RETAIL MANAGEMENT EXAM 3
COMPREHENSIVE QUESTIONS & A+
GRADED PASSED ANSWERS
Which of the following is not an advantage of an operations blueprint?
A) The operations blueprint standardizes activities.
B) The operations blueprint helps evaluate personnel needs.
C) The operations blueprint determines space needs.
D) The operations blueprint isolates weak or failure-prone operations components. -
Correct Answer ✔✔ C) The operations blueprint determines space needs.
Which of these is not a benefit of using prototype stores?
A) The stores use custom buildings for each city and town.
B) The stores enable a retailer to take advantage of quantity discounts for fixtures and
other materials.
C) The stores ease the employee interchange among branches.
D) The stores help portray a consistent image among franchise and chain store units. -
Correct Answer ✔✔ A) The stores use custom buildings for each city and town.
A characteristic of rationalized retailing programs is the ________.
A) encouragement of manufacturers to finance inventories
B) use of low-cost rental locations
C) use of used equipment and fixtures
D) high degree of centralized management control - Correct Answer ✔✔ D) high degree
of centralized management control
Rigid control and standardization for each phase of business characterize ________.
A) mass merchandising
B) rationalized retailing
C) positioned retailing
D) risk-minimization retailing - Correct Answer ✔✔ B) rationalized retailing
The need for store personnel in a season, week, day, and time period is ascertained
through ________.
A) job standardization
B) workload forecasts
C) cross-training
D) time-based performance adjustments - Correct Answer ✔✔ B) workload forecasts
The use of in-store displays and the sale of well-known national brands can effectively
reduce selling costs through use of ________.
A) self-service facilities
,B) just-in-time (JIT) inventory management
C) vertical merchandising
D) prototype stores - Correct Answer ✔✔ A) self-service facilities
Supermarkets and full-line discount stores have effectively reduced personnel costs
through the use of ________.
A) self-service facilities
B) prototype stores
C) vertical merchandising
D) just-in-time inventory management - Correct Answer ✔✔ A) self-service facilities
Which statement about energy management is not correct?
A) A retailer can reduce energy costs through adjusting a store's interior temperatures
during nonselling hours.
B) The substitution of traditional bulbs with high-energy bulbs and fluorescent ballasts
can significantly reduce energy costs for lighting.
C) The potential savings to a retailer with an effective energy management program are
quite low.
D) Computerized systems with centralized controls that enable a retailer to control
lighting, heat, and air-conditioning in each store from a single office can reduce heating,
air-conditioning, and ventilating costs. - Correct Answer ✔✔ C) The potential savings to
a retailer with an effective energy management program are quite low.
Ordering costs, holding costs, and loss in profits due to stockouts are effectively
controlled in ________.
A) prototype stores
B) incremental budgeting
C) zero-based budgeting
D) inventory management - Correct Answer ✔✔ D) inventory management
Store security relates to two issues: ________ and ________.
A) inventory security; cash security
B) employee security; manager security
C) personal security; merchandise security
D) employee security; customer security - Correct Answer ✔✔ C) personal security;
merchandise security
Credit-card fees paid by retailers average from ________ percent to ________ percent
of sales.
A) 1.5; 5
B) 2.5; 3.5
C) 3.5; 5
D) 5; 6 - Correct Answer ✔✔ A) 1.5; 5
In a debit-card system, the ________.
A) retailer still has the risk of customer nonpayment
, B) purchase price is immediately deducted from a consumer's bank account and then
entered into the retailer's account
C) customer can either pay the full amount due immediately or defer payment
D) customer is not billed until his or her billing cycle date - Correct Answer ✔✔ B)
purchase price is immediately deducted from a consumer's bank account and then
entered into the retailer's account
Which statement concerning computerized checkouts is not correct?
A) Computerized checkouts instantly record and display sales.
B) Computerized checkouts cannot store inventory data.
C) Computerized checkouts can reduce transaction time.
D) Computerized checkouts can reduce the need for item pricing. - Correct Answer ✔✔
B) Computerized checkouts cannot store inventory data.
Which system increases employee productivity for supermarkets?
A) debit-card system
B) self-scanning
C) outsourcing
D) data-base management - Correct Answer ✔✔ B) self-scanning
A Web-based retailer has decided to have a logistics firm handle packing, handling, and
shipping responsibilities. This illustrates ________.
A) outsourcing
B) benchmarking
C) re-engineering
D) scenario analysis - Correct Answer ✔✔ A) outsourcing
Contingency plans are an important component of ________.
A) operations management
B) crisis management
C) control activities
D) feedback - Correct Answer ✔✔ B) crisis management
A listing and sequencing of interrelated tasks that must be performed by several retail
personnel to assure that a retail service is efficiently and effectively performed is an
important part of a(n) ________.
A) operations blueprint
B) workload forecast
C) job standardization analysis
D) cross-training analysis - Correct Answer ✔✔ A) operations blueprint
The standardization of retail operations is often associated with the use of ________.
A) participatory management
B) unionization by employees
C) decentralized decision making
D) prototype stores - Correct Answer ✔✔ D) prototype stores
COMPREHENSIVE QUESTIONS & A+
GRADED PASSED ANSWERS
Which of the following is not an advantage of an operations blueprint?
A) The operations blueprint standardizes activities.
B) The operations blueprint helps evaluate personnel needs.
C) The operations blueprint determines space needs.
D) The operations blueprint isolates weak or failure-prone operations components. -
Correct Answer ✔✔ C) The operations blueprint determines space needs.
Which of these is not a benefit of using prototype stores?
A) The stores use custom buildings for each city and town.
B) The stores enable a retailer to take advantage of quantity discounts for fixtures and
other materials.
C) The stores ease the employee interchange among branches.
D) The stores help portray a consistent image among franchise and chain store units. -
Correct Answer ✔✔ A) The stores use custom buildings for each city and town.
A characteristic of rationalized retailing programs is the ________.
A) encouragement of manufacturers to finance inventories
B) use of low-cost rental locations
C) use of used equipment and fixtures
D) high degree of centralized management control - Correct Answer ✔✔ D) high degree
of centralized management control
Rigid control and standardization for each phase of business characterize ________.
A) mass merchandising
B) rationalized retailing
C) positioned retailing
D) risk-minimization retailing - Correct Answer ✔✔ B) rationalized retailing
The need for store personnel in a season, week, day, and time period is ascertained
through ________.
A) job standardization
B) workload forecasts
C) cross-training
D) time-based performance adjustments - Correct Answer ✔✔ B) workload forecasts
The use of in-store displays and the sale of well-known national brands can effectively
reduce selling costs through use of ________.
A) self-service facilities
,B) just-in-time (JIT) inventory management
C) vertical merchandising
D) prototype stores - Correct Answer ✔✔ A) self-service facilities
Supermarkets and full-line discount stores have effectively reduced personnel costs
through the use of ________.
A) self-service facilities
B) prototype stores
C) vertical merchandising
D) just-in-time inventory management - Correct Answer ✔✔ A) self-service facilities
Which statement about energy management is not correct?
A) A retailer can reduce energy costs through adjusting a store's interior temperatures
during nonselling hours.
B) The substitution of traditional bulbs with high-energy bulbs and fluorescent ballasts
can significantly reduce energy costs for lighting.
C) The potential savings to a retailer with an effective energy management program are
quite low.
D) Computerized systems with centralized controls that enable a retailer to control
lighting, heat, and air-conditioning in each store from a single office can reduce heating,
air-conditioning, and ventilating costs. - Correct Answer ✔✔ C) The potential savings to
a retailer with an effective energy management program are quite low.
Ordering costs, holding costs, and loss in profits due to stockouts are effectively
controlled in ________.
A) prototype stores
B) incremental budgeting
C) zero-based budgeting
D) inventory management - Correct Answer ✔✔ D) inventory management
Store security relates to two issues: ________ and ________.
A) inventory security; cash security
B) employee security; manager security
C) personal security; merchandise security
D) employee security; customer security - Correct Answer ✔✔ C) personal security;
merchandise security
Credit-card fees paid by retailers average from ________ percent to ________ percent
of sales.
A) 1.5; 5
B) 2.5; 3.5
C) 3.5; 5
D) 5; 6 - Correct Answer ✔✔ A) 1.5; 5
In a debit-card system, the ________.
A) retailer still has the risk of customer nonpayment
, B) purchase price is immediately deducted from a consumer's bank account and then
entered into the retailer's account
C) customer can either pay the full amount due immediately or defer payment
D) customer is not billed until his or her billing cycle date - Correct Answer ✔✔ B)
purchase price is immediately deducted from a consumer's bank account and then
entered into the retailer's account
Which statement concerning computerized checkouts is not correct?
A) Computerized checkouts instantly record and display sales.
B) Computerized checkouts cannot store inventory data.
C) Computerized checkouts can reduce transaction time.
D) Computerized checkouts can reduce the need for item pricing. - Correct Answer ✔✔
B) Computerized checkouts cannot store inventory data.
Which system increases employee productivity for supermarkets?
A) debit-card system
B) self-scanning
C) outsourcing
D) data-base management - Correct Answer ✔✔ B) self-scanning
A Web-based retailer has decided to have a logistics firm handle packing, handling, and
shipping responsibilities. This illustrates ________.
A) outsourcing
B) benchmarking
C) re-engineering
D) scenario analysis - Correct Answer ✔✔ A) outsourcing
Contingency plans are an important component of ________.
A) operations management
B) crisis management
C) control activities
D) feedback - Correct Answer ✔✔ B) crisis management
A listing and sequencing of interrelated tasks that must be performed by several retail
personnel to assure that a retail service is efficiently and effectively performed is an
important part of a(n) ________.
A) operations blueprint
B) workload forecast
C) job standardization analysis
D) cross-training analysis - Correct Answer ✔✔ A) operations blueprint
The standardization of retail operations is often associated with the use of ________.
A) participatory management
B) unionization by employees
C) decentralized decision making
D) prototype stores - Correct Answer ✔✔ D) prototype stores
