ESB CERTIFICATION EXAM 2025
QUESTIONS AND ANSWERS
James owns a restaurant with beginning cash balance of $5,000, $30,000 in sales, $2,000 in
utilities, $6,000 in loans and $4,000 in marketing. What is James ending cash balance? -
ANS $24,800
Shelly owns a car dealership. She just received a shipment of teslas and paid $70,000 for each
one and wants to make 25%. What should her selling price be? - ANS $87,500
TRUE OR FALSE: Mortgage Payments are Long Term Liabilities - ANS True
Equipment is considered ... - ANS a long term asset
ROI is calculated by ... - ANS Net Profit / Cost of Investment X 100
Run Rate is calculated by ... - ANS 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
Michelle's run rate? - ANS $72,000
Which of the following is a variable expense? - ANS commission payments
1
Page
@COPYRIGHT FYNDLAY 2025/2026
, Anthony owns a bike shop. His monthly cost is $2,750.00. Each bike costs $275.00. How many
bikes does he have to sell to break even? - ANS 10
How does an entrepreneur determine his / her selling price? - ANS selling price = cost X
desired profit margin + cost
TRUE OF FALSE: Equity = Assets + Liabilities - ANS False
________ is the owner's remaining value after all liabilities have been deducted. - ANS Equity
Peter owns a barber shop. His total monthly cost is $3,500.00. He charges $15.00 per hair cut.
How many hair cuts must his shop perform to break-even? - ANS 234
TRUE OR FALSE: Fixed Costs change depending on the volume of production. - ANS False
Which 2 types of information may be found on a profit and loss statement? - ANS Revenue /
Expenses
TRUE OR FALSE: Customer Retention Rate is the percentage of existing customers who remain
customers after a given period. Your customer retention rate can help you better understand
what keeps customers with your company. - ANS True
TRUE OR FALSE: Customer Retention Rate can also signal opportunities to improve customer
service - ANS True
TRUE OR FALSE: Customer Acquisition refers to bringing in new customers - or convincing
people to buy your products - ANS True
2
Page
In which step of the sales process would you address customer concerns? - ANS Objection
@COPYRIGHT FYNDLAY 2025/2026
QUESTIONS AND ANSWERS
James owns a restaurant with beginning cash balance of $5,000, $30,000 in sales, $2,000 in
utilities, $6,000 in loans and $4,000 in marketing. What is James ending cash balance? -
ANS $24,800
Shelly owns a car dealership. She just received a shipment of teslas and paid $70,000 for each
one and wants to make 25%. What should her selling price be? - ANS $87,500
TRUE OR FALSE: Mortgage Payments are Long Term Liabilities - ANS True
Equipment is considered ... - ANS a long term asset
ROI is calculated by ... - ANS Net Profit / Cost of Investment X 100
Run Rate is calculated by ... - ANS 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
Michelle's run rate? - ANS $72,000
Which of the following is a variable expense? - ANS commission payments
1
Page
@COPYRIGHT FYNDLAY 2025/2026
, Anthony owns a bike shop. His monthly cost is $2,750.00. Each bike costs $275.00. How many
bikes does he have to sell to break even? - ANS 10
How does an entrepreneur determine his / her selling price? - ANS selling price = cost X
desired profit margin + cost
TRUE OF FALSE: Equity = Assets + Liabilities - ANS False
________ is the owner's remaining value after all liabilities have been deducted. - ANS Equity
Peter owns a barber shop. His total monthly cost is $3,500.00. He charges $15.00 per hair cut.
How many hair cuts must his shop perform to break-even? - ANS 234
TRUE OR FALSE: Fixed Costs change depending on the volume of production. - ANS False
Which 2 types of information may be found on a profit and loss statement? - ANS Revenue /
Expenses
TRUE OR FALSE: Customer Retention Rate is the percentage of existing customers who remain
customers after a given period. Your customer retention rate can help you better understand
what keeps customers with your company. - ANS True
TRUE OR FALSE: Customer Retention Rate can also signal opportunities to improve customer
service - ANS True
TRUE OR FALSE: Customer Acquisition refers to bringing in new customers - or convincing
people to buy your products - ANS True
2
Page
In which step of the sales process would you address customer concerns? - ANS Objection
@COPYRIGHT FYNDLAY 2025/2026
