CERTIFICATION STUDY GUIDE 2026 EXAM QUESTIONS
AND ANSWERS SURE A+
✔✔Which two groups benefit most from a well-written business plan? - ✔✔Business
owner
Investors
✔✔Which of the following should be addressed in the description section of a business
plan? - ✔✔Target Markets
✔✔Easy to setup, but has unlimited liability. - ✔✔Sole Proprietorship
✔✔Terminates upon death of a partner - ✔✔General or Limited Partnership
✔✔Double-taxed, but best for international businesses - ✔✔C Corporation
✔✔Similar to a C Corporation, but taxed at a lower rate - ✔✔S Corporation
✔✔Owned by no one; pays no U.S federal tax - ✔✔Nonprofit Corporation
✔✔Best for a single member seeking low risk - ✔✔Limited Liability Company
✔✔The partners of an awning repair shop are assessing the amount of money needed
to start a business at a new location. The partners have calculating that the business
will generate more than enough revenue to cover monthly expenses after its second
month in operation. What is the amount of start-up capital the partners will need to open
the new awning repair business? - ✔✔$84,920
✔✔The owner of a mobile food truck plans to sell tacos, hamburgers, and other foods to
employees in a large office complex. Before opening his business, the owner will most
likely need to obtain which of the following documents from each employee to verify
they have completed a course in food handling safety? - ✔✔Certificate
✔✔An individual starts a babysitting business with a 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 nothing is paid until the end of the 2 years term. - ✔✔$1,102.50
✔✔A carpenter wants to start his own business building custom cabinets. Unfortunately,
he has no business training and needs assistance writing a business plan, finding
funding, and obtaining general advice. Which agency should the carpenter utilize? -
✔✔SBA
✔✔A software development consultant works with several clients. Some of the clients
are competitors. What is a consequence if the consultant violates confidentiality by
, discussing a client's project with another client? - ✔✔Loss of clients and possible
lawsuit
✔✔Exchanging ownership for cash, either by acquisition or merger - ✔✔Harvesting
✔✔Transferring ownership to people who already operate the business -
✔✔Management Buyout
✔✔A business owner sells ownership to a retirement fund for the employees -
✔✔Employee Stock Ownership Plan (ESOP)
✔✔Dividing ownership of a privately held company into shares sold to the public -
✔✔Initial Public Offering (IPO)
✔✔The owner of a popular seafood restaurant needs to hire a new chef - ✔✔1. Identify
the skills required of the new chef
2. Write the job description, including minimum and desired requirements
3. Post an ad in places most likely to be viewed by qualified candidates
4. Accept and review applications to assess the most qualified candidate
✔✔A successful software trainer has decided to open a corporate training business.
The software trainer is putting together an organizational chair and assessing what job
roles will be needed. What are some of the expected roles of those employees on the
highest level of the organizational chart? - ✔✔Developing succession plans and building
a board of advisors
✔✔An interior designer has learned the she must pay-self employment tax on her
individual earnings. Which type of legal structure must pay self-employment tax? -
✔✔Sole proprietorship
✔✔An entrepreneur was building a website for a new dog grooming business. Through
internet searches, the entrepreneur found many pictures to use on the new business's
website. Which type of intellectual property protection is at issue in this example? -
✔✔Copyright
✔✔An entrepreneur notices new demand for products featuring characters from a
recent movie. The entrepreneur finds a manufacturer of kitchen products featuring these
character. Based on the scenario provided, what should be a primary concern of this
entrepreneur? - ✔✔Reliability of supply
✔✔A family owns a tractor sales and supply store. Over the past decade sales of large
tractors and implements have decreased as many of the old farms in the community
have sold and been subdivided into smaller residential hobby farms. Given the facts
AND ANSWERS SURE A+
✔✔Which two groups benefit most from a well-written business plan? - ✔✔Business
owner
Investors
✔✔Which of the following should be addressed in the description section of a business
plan? - ✔✔Target Markets
✔✔Easy to setup, but has unlimited liability. - ✔✔Sole Proprietorship
✔✔Terminates upon death of a partner - ✔✔General or Limited Partnership
✔✔Double-taxed, but best for international businesses - ✔✔C Corporation
✔✔Similar to a C Corporation, but taxed at a lower rate - ✔✔S Corporation
✔✔Owned by no one; pays no U.S federal tax - ✔✔Nonprofit Corporation
✔✔Best for a single member seeking low risk - ✔✔Limited Liability Company
✔✔The partners of an awning repair shop are assessing the amount of money needed
to start a business at a new location. The partners have calculating that the business
will generate more than enough revenue to cover monthly expenses after its second
month in operation. What is the amount of start-up capital the partners will need to open
the new awning repair business? - ✔✔$84,920
✔✔The owner of a mobile food truck plans to sell tacos, hamburgers, and other foods to
employees in a large office complex. Before opening his business, the owner will most
likely need to obtain which of the following documents from each employee to verify
they have completed a course in food handling safety? - ✔✔Certificate
✔✔An individual starts a babysitting business with a 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 nothing is paid until the end of the 2 years term. - ✔✔$1,102.50
✔✔A carpenter wants to start his own business building custom cabinets. Unfortunately,
he has no business training and needs assistance writing a business plan, finding
funding, and obtaining general advice. Which agency should the carpenter utilize? -
✔✔SBA
✔✔A software development consultant works with several clients. Some of the clients
are competitors. What is a consequence if the consultant violates confidentiality by
, discussing a client's project with another client? - ✔✔Loss of clients and possible
lawsuit
✔✔Exchanging ownership for cash, either by acquisition or merger - ✔✔Harvesting
✔✔Transferring ownership to people who already operate the business -
✔✔Management Buyout
✔✔A business owner sells ownership to a retirement fund for the employees -
✔✔Employee Stock Ownership Plan (ESOP)
✔✔Dividing ownership of a privately held company into shares sold to the public -
✔✔Initial Public Offering (IPO)
✔✔The owner of a popular seafood restaurant needs to hire a new chef - ✔✔1. Identify
the skills required of the new chef
2. Write the job description, including minimum and desired requirements
3. Post an ad in places most likely to be viewed by qualified candidates
4. Accept and review applications to assess the most qualified candidate
✔✔A successful software trainer has decided to open a corporate training business.
The software trainer is putting together an organizational chair and assessing what job
roles will be needed. What are some of the expected roles of those employees on the
highest level of the organizational chart? - ✔✔Developing succession plans and building
a board of advisors
✔✔An interior designer has learned the she must pay-self employment tax on her
individual earnings. Which type of legal structure must pay self-employment tax? -
✔✔Sole proprietorship
✔✔An entrepreneur was building a website for a new dog grooming business. Through
internet searches, the entrepreneur found many pictures to use on the new business's
website. Which type of intellectual property protection is at issue in this example? -
✔✔Copyright
✔✔An entrepreneur notices new demand for products featuring characters from a
recent movie. The entrepreneur finds a manufacturer of kitchen products featuring these
character. Based on the scenario provided, what should be a primary concern of this
entrepreneur? - ✔✔Reliability of supply
✔✔A family owns a tractor sales and supply store. Over the past decade sales of large
tractors and implements have decreased as many of the old farms in the community
have sold and been subdivided into smaller residential hobby farms. Given the facts
