ESB PRACTICE EXAM QUESTIONS WITH CORRECT ANSWERS |LATEST UPDATE
100% SOLVED| GRADED A+
What is a risk of being an entrepreneur? - lack of financial resources
T/F The business owners personal credit score does not affect their ability to qualify for a loan
False
This segment describes where customers are located and how they can be reached -
Geographic
T/F The design thinking process is highly focused on using secondary research to develop
solutions to problems False
You decide to create a new type of energy bar. You take some samples to focus a group to get
their reactions to your product. Which stage of the development process are you in? -
Market strategy creation
T/F One objective of entrepreneurship is to make profit False
T/F An entrepreneur is a person who assumes the responsibilities and risk of starting a business
True
, T/F Business longevity increases potential funding opportunities True
T/F A sole proprietorship protects the owner form personal liability False
T/F Value engineering encourages use of materials that save money True
T/F Most online marketplaces charge fees to vendors for listing or selling products True
You need to start a customer loyalty program to reward and retain current customers. Which
two types of programs should you select? - Annual sale
- Points program
T/F Distributors use their sales force to sell another company's product False
T/F Value engineering adds features ad function to a product True
T/F Lenders require business owners to identify the purpose of the loan True
This segment describes statistical information about customers - Demographics
T/F Patent licensing is used for a new product or invention True
100% SOLVED| GRADED A+
What is a risk of being an entrepreneur? - lack of financial resources
T/F The business owners personal credit score does not affect their ability to qualify for a loan
False
This segment describes where customers are located and how they can be reached -
Geographic
T/F The design thinking process is highly focused on using secondary research to develop
solutions to problems False
You decide to create a new type of energy bar. You take some samples to focus a group to get
their reactions to your product. Which stage of the development process are you in? -
Market strategy creation
T/F One objective of entrepreneurship is to make profit False
T/F An entrepreneur is a person who assumes the responsibilities and risk of starting a business
True
, T/F Business longevity increases potential funding opportunities True
T/F A sole proprietorship protects the owner form personal liability False
T/F Value engineering encourages use of materials that save money True
T/F Most online marketplaces charge fees to vendors for listing or selling products True
You need to start a customer loyalty program to reward and retain current customers. Which
two types of programs should you select? - Annual sale
- Points program
T/F Distributors use their sales force to sell another company's product False
T/F Value engineering adds features ad function to a product True
T/F Lenders require business owners to identify the purpose of the loan True
This segment describes statistical information about customers - Demographics
T/F Patent licensing is used for a new product or invention True
