Question 1

Crowdsourcing would be the fastest way of raising financial capital for your business.

Accepted Answer

A) True 
 B)False

Question 2

The most successful crowdfunding efforts are a result of testing,refining,and planning.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following needs can be addressed primarily through crowdsourcing?

Accepted Answer

A) A company wants to procure a library of freely downloadable photographs for its photo app. 
B) A company wants to increase profits by raising subscription fees to its video streaming app. 
C) A company wants to reduce waste in its manufacturing process by working with a single vendor. 
D) A company wants to raise funding to support expansion of its product lines. 
A) A company wants to procure a library of freely downloadable photographs for its photo app. 
B) A company wants to increase profits by raising subscription fees to its video streaming app. 
C) A company wants to reduce waste in its manufacturing process by working with a single vendor. 
D) A company wants to raise funding to support expansion of its product lines.

Question 4

According to the text,in the crowdfunding model,the ______ is everything.

Accepted Answer

A) formal proposal 
B) video pitch 
C) written description 
D) sales pitch 
A) formal proposal 
B) video pitch 
C) written description 
D) sales pitch

Question 5

When borrowing from friends and family,it is better to treat the arrangement as a formal loan.

Accepted Answer

A) True 
 B)False

Question 6

In the investor model,crowdfunding backers will expect an equity stake in your business.

Accepted Answer

A) True 
 B)False

Question 7

What is the name given to the process of building a business with very little,or no,funding?

Accepted Answer

A) seed startup 
B) bootstrapping 
C) zero funding 
D) skeleton funding 
A) seed startup 
B) bootstrapping 
C) zero funding 
D) skeleton funding

Question 8

In the patronage model,investors will contribute to your project with no expectation of direct return.

Accepted Answer

A) True 
 B)False

Question 9

What is characteristic of the patronage model of crowdfunders?

Accepted Answer

A) Investors provide financial support with no expectation of direct return. 
B) Investors are given prizes for their financial support,such as product samples or experiences. 
C) Equity is exchanged for the contribution. 
D) Funds are treated as loans. 
A) Investors provide financial support with no expectation of direct return. 
B) Investors are given prizes for their financial support,such as product samples or experiences. 
C) Equity is exchanged for the contribution. 
D) Funds are treated as loans.

Question 10

You are ready to start your crowdfunding campaign.Describe what you should do to ensure a successful campaign.

Accepted Answer

Focus should be placed on refining the p

Question 11

Select a product that you might want to fund on Kickstarter.Explain the steps you would take to make sure that your campaign fulfills the requirements of the Kickstarter site.

Accepted Answer

The product should be in line with the t

Question 12

When conducting a crowdfunding campaign,why is it important to talk to others who have used crowdfunding?

Accepted Answer

A) You will get a better idea of what to do and what to avoid in your campaign. 
B) You can engage them in your own campaign. 
C) You can gain valuable information about their product or service. 
D) They may want to buy your business. 
A) You will get a better idea of what to do and what to avoid in your campaign. 
B) You can engage them in your own campaign. 
C) You can gain valuable information about their product or service. 
D) They may want to buy your business.

Question 13

Which of the following is an advantage of bootstrapping?

Accepted Answer

A) You can expand your business faster. 
B) You will avoid risk. 
C) Outside investors are more likely to fund you if you have bootstrapped. 
D) You have tapped into a lucrative source of advice and connections. 
A) You can expand your business faster. 
B) You will avoid risk. 
C) Outside investors are more likely to fund you if you have bootstrapped. 
D) You have tapped into a lucrative source of advice and connections.

Question 14

Indiegogo is the largest global crowdfunding site in the world.

Accepted Answer

A) True 
 B)False

Question 15

What must be offered by someone who uses Kickstarter for a fundraising project?

Accepted Answer

A) They must create something to share with others. 
B) They must offer to return the exact amount of the contributed funds within a given period of time. 
C) They must offer to give a portion of their funds to a charity. 
D) They must offer a moneyback guarantee if a backer decides to rescind his or her contribution. 
A) They must create something to share with others. 
B) They must offer to return the exact amount of the contributed funds within a given period of time. 
C) They must offer to give a portion of their funds to a charity. 
D) They must offer a moneyback guarantee if a backer decides to rescind his or her contribution.

Question 16

Imagine that you have developed a software application and are now ready to "open shop." Describe some of the penny-pinching techniques you would use to get your business started.

Accepted Answer

Avoid taking a salary,reimburs

Question 17

What are "the 3 Fs" for financial assistance?

Accepted Answer

A) the three major sources of formal funding 
B) a slang term meaning angel investors 
C) family,friends,and fools 
D) free financial funding 
A) the three major sources of formal funding 
B) a slang term meaning angel investors 
C) family,friends,and fools 
D) free financial funding

Question 18

John is raising money on a crowdfunding site,and in return for contributions,offers to let the contributor purchase prelaunch product.John is using a patronage model of crowdfunding.

Accepted Answer

A) True 
 B)False

Question 19

Crowdfunding and crowdsourcing would both be considered which of the following strategies?

Accepted Answer

A) formal fundraising 
B) bootstrapping 
C) angel investing 
D) penny pinching 
A) formal fundraising 
B) bootstrapping 
C) angel investing 
D) penny pinching

Question 20

As described in the text,one of the problems with the Coolest Cooler and its Kickstarter campaign was that ______.

Accepted Answer

A) the USB charger caused electric shocks to several customers 
B) shipping was too expensive for more customers 
C) supporters lost faith over delayed production 
D) they crowdfunded on multiple sites,betraying community guidelines 
A) the USB charger caused electric shocks to several customers 
B) shipping was too expensive for more customers 
C) supporters lost faith over delayed production 
D) they crowdfunded on multiple sites,betraying community guidelines

Crowdsourcing would be the fastest way of raising financial capital for your business.

The most successful crowdfunding efforts are a result of testing,refining,and planning.

Which of the following needs can be addressed primarily through crowdsourcing?

According to the text,in the crowdfunding model,the ______ is everything.

When borrowing from friends and family,it is better to treat the arrangement as a formal loan.

In the investor model,crowdfunding backers will expect an equity stake in your business.

What is the name given to the process of building a business with very little,or no,funding?

In the patronage model,investors will contribute to your project with no expectation of direct return.

What is characteristic of the patronage model of crowdfunders?

You are ready to start your crowdfunding campaign.Describe what you should do to ensure a successful campaign.

Select a product that you might want to fund on Kickstarter.Explain the steps you would take to make sure that your campaign fulfills the requirements of the Kickstarter site.

When conducting a crowdfunding campaign,why is it important to talk to others who have used crowdfunding?

Which of the following is an advantage of bootstrapping?

Indiegogo is the largest global crowdfunding site in the world.

What must be offered by someone who uses Kickstarter for a fundraising project?

Imagine that you have developed a software application and are now ready to "open shop." Describe some of the penny-pinching techniques you would use to get your business started.

What are "the 3 Fs" for financial assistance?

John is raising money on a crowdfunding site,and in return for contributions,offers to let the contributor purchase prelaunch product.John is using a patronage model of crowdfunding.

Crowdfunding and crowdsourcing would both be considered which of the following strategies?

As described in the text,one of the problems with the Coolest Cooler and its Kickstarter campaign was that ______.

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Testing and Experimenting With New Ideas

Developing Networks and Building Teams

Creating Revenue Models

Planning for Entrepreneurs

Anticipating Failure

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Financial Statements and Projections for Startups

The Pitch Deck

Filters

Exam 12: Bootstrapping and Crowdfunding for Resources

Crowdsourcing would be the fastest way of raising financial capital for your business.

The most successful crowdfunding efforts are a result of testing,refining,and planning.

Which of the following needs can be addressed primarily through crowdsourcing?

According to the text,in the crowdfunding model,the ______ is everything.

When borrowing from friends and family,it is better to treat the arrangement as a formal loan.

In the investor model,crowdfunding backers will expect an equity stake in your business.

What is the name given to the process of building a business with very little,or no,funding?

In the patronage model,investors will contribute to your project with no expectation of direct return.

What is characteristic of the patronage model of crowdfunders?

You are ready to start your crowdfunding campaign.Describe what you should do to ensure a successful campaign.

Select a product that you might want to fund on Kickstarter.Explain the steps you would take to make sure that your campaign fulfills the requirements of the Kickstarter site.

When conducting a crowdfunding campaign,why is it important to talk to others who have used crowdfunding?

Which of the following is an advantage of bootstrapping?

Indiegogo is the largest global crowdfunding site in the world.

What must be offered by someone who uses Kickstarter for a fundraising project?

Imagine that you have developed a software application and are now ready to "open shop." Describe some of the penny-pinching techniques you would use to get your business started.

What are "the 3 Fs" for financial assistance?

John is raising money on a crowdfunding site,and in return for contributions,offers to let the contributor purchase prelaunch product.John is using a patronage model of crowdfunding.

Crowdfunding and crowdsourcing would both be considered which of the following strategies?

As described in the text,one of the problems with the Coolest Cooler and its Kickstarter campaign was that ______.

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Testing and Experimenting With New Ideas

Developing Networks and Building Teams

Creating Revenue Models

Planning for Entrepreneurs

Anticipating Failure

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Financial Statements and Projections for Startups

The Pitch Deck

Filters