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EST Business
EST Business
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1
A sole proprietorship is a business owned by:
One person
A corporation
A franchise
Two or more people
2
Net worth is calculated by subtracting liabilities from:
Charge accounts
Assets
Loan balances
Student loans
3
Networking provides all of the following benefits EXCEPT:
Provides opportunities for career advancement
Contacts create difficult situations that turn into real problems
Gives access to people and resources within the industry
Provides a good way to learn about trends in the industry
4
All of the costs incurred in running the salon/spa each day is referred to as:
Loss
Operating loss
Operating expense
Profit
5
All of the following will help an esthetician manage working time effectively EXCEPT:
Don’t worry about being on time
Keep working area organized
Preform treatments in an efficient, tidy manner
Prioritizing tasks
6
Benchmarks for a goal are usually expressed with:
Numbers
Letters
Vague dreams
Time periods
7
Which of the following terms refers to all money owed:
Financial status
Liabilities
Assets
Net worth
8
Usually the largest expense in operating a salon/spa:
Salaries or commissions
Rent
Supplies
Advertisement
9
Selling additional services to clients beyond what they originally booked for a visit is called:
Upselling
Client retention
Prebooking
Promoting referrals
10
Which document introduces you to the salon/spa & offers a brief summary of why you would like to be employed there?
Résumé
Application
Cover letter
Profile
11
Type of insurance: protects salon/spa owner from financial loss due to an employee’s negligence:
Product liability
Premise
Unemployment
Malpractice
12
Compliance with all local, state/province and federal rules, regulations and laws is the responsibility of the:
Local authorities
Salon/spa owner
Former building owners
Salon/spa employees
13
All the property you own is called a list of:
Liabilities
Debt
Assets
Finances
14
Paid holidays, bonuses, and insurance are all examples of:
Assets
Liabilities
Job responsibilities
Job benefits
15
Type of client: requires accurate information regarding ingredients & product application.
Conventional
Authentic
Tentative
Analytical
16
Showing up on time and ready to work is the work principal:
Initiative
Dependability
Efficiency
Teamwork
17
The following descriptions are all benefits of a product EXCEPT:
Renewing effect
Concentrated formula
Perfect size for traveling
Economical purchase
18
Treating your client like an important, valued individual is known as:
Shared accountability
Staff synergy
Cooperation
Personalized approach
19
Business type: Owned by shareholders & forms under legal guidelines:
Corporation
Partnership
Franchise
Sole proprietorship
20
Which of the following strategies works to involve the client when recommending products?
Let client hold, smell, or sample product
State the price
Know what the promotions are
Give reasons why to buy product
21
Who can decide if a goal is realistic?
Your friends
Your tutor
Your family
You
22
What % of client retention would be achieved if an esthetician had 8 out of 10 clients return for services?
0.9
0.2
0.8
0.4
23
The tax based on the profits (earnings) of a business is known as:
Payroll tax
Income tax
Operating tax
Sales tax
24
Before a salon/spa owner can hire employees, they need to apply for a:
Social security card
Federal employer identification number
Driver’s license
Social insurance number
25
A set income given to an employee on a weekly or monthly basis is known as:
Stock
Commission
Booth rent
Salary
26
Type of buyer: open minded and willing to take a chance on new products with out hesitation:
Logical
Bargain
Stubborn
Ready
27
The emotional buyer type bases their purchases on:
Brand new products
Personal reasons
Facts
Price
28
Procedures in the salon/spa that ensure all products are accounted for is known as:
Budgeting
Advertising
Scheduling
Inventory control
29
Skill: When staff members take individual initiative to stay on top of things & pay attention to detail.
Problem-solving
Cooperation
Conflict management
Being proactive
30
The average amount spent on services & retail by a client during one visit is known as:
Average net profit
Average visit
Average ticket
Average appointment
31
Of the following; something you should NOT do for a job interview:
Bring friends to interview
Exhibit a positive attitude
Send thank you not within 24 hours
Maintain eye contact
32
Worker compensation insurance is needed to protect the:
Salon/spa
Customers
Inventory
Employee
33
Features of a product are its characteristics, which might include:
Size of container
Renewing effect
Perfect for traveling
Economical purchase
34
Buyer type: wants to save money at all costs and is not as interested in quality of the product as price:
Bargain
Ready
Stubborn
Logical
35
The salon/ spa exterior, decor, music, and sounds, and air, and ventilation are all components of:
Synergy
Personalized approach
Ambiance
Shared accountability
36
Time period for short term goal:
2 years
1 year
5 years
3 years
37
The exchange of services, products or expertise for money is known as:
Analyzing
Recommending
Assessing
Selling
38
What is considered the best form of advertising?
Direct mail
Social media
Print ads
Word of mouth
39
An effective strategy to encourage repeat business from a client is to:
Have a negative approach to clients
Provide exceptional service
Limit your work hours
Avoid sending thank you cards
40
An agreement on how things are to be done in the salon/spa so things happen in a uniform way is called:
Treatment
Prebooking
Accountability
Consistency
41
A goal strategy that states exactly what you want to accomplish is referred to as being:
Measurable
Specific
Realistic
Achievable
42
The renting of a booth/suite by an individual esthetician on a monthly basis is referred to as a(n):
Chain salon/spa
Independent contractor
Independent salon/spa
Full-service salon/spa
43
Which of the following time periods identifies the consideration for being a long term goal?
5 years
1 year
3 months
6 months
44
The generation that wants to know more about products/ business is:
Traditionalists
Baby boomers
Millennials
IGeneration
45
A set dollar amount of rent paid each month to the lessor is called:
Fixed rent
Flexible rent
Tentative rent
Variable rent
46
I will get a job within the next 60 days is an example of what type of goal?
Measurable
Timely
Realistic
Achievable
47
In the industry, an esthetician with all appointments scheduled for a day is referred to as:
Full book
Prebook
Target market
Upsell
48
Turning a $70 ticket into a $80 ticket is an example of:
Upselling
Client profile
Demographics
Target marketing
49
Before an interview begins, you may be ask to fill out a(n):
Portfolio
Application
Reference
Résumé
50
In many cases, the first person to greet a client as they arrive is the:
Manager
Front desk associate
Distributor consultant
Owner