Marketing iCEV Exam Questions

Which is NOT a criterion banks use for evaluating loan applicants?

Control

Which of the following is the most complicated form of business?

Corporation

All are examples of economic risks except:

Customer dishonesty

Which of the following is NOT an example of unethical behavior occurring in the workplace?

Employment contingent upon passing a drug screening

Which of the following is NOT an ethical issue raised due to technological advances in the workplace?

Encourages deceptive advertising

Which of the following is a business ethics development from the 1960s?

Established codes of conduct and value statements

A lawyer believes his client is guilty, but remains professional and represents his client. This is an example of which of the following?

Ethical behavior

Sometimes people in business will encounter a complex situation in which they have difficulty choosing between a moral and an immoral act. Which of the following terms can be used to describe such a situation?

Ethical dilemma

Which of the following is appropriate when evaluating the identified alternatives to an ethical decision?

Exclude personal perspectives

Raising your credit standing is an advantage of equity capital.

FALSE

Amendment XIV to the U.S. Constitution in 1868 resulted in the prohibition of pay discrimination on the basis of sex.

False

Selecting the best choice is final step of the ethical decision-making process.

False

Uncertainty is the possibility of loss, damage or any undesirable event.

False

Unprofitable firms negatively affect the economy by increasing the job market and increasing salaries and benefits.

False

Which of the following is an example of a natural risk?

Fire

How many steps are in the risk management process?

Five

Which of the following types of utility enhances value by creating more useful or desirable products out of raw materials or separate parts?

Form

Which of the following defines workplace politics?

Games played in a workplace environment to achieve status, advancement and money

Advantages of entrepreneurship include which of the following?

Getting to set your own work schedule

Protection for business, individuals and resources are NOT provided by which of the following types of government departmental regulation?

NHAC

Which of the following is NOT one of the four types of risk?

Political

Which of the following is NOT one of the four categories of risk?

Practical

According to the American Management Association (AMA) and Human Resource Institute (HRI), what is the number one cause of unethical business conduct?

Pressure of meeting a deadline

Risk identification involves source analysis and __________ analysis.

Problem

Which of the following defines business ethics?

Professional standards of conduct, based on moral principles and values, guiding decision-making and actions

Ron opened the first McDonald's® in his small town after reading about the success of others in his state. This is an example of which way to enter into business?

Purchased a franchise

Which of the following is NOT one of the four risk management techniques?

Risk evasion

Installing security cameras is an example of which risk management technique?

Risk reduction

Which of the following is the most common risk management technique?

Risk transfer

When describing supply and demand, which of the following defines when a product is demanded in larger quantities than is produced?

Shortage

An economic system in which there is increased government involvement where the goal is to keep prices low and provide jobs for everyone is known as which of the following?

Socialism

Steve lives in a neighborhood close to a waste water company. The company's water solution will directly affect the water quality in Steve's home. What is Steve's relationship to the waste water company?

Stakeholder

Which of the following best describes a business which takes effort to protect the environment and promotes using renewable resources?

Sustainable business

Risk identification which breaks down and groups risks into categories based on previous experience and knowledge is known as which of the following?

Taxonomy-based

Current events can impact personal financial decisions, particularly through the stock market?

True

Ethical choices are made based on moral principles and values while legal choices are made according to the law.

True

Gross National Income includes all of the income earned by a country's residents and businesses including those earned abroad.

True

When companies are understaffed employees can become overworked, cause a hostile work environment and increase the time of production.

True

Which of the following is NOT an example of a situation in which an employee can apply the Family and Medical Leave Act of 1993?

When caring for a great-aunt or great-uncle with a serious medical condition

Which of the following is NOT one of the basic economic questions listed in the presentation?

When will we produce those goods and services

You should review your risk management techniques every __________.

Year

A country possessing unique resources or capabilities to allow the lowest cost of production for a product is known as which of the following?

Absolute advantage

Businesses can handle risks through which of the following?

All of the above

Sources of capital include which of the following?

All of the above

The factors of a start-up cost estimate include which of the following?

All of the above

Which of the following is NOT a government regulation created to protect employees from unethical business practices?

Amendment XIV to the U.S. Constitution in 1868

Which of the following is the first step of the ethical decision-making process?

Identify the ethical problem

Which of the following terms is defined as "conduct based on or authorized by law which is established by society to maintain order and protect people and property from harm?"

Legal behavior

Which of the following should a person NOT do during an ethical decision-making process?

Make a choice based on the company's profits

Anna owns a neighborhood bakery. She consults her accountant to make sure she pays proper taxes, uses good quality ingredients for her products, and provides her employees a safe working environment. Which of the following CANNOT be used to describe Anna's actions?

Mannerly behavior