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Merch & Man EX 2 study Flashcards | StudBud
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Merch & Man EX 2 study
Merch & Man EX 2 study
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Ch 22, 26-28
Flashcards
79 cards
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Practice quiz
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Questions
79
Answers
1
The mission statement typically speaks to the following, except:
Areas of specialization
The financial goals
Reasons the organization exists
Clientele served
2
In the directing phase the funeral director must strive to do the following except:
have a vision for the future
look at the present bottom line
Be able to communicate and articulate the vision of the funeral home
conscientiously treat other funeral directors as competitors
3
Natural coffin is made from material readily biodegradable as cardboard and wicker. A cotton shroud is another option.
True
False
4
This management function is accomplished by a specific datge and is stated in specific terms
Mission statement
Objectives
Intent
Purpose
5
Most experts in the field recomment that a funeral home spend between ___ of its yearly gross income on advertising
1-4 percent
2-5 percent
3-6 percent
7-10 percent
6
Types of consumer credit include the following except
mortgage loans
credit card services (visa)
charge accounts
installment credit
7
body disposal in natural setting with no embalming & no casket, with aim of biodegradable materials for sustainable cem.
green burial
cremation
alkalyne hydrolysis
promession
8
A source of market data that explains where certain businesses are located
Census of Business
Census of Manufacture
Census of Population
Census of Housing
9
types of people that generally find green burial appealing, except?
one who does not see the value of embalming
those who have lived a green life
one who does not wish their body to be interred into the earth
one who wants to give back to the earth, ultimate form of recycling
10
The point at which sales revenue equals the cost and expenses of making and distributing a product
profit-loss ratio
expenditure
overhead
break-even point
11
Life insurance that protects a firm against losses due to the death of a key employee
malpractice insurance
liability insurance
key-person life insurance
self insurance
12
This statement summarizes why a funeral home is in business and how it operates
Firms financial goals
Firm's sexual harassment policy
Firm's operational practices
Firm's mission statement
13
this form of advertising is inexpensive, multifunctional, can be personalized and easy for people to store and refer to
Business cards
Direct mail
Yellow pages
Church bulletins
14
insurance that allows insured,instead of benefic, to collectface value of policy upon maturity or collect value in pmt.
universal life insurance
endowment life insurance
term life insurance
whole life insurance
15
All of the following make financing more affordable except
Renting
Leasing vs buying
Selling off excess inventory
Factoring
16
This percentage of mortuary science licensees following their careers to retirement
25 percent
50 percent
75 percent
10 percent
17
One of the most important communication tools between the company and employees
firm's mission statement
employee personnel folder
employee pay check
employee handbook
18
an effective funeral servic managr must be knowldgeable about specialty of marketing, which include the following except
Religious Rites
Customer relations
Promotion
Public relations
19
This statement summarizes why a funeral home is in business and how it operates:
Firms financial goals
Firms mission stratement
Firms operational practices
Firms sexual harassment policy
20
In this management phase work that needs to be completed is divided into units.groups of people are given resp for each
organizatin phase
Evaluating or controling phase
planning phase
Directing (actuating phase)
21
how many months cash expenses should a business keep on hand
1 year
1 month-3 months
8-10 months
3 months -6 months
22
Private individuals or groups who loan money for business
friends
small business lenders
FHA
Venture capitalists
23
insurance on an owner that will supply money for a partner to buy his share upon death
tern life insurance
Business interruption insurance
endowment insurance
Buy-sell insurance
24
The mission statement is developed in theDirecting (actuating) phase
evaluating or controlling phase
directing (actuating) phase
Organization phase
planning phase
25
Goals are established in the
organization phase
planning phase
Directing (actuating) phase
evaluating or controlling phase
26
A friendly reminder is a general procedural action for collecting an outstanding bill, this is which step
2nd
4th
1st
5th
27
Prohibits discrimination against any qualified individual with a disability
American with Disabilities Act of 1990
Rehabilitation Act of 1973
Civil Rights Act of 1964
Age Discrimination in Employment
28
What percent of the 19,000 funeral homes in the country are privately owned
75%
74%
60%
82%
29
Human composting is projected to ___ in use.
stay about the same
increase
decrease
stop
30
The following are common business credit terms except:
COW
CBD
MOM
COD
31
the disadvantages of a sole proprietorship include the following, except
Unlimited risk
Limited management ability
Limited Life
Double taxation of earnings
32
Synonymous with glyphs:
Logos
Jingles
Press kits
Marks
33
The funeral home manager must do the following except:
Supervise employees
Maintain quality control in all dealings with the community
Ensure the funeral home is adhering to all state and federal laws
Keep the business operating efficiently and profitably
34
Instead of memorial service or visitation, people are using the terms:
memorial service
funeral service
life celebration
rememberance service
35
A name, term, design or any other features that identifies ones sellers goods or services as distinct from others
copyright
Advertising
brand images
Brand
36
A function of management involves gettin the member of organization to perform in way that achieve the company objective
Directing (actuating)
Planning
Evaluating or controlling
Organizing
37
In common business terms what is 2/10, n30
2% discount off every $10 if paid within 30 days
2/10 % due in 30 days
2% discount if paid in 10 days, net bill due in 30 days
38
This theory maintains that people have many needs and are continually trying to fulfil the ones they have not yet
kubler ross Stages of grief
Theory X and Y
Maslow's hiearchy of needs
Hertzbergs two-factor theory
39
Douglas McGregor is known for
The Hierarchy of Needs
Theory X and Theory Y
The Stages of Grief
Two Factor Theory
40
Insurance that protect company during the necessary time to restore property damaged by peril. pays for income & expense
credit insurance
endowment insurance
product liability insurance
business interruption insurance
41
Funeral service practi9ce supports the management concept of "caveat venditor," which is synonymous with:
Let the buyer beware
First come, first
Let seller beware
watch out for Number one
42
Insurance that protects a firm against claims that its product caused bodily injury or property damage to user
universal life ins
general liability ins
endowment ins
Product liability ins
43
a request for the amount of money you will need to start or expand your business
funding request
financial data
appendix
market analysis
44
By 2030, ___% of families will choose cremation
75%
65%
71%
56%
45
The mission statement addresses the following except
the products and services offered
the clientele served
the reason the organization exists
the contributions to the community
46
Insurance covering business liability to customers injured on or off premises or from product sold to them
casualty insurance
Credit life insurance
endowment insurance
General liability insurance
47
Insurance that protects non retailing businesses from abnormal bad debt losses
general liability insurance
casualty insurance
credit insurance
business interruption insurance
48
The foundation on which every good employee-employer relationship develops
job analyses
Firms mission statement
Job descriptions
employee handbook
49
Female mortuary students have increased steadily over the last 20 years. ___% of students are female.
67%
64%
70%
57%
50
Examples of "fixed expenses" include the following except
insurance
utilities
salaries
debt
51
A good manager can inspire employees to do their best. The manager does this in the following ways except
establishing an enjoyable work environment
providing a six month sabbatical after five years of service
removing organizational obstacles hindering employees
obtaining sufficent resources
52
interview candidate 3 diff. time under 3 diff. situat. w/ 3 diff. interviewers, prolong give chance to dress, attit. and
show up on time
Demonstrate how to handle stress
Learn personality quirks
Provide consistent references
53
In this function of management specific people or groups should be given responsibility for each manageable unit of work
Directing (actuating)
planning
evaluating or controlling
organizing
54
A qualificatrion that is absolutely necessary for the job, it is an allowed an approved reason for discrimination:
Occupational disclosure qualification
Bona fide occupational qualification
Necessary exemption qualification
Occupational exclusion qualifcation
55
Merchandising is:
a business that purchases finished products for resale
a business that makes finished goods from raw materials
a business that provides a service
56
Setting an initial low price at the beginning of your business in hopes of attracting new customers
penetration pricing
economy pricing
package pricing
loss leader pricing
57
Effective funeral service manager must be knowledgeable about the specialty are which includes OSHA, the ADA and the EPA
Facilities
Resources
Technical
Communications
58
Insurance against loss through accident or sickness
accident and health insurance
casualty insurance
liability insurance
endowment insurance
59
Examples of "variable expenses" include the following except
hourly wage expenses
repairs
depreciation
supplies
60
what is the difference in working capital and circulating capital
cash vs credit
difference between current assets and current liabilities
difference in debt to credit ratio
the long term capital invested in the business
61
Outlaws discrimination in employment against those who are over 40 years of age
Civil Right Act of 1964
Equal Pay Act of 1963
Age Discrimination in Employment Act of 1967
Rehabilitation Act of 1973
62
A funeral home's most important asset:
Repeat business
Inventory
Personnel
Property aesthetics
63
Casualty insurance
provide monetary benefit to a business that had unforseen peril flood, fire
insurance that protects a firm against loss due to the death of key employe
insurance covering business liability to customers injured on property
insurance that protects non retailing business from bad debt loss
64
Insurance that protects non retailing businesses from abnormal bad-debt losses
Casualty insurance
Credit insurance
Endowment insurance
Product liability insurance
65
The personnel manual or handbook should start with the firm's
mission statement
Financial goals
job descriptions
history
66
Objectives are established in the:
organization phase
Directing (actuating) phase
planning phase
evaluating or controlling phase
67
A death suit made of mushroom spores helps bodies decompose sustainably by all of the following except
remediates toxins accumulated over a lifetime
speeds nutrient delivery back to plants
speeds the return to the earth by decomposition
crystalizes the body in order to blend into earth faster
68
This act of motivating people towards the achievement of a goal or goals
Franchise management
Business Management
Management
Funeral Home management
69
Promession is
freeze drying with liquid nitrogen
soaked in alkaline misture
being spiritual not religious
a form of green burial
70
Experts estimate a consumer must see an advertisement from___in a relatively short period before learning the message
6 to 12 times
4 to 10 times
14 to 20 times
9 to 15 times
71
The following are ways to make financing more affordable, except
selling off excess inventory
factoring
leasing vs buying
depreciation
72
There will be a decrease in family owned funeral homes
True
False
73
registered right of creator to reproduce, publish, sell the work thatis the product of intelligence & skill of theperson
trademark
copyrights
goodwill
patents
74
They type of insurance to purchase for protection against litigation is commonly referred to as Professional Liability
key person
endowment
Malpractice clause
Personal liability
75
Broad statements about what an organization wants to achieve
intent
goals
Mission statement
purpose
76
The interrment of a body into soil in a manner that does not inhibit decomposition, but allows to decompose naturally
green burial
cremation
hydrolysis
promession
77
This item usually no more than one or two sentences describes the purpose of the organization:
Visionary statement
Statement of intent
Purpose statement
Mission statement
78
Capsula mundi are
skin art removed for keepsake
alkaline hydrolysis crystals
3D bust used as urn
biodegradeable pods
79
One of the most important communication tools between the company and employees
Employee personnel folder
Firms mission statement
Employee handbook
Employee pay check