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Entrepreneurship
Test Description: Characteristics and Traits of an Entrepreneur
Instructions: Answer all questions to get your test result.
1) Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs work until the job is done?
A
Persistent
B
Inquisitve
C
Self-Confident
D
Creative
2) Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs develop a plan of action and make decisions to help achieve that plan?
A
Independent
B
Risk-Takers
C
Goal-oriented
D
Self-Confident
3) Emma and Ivy are considering beginning a jewelry-making business. They have been collecting, reviewing, and interpreting the surveys they distributed last week about their business idea. Emma and Ivy are in what stage of the entrepreneurial process?
A
Actualization
B
Concept Development
C
Harvesting
D
Discovery
4) What could cause a new business to run short of cash during its first year?
A
Failure to apply for a loan or a grant
B
Failure to secure proper permits and licenses
C
Failure to pay taxes for the new business
D
Shortage of trained employees
5) Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs are accountable for their actions?
A
Persistent
B
Creative
C
Responsible
D
Inquisitive
6) Which personal characteristic of successful entrepreneurs reflects that successful entrepreneurs want to make their own decisions, set their own schedules, and can work without supervision?
A
Goal-Oriented
B
Self-Confident
C
Independent
D
Risk-Takers
7) Listing people and businesses who might give money to start the business, completing an application for a business loan at the bank, and advertising for people to work in the new business are all classified as which stage of the entrepreneurial proce
A
Resourcing
B
Discovery
C
Actualization
D
Concept Development
8) What is an example of an activity that is performed during the actualization phase of the entrepreneurial process?
A
Hold a clearance sale to reduce inventory
B
Sell stock to the public through the NYSE
C
Decide to locate the business in Charlotte
D
Conduct a survey of potential customers
9) What could cause a new business to have very few sales during its first year?
A
Lack of a good advertising campaign
B
Failure to pay taxes for the new business
C
Lack of a trademark for the company logo
D
Failure to apply for a loan or a grant
10) What could cause a new business to not be able to keep up with the demand for its new service?
A
Failure to pay taxes for the new business
B
Shortage of trained employees
C
Lack of a good advertising campaign
D
Failure to apply for a loan or a grant
*select an answer for all questions
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