ENTR 101 Final Exam Review

Question 1

What is the most important factor for Jason in establishing his reputation for his cleaning co

Accepted Answer

Consistently and reliably providing quality service

Question 2

Which % of a message's meaning is derived from non-verbal behavior?

Accepted Answer

60-70%

Question 3

In building a success network, you should do all of the following, except

Accepted Answer

Call and say, "Can I take you to lunch for a couple of hours

Question 4

Uncle Cleve created a network of ___________________

Accepted Answer

Action-oriented individuals who share commitment to success

Question 5

Which of the methods below are conducive to creating wealth vs. appearing wealthy?

Accepted Answer

Live beneath one's means

Question 6

Which of the following describes an explicit message?

Accepted Answer

Literal and clearly stated

Question 7

Which quotation is from Jeff Bezos, founder of Amazon

Accepted Answer

"A brand for a company is like a reputation for a person"

Question 8

Professionals in your success network can provide the following support:

Accepted Answer

Critical help in areas you may not understand

Question 9

All of the following are explanations for confidence, except:

Accepted Answer

You are either born with confidence or you're not

Question 10

Rather than allowing others to determine their income, entrepreneurs look for ways to ____

Accepted Answer

All of the above

Question 11

What event inspired Dawn Halfaker to change her mindset from focusing on what she lost

Accepted Answer

Witnessing another severely disabled veteran walk

Question 12

What is social influence ?

Accepted Answer

Peer Pressure

Question 13

All of the following mindset attributes and skills are necessary for success in Phase 1 except

Accepted Answer

Having a focus on repetition and growth

Question 14

All of the following are characteristics of a success network, except:

Accepted Answer

It is a community of chance, not choice

Question 15

Which of the following is a Theory Y about employee motivation?

Accepted Answer

Employees possess the ability for creative problem solving

Question 16

There are two distinct means of communication: One is explicit, the other is implicit

Accepted Answer

True

Question 17

Which answer below best defines the two most important aspects of your brand?

Accepted Answer

What you say about your business and the actions you take

Question 18

Confidence is something we either have or we don't

Accepted Answer

False

Question 19

A social network is a structure made of people who are connected by common goals or interests

Accepted Answer

True

Question 20

The most important members of our success community are mentors and advisers

Accepted Answer

True

Question 21

Discretionary income is the total amount of money a person earns.

Accepted Answer

False

Question 22

Which factor below contributes most to the accumulation of wealth?

Accepted Answer

Choosing hard work, perseverance, planning, self discipline

Question 23

Which of the following is required to build a success network?

Accepted Answer

Determination and willingness to try

Question 24

Defining our brand requires us to understand the problem we are solving from our customers view

Accepted Answer

True

Question 25

The skills that enable us to succeed in one business phase will enable us to succeed in another

Accepted Answer

False

Question 26

A persistent entrepreneur needs all of the following to succeed except:

Accepted Answer

Get rich quick scheme

Question 27

How did the Moores overcome the obstacle of lack of money when starting their business?

Accepted Answer

Each family meber contributed $50 a week

Question 28

All of the following groups are important to have in your success network, except:

Accepted Answer

Customers

Question 29

1-800 GOT JUNK branding includes all of the following except:

Accepted Answer

Not returning phone calls

Question 30

How many phone calls did Brian Scdamore make before he secured the # 1-800-GOT JUNK?

Accepted Answer

60

Question 31

Which of the following is true of a balance sheet, but not of an income and expense statement

Accepted Answer

A snapshot of a person's or business' equity or net worth

Question 32

All are examples of "Branding by default", except

Accepted Answer

Clearly identify the type of customers intended to be served

Question 33

All of the following describe an entrepreneur's approach to creating new wealth, except:

Accepted Answer

Engaging in mindless spending

Question 34

The appearance of wealth is usually a good indication of a person's true wealth

Accepted Answer

False

Question 35

How did Formula 409 get its name?

Accepted Answer

It took 409 tries to get the formula right

Question 36

What should you look for in a partner for your business?

Accepted Answer

Complementary skills

Question 37

Which of the following is the most powerful aspect of an entrepreneurs success

Accepted Answer

Persistence

Question 38

What did Jason Campbell learn from face to face selling that made customers give him a chance?

Accepted Answer

A fixed fee was more acceptable to pay teen than hourly rate

Question 39

Uncle Cleve, and entrepreneurs alike, view money as...

Accepted Answer

A tool

Question 40

How did the Moore's revenue grow?

Accepted Answer

$400 to $400,000 in 4 years

Question 41

As an entrepreneur, your brand is your

Accepted Answer

Reputaion

Question 42

What was Uncle Cleve's brand?

Accepted Answer

Reliability

Question 43

All of the following unconscious impulses can drive us to debt, except

Accepted Answer

Custumer demand has created need for new equipment

Question 44

Which statement does not reflect an intrinsically motivated entrepreneur

Accepted Answer

"Put your money into things that are there to pacify you"

Question 45

Which of the following is a requirement for entrepreneurial success.

Accepted Answer

The ability to be reliable

Question 46

Which of the following best describes an entrepreneur's motive in seeking to create wealth?

Accepted Answer

Achieving independence

Question 47

The terms spending and investing are synonymous to an entrepreneur

Accepted Answer

False

Question 48

Buying things on credit should be avoided at all costs

Accepted Answer

False

ENTR 101 Final Exam Review

Questions 48

ENTR 101 Final Exam Review

Questions 48