Question 1

______________ pertains to the acquisition of needed material and financial means from the environment.

Accepted Answer

A)  Market 
B)  Resources 
C)  Innovation and change 
D)  Employee development

Question 2

A structural change that negates rehiring laid-off workers is called:

Accepted Answer

A)  Rightsizing 
B)  Downsizing 
C)  Downscaling 
D)  Rationalizing

Question 3

Total quality is based on which of the following fundamental principle?

Accepted Answer

A)  Focus on customers and stakeholders 
B)  Participation and teamwork by everyone in the organization 
C)  Process focus supported by continuous improvement and learning 
D)  All of the above

Question 4

The fact that the people with authority and responsibility are subject to reporting and justifying task outcomes to those above them in the chain of command is known as:

Accepted Answer

A)  Liability 
B)  Accountability 
C)  Legal responsibility 
D)  None of the above

Question 5

The process by which individuals or groups select, use, or dispose of gods, service, ideas, or experiences to satisfy needs and demands is called:

Accepted Answer

A)  consumer behavior 
B)  buyer behavior 
C)  user behavior 
D)  purchaser behavior

Question 6

A high-ranking officer, who commands sufficient political clout to promote the idea that a new system is needed and when the go-ahead is granted to remove obstacles as the project progresses, is known as:

Accepted Answer

A)  Champion 
B)  Professional 
C)  Certified 
D)  Advocate

Question 7

An organization's mission describes what the organization stands for and its reason for existence is called:

Accepted Answer

A)  Source of motivation 
B)  Legitimacy 
C)  Rationale for decisions 
D)  Standard of performance

Question 8

A field that focus on the total organization rather than the individual worker, delineating the management functions of planning, organizing, commanding, coordinating, and controlling is known as:

Accepted Answer

A)  Unity of command 
B)  Administrative principle 
C)  Managerial fist 
D)  Decision-making process

Question 9

The process, managers use to transfer authority and responsibility to positions below them in the hierarchy is called:

Accepted Answer

A)  Allocation 
B)  Assignment 
C)  Delegation 
D)  Deputation

Question 10

The most common inventory control system used for handling dependent demand inventory is called:

Accepted Answer

A)  Dependent demand Inventory planning 
B)  Enterprise Inventory planning 
C)  Material requirements planning 
D)  Inventory factoring planning

Question 11

Banks sometimes require borrowers to maintain an average demand deposit balance equal to from 10 percent to 20 percent of the amount borrowed, this is called:

Accepted Answer

A)  line of credit 
B)  compensating balance 
C)  commitment fee 
D)  revolving credit agreement

Question 12

A measure of the quantity and quality of work done, considering the cost of the resources used is known as:

Accepted Answer

A)  Productivity 
B)  Innovation 
C)  Efficiency 
D)  Effectiveness

Question 13

What is based on the presumption that it is determined by what a customer wants?

Accepted Answer

A)  Property 
B)  Trait 
C)  Superiority 
D)  Quality

Question 14

In Maslow's hierarchy of needs which of the following factor is NOT included?

Accepted Answer

A)  physiological needs 
B)  self-actualization needs 
C)  safety and security needs 
D)  equipment and technology needs

Question 15

What is based on rules that do not have discrete boundaries but lie along a continuum, enabling a system to better deal with ambiguity?

Accepted Answer

A)  Fuzzy logic 
B)  Genetic logic 
C)  Vague logic 
D)  Indistinct logic

Question 16

Means used to anticipate and manage the supply of and demand for human resources is known as:

Accepted Answer

A)  HR development 
B)  HR management 
C)  HR strategies 
D)  HR business decisions

Question 17

Characteristic that a person must have to do a job successfully is known as:

Accepted Answer

A)  Intelligence criterion 
B)  Selection criterion 
C)  Job performance tactics 
D)  Skills of service

Question 18

Database marketing offers companies for which of the following four abilities?

Accepted Answer

A)  Addressability, Measurability, Flexibility, and Reproduction 
B)  Attainability, Measurability, Litheness, and Accountability 
C)  Addressability, Expressiveness, Flexibility, and Accumulation 
D)  Addressability, Measurability, Flexibility, and Accountability

Question 19

When inventory moves so fast that firms essentially hold zero inventory on hand, they are following a system known as:

Accepted Answer

A)  slant supply chain 
B)  lean supply chain 
C)  slender supply chain 
D)  spare supply chain

Question 20

A system that helps manage an organization's data and information in multiple business functions is known as:

Accepted Answer

A)  Compound Resource Planning 
B)  Manifold Management 
C)  Enterprise Resource Planning 
D)  Amalgam Resource Planning

Exam 1: Certified Business Manager