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Demo FRM 1301 Midterm Review
Test Description: Review of chapter 1 to 5.
Instructions: Answer all questions to get your test result.
1) The following label is considered a marque brand name.
A
Walmart
B
Target
C
Coca Cola
D
Victoria Secret
2) A Centralized Organization is also called...
A
Where most of the stores are centrally located
B
A Headquarter
C
A Flag Ship Store
D
The Main Warehouse
3) The Control Division of a company is not responsible for what?
A
Quality control of all products
B
Expenses and Consumer Credits related to the company
C
Account Receivable and Account Payable
D
Planning and supervising the taking of perpetual and physical inventories
4) The Organizational Structure identifies what in a company?
A
The duties and responsibilities of those in the company
B
The Mission Statement and the Social Responsibility the company stands for
C
The Mission Statement of a company
D
What the organization is about
5) GoDaddy.com is a website that sells what?
A
Sell gift items for dads
B
Sell traveling items
C
Sell websites
D
Sell URLs
6) There were 3 types of motives mentioned in the text book under Chapter 4. Which one was not listed?
A
Financial Motives
B
Emotional Motives
C
Rational Motives
D
Patronage Motives
7) What is not considered a Rational Motive?
A
Serviceability
B
Price
C
Quality
D
Practicality
8) The correct order of needs for Maslow's Hierarchy is as follows...
A
Safety, social need, survival, self-esteem, self actualization
B
Survival, safety, social need, self actualization, self-esteem
C
Safety, survival, social need, self-esteem, self actualization
D
Survival, safety, social need, self-esteem, self actualization
9) Patronage Motives involve shopping...
A
during American holidays such as 4th of July, Labor Day, and Veterans Day
B
at companies that continually meets your expectations and needs
C
at only American Companies
D
during special events of the year
10) Demographics does not include the study of...
A
Local features and inhabitants
B
Income and race
C
age and gender
D
employment status and occupation
*select an answer for all questions
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