MGRADES EXAMS
Gmetrix entrepreneur test UPDATED
ACTUAL Exam Questions and CORRECT
Answers
Based upon his finding, which approach might be less stressful for the entrepreneur to have her
own business? - CORRECT ANSWER - Buy an existing business that is already
successful
Based on the scenario provided, what would be emphasized in marketing to attract customers? -
CORRECT ANSWER - Location
The entrepreneur decides to begin advertising his services in this community. Which would be
emphasized in marketing to attract customers to his new business? - CORRECT
ANSWER - Lower prices
Which is the greatest benefits of entrepreneurship? - CORRECT ANSWER - Being your
own boss
Which are three risks of entrepreneurship? - CORRECT ANSWER - Financial insecurity,
potential business failure, long hours
Which benefit of entrepreneurship will Gabe most enjoy? - CORRECT ANSWER -
Autonomy- the freedom to make his own rules, hire his own employees, and set his own
schedule
What is a primary benefit of starting a new business without purchasing a franchise or buying an
existing business - CORRECT ANSWER - Developing your own rules
Given the facts provided, which opportunity would be the best choice for the motorcycle
mechanic to open a business? - CORRECT ANSWER - Start a new business and invest
$50,000 in modern diagnostic tools
, MGRADES EXAMS
Which opportunity for starting a leather craft business would have the highest probability for
success? - CORRECT ANSWER - Build a online storefront
Which customer group all this new auto mechanic business support? - CORRECT
ANSWER - Businesses
Which method of segmentation is the owner using? - CORRECT ANSWER - Geographic
Which two initiatives meet this objective? - CORRECT ANSWER - Offering a list of
references from other parents, providing live web cams parents can access from the internet by
using a secure log on.
What is a legitimate value proposition for potential customers? - CORRECT ANSWER -
Providing extended hours to pickup and drop off pets before and after work
Which two groups benefit the most from a well written business plan? - CORRECT
ANSWER - Business owner, investors
Which of the following should be addressed in the description section of a business plan? -
CORRECT ANSWER - Target markets
Match the business legal structures to its unique characteristic - CORRECT ANSWER -
Sole proprietorship- easy to setup, but has unlimited liability
General or limited partnership- terminated upon death of partner
C cooperation- double-taxed, but best for international businesses
S cooperation- similar to C cooperation, but taxed at a lower rate
Nonprofit cooperation- owned by no one, pays no U.S federal tax
Limited liability company- best for single member seeking low risk
Gmetrix entrepreneur test UPDATED
ACTUAL Exam Questions and CORRECT
Answers
Based upon his finding, which approach might be less stressful for the entrepreneur to have her
own business? - CORRECT ANSWER - Buy an existing business that is already
successful
Based on the scenario provided, what would be emphasized in marketing to attract customers? -
CORRECT ANSWER - Location
The entrepreneur decides to begin advertising his services in this community. Which would be
emphasized in marketing to attract customers to his new business? - CORRECT
ANSWER - Lower prices
Which is the greatest benefits of entrepreneurship? - CORRECT ANSWER - Being your
own boss
Which are three risks of entrepreneurship? - CORRECT ANSWER - Financial insecurity,
potential business failure, long hours
Which benefit of entrepreneurship will Gabe most enjoy? - CORRECT ANSWER -
Autonomy- the freedom to make his own rules, hire his own employees, and set his own
schedule
What is a primary benefit of starting a new business without purchasing a franchise or buying an
existing business - CORRECT ANSWER - Developing your own rules
Given the facts provided, which opportunity would be the best choice for the motorcycle
mechanic to open a business? - CORRECT ANSWER - Start a new business and invest
$50,000 in modern diagnostic tools
, MGRADES EXAMS
Which opportunity for starting a leather craft business would have the highest probability for
success? - CORRECT ANSWER - Build a online storefront
Which customer group all this new auto mechanic business support? - CORRECT
ANSWER - Businesses
Which method of segmentation is the owner using? - CORRECT ANSWER - Geographic
Which two initiatives meet this objective? - CORRECT ANSWER - Offering a list of
references from other parents, providing live web cams parents can access from the internet by
using a secure log on.
What is a legitimate value proposition for potential customers? - CORRECT ANSWER -
Providing extended hours to pickup and drop off pets before and after work
Which two groups benefit the most from a well written business plan? - CORRECT
ANSWER - Business owner, investors
Which of the following should be addressed in the description section of a business plan? -
CORRECT ANSWER - Target markets
Match the business legal structures to its unique characteristic - CORRECT ANSWER -
Sole proprietorship- easy to setup, but has unlimited liability
General or limited partnership- terminated upon death of partner
C cooperation- double-taxed, but best for international businesses
S cooperation- similar to C cooperation, but taxed at a lower rate
Nonprofit cooperation- owned by no one, pays no U.S federal tax
Limited liability company- best for single member seeking low risk
