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Demo FRM 1301 Midterm Review
Test Description: Review of Chapters 1 to 5.
Instructions: Answer all questions to get your test result.
1) What is a the original name for SPECIALTY STORES?
A
Mini departments within a large department store
B
Limited-line stores
C
Specialty stores are a new concept within the last decade.
D
Limited inventory stores
2) What type of store is Target?
A
Specialty Store
B
Discount Operations
C
Off-Price Merchant
D
Franchise Operations
3) Fashion manufacturer's Outlets are...
A
not usually located in Full Priced traditional malls
B
great for finding new fashion trends
C
used for branding purposes only
D
stores like Target and Marshall
4) Marshalls is considered a
A
Off-Priced Operation
B
Manufacturer's Outlet
C
Discount Store
D
Warehouse Club
5) What does Etailing stand for?
A
Internet Purchasing
B
Electronic Purchasing
C
Internet Retailing
D
Electronic Retailing
6) Multi-Channel means...
A
selling through different types of medium for reaching customers
B
different types of medium for watching television
C
selling through more than one type of medium for reaching customers
D
different types of medium for reaching customers
7) CEO stands for...
A
Company Executive Officer
B
Company Executive Operation
C
Chief Executive Officer
D
Chief Executioner of Operation
8) Retail Trading Areas are...
A
Where you can trade in your belongings for something in exchange
B
Areas where stocks of companies are traded
C
Where stocks and bonds are sold and bought.
D
Areas inclusive of where the customers live and will drive to a particular area to shop.
9) Rational Motives
A
are determined by serviceability, quality, taste, and look
B
are determined by care, serviceability, name brand, and how fast the items arrive
C
are determined by what makes sense
D
are determined by price, care, serviceability, and practicality
10) Maslow's Hierarchy does not list this as the 5 levels of needs...
A
Money
B
Social Needs
C
Safety
D
Self Actualization
*select an answer for all questions
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