CM 443 EXAM Study QUESTIONS WITH
ANSWERS| 2026 | 100% Correct
construction has one of the highest business failure rates
-highly competitive
-low profit margins
-inexperience
AGC motto for members
skill, integrity, responsibility
What is an entrepreneur?
A person who takes advantage of a business opportunity by assuming the financial, material, and
psychological risks of starting or running a company
traits of an entrepreneur
-prefers to work directly with customers
-possess an above normal energy quotient
-difficulty balancing work and family
-involves family in enterprise
-copies the successful ideas of others
-frequently sells one business and buys another
-does not usually obtain an MBA before starting business
-likes to experiment with new ideas
-not suited to be a team player
,-values independence (no business with friends)
-values quality; does not cut corners
-does not underbid
-ethical
-not perfect; experiences failure to succeed
basic traits of an entrepreneur
-self motivated
-frugal
-not a procrastinator
-hard worker
-accept failure
-you wont get rich
-you don't take advice
cons of starting own business
-uncertain income/cash flow
-self starter at work
-isolation/pressure
-work lots of hours
good reasons to start your own business
-you love what you do and hate office politics
-good job security
-you build something that is your own
, bad reasons for starting your own business
-you hate your job/boss
-you want to be rich
-you want to work less
traits required for starting your own business
-you like to problem solve
-you are comfortable with uncertainty
-you're good with financial management
-you want to call the shots
-comfortable with delegation
-resilient
-you know the industry
Types of businesses
-Dog and pick up(own boss)
-micro (1-3 employees)
-medium (5-20)
-enterprise leve (100+)
Steps to starting a business (1&2)
1. Get licensed and bonded
-hard to get insurance/loans without
2.Draft a business plan
ANSWERS| 2026 | 100% Correct
construction has one of the highest business failure rates
-highly competitive
-low profit margins
-inexperience
AGC motto for members
skill, integrity, responsibility
What is an entrepreneur?
A person who takes advantage of a business opportunity by assuming the financial, material, and
psychological risks of starting or running a company
traits of an entrepreneur
-prefers to work directly with customers
-possess an above normal energy quotient
-difficulty balancing work and family
-involves family in enterprise
-copies the successful ideas of others
-frequently sells one business and buys another
-does not usually obtain an MBA before starting business
-likes to experiment with new ideas
-not suited to be a team player
,-values independence (no business with friends)
-values quality; does not cut corners
-does not underbid
-ethical
-not perfect; experiences failure to succeed
basic traits of an entrepreneur
-self motivated
-frugal
-not a procrastinator
-hard worker
-accept failure
-you wont get rich
-you don't take advice
cons of starting own business
-uncertain income/cash flow
-self starter at work
-isolation/pressure
-work lots of hours
good reasons to start your own business
-you love what you do and hate office politics
-good job security
-you build something that is your own
, bad reasons for starting your own business
-you hate your job/boss
-you want to be rich
-you want to work less
traits required for starting your own business
-you like to problem solve
-you are comfortable with uncertainty
-you're good with financial management
-you want to call the shots
-comfortable with delegation
-resilient
-you know the industry
Types of businesses
-Dog and pick up(own boss)
-micro (1-3 employees)
-medium (5-20)
-enterprise leve (100+)
Steps to starting a business (1&2)
1. Get licensed and bonded
-hard to get insurance/loans without
2.Draft a business plan
