NRF Retail Industry Fundamentals Exam Study Questions with Correct Answers

NRF Retail Industry Fundamentals Exam Study Questions with Correct Answers 1. In the retail product cycle, what step comes after distribution and products? - ANSWER selling 2. What item is a retail product - ANSWER car tire 3. A large facility that manufacturers sent large quantities of product to then distributed to stores is called - ANSWER distribution center 4. The period key term in retail for a period fo time that an item remains usable, or fir for consumption is called: - ANSWER shelf life 5. Customers of a popular shoe store chain can purchase items in-store and on line or via their mobile app. the customer also receives texts and emails about current promotions and sales. This is an example of: - ANSWER Omni-channel retailing 6. What's considered a retail service? - ANSWER car wash 7. When planning for inventory, a company's goal is to have - ANSWER more supply than demand 8. Which of the following is most likely to be a role in a retail career - ANSWER buyer 9. When distribution team members use replenishment reports to retrieve quantities of items to be sent to stores they are: - ANSWER picking ** 10. Marketing programs that track purchase history, personal information and preferences and provide incentives to loyal, repeat customers are called: - ANSWER loyalty programs 11. Which of the following key performance indicators can be used to measure whether all employees in the company are reaching their sales goals? - ANSWER Number of sales per employee 12. In the customer loyalty life cycle, the customer has a want or need, then considered different purchasing options. What step comes next? - ANSWER customer chooses a buying option 13. Which of the following is a good tip for connecting with customers in a retail store? - ANSWER greet within 30 seconds of their arrival 14. During the selling process, you assess the needs of the customer by asking the questions that get the customer tp provide details about what they want or need. These questions are typically not answered with a yes or no - ANSWER open-ended questions 15. Which of the following does the OSHA require companies to do tp help keep the employees safe? - ANSWER Train employees how to respond when an accident occurs 16. A retail business, owned by shareholders and have centralized decision making for their multiple store locations is called - ANSWER corporation 17. During the selling process, you assess the needs of the customer by asking the questions that get the customer tp provide details about what they want or need. These questions are typically not answered with a yes or no - ANSWER open-ended questions 18. Which of the following does the OSHA require companies to do tp help keep the employees safe? - ANSWER Train employees how to respond when an accident occurs 19. Merchandise without an expiration date like electronics, tools and home goods typically have longer - ANSWER shelf life 20. The repetitive cycle that occurs with retailers in regard to product assortment is called: - ANSWER the retail product cycle 21. Responsible for the production of finished products - ANSWER manufacturer 22. People who purchase goods or services from a business are called: - ANSWER customers 23. The selling goods and/or services to a customer is called - ANSWER retail 24. What item is a retail sevice? - ANSWER jewelry warranty 25. A person or a company that sells goods/or services to a customer is called a - ANSWER retailer 26. Which of the following is most likely to be a role in a retail career - ANSWER buyer 27. What organization oversees and controls workplace safety regulations? - ANSWER OSHA 28. Preventing injury and illness to customers and employees is called - ANSWER workplace safety 29. When you have key information about a company's products and services and use it to help customers understand how these products and services meet their needs, you have: - ANSWER product knowledge 30. Which of the following key performance indicators can be used to measure whether all employees in the company are reaching their sales goals? - ANSWER Number of sales per employee 31. In the customer loyalty life cycle, the customer has a want or need, then considered different purchasing options. What step comes next? - ANSWER customer chooses a buying option