ETS MAJOR FIELD TEST (PRACTICE TEST):
BACHELOR'S DEGREE IN BUSINESS
The common characteristic possessed by all assets is
a) Long life
b) Great monetary value
c) Tangible nature
d) Future economic benefit - CORRECT ANSWER-d) Future economic
benefit
Which Foreign Direct Investment (FDI) attempts to acquire particular
resources at a lower real cost than could be obtained in the home
country?
a) Market-seeking FDI
b) Efficiency-seeking FDI
c) Resource-seeking FDI
d) Strategic asset-seeking FDI - CORRECT ANSWER-c) Resource-
seeking FDI
Under the Uniform Commercial Code (UCC) statute of frauds, which
of the following terms must be included in writing in order to satisfy
the writing requirement?
,a) The price of the goods.
b) The quantity of the goods.
c) The signatures and names of the buyer and the seller
d) The time and place for delivery - CORRECT ANSWER-b) The
quantity of the goods
Which of the following is an appropriate Federal Reserve action to
stimulate the United States economy?
a) Selling government bonds on the open market
b) Increasing the discount rate
c) Reducing the reserve requirement
d) Cutting taxes - CORRECT ANSWER-c) Reducing the reserve
requirement
Which of the following is true with regard to an exculpatory clause?
a) An exculpatory clause excuses one party from liability for his/her
own tortious conduct.
b) Where one party has a superior bargaining position that has
enabled him/her to impose an exculpatory clause upon the other, the
courts are inclined to nullify the provision.
,c) An exculpatory clause may be unenforceable for unconscionability.
d) All of the above are true - CORRECT ANSWER-d) All of the above
are true
Managers at ABC, Inc. analyze the current situation of their
organization and then develop plans to help their organization to
accomplish its mission and achieve its goals. This is known as:
a) Synergy planning
b) Strategy formulation
c) Functional planning
d) SWOT analysis - CORRECT ANSWER-b) Strategy formulation
A group that develops naturally as a result of employees' interaction
within an organization is referred to as
a) an informal group
b) a formal group
c) a work-team group
d) a formation group - CORRECT ANSWER-a) an informal group
When employees use email, word processors, electronic scheduling /
calendars, they are using which of the following?
, a) Transaction processing systems
b) Process control systems
c) Office automation systems
d) Decision support systems - CORRECT ANSWER-c) Office
automation systems
A standard procedure for numerically measuring a project's progress,
forecasting its completion date and cost and providing measures of
schedule and budget variation as activities are completed is referred
to as
a) program evaluation and review technique (PERT)
b) the critical path method (CPM)
c) a Gantt chart
d) earned value analysis (EVA) - CORRECT ANSWER-d) earned value
analysis (EVA)
High product differentiation is generally accompanied by
a) higher market share
b) decreased emphasis on competition based on price
c) higher profit margins and lower costs
d) significant economies of scale - CORRECT ANSWER-b) decreased
emphasis on competition based on price
BACHELOR'S DEGREE IN BUSINESS
The common characteristic possessed by all assets is
a) Long life
b) Great monetary value
c) Tangible nature
d) Future economic benefit - CORRECT ANSWER-d) Future economic
benefit
Which Foreign Direct Investment (FDI) attempts to acquire particular
resources at a lower real cost than could be obtained in the home
country?
a) Market-seeking FDI
b) Efficiency-seeking FDI
c) Resource-seeking FDI
d) Strategic asset-seeking FDI - CORRECT ANSWER-c) Resource-
seeking FDI
Under the Uniform Commercial Code (UCC) statute of frauds, which
of the following terms must be included in writing in order to satisfy
the writing requirement?
,a) The price of the goods.
b) The quantity of the goods.
c) The signatures and names of the buyer and the seller
d) The time and place for delivery - CORRECT ANSWER-b) The
quantity of the goods
Which of the following is an appropriate Federal Reserve action to
stimulate the United States economy?
a) Selling government bonds on the open market
b) Increasing the discount rate
c) Reducing the reserve requirement
d) Cutting taxes - CORRECT ANSWER-c) Reducing the reserve
requirement
Which of the following is true with regard to an exculpatory clause?
a) An exculpatory clause excuses one party from liability for his/her
own tortious conduct.
b) Where one party has a superior bargaining position that has
enabled him/her to impose an exculpatory clause upon the other, the
courts are inclined to nullify the provision.
,c) An exculpatory clause may be unenforceable for unconscionability.
d) All of the above are true - CORRECT ANSWER-d) All of the above
are true
Managers at ABC, Inc. analyze the current situation of their
organization and then develop plans to help their organization to
accomplish its mission and achieve its goals. This is known as:
a) Synergy planning
b) Strategy formulation
c) Functional planning
d) SWOT analysis - CORRECT ANSWER-b) Strategy formulation
A group that develops naturally as a result of employees' interaction
within an organization is referred to as
a) an informal group
b) a formal group
c) a work-team group
d) a formation group - CORRECT ANSWER-a) an informal group
When employees use email, word processors, electronic scheduling /
calendars, they are using which of the following?
, a) Transaction processing systems
b) Process control systems
c) Office automation systems
d) Decision support systems - CORRECT ANSWER-c) Office
automation systems
A standard procedure for numerically measuring a project's progress,
forecasting its completion date and cost and providing measures of
schedule and budget variation as activities are completed is referred
to as
a) program evaluation and review technique (PERT)
b) the critical path method (CPM)
c) a Gantt chart
d) earned value analysis (EVA) - CORRECT ANSWER-d) earned value
analysis (EVA)
High product differentiation is generally accompanied by
a) higher market share
b) decreased emphasis on competition based on price
c) higher profit margins and lower costs
d) significant economies of scale - CORRECT ANSWER-b) decreased
emphasis on competition based on price
