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POB Unit 3 Review
Test Description: Unit 3 review
Instructions: Answer all questions to get your test result.
1) 1. Mark and Susan, a recently married couple with full-time jobs, set a goal of putting $200 in savings every month to make a down payment on a home in five years. What type of goal have they set?
A
unrealistic
B
intermediate
C
long term
D
short term
2) Amber's academic adviser has asked her to set 3 academic goals for this semester. These goals are MOST LIKELY to be accomplished if:
A
Amber writes her goals down.
B
Amber discusses her goals with her parents.
C
Amber lets her friends set her goals.
D
Amber thinks about her goals weekly.
3) One element of a SMART financial goal is missing the in the example below. Which one is it?
A
attainable
B
I will save $150 each month to go on a vacation in one year.
C
timebound
D
Specific
4) Kaylee will save her allowance of $25 per month to purchase a $150 mp3 player in six months. This is an example of what type of goal?
A
this is not an example of a goal
B
long term goal
C
mid term goal
D
short term goal
5) I plan to save $1,500 to buy a used car by saving $75 from each paycheck. Which part of a SMART goal is this goal missing?
A
time bound
B
measurable
C
attainable
D
realistic
6) Herbie is in charge of the company's potluck picnic. He doesn't need help deciding who to invite. It is a company picnic so you invite the employees. This is an example of what type of decision?
A
minimum input
B
maximum input
C
moderate input
D
video input
7) Herbie is in charge of the company's potluck picnic. He needs to decide where to hold the picnic. He thinks it may be helpful to ask the employee steering committee. This is an example of what type of decision?
A
minimum input
B
moderate input
C
audio input
D
maximum input
8) Herbie is in charge of the company's potluck picnic. Since it is a potluck, he needs input from the entire group to coordinate who is bringing what. This is an example of what type of decision?
A
minimum input
B
maximum input
C
modern input
D
moderate input
9) This type of innovation occurs when a business either creates or improves a product.
A
process innovation
B
position innovation
C
product innovation
D
paradigm innovation
10) This type of innovation occurs when a business changes how something is done.
A
process innovation
B
product innovation
C
paradigm innovation
D
position innovation
11) This type of innovation occurs when the purpose of a product is changed.
A
process innovation
B
paradigm innovation
C
product innovation
D
position innovation
12) This type of innovation involves a significant change in thinking.
A
paradigm innovation
B
process innovation
C
position innovation
D
product innovation
13) When making an important decision for a business it is BEST to:
A
delegate the decision making to someone else
B
flip a coin
C
go with your gut feeling
D
use a decision making process
14) Which is an internal factor that might influence a business owner's decision making?
A
comfort with risk
B
market share
C
opinion of others
D
competitors' activities
15) An important problem-solving skill for individuals to have is the ability to be:
A
informational
B
objective
C
agressive
D
judgemental
16) What does the T stand for in SMART goals?
A
technology
B
time bound
C
team
D
terrific
17) In the decision-making process, which step occurs after the need is determined?
A
acting on the decision
B
gathering the information
C
making the decision
D
considering the choices
18) When Delores is finding solutions for obstacles at her job, she is:
A
innovating
B
inventing
C
problem solving
D
decision making
19) What does the S stand for in SMART goals?
A
scientific
B
specific
C
serious
D
special
20) Employees who have innovation skills are able to:
A
behave aggressively
B
think in new ways
C
react to problems
D
socialize effectively
*select an answer for all questions
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