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Business 103
Business 103
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1
The money in your bank accounts, IRAs, stocks and bonds are all considered to be your total:
net worth
fortune
assets
liabilities
2
Important information about the client, combined with the financial value of a client, is referred to as the:
client factor
target market
client profile
client info
3
An efficient working space for each salon professional is:
120-150 square feet
50-75 square feet
200-300 square feet
over 300 square feet
4
The item that offers an employer a brief summary of why you would like to be employed at the salon?
cover letter
profile
application
resume
5
Which of the following items must be reported as employee income?
operating expenses paid by the salon
money paid to vendors for products
tips received by the employee
change given to a client following appointment
6
Which concept involves converting existing clients to return clients?
client retention
client profile
CRM
client factor
7
Which is usually the largest expense in operating a salon?
supplies
advertisement
rent
salaries and commissions
8
Which type of insurance protects the salon owner from financial loss due to an employee's negligence?
malpractice
product liability
Social Security
premise
9
A highly satisfied client directing another person to see you is called a(n):
upsell
client factor
referral
prebook
10
What is considered to be the number one reason why clients move on to another salon?
indifferent attitude of an employee
move away
competitive reasons
product dissatisfaction
11
Term given for selling products for client home care:
networking
scheduling
warehousing
retailing
12
Offering an additional hair coloring service to a client who originally scheduled a haircut appointment is what?
target marketing
upselling
full book
balancing
13
Which of the statements describes what you should do if you are asked a discriminatory question?
politely decline to answer
give a false answer
answer the question truthfully
remain silent
14
What percentage of the total salon expenses generally represents compensation for the salon owner and employees?
75%
50%
10%
25%
15
Which of the following descriptions would be considered a key to successful client relationships?
don't explain the finished look in the consultation
teach the client how to maintain their look at home
ensure clients know you are busy by making them wait 15 minutes
declare you can make the client look like any photo they bring in
16
Dependability as a work principle can be described as:
getting along with coworkers
showing that you love what you do
showing up on time and ready to work
not waiting to be told what to do
17
During a job interview it is very important to:
tell a lot of stories
stay calm and be yourself
tell the interviewer your age
stretch the truth if necessary
18
Which of these descriptions is NOT a guideline to be used when creating a resume?
list awards
provide at least 8 pages of info
write the resume in a brief and concise manner
show prior employment info
19
Networking provides all of the following benefits EXCEPT:
contacts create difficult situations that turn into real problems
gives access to people and resources
leads to lifelong friendships
provides a good way to learn about trends
20
How often does the average loyal client visit a salon?
every 6 weeks
twice per year
every 3 months
every 2 weeks
21
Compliance with all local, state and federal rules, regulations and laws is the responsibility of the:
local authorites
salon employees
former building owner
salon owner
22
The emotional buyer bases his or her purchases on:
being a new product
personal reasons
price
facts
23
Statistics indicate that satisfied clients will usually refer how many new clients?
twelve
one
three
eight
24
Which defines a specific target or benchmark of achievement that can be attained within a specific timeframe?
milestone
budget
schedule
goal
25
A staff member takes individual initiative to stay on top of things and to pay attention to detail is the practice of?
cooperation
with-it-ness
problem-solving
conflict management
26
The type of business ownership is which two or more persons share all costs of opening, operating, & maintaining is:
sole proprietorship
corporation
franchise
partnership
27
Insurance benefits might include all types EXCEPT:
life insurance
car insurance
health insurance
accident insurance
28
In many cases, the first person to greet a client as they arrive is the:
distributor
owner
manager
receptionist
29
Which of the following terms refers to all money owed?
liabilities
assets
financial status
net worth
30
Features of a product are its characteristics, which might include:
size of container
economical purchase
added shine
re-conditioning effects