Retail Industry Fundamentals ACTUAL
Exam Questions and CORRECT Answers
Which of the following is most likely to be a role in a retail career?
A. Buyer
B. Mechanic
C. Babysitter
D. Therapist - CORRECT ANSWER - A. Buyer
From the list below, select the business in the retail industry.
A. Doctor's office
B. Department store
C. Car Repair Shop
D. City Park - CORRECT ANSWER - B. Department Store
A Person or a company that sells goods and/or services to a customer is called a
A. seller
B. customer
C. consumer
D. retailer - CORRECT ANSWER - D. retailer
What's considered a retail service?
A. Car wash
B. New car
C. Car engine repair
D. New car tires - CORRECT ANSWER - A. Car wash
What item is a retail product?
,A. Car tire warranty
B. Car tire repair
C. Car tire
D. Car tire installation - CORRECT ANSWER - C. Car tire
Which of the following skills are most helpful for a salesperson?
A. Active listening and communication
B. Quickness and accuracy
C. Addition and subtraction
D. Creativity and judgement - CORRECT ANSWER - A. Active listening and
communication
The physical goods (that can be touched) that can be bought and sold:
A. Services
B. Products
C. Items
D. Commerce - CORRECT ANSWER - B. Products
Buys large quantities of product from manufacturers and sells them to retailers:
A. Wholesaler
B. Service Seller
C. Franchiser
D. Warehouse - CORRECT ANSWER - A. Wholesaler
What organization oversees and controls workplace safety regulations?
A. SOTP
B. FLSA
C. FMLA
, D. OSHA - CORRECT ANSWER - D. OSHA
In the retail product cycle, what step comes after distribution of products?
A. Selling
B. Selection
C. Allocation
D. Distribution - CORRECT ANSWER - A. Selling
The period key term in retail for a period of time that an item remains usable, or fit for
consumption, is called:
A. Expiration
B. Shelf Life
C. Inventory
D. Spoiled - CORRECT ANSWER - B. Shelf Life
The term for distributing merchandise from the manufacturer to retail locations is called:
A. Receiving
B. Refreshing
C. Updating
D. Allocation - CORRECT ANSWER - D. Allocation
When distribution team members use replenishment reports to retrieve quantities of items to be
sent to stores they are:
A. Packing
B. Picking
C. Sending
D. Mixing - CORRECT ANSWER - B. Picking
Exam Questions and CORRECT Answers
Which of the following is most likely to be a role in a retail career?
A. Buyer
B. Mechanic
C. Babysitter
D. Therapist - CORRECT ANSWER - A. Buyer
From the list below, select the business in the retail industry.
A. Doctor's office
B. Department store
C. Car Repair Shop
D. City Park - CORRECT ANSWER - B. Department Store
A Person or a company that sells goods and/or services to a customer is called a
A. seller
B. customer
C. consumer
D. retailer - CORRECT ANSWER - D. retailer
What's considered a retail service?
A. Car wash
B. New car
C. Car engine repair
D. New car tires - CORRECT ANSWER - A. Car wash
What item is a retail product?
,A. Car tire warranty
B. Car tire repair
C. Car tire
D. Car tire installation - CORRECT ANSWER - C. Car tire
Which of the following skills are most helpful for a salesperson?
A. Active listening and communication
B. Quickness and accuracy
C. Addition and subtraction
D. Creativity and judgement - CORRECT ANSWER - A. Active listening and
communication
The physical goods (that can be touched) that can be bought and sold:
A. Services
B. Products
C. Items
D. Commerce - CORRECT ANSWER - B. Products
Buys large quantities of product from manufacturers and sells them to retailers:
A. Wholesaler
B. Service Seller
C. Franchiser
D. Warehouse - CORRECT ANSWER - A. Wholesaler
What organization oversees and controls workplace safety regulations?
A. SOTP
B. FLSA
C. FMLA
, D. OSHA - CORRECT ANSWER - D. OSHA
In the retail product cycle, what step comes after distribution of products?
A. Selling
B. Selection
C. Allocation
D. Distribution - CORRECT ANSWER - A. Selling
The period key term in retail for a period of time that an item remains usable, or fit for
consumption, is called:
A. Expiration
B. Shelf Life
C. Inventory
D. Spoiled - CORRECT ANSWER - B. Shelf Life
The term for distributing merchandise from the manufacturer to retail locations is called:
A. Receiving
B. Refreshing
C. Updating
D. Allocation - CORRECT ANSWER - D. Allocation
When distribution team members use replenishment reports to retrieve quantities of items to be
sent to stores they are:
A. Packing
B. Picking
C. Sending
D. Mixing - CORRECT ANSWER - B. Picking
