WGU C201 BUSINESS ACUMEN EXAM ACTUAL
QUESTIONS AND CORRECT ANSWERS
◉ With which two types of products does a marketing strategy rely
on advertising more than personal selling?
Answer: Accessories to primary products
Consumable supplies
◉ After years of marketing a body lotion, a cosmetics company
begins promoting the lotion as an insect repellent as well.In which
three product life cycle extension strategies did this company
engage?
Answer: Adding new users, finding new uses for the product,
increasing frequency of use.
◉ What are three qualities of strong brand equity?
Answer: Awareness, Loyalty and favorable images
◉ A customer intends to purchase her favorite cereal. It is out of
stock, so she purchases an alternative brand of cereal instead.Which
stage of brand loyalty is this customer in?
Answer: brand preference
,◉ Which manufacturer distribution model is enhanced by the
shipping and tracking capabilities of a global package delivery
service?
Answer: Direct
◉ Which three tasks are key responsibilities of operations
managers?
Answer: Planning the overall production process
Determining the best layout for the firm's facilities
Implementing the production plan
◉ Which two characteristics does a Just-In-Time (JIT) System have?
Answer: Production using JIT reduces a firm's inventory costs.
A JIT system seeks to eliminate anything that does not add value in
operations activities.
◉ Which aspect of operations management do the ISO 9000
standards address?
Answer: Establishment of effective quality systems
◉ Which manufacturing model uses technology to produce small
runs of customized products cost effectively?
Answer: Flexible
,◉ Which two of the following distribution channels would take title
of the products they handle?
Answer: Limited-function merchant wholesaler
Full-function merchant wholesaler
◉ Which economic graph is used by organizations to regulate
production by predicting the amount of product buyers will
purchase at different prices?
Answer: Demand Curve
◉ Which two factors drive demand in a microeconomic system?
Answer: Price of substitute goods
Customer preference
◉ How does a sudden shortage of a commodity product affect the
immediate demand for the product at its current price?
Answer: Demand increases
◉ Which two impacts result from a nation's increase in
productivity?
Answer: Economy expands
Personal wealth increases
, ◉ For which two purposes will the U.S. Federal Reserve System
follow an expansionary monetary policy?
Answer: To encourage bankers to make loans
To cut the cost of borrowing
◉ Which two economic impacts should a manager anticipate when
the U.S. government reduces the number of Treasury bills, Treasury
Notes, and Treasury bonds it sells?
Answer: A rise of interest rates on these securities
An increase in overall cost of debt to private borrowers
◉ What is one role of a financial manager?
Answer: Analyzing major investment decisions
◉ Which two activities are finance activities rather than accounting
activities?
Answer: Making capital market investments
Creating a financial plan
◉ Which three sources should a business consider when seeking a
long-term funding source?
Answer: Venture capital
QUESTIONS AND CORRECT ANSWERS
◉ With which two types of products does a marketing strategy rely
on advertising more than personal selling?
Answer: Accessories to primary products
Consumable supplies
◉ After years of marketing a body lotion, a cosmetics company
begins promoting the lotion as an insect repellent as well.In which
three product life cycle extension strategies did this company
engage?
Answer: Adding new users, finding new uses for the product,
increasing frequency of use.
◉ What are three qualities of strong brand equity?
Answer: Awareness, Loyalty and favorable images
◉ A customer intends to purchase her favorite cereal. It is out of
stock, so she purchases an alternative brand of cereal instead.Which
stage of brand loyalty is this customer in?
Answer: brand preference
,◉ Which manufacturer distribution model is enhanced by the
shipping and tracking capabilities of a global package delivery
service?
Answer: Direct
◉ Which three tasks are key responsibilities of operations
managers?
Answer: Planning the overall production process
Determining the best layout for the firm's facilities
Implementing the production plan
◉ Which two characteristics does a Just-In-Time (JIT) System have?
Answer: Production using JIT reduces a firm's inventory costs.
A JIT system seeks to eliminate anything that does not add value in
operations activities.
◉ Which aspect of operations management do the ISO 9000
standards address?
Answer: Establishment of effective quality systems
◉ Which manufacturing model uses technology to produce small
runs of customized products cost effectively?
Answer: Flexible
,◉ Which two of the following distribution channels would take title
of the products they handle?
Answer: Limited-function merchant wholesaler
Full-function merchant wholesaler
◉ Which economic graph is used by organizations to regulate
production by predicting the amount of product buyers will
purchase at different prices?
Answer: Demand Curve
◉ Which two factors drive demand in a microeconomic system?
Answer: Price of substitute goods
Customer preference
◉ How does a sudden shortage of a commodity product affect the
immediate demand for the product at its current price?
Answer: Demand increases
◉ Which two impacts result from a nation's increase in
productivity?
Answer: Economy expands
Personal wealth increases
, ◉ For which two purposes will the U.S. Federal Reserve System
follow an expansionary monetary policy?
Answer: To encourage bankers to make loans
To cut the cost of borrowing
◉ Which two economic impacts should a manager anticipate when
the U.S. government reduces the number of Treasury bills, Treasury
Notes, and Treasury bonds it sells?
Answer: A rise of interest rates on these securities
An increase in overall cost of debt to private borrowers
◉ What is one role of a financial manager?
Answer: Analyzing major investment decisions
◉ Which two activities are finance activities rather than accounting
activities?
Answer: Making capital market investments
Creating a financial plan
◉ Which three sources should a business consider when seeking a
long-term funding source?
Answer: Venture capital
