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BUSI 1005 - Exam Review (Chapters 11 - 16 and Insurance) Flashcards | StudBud
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BUSI 1005 - Exam Review (Chapters 11 - 16 and Insurance)
What is a sympathy strike?
What is 360-degree appraisal?
BUSI 1005 - Exam Review (Chapters 11 - 16 and Insurance)
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1
What is 360-degree appraisal?
Trait appraisal
On-the-job appraisal
Informal appraisal
Performance appraisal done by several involving parties
2
What is a sympathy strike?
When a union feels sympathetic to another union.
When private citizens support a union.
When one union strikes to help a sister union
When even the management sympathize with a union.
3
Who is more likely to have insurance premiums?
60+
40-60 years old
25-35 years old
16-18 years old
4
Which of the following risks faced by businesses are often uninsurable?
economic conditions
all of the above
consumer demand
competitors' actions
5
Maslow's Hierarchy Stage Five
Physiological - having to do with basic physical needs
Love/Belonging - friendship, family, intimacy
Esteem - confidence, achievement, respect
Self-Actualization -problem-solving, reaching full potential
6
...is the most common cyber crime nowadays, so we should be careful about what we put online.
Bribery
Blackmailing
Identity theft
7
The point of the performance appraisal is to __________.
demonstrate correct methods for work procedures
avoid legal problems, especially discrimination complaints
stimulate better job performance
provide a paper trail of manager-employee interactions
8
If you get a mortgage from the bank and you get mortgage insurance, the beneficiary is whomever you want
False
True
9
Is training an investment or an expense
Both
Neither
Investment
Expense
10
What step requires the searching of your target market?
Approach
Preapproach
Selling
Handling Objections
11
The process of hiring/developing employees so they become valuable to the organization is
Marketing management
Operations Management
Information Management
Human Resources Management
12
Which of the following does not affect your credit score?
Length of Credit History
Your Debt
Payment History
Age
13
What is Job Rotation?
When you spin around on the job constantly
Having more responsibility
Preforming different jobs during the day, week or month
Changing the people you work with
14
Branding is a.....
lifestyle the company promotes
Process of creating the name and the logo of a brand
Technique used by an organization to increase the demand for a good
Strategy for a company to create bonds with other companies
15
Market research does all of the following EXCEPT
identifies potential customers
determines how profitable the product will be
reveals your competition
determines target market
16
The major function of personal financial planning is to
Achieve personal economic satisfaction
Build a budget
Get into debt
Reduce taxes
17
Maslow's Hierarchy Stage Three
Physiological - having to do with basic physical needs
Self-Actualization-problem-solving, reaching full potential
Love/Belonging - friendship, family, intimacy
Safety-security of body, resources, family, health, property
18
The earliest form of advertising was what?
Newspapers
Word of Mouth
Billboards
Councils
19
Structured, scheduled activities or events with specific criteria, which are used to recognize employee contributions
Informal Recognition
Formal Recognition
Excellence
Collaboration
20
What roles do banks have in the economy?
They help people invest their money in stocks.
Both A and C
They tax customers to pay for new programs.
They provide loans to people who need to borrow money.
21
The maximum amount the insurer will pay for losses.
coverage limit
premium
deductible
insurance
22
which answer IS NOT the correct way to provide and receive effective employee feedback?
Wait for a quarterly review to provide or receive feedback
Be very specific when giving employee feedback
Do a good deed for an employee
End on a good note
23
Maslow's Hierarchy Step One
Esteem - confidence, achievement, respect
Safety-security of body, resources, family, health, property
Physiological - having to do with basic physical needs
Love/Belonging - friendship, family, intimacy
24
In Herzberg's two-factor Theory what are hygiene based on?
Company Policies
Interpersonal relationships
Working conditions and pay
All of the conditions mentioned
25
The number of websites visited every month by Canadians is the highest in the world
False
True
26
The estimated global cost of cybercrime is between
$375 - $575 billion
$600 - $775 billion
$875 - $975 billion
$275 - $355 billion
27
I own the building/land, buy the insurance, hire the landlord and pay property taxes. Who am I?
Tenant
Landlord
Property Owner
28
Payment to cover liability losses and damage/loss of home structure and it's contents:
Liability
Personal Property Floater
Property
Life
29
What will personal property cover?
heating, plumbing, AC
personal guests who are injured at your house
clothes, jewelry, furniture
if your pet is injured in your home
30
Mediation is a:
Informal process without an independent party
Formal process without an independent party
Formal process with an independent party
Informal process with an independent party
31
Businesses that face uninsurable risks must assume the cost of the risk
Risk transfer
None of the above
Risk retention
uninsurable risk
32
The debt to equity ratio is calculated as:
Total Liabilities/Total Equity
Total Liabilities/Total Assets
Current Liabilties/Total Equity
Total Assets/Total Equity
33
Which region has the MOST Social Media users ?
East Asia
North America
West Europe
South America
34
An income statement and balance sheet should be made at the ...
when a business closes for the day
middle of a fiscal period
beginning of a fiscal period
end of a fiscal period
35
Cybercrime has been ranked second out of 10 of the most important issues facing the insurance industry
True
False
36
How did the unionization rate change in Canada in the past 30 years
Basically unchanged
First increased, then decreased
Decreased
Increased
37
HR forecasting will determine the supply of human resources but not the demand
False
True
38
Which exhibits positive work ethic?
Arriving to work late
Leaving early just because you felt like it
Helping a coworker with a difficult task
Keeping vital work information to yourself
39
A wildcat strike refers to...
To begin a strike.
When strikers are angry as a wildcat.
A work stoppage not authorized by the union.
The same as a strike
40
In 2013 what percentage of businesses used the internet
81
89
73
95
41
Any initial or partial payment made to reduce a debt is known as
an installment.
a fine.
a pay off.
a down payment.
42
1. What is another word for orientation?
Training
Off Boarding
Tree Climbing
Onboarding
43
In 2013 what percentage of Canadian households used the internet
87
86
84
85
44
What country has the highest unionization rate?
Finland
Britain
Canada
USA
45
How can all employees cultivate positive employee relationships through recognition?
Company values
All of the above
Appreciation for their work
Good relationships with colleagues
46
A written contract for purchasing insurance.
beneficiary
rider
premium
policy
47
The equity theory of employee perceptions includes
All of the above
Contributions
Comparisons
Returns
48
Among the problems of most performance review systems are:
the need to set improvement goals
the necessity of sharing the evaluation with the worker
the difficulty of being fair and objective
all of the above
49
Functions of Insurance include
Aid to Credit
Capital
Security
All of the above
50
You can damage a good credit rating by
notifying creditors immediately if you cannot pay as agreed
refusing to pay amounts in dispute because of billing errors
limiting your use of credit to amounts you can repay
ignoring bills you cannot pay until creditors take action
51
Trademark is
none of the above
starting point on a computer
identification device in the form of a symbol or logotype
mark to show your trade
52
What is Arbitration?
a party which makes decisions
third party makes a binding determination to resolve matters
a party that gives support to parties
party that attempts to resolve conflict
53
Insurance Bureau of Canada, works to prevent, detect and investigate insurance crimes
False
True
54
What does the current ratio show us?
How much debt a firm owes
How many current assets a firm has
A measure of a firms ability to meet short term liabilities
How many current liabilities a firm owes
55
A way to motivate employees to be more productive
Provide new skill opportunities
Embrace defined pay schedules
Support structured work schedules
Remain centralized
56
When you have a good credit score you get?
higher interest rate
lower interest
no credit
illegal loan
57
Time Value of Money is best explained as...
Compounding increases over time
Risk to return relationship
a dollar today is worth more than a dollar tomorrow
Pay yourself first
58
Why did Target rush to enter the Canadian market?
Both A and B
Pressure from Target Headquarters
None of the above
Fear of Walmart's speed at expanding in Canada
59
Ensuring that employees are treated fairly and ethically is:
a core aspect of corporate social responsibility
the responsibility of company management
not central to corporate social responsibility
a human resources issue
60
In the 19th Century, unions were._____ in Canada
Totally illegal
Quite legal
Legal but frowned upon
not well understood
61
What was the most effective tactic used when collective bargaining did not work out?
Strike
Trying collective bargaining again
Arbitration
Mediation
62
Maslow's Hierarchy Stage Four
Self-Actualization-problem-solving, reaching full potential
Esteem - confidence, achievement, respect
Physiological - having to do with basic physical needs
Love/Belonging - friendship, family, intimacy
63
what are deductibles for insurance?
how much insurance coverage you have
monthly payments to insurance company
portion of covered expense paid by insured person
your a wizard harry
64
Employee benefits are part of an employees compensation and could include:
vacation pay
insurance
all of these
bonuses
65
Types of involuntary terminations include
All of the above
Layoff
Restructuring
Firing
66
How is a balance sheet different to an income statement?
Balance sheet shows gross profit
Balance sheet shows expenses
Balance sheet shows the value of the company
Balance sheet shows income
67
Who uses accounting information?
All of the above
Banks
Managers
Investors
68
Market segmentation means?
Segmenting the employees
Segmenting the products
Segmenting the salesmen
Segmenting the customers as per needs
69
Ratio Analysis is
Qualitative
not useful
Quantitative
Boring
70
In an appraisal interview the supervisor should:
all of the above
start with the negative things and get them over with
do all the talking
encourage the worker to discuss problems about the work
71
The promotional mix comprises
Advertising PR publicity sales promotion and personal selling
Advertising direct mail sales promotion & personal selling
Advertising social media PR and personal selling
Advertising PR sales promotion and social media
72
Define Risk Avoidance
The process of eliminating a risk by choosing not to engage in an action
The act of taking steps to move responsibility for a risk to a third party
Means using multiple layers of security to defend your assets.
Consists of taking steps to reduce risk by using tools
73
Introducing a new product to a small portion of the target market.
prototype
creativity
test marketing
release date
74
what is risk management
uncontrollable risk
the product/ service is available at an affordable price
preventing,reducing,or lesseningthe negative impacts of risk
uninsurable risk
75
What is job enlargement?
Longer hours for employees
non-financial motivation giving the employee greater tasks
More people are employed
76
What is compound interest?
a decrease in interest rate
interest on asset
the liquidity of interest
interest on interest
77
Which credit score is the best to have?
700-749
550-649
0-999
650-699
78
Who is responsible for the maintenance of customer relationships?
Sales Team
The entire company
Marketing Team
Both Sales and Marketing Team
79
What can you NOT advertise via social media?
Movies
Non-medical drugs (cocaine,ecstasy,marijuana)
You can advertise all of the things mentioned above
Books
80
A benefit of breakeven analysis is that...
It is time consuming to construct
It allows targets to be set
External factors aren't accounted for
It only accounts for one product
81
What social media should a business always use for marketing?
Blogs
Businesses should use every social media for marketing
Depends on the type of business, products and target market
Twitter, Facebook and Instagram
82
These are all Internet recruiting tools
Only Linkedin
Only Facebook
Only job boards
Twitter, blogs, Facebook, job boards, Linkedin, videos
83
Examples of Incentive Programs include:
All of the above
Profit-Sharing Palns
Stock-Option Plans
Bonus Plans
84
The Expectancy Theory is based on which of the following?
Specific and Difficult Goals
Other People
Effort, Performance, Reward
Comparison Results
85
What are insurance premiums
a golden ticket
monthy payments to the insurance company
a package deal coupon
how much protection insurance provides
86
What is job enrichment?
Gives employees less responsibilities.
Gives them less challenges.
Gives them freedom of speach.
Giving the employees greater responsibility &more challenges
87
Who calculates insurance rates?
policyholder
insurer
actuaries
none of the above
88
Key Person Business Insurance Income will help cover what expenses?
Over time and staff bonus to cover extra duties
All of these
Fixed overhead costs such as monthly lease of the building
Replacement labour costs of a sick or disabled key employee
89
Maslow's Hierarchy Stage Two
Safety-security of body, resources, family, health, property
Physiological - having to do with basic physical needs
Esteem - confidence, achievement, respect
Love/Belonging - friendship, family, intimacy
90
Why people leave their jobs?
All of the above
Employer makes unreasonable work demands
Failure to be clear of expectations
Employers refuse to value their opinions
91
Which of the following is considered a threat to social media marketing?
Negative comments
Affordable
Ability to increase brand awareness
Broad reach
92
A cash flow statement is...
The assets and liabilities document
The document that shows the total revenue
The document that records cash inflows and outflows
The net profit
93
The four risk management strategies are?
Identify, monitor, control, manage
Avoid, reduce, transfer, retain
Identify, determine, evaluate, prioritize
94
What are the two types of selling?
Marketing & Distribution
There's only one
Buying & Manufacturing
Consultative & Feature-Benefit
95
Flexible work schedules and arrangements can be accommodated by:
Accomodating work and family needs
Alternative work arrengements
Organizational Assessment
Recruitment
96
What is collective bargaining?
Negotiations between labor reps and management
A shakedown by those who want more than they deserve
Talks between labor reps and corporate shareholders
A discussion between executives and workers
97
The first step of the marketing concept is to
operate at a profit
identify what will satisfy customers' needs
develop top-quality products or services
hire a team of talented marketing professionals
98
What is NOT a tactic used by Unions during a strike?
Hiring replacement workers
Coordinated Campaigning
Picketing
Boycotting
99
The final step in the financial planning process is to
review and revise your actions
Create a financial plan of action
implement your financial plan.
develop financial goals
100
The financial statements of all public corporations are available to the public.
False
True
