decline
d.volume: d
16. Which two most important aspects of market research should you
focus on to develop marketing strategies?
a.the work that is out there and whether the markets you're in will continue to
be sources of work
b.the work that is out there and the work your competitors have
c.the work that is out there and the amount of that work your firm has
d.the work your competitors have and where your firm may want to open
future offices: a
17. Theodore Levitt's theory of the life expectancy of all products and
services states that new markets start to emerge when:
a.development phase
b.growth phase
c.maturity phase
d.decline phase: a
18. Which of the following is an example of qualitative research?
a.focus group consisting of discussion with your firm's retail building clients
b.surveys results from a professional services organization
c.analytics on the growth of retail buildings from a local
newspaper d.social media analytics: a
19. Which of the following is a method of ethical reasoning related to
market-ing research?
a. value
b. validity
c. rights
d. principles: c
20. The utility approach to ethical research asks the researcher to make
deci-sions based on:
a. the total benefits vs cost to all the people affected either directly or
indirect-ly
b. the cost and benefits to be spread equally among those effected by
the decision
c. places the emphasis on individual welfare
d. places the emphasis on geography of where people live: a
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, CPSM Practice
21. A person will take a telephone survey if they believe it will take 15 to 30
minutes. How much time will they be willing to spend on an online
survey? a.2-3 minutes
b.5-10 minutes
c.15-30 minutes
d.One hour or less: b
22. The most important thing to define before you start any research
is: a.what you want to do and is it feasible
b.who will format the results c.how you
will present the results d.which clients
you will be interviewing: a
23. The formula for budgeting your market research is B=K x R x 1/F, where
R stands for:
a. ROI
b. reduction in failure
rate c. profit
d. revenue: b
24. As a rule of thumb, a minimum reasonable number of completed
surveys or interviews in any cross-tabulated group is:
a. 25 b.
50 c.
100 d.
200: a
25. What is the best sample size for conducting telephone interview
surveys? a. 1-12
b. 25-150
c. 100-200
d. 2,000-3,000: b
26. What are some benefits gained using Evidence Based Marketing? Bene-
fits of creating Evidence-Based Marketing include gaining original
research, developing brand recognition, and:
a. narrowing the competitive field
b. clearing identifying your strengths
c. identifying new market sectors to pursue
d. positioning your firm as an expert in the field: d
27. What is the main drawback of conducting in-person interviews vs.
tele-phone interviews?
a. similar cost per interview
b. time consuming
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1. An advantage to conducting secondary research
is: a.it is proprietary
b.first-hand reliability
c.cost effective
d.it is focused on a specific market segment: c
2. An effective network can save substantial time
by: a.designing a firm's marketing strategy
b.validating information on clients and projects
c.providing coverage when a firm is understaffed
d.providing information on fees: b
3. Secondary research consists of:
a. conducting personal interviews with clients, vendors, and community
lead-ers
b. collecting demographic and economic statistics
c. writing the primary research evaluation
d. mailing written surveys to existing clients: b
4. Primary research is:
a. conducted before other types of research
b. easier to conduct and less expensive than secondary research
c. original research that you conduct or hire someone to conduct
d. better for gathering factual data than secondary research: c
5. A SWOT analysis is:
a.strengths, weaknesses, opposition, and threats
b.strengths, weaknesses, opportunities, and
tactics c.strengths, wins, options, and tactics
d.strengths, weaknesses, opportunities, and direct market threats: d
6. What are the phases of a goods and services
lifecycle? a.toddler, teenager, adult, senior
b.emerging, expansion, extinction
c.development, expansion, maturity, extinction
d.development, growth, maturity, decline: d
7. Which of the following does not describe one of the main forces or
trends that drives the market?
a.economics - including availability of capital, interest rates and
consumer confidence
b.demographics - including changes in age, income and/or distribution
c.competition - how many firms are already serving the market
d.technology - what is needed and/or desired by users in the market: c
1/52
, CPSM Practice
8. Which of the following is an example of qualitative research? a.survey
on size and number of medical simulation centers b.report on types of
new technology used in simulation centers c.focus group with med
students who have trained in a simulation center d.listing of all medical
simulation centers in a region: c
9. To avoid "groupthink" within a forecasting scanning team, it is
necessary that the team be:
a.diverse in race, age, gender, and market
segment b.members of the same technical
discipline c.senior leadership
d.marketing personnel: a
10. Open-ended questions is an element of what kind of
research? a.qualitative
b.quantitative
c.primary
d.secondary: a
11. What is evidence-based marketing?
a.marketing using reference letters
b.providing evidence that your client was satisfied
c.providing proof of results, improved outcomes and increased
credibility d.boasting about your firm: c
12. RSS stands for: a.Real
Speedy Standards b.Random
Standard Syndication c.Random
Simple Standards d.Real Simple
Syndication: d
13. You heard that a competing firm was shortlisted on a project within one
of your target markets, what could this be a source of?
a.indirect marketing costs
b.competitive intelligence
c.benchmarking d.client
feedback: c
14. A prerequisite to developing a marketing research plan is to:
a.look inward at your own firm (work you have done, market sectors you
are currently in, sectors and geography you wish to be in)
b.perform a full SWOT analysis for every sector you do work
in c.talk to every one of your clients in person d.scour the
internet for research plan outlines: a
2/52
, CPSM Practice
15. Which of the following is not a Phase included in Theodore Levitt's theory
on the Life Expectancy of Products & Services?
a.maturity
b.growth
c.decline
d.volume: d
16. Which two most important aspects of market research should you
focus on to develop marketing strategies?
a.the work that is out there and whether the markets you're in will continue to
be sources of work
b.the work that is out there and the work your competitors have
c.the work that is out there and the amount of that work your firm has
d.the work your competitors have and where your firm may want to open
future offices: a
17. Theodore Levitt's theory of the life expectancy of all products and
services states that new markets start to emerge when:
a.development phase
b.growth phase
c.maturity phase
d.decline phase: a
18. Which of the following is an example of qualitative research?
a.focus group consisting of discussion with your firm's retail building clients
b.surveys results from a professional services organization
c.analytics on the growth of retail buildings from a local
newspaper d.social media analytics: a
19. Which of the following is a method of ethical reasoning related to
market-ing research?
a. value
b. validity
c. rights
d. principles: c
20. The utility approach to ethical research asks the researcher to make
deci-sions based on:
a. the total benefits vs cost to all the people affected either directly or
indirect-ly
b. the cost and benefits to be spread equally among those effected by
the decision
c. places the emphasis on individual welfare
d. places the emphasis on geography of where people live: a
3/52
, CPSM Practice
21. A person will take a telephone survey if they believe it will take 15 to 30
minutes. How much time will they be willing to spend on an online
survey? a.2-3 minutes
b.5-10 minutes
c.15-30 minutes
d.One hour or less: b
22. The most important thing to define before you start any research
is: a.what you want to do and is it feasible
b.who will format the results c.how you
will present the results d.which clients
you will be interviewing: a
23. The formula for budgeting your market research is B=K x R x 1/F, where
R stands for:
a. ROI
b. reduction in failure
rate c. profit
d. revenue: b
24. As a rule of thumb, a minimum reasonable number of completed
surveys or interviews in any cross-tabulated group is:
a. 25 b.
50 c.
100 d.
200: a
25. What is the best sample size for conducting telephone interview
surveys? a. 1-12
b. 25-150
c. 100-200
d. 2,000-3,000: b
26. What are some benefits gained using Evidence Based Marketing? Bene-
fits of creating Evidence-Based Marketing include gaining original
research, developing brand recognition, and:
a. narrowing the competitive field
b. clearing identifying your strengths
c. identifying new market sectors to pursue
d. positioning your firm as an expert in the field: d
27. What is the main drawback of conducting in-person interviews vs.
tele-phone interviews?
a. similar cost per interview
b. time consuming
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