PGA PGM 3.0 Level 1 Test | Questions with 100%
Correct Answers |
what is the most significant benefit of strategic business Planning. - ANSWER -Provide
a long term vision & Destination
Helping Establish a starting point for goals, Objectives, and related strategies is an
appropriate use of a SWOT analysis. - ANSWER -True
You are in the process of completing a business plan for the golf shop. Initial forecast
of sales, expenses, and profit have been made. Past data has been analyzed and
important inside and outside factors have been identified. What is the next step to be
taken towards completing the plan? - ANSWER -Monitor Performance
A Golf Professional is purchasing a golf course. The business plan he presented to his
banker included his history of operating successfully operating similar facilities, budget
projections for the first five years under his management, and objectives and strategies
for reaching his goals. The banker rejected the loan application because of missing
information. What important element is missing from the business plan? - ANSWER -
Current state of the business
The SWOT analysis would treat opportunities are threats as factors that usually can be
controlled by the facility. - ANSWER -False
The Result of a SWOT analysis could be sufficient justification for the abandonment of
a core business function - ANSWER -True
Staff evaluation are a relevant data source for a SWOT analysis - ANSWER -True
How might revenues be affected at a nearby daily fee course if the local tire plant has
major layoffs - ANSWER -Go Down (decrease)
Lack of a mission statement is an example of a weakness that a SWOT analysis might
disclose - ANSWER -True
Trends in local consumer spending would be most useful for evaluating a core
business function - ANSWER -True
What should govern the decision to pursue an opportunity? - ANSWER -Finances -
Barriers to entry - recourses - opportunity cost
Goals, Objectives & strategies - ANSWER -
, Consider the following the statement as part of the a business plan: "improve range
profits and customer satisfaction." According to the business planning course, this
statement is an example of an objective. - ANSWER -True
The new manager of a ten - year - old private course currently doing an average of 5,
000 tournament rounds per year, proposes to increase tournament rounds by 50% by
the end of the next year. This proposal meets the criteria for an effective business
objective as presented in the business planning course manual. - ANSWER -True
"Develop and promote group lesson programs aimed at a women and Juniors" is an
example of an effective business objectives. - ANSWER -False
What Important Characteristic is missing in the business Objectives. "Increase pro shop
sales next year?" - ANSWER -Measurables; How are you going to measure
Which Characteristics of goals and objectives is described as capable of being
observed, recorded, and measure. - ANSWER -Quantifiable
What is functionally significant difference between goals and objectives? - ANSWER -
goal few clearly defined targets objectives of how we get the goal.
A facilities financial objectives could achieved through operational strategies alone. -
ANSWER -False
The Following agenda was part of a golf range business plan."175 dozen range balls
and rotate usage three times a year. Who: Head Professional. When: End of First
Quarter. Cost: $1500" According to the business plan component represented by this
statement? - ANSWER -.......
What is an example of a financial Strategy? - ANSWER -Borrowing Money: Debt:
Reduce operating expense.
What would be the most appropriate initial response to a facility income not meeting
projections. - ANSWER -.......
Financial, Forecast, and Budgets - ANSWER -
Calculating yield involves knowing the relationship between the amount utilized and the
amount available. - ANSWER -True
Gross Profit is what remains after calculating the difference between revenue and cost
of goods - ANSWER -True
Linear trend analysis and base year analysis are example of vertical analysis -
ANSWER -False
, The Divisor in the linear trend formula - average percentage is the number of years of
change being measured. - ANSWER -True
Conducting a base year analysis is a good choice for a facility that has just completed a
project that added nine new holes to the original 9 - hole course - ANSWER -True
Golf Shop sales of $100,000 yield gross margin of $30,000, What is the percent of the
cost of goods. - ANSWER -30%
What is the definition of "cost of goods sold" - ANSWER -Cost used to by stock
If the gross target margin for your golf shop were about 40%, what would be the target
% for your cost of goods sold? - ANSWER -60%
According to the business planning course manual, what is usually the largest
contributor to the bottom line profit of the facility - ANSWER -Rounds
What is the formula for Merchandise Net Operating Income? - ANSWER -Revenue
Generated - Operating Expense
What events would cause a change in the forecast for the golf shop expense? -
ANSWER -
What metric should be part of every forecast regardless of the type of the facility -
ANSWER -
A Vision defines the short - Term objectives that must be accomplished in the
upcoming year. - ANSWER -False
A Facility profile defines the overall culture of the business - ANSWER -True
The projected customer base of certain golf facilities located in the United States could
assume members drawn from international Markets. - ANSWER -True
A yield Analysis is used to compile a facilities historical data on the number of rounds
played. - ANSWER -True
What is the process called when a manager reviews total rounds to determine who is
playing and when? - ANSWER -Yield Analysis
Mission Statements should include a definition of the facility's underlying financial
model. - ANSWER -False
A sound mission statement defines the long term vision and core values of a facility -
ANSWER -True
, It is appropriate to address the role of the employee in the mission statement -
ANSWER -False
Assessing the current state of business. - ANSWER -
The interpretation of the quantitative data is less susceptible to differences of opinion
than qualitive data - ANSWER -True
Customer demographics is an internal factor - ANSWER -False
What type if information is typically provided by qualitive data. - ANSWER -Likes;
Dislikes; Experiences
What examples would be considered internal data sources for planning purposes -
ANSWER -- Finances - Cogs etc..
Cost of goods sold is an example of qualitive date - ANSWER -False
What information would be most useful to the planning team interested in measuring
the facilities past or current success - ANSWER -Historical Yield Analysis
The Utility of your business plan for managing Day to Day operations in a golf shop
depends on your ability to manage internal factors - ANSWER -True
Consider the following table:
Based on trend analysis, what forecast would be made on the number of weekend
rounds that will be played in year 5.
Year 1 2 3 4 5
Weekend Rounds 16k 14,500 16,000 17,400 ? - ANSWER -
You are concerned about a decline in business growth, what method would be most
effective in portraying your overall financial history - ANSWER -
For the purpose of developing a business plan, what is the best description of a trend
analysis? - ANSWER -
The total of annual sales for a golf shop for the past five years are listed below:
Year: Total Annual Sale
1 $98,000
2 $100,000
3 $123,000
4 $121,000
5 $ 133,000
Based on a single trend projection, what is the most reasonable expectation for the
coming year? what is the average percent change. - ANSWER -6.5% change
Correct Answers |
what is the most significant benefit of strategic business Planning. - ANSWER -Provide
a long term vision & Destination
Helping Establish a starting point for goals, Objectives, and related strategies is an
appropriate use of a SWOT analysis. - ANSWER -True
You are in the process of completing a business plan for the golf shop. Initial forecast
of sales, expenses, and profit have been made. Past data has been analyzed and
important inside and outside factors have been identified. What is the next step to be
taken towards completing the plan? - ANSWER -Monitor Performance
A Golf Professional is purchasing a golf course. The business plan he presented to his
banker included his history of operating successfully operating similar facilities, budget
projections for the first five years under his management, and objectives and strategies
for reaching his goals. The banker rejected the loan application because of missing
information. What important element is missing from the business plan? - ANSWER -
Current state of the business
The SWOT analysis would treat opportunities are threats as factors that usually can be
controlled by the facility. - ANSWER -False
The Result of a SWOT analysis could be sufficient justification for the abandonment of
a core business function - ANSWER -True
Staff evaluation are a relevant data source for a SWOT analysis - ANSWER -True
How might revenues be affected at a nearby daily fee course if the local tire plant has
major layoffs - ANSWER -Go Down (decrease)
Lack of a mission statement is an example of a weakness that a SWOT analysis might
disclose - ANSWER -True
Trends in local consumer spending would be most useful for evaluating a core
business function - ANSWER -True
What should govern the decision to pursue an opportunity? - ANSWER -Finances -
Barriers to entry - recourses - opportunity cost
Goals, Objectives & strategies - ANSWER -
, Consider the following the statement as part of the a business plan: "improve range
profits and customer satisfaction." According to the business planning course, this
statement is an example of an objective. - ANSWER -True
The new manager of a ten - year - old private course currently doing an average of 5,
000 tournament rounds per year, proposes to increase tournament rounds by 50% by
the end of the next year. This proposal meets the criteria for an effective business
objective as presented in the business planning course manual. - ANSWER -True
"Develop and promote group lesson programs aimed at a women and Juniors" is an
example of an effective business objectives. - ANSWER -False
What Important Characteristic is missing in the business Objectives. "Increase pro shop
sales next year?" - ANSWER -Measurables; How are you going to measure
Which Characteristics of goals and objectives is described as capable of being
observed, recorded, and measure. - ANSWER -Quantifiable
What is functionally significant difference between goals and objectives? - ANSWER -
goal few clearly defined targets objectives of how we get the goal.
A facilities financial objectives could achieved through operational strategies alone. -
ANSWER -False
The Following agenda was part of a golf range business plan."175 dozen range balls
and rotate usage three times a year. Who: Head Professional. When: End of First
Quarter. Cost: $1500" According to the business plan component represented by this
statement? - ANSWER -.......
What is an example of a financial Strategy? - ANSWER -Borrowing Money: Debt:
Reduce operating expense.
What would be the most appropriate initial response to a facility income not meeting
projections. - ANSWER -.......
Financial, Forecast, and Budgets - ANSWER -
Calculating yield involves knowing the relationship between the amount utilized and the
amount available. - ANSWER -True
Gross Profit is what remains after calculating the difference between revenue and cost
of goods - ANSWER -True
Linear trend analysis and base year analysis are example of vertical analysis -
ANSWER -False
, The Divisor in the linear trend formula - average percentage is the number of years of
change being measured. - ANSWER -True
Conducting a base year analysis is a good choice for a facility that has just completed a
project that added nine new holes to the original 9 - hole course - ANSWER -True
Golf Shop sales of $100,000 yield gross margin of $30,000, What is the percent of the
cost of goods. - ANSWER -30%
What is the definition of "cost of goods sold" - ANSWER -Cost used to by stock
If the gross target margin for your golf shop were about 40%, what would be the target
% for your cost of goods sold? - ANSWER -60%
According to the business planning course manual, what is usually the largest
contributor to the bottom line profit of the facility - ANSWER -Rounds
What is the formula for Merchandise Net Operating Income? - ANSWER -Revenue
Generated - Operating Expense
What events would cause a change in the forecast for the golf shop expense? -
ANSWER -
What metric should be part of every forecast regardless of the type of the facility -
ANSWER -
A Vision defines the short - Term objectives that must be accomplished in the
upcoming year. - ANSWER -False
A Facility profile defines the overall culture of the business - ANSWER -True
The projected customer base of certain golf facilities located in the United States could
assume members drawn from international Markets. - ANSWER -True
A yield Analysis is used to compile a facilities historical data on the number of rounds
played. - ANSWER -True
What is the process called when a manager reviews total rounds to determine who is
playing and when? - ANSWER -Yield Analysis
Mission Statements should include a definition of the facility's underlying financial
model. - ANSWER -False
A sound mission statement defines the long term vision and core values of a facility -
ANSWER -True
, It is appropriate to address the role of the employee in the mission statement -
ANSWER -False
Assessing the current state of business. - ANSWER -
The interpretation of the quantitative data is less susceptible to differences of opinion
than qualitive data - ANSWER -True
Customer demographics is an internal factor - ANSWER -False
What type if information is typically provided by qualitive data. - ANSWER -Likes;
Dislikes; Experiences
What examples would be considered internal data sources for planning purposes -
ANSWER -- Finances - Cogs etc..
Cost of goods sold is an example of qualitive date - ANSWER -False
What information would be most useful to the planning team interested in measuring
the facilities past or current success - ANSWER -Historical Yield Analysis
The Utility of your business plan for managing Day to Day operations in a golf shop
depends on your ability to manage internal factors - ANSWER -True
Consider the following table:
Based on trend analysis, what forecast would be made on the number of weekend
rounds that will be played in year 5.
Year 1 2 3 4 5
Weekend Rounds 16k 14,500 16,000 17,400 ? - ANSWER -
You are concerned about a decline in business growth, what method would be most
effective in portraying your overall financial history - ANSWER -
For the purpose of developing a business plan, what is the best description of a trend
analysis? - ANSWER -
The total of annual sales for a golf shop for the past five years are listed below:
Year: Total Annual Sale
1 $98,000
2 $100,000
3 $123,000
4 $121,000
5 $ 133,000
Based on a single trend projection, what is the most reasonable expectation for the
coming year? what is the average percent change. - ANSWER -6.5% change
