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(12) What is a factor that affects a business's relations with its customers? A. Attitude of employees B. Location of suppliers C. Behaviour of competitors D. Condition of associates

A

(17) In a market economy, which of the following factors has an influence on what goods are produced: A. Profit B. Need C. Quotas D. OPinion

A

(32) If William wants to determine the dollar amount that he has earned before taxes and other deductions for the pay period, he should look at the ____________ on his paycheck stub A. gross wages B. net pay C. year-to-date gross earnings D. year-to-date net income

A (net is after deductions)

(69) An example of price in the hospitality industry is the amount a guest pays for A. one night at an all-inclusive resort B. dinner in a hotel's main dining room C. transportation to a full-service hotel D. a sightseeing trip arranged by a concierge

A (the price a guest pays for a primary service)

(83) Why is the audience a key factor to consider when developing viral marketing campaigns? A. They determine the type of product to give away B. They signal the type of internet medium that best reaches the audience C. They identify the time of day that the marketing campaign is to run on the internet D. They designate the theme of the viral marketing campaign

B

(85) Tony owns a charter fishing boat business on the Outer Banks of North Carolina. Which of the following web sites would you recommend for Tony to place a pay-per-click advertisement: A. www.surfboardsusa.net B. www.obxbaitandtackle.com C. www.redlobster.com D. www.whitewaterrafting.net

B

(44) The research data indicate a correlation of -1>r>0. What does that tell you? A. The two variables ten to increase or decrease together B. One variable increases as the other variable decreases C. There is perfect correlation between the two variables D. The two variables do not vary together at all

B (if they vary together: 0>r>1, if they do not vary r=0, perfect correlation: r=1)

(17) Which of the following is a basic question that all economic systems must answer: A. How long will these goods and services last? B. How much money will these goods and services make? C. How will these goods and services be produced? D. How many of these goods and services will sell?

C

(25) Which of the following negotiating strategies is appropriate to use when you won't see the other person again: A. Collaborative B. Accommodating C. Combative D. Compromising

C

(27) Before you can lead change in the workplace, you must first A. recruit others to help you make the change B. communicate how the change will be implemented C. indicate why the change is necessary D. plan the change with others

C

(41) If 60 people respond to a questionnaire and 20 answer "A", 20 answer "B", and 20 answer "C", what is the median? A. 60 B. A C. B D. C

C

(46) A major pharmaceutical company is considering replacing meetings with teleconferences and substituting regional meetings for national meetings. This consideration is in the response to which factor affecting marketing in the travel environment? A. Technology B. Competition C. Economic D. Legislation and regulation

C

(53) Requiring employees to wear appropriate clothing on the job is one way that businesses can maintain a(n) A. Industrial image B. Comfortable atmosphere C. Safe work environment D. Sanitary facility

C

(54) Which of the following is a true statement regarding a project champion? A. They are the same person as the project manager B. They are closely involved with the work of the project C. They can mobilize the necessary resources to get the project done D. They are usually a low-ranking employee in the business

C

(58) Jordan is in charge of a project that involves several vendors, so he must keep track of the invoices to make sure that the project is within budget. From which department would Jordan obtain copies of the invoices relating to the product: A. Inventory control B. Sales C. Accounts payable D. Service

C

(62) How do some hotels use automated systems in emergency fire situations A. To identify hazardous materials B. To open the fire doors C. To contact all guest rooms D. To prevent bomb threats

C

(65) What should people ignore when they are polishing and refining their ideas in order to make them work? A. Logical questions B. Personal suggestions C. Negative comments D. Industry feedback

C

(66) Should a job applicant let the interviewer know at the end of an initial job interview that s/he would like to have the job? A. No, the applicant should wait for the interview to offer the job B. Yes, the applicant can expect to be hired during the interview C. Yes, the applicant should say that they would really like to be hired D. No, the applicant will seem to be too anxious to fins a job

C

(71) What is a negative consequence to a business that engages in the unethical practice of price gouging? A. Excessive profits B. High sales C. Poor image D. Weak competition

C

(71)Why is it important for a business to communicate the core values of its products? A. To develop appropriate advertising B. To justify the price C. To appeal to the target market D. To analyse market research

C

(86) Some publishers provide with revised proofs of the advertisers' ads, which show the publishers A. Suggestions for illustrations B. Corrections that need to be made C. That corrections have been made D. Recommended copy revisions

C

1094 (3)Customers that buy travel goods and services have rights that: C. Vary according to region and type of business D. Are universal regardless of location or type of good or service purchased

C

(94) When hotel-restaurant guests are given an opportunity to study the menu before a server comes to take their order, which characteristic of a good sales approach is being applied: A. Sincere and friendly B. respectful and courteous C. enthusiastic D. properly timed

D

(95) Which of the following is good advice for a salesperson so follow when questioning customers: A. Ask personal questions B. Discourage the customer from asking questions C. When stock is limited, ask more questions D. Use pauses between questions

D

(98) Why is it important for salespeople to find out something about their customers before trying to sell them a good or service? A. To develop personal relationships B. To make conversation C. To ask for information D. To address their needs

D

(97) Mr and Mrs. Johnson traveled to New York City, spent the night at the Ritz Carlton, and ate dinner at Tavern on the Green. Their choices were motivated by the internal psychological factor of A. Esteem B. Belonging C. Safety D. Self-Actualization

A

(32) The three sections of a balance sheet represent the basic A. Accounting equation B. Bookkeeping system C. Financial quota D. Monetary policy

A (ALOE)

(77) Can any brand name be selected and used by a business? A. Yes, a business can use any name it wants to use B. No, the name must be legally available for use C. No, the name must be registered before it can be used D. Yes, brand names cannot be owned by a business

B

(78) When using color for billboard advertising, it is best to use A. a variety of primary and secondary hues B. primary colors C. a pastel color scheme D. excessive variations of tones and tints

B

(21) What type of currency is most likely to benefit a small country that relies heavily on exports to support its economy? A. Pegged B. Free-floating C. Speculative D. Decentralized

A (means that the currency is fixed to the value of something else -> such as another countries currency)

(80) What color harmonies tend to stimulate intense emotion and energy? A. Blue, green, and purple B. red, yellow, and orange C. black, blue, and yellow D. orange, green, and white

B

(76) Which of the following systems eliminates the need for customers to inspect each product before making a purchase: A. Warranties and guarantees B. Grades and standards C. Brands and packaging D. Health and sanitation

B

(81) An effective advertisement headline should A. criticize the competition B. indicate a benefit C. eliminate the need for additional copy D. offer a guarantee

B

(15)Your neighbour, Mr. Jones, grows several varieties of seasonal flowers in his garden. Because the flowers are beautiful and useful, they are considered to be A. Specialty goods B. Noneconomic Service C. Economic goods D. Economic services

C

(90) Which of the following should be done to maintain a display: A. Display props and fixtures should be dusted B. Display background paper should be changed C. Signs in the displays should be replaced D. Old staples form the display should be removed

A

(16) A business that begins selling winter holiday decorations in late autumn is creating ______ utility. A. Form B. Place C. Time D. Possession

C

(18) Fracton Enterprises and Garland Manufacturing are identical businesses that are supplied by Alta Wholesale. Fracton provides a holidy party for its suppliers, while Garland does not. Because of the holiday party, Alta Wholesale charges Fracton less for its merchandise than it charges Garland for purchasing the same quantity of merchandise. Which government legislation of competition is Alta violating? A. Robinson-Patman Act B. Clayton Act C. Sherman Antitrust Act D. Celler-Kefauver Antimerger Act

A

(18) Which of the following is true about business risk that is categorized as a "pure" risk: A. Insurance may be purchased to cover these risks B. The business will gain as a result of these risks C. These risks are similar to the risk of purchasing stock D. There is no way to protect the business from these risks

A

(20) When producers are hopeful about the economic business outlook, they often A. Increase their investment in capital goods B. Decrease their purchase of new goods C. Decrease their inventory levels D. Increase their investment in savings

A

(25) The questions, "Who is experiencing the conflict?" can provide insight about the A. Importance of the relationship B. Core issue surrounding the disagreement C. Other person's personality D. Type of disagreement that is occurring

A

(26) Which of the following is a barrier to assertive behaviour for some people: A. They are afraid of damaging their relationships B. They like to handle conflicts and disagreements C. They think people will call them negative D. They believe they have control over their behaviour

A

(33) Which of the following are usually responsible for analyzing a business's income statement A. Managers B. Customers C. Cashiers D. Bookkeepers

A

(38) A decision problem may be translated into several A. research problems B. sets of secondary data C. other decision problems D. situation analyses

A

(39) Which of the following marketing research designs is often referred to as statistical research: A. Descriptive research B. Causal research C. Numerical research D. Exploratory research

A

(4) What form of technology allows channel members to track a product's movement through the supply chain in real time? A. Radio Frequency Identification (RFID) B. Universal Product Code (UPC) C. Supplier Performance Index (SPI) D. Global Transit Mapping System (GTMS)

A

(48) A tour operator put together a tour package for baby boomers who are interested in southwestern art. The tour group will visit a variety of locations in the southwest but will operate individually rather than as a guided tour. What factors did the tour operator use to segment the market? A. Age and life cycle B. Gender and culture C. Geography and gender D. Personality and life cycle

A

(48) How has technology affected the travel-agency industry? A. Technology has threatened the travel-agency industry B. Technology is not related to the travel-agency industry C. Technology has eliminated the travel-agency industry D. Technology has contributed to the growth of the travel-agency industry

A

(56) By purchasing just the quantity of supplies that is needed purchasing can A. Minimize inventory investment B. Provide an uninterrupted flow of supplies C. Buy supplies at the lowest possible price D. Plan the company's cash flow

A

(59) In which of the following situations might a project planner estimate that it will take three 40-hour weeks to complete a task that can be performed in 50 hours: A. The assigned employee schedules a one-week vacation B. Management organizes a two-day weekend meeting C. Many employees work flexible 40-hour schedules D. The business plans to observe a one-day national holiday

A

(59) The primary reason for a business to carefully track all its vendors' invoices it to A. Monitor and control expenses B. Confirm the account receivable C. Evaluate the vendors' performance D. Check for tax discrepencies

A

(64) Rob decides that he really can't know if Patrick will help him unless he asks, so he decides to do so. Which step of the seven-step problem-solving method does this situation illustrate? A. Select and implement a solution B. Evaluate the solution C. Define the problem D. Brainstorm possible solutions

A

(65) Which problem-solving method requires you to think of things that could make the problem worse? A. Reverse brainstorming B. Brainstorming C. Seven-step D. Finding the root of the problem

A

(68) Which of the following job titles is considered a travel and tourism career: A. Director of convention and visitors bureau B. Director of recreation and parks C. Concession manager D. Museum conservator

A

(69) A new airline offers much lower fares than its competitors to attract potential travellers. This is an example of A. Penetration pricing B. Psychological pricing C. Price lining D. Price skimming

A

(77) Which of the following is an advantage associated with RSS feeds: A. They lack spam B. They minimize search engine standings C. They replace the need for web pages D. They enable customization of web content

A

(87) The Elm Creek Bed and Breakfast, located in rural southern indiana, is interested in generating more customer traffic at its website. Its target market is honeymooners and married couples aged 25 to 65 who live in southern indiana or northern Kentucky. Which of the following online marketing options is the most likely to attract the right audience to the hotel's website: A. A link to the Midwest Lodging Directory website B. An article about the hotel in Teen Ink e-zine C. An advertisement in the Indiana Adventures e-newsletter D. A link on the US Hotel and Lodging web portal

A

(88) Pedro's Grill is ready to roll out its Caribbean summer menu. One way to prepare the restaurant for the rollout is by A. placing tropical-themed tent cards on each table B. sending a newsletter to trade publications C. requiring all employees to wear red sweaters D. hiring a jazz musician to entertain guests

A

(89) The best type of display for a hotel coffee shop to use to protect freshly baked desserts while still promoting their sales is a(n) ___________ display A. open B. island C. closed D. end cap

A

(100) What level of management is responsible for establishing company objectives, selecting strategies for reaching goals, and providing leadership for the company? A. First-level management B. Executive management C. Middle management D. Supervisory management

B

(2) Jake wanted to run his own business but was unsure that he had adequate business skills to be successful. Which type of business would give Jake the help he needs? A. Sole proprietorship B. Business-format franchise C. Private corporation D. Product trade-name franchise

B

(20) Countries record the flow of imports, exports, foreign aid, business investment, foreign investments, and money spent by tourists in order to determine their A. Number of multinationsals B. Balance of payments C. Need for trade missions D. Volume of production

B

(26) Employees who set realistic goals and standards for themselves often are able to control their A. Ability to advance B. Level of stress C. Work schedule D. Group participation

B

(28) The goal-setting process should be A. Vague B. Collaborative C. Complex D. Solitary

B

(35) A current employee who is asked to help orient a new employee will be serving as the new employee's A. Apprentice B. Sponsor C. Mentor D. Trainee

B

(4) The Parnell Company buys a variety of similar goods and sells them to specialty shops for resale. What type of intermediary is the Parnell Company? A. Agent B. Wholesaler C. Industrial User D. Ultimate consumer

B

(43) An advertising agency hired by a congressional candidate to develop the advertising program for a political campaign is an example of ________ marketing A. Professional B. Services C. Product D. Bipartisan

B

(45) How are guest history records used by the marketing division of hotels/motels? A. Monitor guests' requests B. To prompt guests to return C. To upgrade guest services D. To collect overdue accounts

B

(45) How can properties use the information found in guest history records? A. To schedule payment plans B. To target specific markets C. To recruit new employees D. To process room accounts

B

(45) Which of the following statements is true about B2B (business-to-business) marketing: A. Professional buyers tend to seek product information from their peers B. Businesses tend to focus on personal selling rather than promotion C. One employee tends to make all of the business's buying decisions D. After-the-sale service is not a primary factor when making a buying decision

B

(47) Which of the following is a true statement about marketing-plan formats: A. They must be double spaced B. They vary from business to business C. They must include charts and graphs D. They must put situation analysis before desired target market

B

(5) A bus-tour company develops a brochure that describes new tours it is offering in the upcoming year and sends it to the travel agencies that sell its tours. The travel agencies will use the brochures to communicate the tour information to their clients This is an example of coordinating__________ with ________. A. operations management; selling B. channel management; promotion C. information management; pricing D. product/service management; production

B

(52)When preparing the property's marketing plan, Samantha researched the current, popular travel destinations; the ways in which visitors spend their money; the duration of their vacations; and their demographics. These are examples of _________ trends. A. Competitive B. Visitor C. Technology D. Industry

B

(54) A new cashier handled customer's purchases without noticing that the customer's signature did not match the imprint from the charge card. Which of the following kinds of security precautions might have prevented this loss to the business: A. Pilferage prevention B. Fraud Prevention C. Burglary Prevention D. Robbery prevention

B

(10) An executive summary should A. be at least 20 pages long B. give an expanded version of a report C. not be longer than 10% of the full report D. be read only after reading the full report

C

(14) An individual books a hotel reservation on an Internet web site. This is an example of A. Product B. Promotion C. Place D. Possession

C

(14)The days Inn lodging chain considers the factors of accessibility and interception when building properties. These factors are part of which aspect of the place (distribution) element? A. Open House B. Global reservation systems C. Appropriate location D. Familiarization tours

C

(47) Which of the following is an umbrella term referring to any type of internet transactionL A. URL B. E-commerce C. E-business D. Web site

C (commerce is just monetary transactions but business includes non-monetary transactions such as use of services)

(68) The hospitality industry consists of __________ businesses. A. destination planning, financial, and fine dining B. lodging, transportation, and fine dining C. prepared food, entertainment, and lodging D. entertainment, destination planning, and prepared food

C (lodging, transportation, and destination planning are all aspects of the travel and tourism industry)

(46) Wireless networks are now more common due to A. Government regulations requiring them B. Information overload C. Increased distribution of the workforce D. Increased competition

C (since employees do not just wok in offices anymore)

(1046) (1) The wrongful interference with the right of a business to operate is the basis of business A. Compliance B. Liability C. Fraud D. Tort Law

D

(1151) (2) Quantex is organized as a partnership with eight equal partners. The partners would like to expand their business but limit the amount of money they could personally lose if the business were to fail. What form of ownership should Quantex consider? A. Partnership B. Sole proprietorship C. Monopoly D. Corporation

D

(15) The social science concerned with the basic problem of scarcity is called A. Manufacturing B. Purchasing C. Marketing D. Economics

D

(27) One reason why consensus building encourages commitment and support from all group members is because A. The process promotes thinking B. The process encourages creativity C. Everyone has equal power D. Everyone agrees with the decisions

D

(29) When a business's insurance premiums are high, it is most often because the A. Security is optimal B. Liability is low C. Threats are minimal D. Risk is high

D

(3) Great Adventures Travel Agency is preparing a new brochure for its clients which will include the following information: What is included in the package, reservation procedures, deposit and payment schedule, cancellation and refund policy, and the tour operator's limited responsibility and liability. This information is required by the two trade associations serving the tour segment of the travel industry and is known as. A. Federal regulation B. Performance bond C. Code of ethics D. Statement of conditions

D

(30) What type of financial-services provider helps individuals manage their assets and then distributes those assets to beneficiaries A. Probate court B. Guardian C. Executor D. Estate Planner

D

(31) When customers buy on credit, the money owed he business by the customers is part of the business's A. Cash receipts B. Current liabilities C. Accounts payable D. Accounts receivable

D

(33) A business's balance sheet lists $4,150 in cash, $12,560 in accounts payable, $2,200 in taxes, $18,475 in machinery and equipment, and $3,025 in interest payable. Calculate the business's total liabilities. A. $24,535 B. $15,150 C. $21,500 D. $17,785

D

(33) A person with a negative attitude toward risk is called A. risk-tolerant B. paranoid C. dauntless D. risk-averse

D

(4) Which of the following would not be considered an intermediary in a channel of distribution A. Wholesaler B. Retailer C. Agent D. Producer

D

(40) Which of the following would be most useful in tracking environmental changes in technology that impact hospitality and tourism marketing: A. Consumer magazines B. Customers C. Average check size D. Trade magazines

D

(59) What do businesses often develop in order to properly maintain their equipment and physical facilities? A. Regular housekeeping plan B. Routine landscaping service C. Ongoing security measures D. Continual inspection program

D

(67) Licenses, certificates, awards, and honors should be included in the _________ section of a resume A. personal data B. career goals C. experience D. education

D

(73) Which of the following is an external source that resort gift shops use to identify the goods and services that customers want and need: A. Owners B. Shippers C. Buyers D. Vendors

D

(75) A business with a limited promotional budget could benefit from choosing a vendor that A. pretickets goods B. provides sales training C. offers exchange privileges D. provides advertising aids

D

(75) After a tour operator brainstorms ideas for new tours, the next step is to _________ the ideas. A. develop B. test C. implement D. screen

D

(76) Which of the following is a characteristic of most online banner advertisements A. Productive B. Restrictive C. Selective D. Interactive

D

(83) An important purpose of checking a business's advertising proofs is to A. determine how long the ad should be run B. make sure the firm's name is correct C. compare the ad with competitors' ads D. select the media that will present the ad

D

(92) One way of tracking marketing-communications activities is through the use of A. Interviews B. Questionnaires C. Surveys D. Databases

D

(75) Claire booked a room at the inn in Charleston, SC. When she arrived, she parked her car in the on-property parking garage. After checking in, she used the inn's check cashing service and got restaurant recommendations from the concierge. In the evening, Claire enjoyed the cookies and milk provided by the inn. What is the supporting product in this scenario? A. Restaurant recommendations B. Check-cashing service C. On-property parking garage D. Cookies and milk

D (all others are facilitating products)


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