ESB CERTIFICATION EXAM REVIEW QUESTIONS WITH CORRECT ANSWERS 2026

ESB CERTIFICATION EXAM REVIEW
QUESTIONS WITH CORRECT ANSWERS 2026
James owns a restaurant with beginning cash balance of $5,000, $30,000 in sales, $2,000 in utilit
ies, $6,000Pin loans and $4,000 in marketing. What is James ending cash balance? -
CORRECT ANSWER -$24,800



Shelly owns a car dealership. She just received a shipment of teslas and paid $70,000 for each on
e and wants to make 25%. What should her selling price be? - CORRECT ANSWER -$87,500



TRUE OR FALSE: Mortgage Payments are Long Term Liabilities - CORRECT ANSWER -True



Equipment is considered ... - CORRECT ANSWER -a long term asset



ROI is calculated by ... - CORRECT ANSWER -Net Profit / Cost of Investment X 100



Run Rate is calculated by ... - CORRECT ANSWER -Current Revenue for one month X 12



Michelle owns a bakery shop. Her revenue at the end of last month was $6,000. What is Michell
e's run rate? - CORRECT ANSWER -$72,000



Which of the following is a variable expense? - CORRECT ANSWER -commission payments



Anthony owns a bike shop. His monthly cost is $2,750.00. Each bike costs $275.00. How many bi
kes does he have to sell to break even? - CORRECT ANSWER -10



How does an entrepreneur determine his / her selling price? - CORRECT ANSWER -
selling price = cost X desired profit margin + cost

, TRUE OF FALSE: Equity = Assets + Liabilities - CORRECT ANSWER -False
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is the owner's remaining value after all liabilities have been deducted. -
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X2 CORRECT ANSWER -Equity X2 X2




Peter owns a barber shop. His total monthly cost is $3,500.00. He charges $15.00 per hair cut. H ow
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many hair cuts must his shop perform to break-even? - CORRECT ANSWER -234
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TRUE OR FALSE: Fixed Costs change depending on the volume of production. -
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CORRECT ANSWER -False
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Which 2 types of information may be found on a profit and loss statement? -
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CORRECT ANSWER -Revenue / Expenses
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TRUE OR FALSE: Customer Retention Rate is the percentage of existing customers who remain cu sto
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mers after a given period. Your customer retention rate can help you better understand what keeps
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customers with your company. - CORRECT ANSWER -True X2 X2 X2 X2 X2 X2 X2




TRUE OR FALSE: Customer Retention Rate can also signal opportunities to improve customer ser vice
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- CORRECT ANSWER -True
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TRUE OR FALSE: Customer Acquisition refers to bringing in new customers -
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or convincing people to buy your products - CORRECT ANSWER -True
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In which step of the sales process would you address customer concerns? - CORRECT ANSWER -
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Objection
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