ESB Test 1 Questions and Answers
100% Pass
Ophelia runs a local seamstress business. Ophelia is losing customers to a competing
business. Upon sending an employee over to check out the competition, Ophelia
discovers the competitor's turnaround time is double her turnaround time. What should
Ophelia's new marketing strategy be to woo back her customers? - ✔✔service
Gabe has worked as a journeyman electrician for an employer for the past 16 years. He
is paid a good salary. His only dissatisfaction is the hours are long and often when he
requests time off he is denied because of customer workload. Recently, two new
electricians were hired that do sloppy work and don't get along well with Gabe. As a
resultGabe decides go into business for himself. Which benefit of entrepreneurship will
Gabe most enjoy? - ✔✔autonomy
A photographer enjoys traveling and having freedom over her own schedule. She
would like to turn her photography hobby into a business. Which are the two greatest
benefits she might experience by turning her hobby into a successful business ? (Choose
two ) - ✔✔making her own rules
satisfaction
Which two characteristics best describe entrepreneurs? - ✔✔creative
adaptable
Successful entrepreneurs typically possess which three characteristics? - ✔✔tenacious
COPYRIGHT © 2025 BY KATELYN WHITMAN, ALL RIGHTS RESERVED 1
, adaptable
responsible
Rey has worked as a transportation coordinator for the past 10 years. Rey often is
dissatisfied with the stagnation of the job and wants to open her own transportation
service. Which benefit of entrepreneurship will be the biggest one for Rey? -
✔✔autonomy
After a self-assessment, a potential entrepreneur has learned that he knows nothing
about accounting and keeping records for a business. Based upon this finding, what
should this entrepreneur do? - ✔✔enroll in a beginning level business accounting
course at a local community college
Which are three risks of entrepreneurship? (Choose three) - ✔✔financial insecurity
potential business failure
long hours
Which are traits of a successful entrepreneur? Choose three answers. - ✔✔enthusiastic
patient
confident
Fran works for a flooring company in a neighboring town. Many of Fran's customers
complain about a lack of available flooring companies in the area and that of those
companies, the prices are too high. Should Fran decide to open a flooring business,
what can be a good marketing strategy? - ✔✔low prices
Besides defining strengths and weaknesses, what is the other main factor determined
during a self-assessment? - ✔✔Risk tolerance
COPYRIGHT © 2025 BY KATELYN WHITMAN, ALL RIGHTS RESERVED 2
100% Pass
Ophelia runs a local seamstress business. Ophelia is losing customers to a competing
business. Upon sending an employee over to check out the competition, Ophelia
discovers the competitor's turnaround time is double her turnaround time. What should
Ophelia's new marketing strategy be to woo back her customers? - ✔✔service
Gabe has worked as a journeyman electrician for an employer for the past 16 years. He
is paid a good salary. His only dissatisfaction is the hours are long and often when he
requests time off he is denied because of customer workload. Recently, two new
electricians were hired that do sloppy work and don't get along well with Gabe. As a
resultGabe decides go into business for himself. Which benefit of entrepreneurship will
Gabe most enjoy? - ✔✔autonomy
A photographer enjoys traveling and having freedom over her own schedule. She
would like to turn her photography hobby into a business. Which are the two greatest
benefits she might experience by turning her hobby into a successful business ? (Choose
two ) - ✔✔making her own rules
satisfaction
Which two characteristics best describe entrepreneurs? - ✔✔creative
adaptable
Successful entrepreneurs typically possess which three characteristics? - ✔✔tenacious
COPYRIGHT © 2025 BY KATELYN WHITMAN, ALL RIGHTS RESERVED 1
, adaptable
responsible
Rey has worked as a transportation coordinator for the past 10 years. Rey often is
dissatisfied with the stagnation of the job and wants to open her own transportation
service. Which benefit of entrepreneurship will be the biggest one for Rey? -
✔✔autonomy
After a self-assessment, a potential entrepreneur has learned that he knows nothing
about accounting and keeping records for a business. Based upon this finding, what
should this entrepreneur do? - ✔✔enroll in a beginning level business accounting
course at a local community college
Which are three risks of entrepreneurship? (Choose three) - ✔✔financial insecurity
potential business failure
long hours
Which are traits of a successful entrepreneur? Choose three answers. - ✔✔enthusiastic
patient
confident
Fran works for a flooring company in a neighboring town. Many of Fran's customers
complain about a lack of available flooring companies in the area and that of those
companies, the prices are too high. Should Fran decide to open a flooring business,
what can be a good marketing strategy? - ✔✔low prices
Besides defining strengths and weaknesses, what is the other main factor determined
during a self-assessment? - ✔✔Risk tolerance
COPYRIGHT © 2025 BY KATELYN WHITMAN, ALL RIGHTS RESERVED 2
