Details of this Paper

BAM 105 challenge examination




Question;BAM 105 challenge examination;1. The price at which the quantity of goods demanded and the;quantity of goods supplied are equal is referred to as ________ price.;a. the equilibrium b. consumer equality c. the deal-maker d. the fixed;point;2. A(n) ________ occurs when the quantity supplied exceeds the quantity;demanded.;a. overage b. shortage c. demand deficit d. surplus;3. ?Buyers will purchase more of a product as its price drops and less of a;product as its price increases.? The situation being described is referred to;as ________.;a. the law of supply b. purchase dissonance c. the law of demand d. buyer?s;remorse;4. Which of the following is NOT one of the elements required in private;enterprise?;a. freedom of choice b. private property rights c. stability of cash flow d.;profits;5. U.S. agriculture is a good example of ________.;a. perfect competition b. monopolistic competition c. a monopoly d. an;oligopoly;Challenge Examination;7;BAM 105 Introduction to Business;6. Which of the following best defines the term aggregate output?;a. the total quantity and quality of goods and services that country?s citizens;can purchase with the currency used in their economic system b. the pattern of;short-term ups and downs in an economy c. the total quantity of goods and;services produced by an economic system during a given period d. the conditions;of the economic system in which an organization operates;7. ________ refers to ethical or unethical behaviors by employees in the;context of their jobs.;a. Social ethics b. Collusion c. Business ethics d. Social responsibility;8. An employee who discovers and tries to put an end to a company?s unethical;illegal or socially irresponsible actions by publicizing them is called;a. an investor b. an outside contractor c. a whistle-blower d. top management;9. The ethical norm of ________ considers if the decision is fair.;a. utility b. justice c. rights d. caring;10. Which of the following groups is NOT considered an organizational;stakeholder?;a. investors b. competitors c. employees d. customers;11. According to analysts, who must take chief responsibility for educating;employees about ethics?;a. parents b. religious organizations c. employers d. business schools;Challenge Examination;8;BAM 105 Introduction to Business;12. The current whistle-blower law stems from which of the following pieces of;legislation?;a. The False Claims Act of 1863 b. The Clayton Act of 1914 c. The Sherman Act;of 1890 d. The Webb-Pomerene Act of 1918;13. A locally owned and operated restaurant is typically a(n) ________.;a. small business b. monopoly c. corporation d. oligopoly;14. ________ is the process of seeking business opportunities under conditions;of risk.;a. Wholesaling b. Entrepreneurship c. Goal setting d. Leverage;15. A major drawback of sole proprietorships is ________.;a. limited liability b. low startup costs c. unlimited liability d.;flexibility;16. Both sole proprietorship and partnerships lack ________.;a. profits b. trust c. clarification d. continuity;17. A(n) ________ is organized to operate like a corporation but is taxed like;a partnership.;a. S-corporation b. professional corporation c. public corporation d. private;corporation;Challenge Examination;9;BAM 105 Introduction to Business;18. Kent Kauffman and Patrick McCormick have decided to start a landscaping;business. One of the first things that they do is sign the ________, which;describes the investments and responsibilities of the partners and makes;provisions for the allocations of profits and dissolution of the;business.;a. articles of incorporation b. corporate charter c. partnership charter d.;partnership agreement;19. A company sending some of its own managers overseas to conduct business in;a local office is practicing the international organization strategy of;a. branch offices b. joint venture arrangements c. strategic alliances d.;direct investment;20. A subsidy is a ________.;a. tax b. global competitor c. product d. payment;21. Under ________, Canada, the United States and Mexico will gradually;eliminate tariffs and all other trade barriers.;a. NAFTA b. the Pan-American Agreement c. the EURO Agreement d. CMA;22. Which of the following exists when a country can produce something more;cheaply and/or of higher quality than any other country can?;a. national competitive advantage b. balance of payments c. absolute advantage;d. comparative advantage;23. Which global arrangement most closely represents a partnership?;a. exporting b. enterprise resource planning (ERP) c. licensing arrangement d.;strategic alliance;Challenge Examination;10;BAM 105 Introduction to Business;24. The Oil Producing and Exporting Countries (OPEC) is an example of a;a. subsidy b. foreign direct investment c. cartel d. quota;25. Which of the following refers to a person?s ability to think in the;abstract, to diagnose and analyze different situations and to see beyond the;present situation?;a. production skills b. human relations skills c. decision-making skills d.;conceptual skills;26. The purpose of ________ strategy is to determine what business or;businesses a company will own and operate.;a. functional b. corporate c. business d. mission;27. Corporate culture ________.;a. is difficult to change b. can direct employees? efforts toward goals c. is;usually determined by outside forces d. very seldom changes;28. Titles such as plant manager, operations manager and division manager;designate which of the following levels of management?;a. first-line managers b. supervisors c. top managers d. middle managers;29. Which of the following managers depend most on conceptual skills?;a. top managers b. first-line managers c. marketing managers d. middle;managers;Challenge Examination;11;BAM 105 Introduction to Business;30. CFO and controller are titles associated with ________ managers.;a. information b. human resource c. marketing d. financial;31. When each department targets a specific customer category;departmentalization occurs along ________ lines.;a. functional b. customer c. process d. product;32. Decentralization is typical in companies that ________.;a. are smaller in size b. focus tightly on maintaining standardization c. face;stable, predictable environments d. face complex and dynamic environments;33. All of the following are advantages of job specialization EXCEPT;specialized jobs _________.;a. can be learned more quickly b. are more interesting c. can be performed more;efficiently d. can be filled more quickly;34. Which of the following is NOT one of the four basic forms of organizational;structure mentioned in the text?;a. matrix b. divisional c. functional d. production;35. American Wood Products has three divisions. The Lumberjack division is;involved in harvesting trees and transporting them to lumber mills. The Milling;division transforms cut timber into dimensional lumber for building. The Paper;Products division makes paper and cardboard from the remnants of the milling;process. This is an example of ________.;a. functional departmentalization b. process departmentalization c. customer;departmentalization d. geographic departmentalization;Challenge Examination;12;BAM 105 Introduction to Business;36. According to the text, Martha Stewart Living Omnimedia uses a(n);structure to manage its lifestyle business.;a. operational b. departmental c. divisional d. matrix;37. ________ refers to the sameness of product quality from unit to unit.;a. Performance b. Quality control c. Reliability d. Consistency;38. ________ includes all activities involved in getting quality products into;the marketplace.;a. Total quality management b. Quality reliability c. Performance quality d.;Quality control;39. _____________ is the evaluation of all work activities, materials flows and;paperwork to determine the value that they add for customers.;a. Quality management b. Value-added analysis c. Groupware d.;Benchmarking;40. ________ operations produce standardized products for mass consumption.;a. Make-to-order b. Make-to-stock c. Low-contact d. High-contact;41. A ________ is an activity that is performed regularly when conducting;business.;a. technique b. process c. request d. function;Challenge Examination;13;BAM 105 Introduction to Business;42. When Ford assembles parts into a Ford Explorer, it creates ________ utility.;a. time b. place c. form d. possession;43. A good person-job fit is a situation in which ________.;a. the employee?s contributions slightly exceed the company?s inducements b.;the employee?s contributions and the company?s inducements balance c. the;company?s inducements slightly exceed the employee?s contributions d. the;person hired for the job is qualified for it;44. When two people work part-time to share a single full-time job, it is;referred to as ________.;a. MBO b. flextime c. job redesign d. work sharing;45. ________ reflects a person?s comfort level with relationships.;a. openness b. extraversion c. conscientiousness d. agreeableness;46. According to Herzberg, recognition for a job well done is a ________.;a. scientific factor b. motivation factor c. hygiene factor d.;dissatisfier;47. When a company pays rewards for desired behaviors in employees, it is using;a. piecemeal b. equity theory c. positive reinforcement d. punishment;Challenge Examination;14;BAM 105 Introduction to Business;48. In equity theory, the social comparison made by an employee relative to the;treatment by the organization to others is similar to ________.;a. the psychological contract b. job sharing c. the Hawthorne effect d.;expectancy theory;49. According to Kotter, when creating an agenda, managers focus on ________.;a. organizing and staffing b. controlling and problem solving c. planning and;budgeting d. establishing direction;50. Transactional leadership is essentially the same as ________.;a. controlling b. planning c. management d. organizing;51. To be an effective strategic leader, a manager needs to have an;understanding of the organization?s ________.;a. strengths and weaknesses b. culture c. history d. All of the above.;52. Managers at Adidas had a ?hunch? that their sponsorship deal with the;Yankees would be a good one. Their feelings were based on ________.;a. escalation of commitment b. risk propensity c. intuition d. perception;53. The ________ approach to leadership assumes that appropriate leader;behavior varies from one situation to another.;a. motivation b. trait c. charismatic d. situational;Challenge Examination;15;BAM 105 Introduction to Business;54. Males tend to be more ________ than females in making decisions.;a. democratic b. charismatic c. autocratic d. free-rein;55. Which of the following types of compensation are paid for time;worked?;a. wages b. salary c. benefits d. gain sharing;56. Insurance for compensating workers injured on the job is called;a. a cafeteria plan b. a profit-sharing plan c. disability insurance d.;workers? compensation insurance;57. ________ represent attempts to recruit, hire and develop members of;relevant protected classes.;a. Comparable worth programs b. ?Glass ceiling? programs c. Benefit plans d.;Affirmative action plans;58. A ________ allows wage rates to be renegotiated during the life of a labor;contract.;a. wage reopener clause b. bargaining unit c. cost-of-living adjustment d.;strike;59. Cindy has identified the credentials, skills and abilities necessary for a;database administrator in her organization. She will record this information in;a(n) ________.;a. advertising budget b. staffing survey c. employee analysis d. job;specification;Challenge Examination;16;BAM 105 Introduction to Business;60. Bill is able to quit his job at the pickle factory at anytime and without;notice under the legal concept of ________.;a. mutual consent b. quid pro quo c. employment-at-will d. joint;agreement;61. Groups of people with similar wants and needs are ________.;a. price points b. distribution points c. target markets d. target points;62. ________ are the qualities, tangible and intangible, that a company builds;into its products.;a. Features b. Safety devices c. Requirements d. Benefits;63. A promotional tactic for brand exposure in which characters in television;film, music, magazines or video games use a real product with a brand visible;to viewers is called _________.;a. branding b. loyalty c. brand awareness d. product placement;64. Selling the rights to place a brand name on products such as t-shirts is;referred to as ________ brands.;a. international b. national c. licensed d. private;65. The satellite dish and home television shopping provide examples of changes;to which of the following external environmental factors that affect marketing?;a. political b. legal c. economic d. technological;Challenge Examination;17;BAM 105 Introduction to Business;66. Providing volunteer participants with new products to try and then asking;them to share the information with their friends, family, co-workers and others;in their social network is called ________ marketing.;a. buzz b. viral c. share d. placement;67. Once called ?middlemen,? they are now known in marketing circles as ________.;a. the marketing network b. distributors c. intermediaries d. circulation;managers;68. Companies that price their product low enough to attract a large number of;buyers are likely pursuing a goal of ________.;a. market stability b. maximization of profits c. high market share d. price;stability;69. The amount added to a product?s cost to meet profit targets is usually;expressed as a percentage of ________.;a. total costs b. sales price c. wholesale price d. selling costs;70. The value of agents and brokers lies in their knowledge of markets and;their merchandising expertise. Which of the following do they also do?;a. remove open, torn or dirty packages, arrange products neatly and generally;keep goods attractively displayed for retail stores. b. provide shelf and;display merchandising and advertising layout for retail stores c. show sale;items to potential buyers d. All of the above.;71. Which of the following is the first stage in the buyer decision;process?;a. Buyers decide on specific products. b. Buyers recognize the need to make a;purchase. c. Buyers want to learn more about available products. d. Buyers;evaluate products after purchase.;Challenge Examination;18;BAM 105 Introduction to Business;72. Pricing above the market plays on the common assumption that;a. although consumer will not admit it, they like to pay higher prices b.;higher price means higher quality c. a desperate business in danger of failing;must get the most for each item it sells d. higher prices are much more popular;now;73. ________ allow outsiders limited access to a firm?s internal information;systems.;a. Firewalls b. Extranets c. Directories d. Intranets;74. A(n) ________ is a system for transmitting and transforming data into;information that can be used in decision-making.;a. transformation system b. information system c. computer d. management;system;75. The application of electronic technologies for searching, sifting and;reorganizing pools of data to uncover useful information is referred to as data;a. warehousing b. mining c. access d. tapping;76. Computers are connected by numerous applications utilizing different;communications protocols. Which of these is NOT an Internet protocol?;a. hypertext transfer protocol (HTTP) b. simple message transfer protocol;(SMTP) c. document processing protocol (DPP) d. post office protocol (POP);77. ________ is capable of gathering e-mail addresses, credit card numbers and;passwords.;a. Spyware b. Spam c. A firewall d. Groupware;Challenge Examination;19;BAM 105 Introduction to Business;78. Which statement is true regarding firewalls?;a. They keep companies safe from hackers. b. They serve as a ?traffic switch,?;telling a message where to go. c. They are located within individual monitors.;d. They do none of the above.;79. ________ offer accounting services to the public and are licensed at the;state level.;a. Controllers b. Certified Public Accountants c. Certified Management;Accountants d. Bookkeepers;80. ________ are costs, other than the cost of goods sold, incurred in;producing a good or service.;a. Depreciation b. Operating expenses c. Inventory expenses d. Operating;incomes;81. A ________ ratio measures a firm?s potential earnings.;a. financial b. solvency c. profitability d. managerial;82. Cash transactions involved in buying and selling goods and services would;be classified as cash flows from ________ on the statement of cash flows.;a. investing b. operations c. planning d. budgeting;83. Which of the following is the most commonly used liquidity ratio?;a. return on equity b. quick ratio c. return on sales d. current ratio;Challenge Examination;20;BAM 105 Introduction to Business;84. ________ is the ability of a firm to finance an investment through borrowed;funds.;a. Leverage b. Profitability c. Liquidity d. Solvency;85. At ________, deposits are only accepted from members who meet specific;qualifications, usually working for a specific employer.;a. mutual savings banks b. commercial banks c. savings and loan associations d.;credit unions;86. The ________ is a United Nations agency consisting of about 150 nations;that have combined resources to promote stable exchange rates, provide;temporary short-term loans and serve other purposes.;a. International Monetary Fund b. European Union c. Federal Reserve d. World;Bank;87. Which of the following is NOT a function of money?;a. status symbol b. store of value c. medium of exchange d. measure of worth;88. Which of the following is NOT part of the M-2 money supply?;a. M-1 b. government bonds c. time deposits d. money market mutual funds;89. How many Federal Reserve Banks are there currently in the United;States?;a. 15 b. 6 c. 10 d. 12;Challenge Examination;21;BAM 105 Introduction to Business;90. T-notes are treasury securities that mature to face value within;a. 30 years b. a few weeks to a year c. 2 and 10 years d. None of the above.;91. Blink credit card technology is familiar in what form?;a. buying discount bonds that do not pay interest periodically but are sold at;a discount and pay out the face value on maturity b. using a computer to make;automatic payments c. familiar to any form that uses a magnetic strip or swipe;method d. toll roads with electronic passes that allow drivers to avoid waiting;in line to pay;92. ________ is often used for economic planning by businesses and government;agencies.;a. M-2 b. M-1 c. Currency d. A demand deposit;93. A stock?s ________ can be calculated by dividing total shareholders? equity;by the total number of shares of stock issued.;a. book value b. market value c. par value d. All of the above.;94. New stocks and bonds are sold in the ________ market.;a. primary b. tertiary c. private placement d. secondary;95. A(n) ________ is an organization of individuals coordinated to provide an;institutional setting in which stock can be bought and sold.;a. stock exchange b. brokerage c. over-the-counter market d. server;Challenge Examination;22;BAM 105 Introduction to Business;96. ________ investors will opt for no-risk U.S. Treasury Bills or;intermediate-term, high-grade corporate bonds that rate low in terms of risk on;future investments.;a. Professional b. Aggressive c. Amateur d. Conservative;97. A ________ is a formal pledge (an IOU) obligating the issuer to pay;interest periodically and repay the principal at maturity (a preset future;date) to the lender.;a. mutual fund b. bond indenture c. commercial bank loan d. corporate bond;98. A company is ripe for raiding when ________.;a. insider trading has taken place b. private owners lose some control of the;company when shares are sold to the public c. its stock prices are at an all;time high d. its stock price falls so shares can be cheaply bought;99. A ________ is a division of stock that gives stockholders a greater number;of shares but does not change each individual?s proportionate share of;ownership.;a. stock split b. stock warrant c. stock dividend d. stock yield;100. ?I am a chemist with the nation?s largest chemical company. We have;secretly developed a cure for three of the world?s most serious epidemics.;Before this news breaks out, I?m going to buy as many shares of stock in my;company as I can get my hands on. Then I?ll sit back and watch the stock price;head for the sky.? The person making this statement is about to engage in ________.;a. insider trading b. blue-sky trading c. selling shares of stock d.;open-market operations


Paper#53918 | Written in 18-Jul-2015

Price : $56