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Business 103.01-103.10 Flashcards | StudBud
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Business 103.01-103.10
Business 103.01-103.10
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1
Location is the most important factor in
choosing a lawyer
opening a salon business
choosing a distrubuter
choosing a salon
2
During a job interview it is very important to
streatch the truth if necessary
tell the interviewer what they want to hear
stay calm and be yourself
tell a lot of stories
3
The emotional buyer bases his or her purchases on
price
personal reasons
being a new product
facts
4
For salon professionals just starting out, the most common and immediate source of referrals is
work of mouth recommendations
promo literature
target marketing
client profile
5
All of the following descritpions apply to an independant salon except
ownder makes all the decisions in terms of pricing and services
may offer from 5-40 workstations
owner makes all the decisions in terms of decor
uses a set business plan provided by a parent company
6
Compliance with all local, state, and federal rules, regulations and laws is the responsibility of the
local authorities
salon owner
salon employees
former building owner
7
What is the strategy that practices clients booking appointments prior to leaving the salon?
balancing
upselling
work of mouth
prebooking
8
I will get a job within the next 60 days is an example of a
measurable goal
timely goal
achievable goal
realistic goal
9
Renting or leasing a workstation from a building owner would represent which of the following situations
partnership
corporation
independent contractor
sole proprietorship
10
Which of the following descriptions is NOT a best practice strategy for building a clientele
upselling
prebooking
referral
client factor
11
To be granted future loans, it is important to pay loans on time and avoid
taxes
insurance
default
compensation
12
Industry statistics indicate that satisfied clients will usually refer how many new clients
1
12
8
3
13
Which method is probably the most effective way to build your clientele
word of mouth recommendations
prebooking
providing exceptional service
referrals
14
An operating agreement in which you function under a parent corp. in exhange for promos, ads, and management is called
franchise
sole proprietorship
corporation
partnership
15
The item that offers an employer a brief summary of what qualities you would bring to the salon is called
application
resume
cover letter
profile
16
A set income given to an employee on a weekly or monthly basis is known as
stock
commission
booth rent
salary
17
Which type of buyer puts up a struggle and has a strong desire to debate with you
stubborn
ready
bargain
logical
18
Which buyer type wants to save money at all costs and is not as interested in quality but price
bargain
logical
ready
stubborn
19
Pareto's principle is called the
50/50 rule
80/20 rule
90/10 rule
60/40 rule
20
The salon professionals name, clients name, scheduled services, date and clients number should all be included in the
federal income tax form
appointment book
I-9 form
state income tax form
21
Networking provides all the of following benefits except
gives access to people and resources within the industry
provides a good way to learn ab out trends in the industry
leads to lifelong friendships
contacts create difficult situations that turn into real problems
22
When handling a client complaint you can turn a negative experience into a positive one by
ignoring any signs that the client might be disappointed
restating back to the client what you heard
not asking any additional questions to clarify concerns
avoiding any feedback the client might have
23
Successful salons have staff members who effectively recommend their services and retail by doing the following except
make negative comments
offering sound advice
listening to clients
communicate professionally
24
In many cases, the first person to greet a client as they arrive is the
distributor
owner
receptionist
manager
25
Which of the following is NOT a necessary element for ensuring staff energy
with it ness
lack of procedures
clear, shared vision
open and clear communication
26
Which of these descriptions is NOT a guideline to be used when creating a resume?
show prior emplyment
provide at least eight pages of info
list awards
write the resume in a brief and concise manner
27
Measurable goals will help you get organized and
track your progress
force you to stretch
stick with the status quo
believe in what you can do
28
When handling a phone call, always
match the client's anger
speak louder than normal
maintain self control
promote salon discounts
29
Offering an additional hair coloring service to the client who was schedule for a cut is an example of
target marketing
upselling
full book
balancing
30
A sole proprietorship is a business owned by
a franchise
one person
a corporation
2 or more people
31
A rental agreement is known as a
W-2
loan
lease
waiver
32
Which buyer type is open-minded and willing to take a chance on new products without hesitation
bargain
ready
stubborn
logical
33
Which type of insurance protects the salon owner from financial loss due to an employees negligence
product liability
malpractice
premise
social security
34
Dependability as a work principle can be described as
not waiting to be told to do something
showing that you love what you do
showing up on time and ready to work
getting along with co workers
35
According to statistics, how often does the average loyal client visit a salon
every 2 weeks
every 3 months
every 6 weeks
twice per year
36
Net worth is calculated by subtracting liabilities from
charge accounts
assets
student loans
loan balance
37
Which of the statements below represents a specific goal?
I will get a job
I will most likely get a job somewhere close to home
I will very easily get a job
I will get an entry-level position in a reputable salon after graduation
38
Which one of the following items is usually the largest expense in operating a salon
salaries or commission
advertisment
supplies
rent
39
When staff members take individual initiative to stay on top of things and pay attention to detail this is an example of
cooperation
with-it-ness
problem solving
confict management
40
Which buyer wants to know all of the facts, thinks carefully, without regard of who likes or dislikes the product
stubborn
logical
ready
bargain
41
The salon exterior, decor, music and sounds, and air and ventilation are all elements of
personlized approach
synergy
ambiance
with it ness
42
The type of insurance that helps cover the costs of any salon equipment or location in case of fire or theft is what?
property insurance
liability insurance
health insurance
malpractice insurance
43
The ideal salon arrangment has an efficient traffic pattern providing
the least steps for the client and salon professional to travel
the most steps for the client and salon pro to travel
80 square feet per salon professional
a remote reception area
44
All payments received from clients for service and home care products purchased is known as
expenses
taxes
comensation
incone
45
It is wise to keep all records of daily sales and services for
10 years
5-7 years
2-4 years
6-14 years
46
The money in your checking and savings accounts, IRAs, stocks and bonds are all considered to be your total
debt
liabilities
fortune
assets
47
The act of highly satisfied client directing another person to see you is called
referral
client factor
prebook
upsell
48
Of the items listed below which one is NOT considered a benefit
paid vacation
salary
paid holidays
sick days
49
Which of the following statements describes what you should do if you are asked a question that seems discriminatory
answer the question truthfully
politely decline to answer
give a false answer
remain defiantly silent
50
Workers Compensation Insurance is needed to protect the
employee
advertiser
salon
inventory
51
Which of the following business types is owned by the shareholders and formed under legal guidelines
partnership
sole proprietorship
corporation
franchise
52
A form of operation where an intitial purchase fee plus a monthly service charge is paid to the parent corporations is?
partnership
franchise
entity
corporation
53
Beverages, food, magazines, and umbrella stands in the salon are examples of
comforts
touchables
decor
aromatherapy
54
Which of the following items is reported to the IRS as employee income
operating expenses paid by the salon
change given to a client following payment
tips received by an employee
money paid to vendors for products
55
Which of the following terms defines a specific target or benchmark of achievment taht can be attained with a timeframe
budget
milestone
schedule
goal
56
If you are going to be absent or have vacation time, you would take all of the following steps except
notify your client
prebook your client
avoid telling the clients
reschedule your clients with another stylist
57
What percentage of the total expenses generally represents compensation for the salon owner and employee
0.5
0.1
0.25
0.75
58
All of the following actions describe how to create a plan to achieve your goals except....
consider your budget
include alternate plans
be specific
avoid alternate plans
59
Procedures in the salon that ensure all products are accounted for is known as
scheduling
inventory control
advertising
budgeting
60
What is the best form of advertising
billboards
word of mouth
pamphlets
television
61
A collection of your creative work documents to show potential clients or employers is called a
cover letter
portfolio
linkedin
networking
62
The renting of a space, suite or booth by an individual salon professional on a montley basis is referred to as
full service salon
independent contractor
independent salon
chain salon
63
Which of the following characteristics will contribute to career success
respecting knowledge of others
avoiding change and acceptance
living in the past
avoding criticism
64
A realistic goal is one that
contains concrete benchmarks
states exactly what you want to accomplish
sets a deadline for achieving a goal
you believe can be accomplished
65
Before an interview begins, you might be asked to fill out
resume
portfolio
cover letter
application