Loss Prevention Qualification
Every Loss Prevention professional must learn to find harmony between their personal lives and professional responsibilities. This is commonly referred to as:
work & life balance
Any unwelcome verbal, written or physical conduct that either denigrates or shows hostility or aversion towards a person on the basis of race, sex, color, national origin, religion, sexual orientation, age, veteran status, political affiliation, or disability; when such conduct creates an intimidating or hostile work environment, interferes with an employee's work performance, and/or affects employment opportunities is known as:
workplace harassment
When it comes to deterring external retail theft, there is no substitute for an alert, well trained sales team. This common retail service practice emphasizes that whenever a customer enters the store, and whenever a customer comes near a store associate, the associate should look the customer in the eye, greet them and ask them if they need any assistance.
"Meet & Greet" Philosophy
If the Ladies' Apparel department for a retailer covers 300 square feet and does $60,000 in sales over the course of a particular selling period, what is the Sales per Square Foot?
$200 per square foot
If a store has a Net Profit of 4% and that same store incurred a loss of $150 on a register, then what would be the dollars needed to offset that loss in incremental sales?
$3750 in sales
n order to establish an effective Training & Awareness program that best suits our needs, engages our employees and sends the desired message, a primary objective will be to:
$75,000 in sales
If a store has a Net Profit of 4% and that same store incurred a loss of $40,000 in inventory shrinkage, then what would be the dollars needed to offset that loss in incremental sales?
&1,000,000 in sales
A store does $40 million in sales over the course of a year and has $800,000 in recorded losses over the same year, what is their shrink percentage?
2%
The way that we lift things, the way that we handle equipment, the way we operate a telephone or use a computer mouse, even the way that we sit while at work can be improved to reduce our risks of injury with the proper adherence to this science, which is the study of the interaction between a person and a machine:
Ergonomics
Generally speaking, this type of retailer involves those that specialize in non-apparel items such as Office Supplies, Bookstores, Drug stores, Electronics, Sporting Goods, and similar retailers. The stores may stand alone or be included in a mall or strip center, and offer their own unique set of opportunities and issues based on the specific merchandise that is sold:
Category Killers
In most retail organizations, a single individual cannot be responsible for verifying the count for the point of sale drawer, preparing the store's deposit, delivering the deposit to the bank, and then verifying the deposit statement with the daily sales reports. There should be at least two people involved in this process, and in an ideal environment, a different person involved each step of the way. This practice is commonly referred to as:
A Segregation of Duties
An accurate comprehension and perspective on the many different elements of shrink control, how those elements are interrelated with the other aspects of the business, and cultivating a way of thinking that instills a sense of urgency and importance that shrink issues must hold in our day to day tasks and responsibilities are all critical components of:
A Shrink Awareness Plan
A well executed Performance Review will emphasize:
growth, development, and communication
The path of successive opportunities that make up our worklife; and the pursuit of progressive achievement that we build throughout the course of our adult lives is known as:
A Career
Loss Prevention principles should be built on a positive, upbeat and constructive foundation. Instead of simply looking to uncover dishonesty, we should also strive to promote values and integrity. We should look to establish personal integrity; demonstrating the desire to make choices that are objective and honorable and spreading that message through our awareness training programs. This important Loss Prevention concept is known as establishing:
A Culture of Honesty
Intended to provide employees with procedures for handling or working with a substance in a proper and safe manner, this form provides data regarding the properties of a particular substance, and can provide an important component for our safety concerns in the workplace:
A Material Safety Data Sheet
Which of the following product lines might commonly be protected through the use of Ink tags?
A sweater
The actions taken when we recognize that an individual is involved in a theft (or we believe that the individual through their behavior may become involved in a theft) to make the individual aware of our presence and thus discourage the dishonest activity is known as:
Active Deterrence
Representatives of a company whose purpose is to procure the goods/products that are to be sold to its consumers; selecting specific goods and negotiating the quantity of goods purchased and the price per unit at which those goods are purchased are commonly known as:
Buyers
Exploring what happened, what caused an event to happen, who was responsible, what action should be taken to correct the situation and what steps should be taken to prevent the incident from happening again describes the purpose of:
An Investigation
A strategy designed to help manage the difference between how much inventory is needed in the stores to meet sales needs, and how much product will actually be available for the stores to sell is known as:
An Open to Buy Strategy
This type of retailer would categorize what you might typically consider when envisioning the traditional Loss Prevention environment, encompassing the classic Department store-type culture with varying market niches. Generally the stores are larger in size, and maintain an exclusive Loss Prevention team within the store:
Big Box Retailers
Microorganisms such as viruses or bacteria that are carried in blood and can cause harmful illnesses and disease are known as:
Bloodborne Pathogens
n order to establish an effective Training & Awareness program that best suits our needs, engages our employees and sends the desired message, a primary objective will be to:
Build a program the reflects the company culture
The unlawful and/or unauthorized entry of a structure - or unlawfully remaining within a structure - with the intent to commit any crime is known as:
Burglary
A method used in retail to convince those with less than honorable intentions that there is a legitimate chance that they are being watched - whether we are actually watching or not, is commonly referred to as:
Concealed Surveillance
The direct amount that the retailer pays for product, those expenses necessary to get merchandise into inventory and ready for sale, plus any shipping or handling costs is known as:
Cost of Goods
The positive return made on an investment after all costs have been accounted for is known as:
Economic Profit
Employing one of several technologies, these widely recognized and commonly utilized security devices are the products most often associated with a preventative approach to merchandise management. Product tags are attached directly to the merchandise, with pedestals commonly located at the entrances of a store; sounding when one of the tags has passed into the frequency/field ranges:
Electronic Article Surveillance (EAS) tags
Which of the following provides an opportunity for employees to anonymously report theft or potential theft situations, as well as other unscrupulous activities?
Employee Hotline programs
From a statistical perspective, which of the following typically accounts for the greatest percentage of retail losses?
Employee theft
These reports help us to quickly spot errors and exceptional register activity that might point to poor performance and/or potentially fraudulent activity. They allow us to effectively identify, track and manage all transactions and activity that occurs at our register areas/point of sale terminals:
Exception Report
If you were going to use a camera system to monitor the entrances/exits of your location, or used to monitor the parking lot areas of a location, what type of camera system would typically be used?
Fixed Cameras
The use of deception, trickery or other dishonest means in order to deprive another of their money, property or other resources is known as:
Fraud
An alert and conscientious sales associate is a shoplifter's worst enemy. Approaching and greeting customers, making eye contact, offering assistance and other practices that help to effectively manage the customer visit are examples of how good Loss Prevention practices can effectively correspond to:
Good Customer Service Practices
Strong product presentation coupled with proper and effective use of store fixtures and displays will increase sales for the merchandise, draw in more customers, eliminate many opportunities for dishonest customers, increase associate exposure to the specific area and provide improved visual indicators when product is missing. These are all examples of how good Loss Prevention practices can effectively correspond to:
Good Merchandising Practices
A well constructed Performance evaluation program can:
Help align employees with the overall organizational strategy
These reports offer us real-time data on inventory levels for specific products, sales history for those items, replenishment schedules, and product availability in surrounding stores:
Inventory Management Report
Who holds the responsibility for making an arrest following a shoplifter incident?
Law Enforcement
The business framework for the management of the acquisition, storage, transportation and delivery of goods along the supply chain is known as:
Logistics
The total process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, organizations, and events to create and maintain our relationship with the customer is commonly known as:
Marketing
This is the dollar amount or percentage added to the cost of merchandise to get the retail selling price of the product:
Markup
Typically utilized with product that would be considered high risk for pilferage, these alarm devices are often attached to an individual piece of merchandise displayed on the selling floor and subsequently secured to the display stand.
Merchandise Alarms
Why is it important not to mix products containing ammonia and bleach, and to avoid storing these products in the same location?
Mixing ammonia and bleach releases Chlorine gas, which can be lethal
The difference between all expenses (including the costs of goods and all variable expenses) and total sales revenue is known as:
Net Margin
The dollar amount a seller collects after deducting all of the various costs that are associated with a sale is known as:
Net Sales
What is the number one work related illness in the United States based on the frequency, severity, and preventability of diseases?
Occupational Lung Disease
In general terms, which of the following typically has the greatest opportunity to steal from a retail organization?
Retail Employees
Ultimately, what drives the retail business?
Retail Sales
The crime of taking or attempting to take property from the care, custody or control of another by force, through the threat of violence or force, or by other means of intimidation is known as:
Robbery
What factor is most often considered a benchmark for the success of a Loss Prevention program?
Shrink Performance
As part of a service agreement with some manufacturers, Hardline EAS tags are prepackaged with the merchandise at the source of production, eliminating the labor-intensive task requiring company associates from applying these tags at the store or Distribution Center. This cost-saving service is commonly referred to as:
Source Tagging
Generally speaking, this type of retailer involves those stores that specialize in a particular type of clothing/apparel or accessories. Typically these are the smaller stores found in malls and strip centers, and specialize in a particular type of apparel, shoes, accessories, jewelry or other specialty item:
Specialty Retailers
The main statute protecting the health and safety of employees in the workplace is:
The Occupational Safety and Health Act (OSHA)
The federal agency under the United States Department of Labor whose mission is to ensure the safety and health of America's workers by setting and enforcing compliance standards, providing training, outreach, and education is known as:
The Occupational Safety and Health Administration (OSHA)
The coordinated system of organizations, people, activities, information and resources involved in moving a specific product or service from the supplier to the customer is known as:
The Supply Chain
The Civil Rights Act of 1964, The Age Discrimination in Employment Act and the Americans with Disabilities Act are some of the laws enforced by:
The U.S. Equal Employment Opportunity Commission
Who holds the primary responsibility for the development of our Loss Prevention careers?
The individual Loss Prevention professional holds that responsibility
The Loss Prevention industry itself will offer various programs and events that provide training seminars, product/vendor demonstrations, networking opportunities, social gatherings and other events. How is this typically accomplished?
Through professional associations dedicated to the retail LP industry
What is the role of Loss Prevention?
To reduce shrink and enhance company profitability
What is the primary purpose of any credential or certification program?
To validate the knowledge base or level of experience generally accepted in the industry to hold such a position.
If you were attempting to put out a fire that involved ordinary combustibles such as wood and paper, what type of fire extinguisher would you want to use?
Type A Extinguishers
If you were attempting to put out a fire that involved flammable liquids such as grease or gasoline, what type of fire extinguisher would you want to use?
Type B Extinguishers
If you were attempting to put out a fire that involved electrically energized sources, what type of fire extinguisher would you want to use?
Type C Extinguishers
If you were attempting to put out a fire that involved flammable metals, what type of fire extinguisher would you want to use?
Type D Extinguishers
By simple definition, this is a part of both our personal and professional makeup that we can strive to improve upon:
a developmental area
The tendency to be able to do something well is commonly referred to as:
ability
When working in the Loss Prevention industry, what group of individuals are considered our internal customers?
all of the various employees of the company
How frequently is it recommended that store alarm systems be audited to ensure that they are in proper working order?
at least monthly
Every leader must show the fortitude to state their opinion and the confidence to influence change. They must be flexible, support the company, develop diplomacy skills, accept responsibility and display creativity. All of these elements should be part of every Loss Prevention professional's:
commitment to excellence
What is it called when a person has a divided loyalty or is motivated or influenced by personal considerations or relationships?
conflict of interest
A form of harassment committed by an employee against another employee in which that conduct is considered physically threatening or humiliating, and unreasonably interferes with an employee's performance is known as:
creating a hostile work environment
Any intentional false claim that purposely injures or damages someone's reputation, diminishes respect, lowers confidence and/or induces disparaging or unfavorable opinions against a person is known as:
defamation
Which of the following positions in the Loss Prevention hierarchy is typically responsible for putting together the strategic policies, plans and programs that drive our Loss Prevention efforts?
directors of loss prevention
This act requires that investors receive significant information concerning investments being offered for public sale; while prohibiting deceit, misrepresentations, and other fraud in the sale of securities:
federal securities act
This retail department is dedicated to ensuring that the labor needs of the organization are met, matching the individual with company needs and developing our existing associates:
human resources
This type of Closed Circuit Television system allows recordable data to be sent over the internet and through computer systems for remote monitoring and recording from anywhere that we might have access to a computer:
internet protocol cctv
From a personal and professional standpoint, continuing education should be viewed as:
investment in ourselves and our future
The clear perception of facts, truths or principles is commonly known as:
knowledge
The written, or published form of defamation often expressed through published print material, emails, writing, pictures or signs is known as:
libel
A trusted counselor who through their words, actions or example provides advice, support and encouragement to someone else is commonly known as:
mentor
Interacting with others in the Loss Prevention industry, other retailers, law enforcement agencies and other potential resources that can help expand your knowledge base and mold your skill sets is commonly known as:
networking
When receiving a Performance Review, the employee's approach should be:
open and objective
A non-guaranteed possibility due to a favorable set of circumstances is commonly known as:
opportunity
What should always be the most important factor to consider when determining the overall approach of the Loss Prevention department for any retail organization?
overall needs of the business
A formal, written form of communication that is intended to identify, measure, evaluate, improve and reward employee performance is known as:
performance review
This reporting tool is commonly used to capture transactional information from the cash register system and organizes the data for practical use and application, formatting reports and providing us with detailed information on a variety of register functions:
point of sale exception reports
What are generally considered the most important factors for a Loss Prevention professional to uphold in order to build employee confidence and gain company support?
positive attitude & professional approach
Promoting customer service skills and encouraging associates to smile, say hello, ask customers if they can help and getting themselves noticed are examples of what type of approach to Loss Prevention?
proactive approach
Working with store management to promote a store environment that is both visually pleasing to the customer and safe to shop in; and communicating cooperation and awareness as a means to protect high-value or high-theft items are examples of:
proactive approach
When handing out a performance review to a subordinate, our approach should be:
professional and objective
As a Loss Prevention professional, you will have perceptions and information concerning employees that you have the responsibility to keep to yourself or share only with your supervisor or a member of store management. This important aspect of professional conduct is known as:
protecting confidentiality
A Loss Prevention representative who observes the camera systems in the LP office and waits for a call that a theft or a loss has occurred and then responds to such calls is practicing:
reactive approach
This act was passed in response to a number of major corporate and accounting scandals that resulted in a decline of public trust in accounting and reporting practices.:
sarbanes-oxley act
In order to maintain a fair and just approach to Loss Prevention we must identify and be aware of our own viewpoints, perceptions and biases; and effectively remove them from our decision-making process. Our ability to become better aware of our emotions, our thoughts concerning those emotions, and our ability to comprehend how we feel at any given point in time is commonly referred to as:
self-awareness
Containing elements involving subjective perceptions as well as objective judgments, this complex legal principle is a form of discrimination and/or abuse based upon the basis of sex:
sexual harassment
The competent excellence in performance that is the result of one's knowledge, training, experience and aptitude to do something well is known as a:
skill
An untruthful spoken (oral) statement regarding an individual that harms the person's reputation or standing is known as:
slander
The overriding factor in the performance of your job, leading to positive growth and financial achievement is:
success of your company
These Loss Prevention tools, practices and behaviors operate under the specific premise that the retailer clearly intends to let the public know that they will be taking steps to protect their customers, their employees and their merchandise:
visible deterrents