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Mock Exam Five - 24 February 2025 Topic Revision Quiz Flashcards | StudBud
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Mock Exam Five - 24 February 2025 Topic Revision Quiz
Mock Exam Five - 24 February 2025 Topic Revision Quiz
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1
How can you improve staff turnover?
Offer a Zero Hour contract
Job enrichment
Docking wages for lateness
Competitive pay
2
Payback Period is measured in
How much revenge you have
Years/months
Pounds
Skittles
3
The PED is 0.3 and the business is decreasing the price by 8%. What is the response in demand?
5.7% increase in demand
5.7% decrease in demand
2.4% increase in demand
2.4% decrease in demand
4
Which motivational theory is this?
Herzberg
Maslow
Taylor
Count Binhead
5
The gross profit margin is calculated as
Gross Profit / Revenues
Gross Profit/ Number of staff x 100
Gross Profit x Revenues x 100
Gross Profit / Revenues x 100
6
Ratio Analysis. Which of these are an example of financial efficiency analysis?
Gross Profit Margin
Current Ratio
Return on Capital Employed
Payables Days
7
Which of these does not have much influence on the effectiveness of a leadership style?
The weather
How well the employees are trained
Established procedures
Stress levels
8
For PESTLE, the E stands for...
Ecological
Ethical
Europe
Economic
9
What is Outsourcing?
A third party completing work for the business
Relocating units of a business back to the UK from overseas
Adding ketchup to your sandwiches on a picnic
Relocation of business units overseas
10
A benefit of issuing shares is?
Existing shareholders’ holdings may be diluted
Costs almost nothing to do
You get VIP tickets to fly to Wall Street
Able to raise substantial funds if the business has good prospects
11
Which of these is a financial motivation to work?
Job enlargement
Job enrichment
Commission
Working environment
12
Tannenbaum and Schmidt Continuum of Leadership- When a manager presents ideas & invites questions from staff they are..
Joining
Consulting
Telling
Selling
13
What is NOT a reason why strategic drift may take place?
Business embraces change
Complacency has set in – often built on previous success
Business fails to adapt to a changing external environment
Senior management deny there is a problem
14
Taylors Scientific Theory of Motivation is based around business efficiency
False
True
15
Authoritarian leadership will....
Have little input in the day-to-day decision making
Address employee needs
Take decisions with little involvement of employees
Focus on motivation and morale
16
What factor does NOT have a major effect on staff turnover?
Economic conditions
Number of plants in the office
Motivational levels
Working conditions
17
What is the date of your Business Mock Exam
Monday 24 Feb
Friday 30 June
Tuesday 25 Feb
Wednesday 26 Feb
18
Tannenbaum and Schmidt Continuum of Leadership- When a manager justifies their decision they are
Consulting
Joining
Telling
Selling
19
A 5-6 marker question requires evaluation in the answer
True
False
20
Which type of industry would have a marketing mix with an emphasis on price
Cars
Low Cost Airlines
Soaps
Coffee Shops
21
For PESTLE, the P stands for...
Poignant
Poetry
Political
Penzance
22
A drawback of using a decision tree
It examines all possible options
May not consider external influences
They will only get chopped down and used to make desks in Business classes
Hunch decision making is more accurate then scientific decision making
23
A benefit of using cost price (plus) is
It guarantees the business will always make profits
Price increases are easy to justify
It follows Price Elasticity of Demand
It takes account of competitor pricing
24
Which is these is a Star product?
One that has two Academy Awards
Low share of a rapidly growing market
A market leader in a growth market
In the mature stage in the product life cycle
25
This is an example of
Positive correlation
No correlation
Negative correlation
Extrapolation
26
Which of these is an external influence on objectives?
Corporate objectives
Legal change
Marketing issues
Human resources
27
Which of these is not a classification of leadership style?
Cool, calm and collected
Paternalistic
Democratic
Laissez-faire
28
To calculate inventory turnover you..
Multiply cost of sales by inventories
Divide cost of sales over average value of inventories held
Add cost of inventory to revenue
Minus cost of sales by boxes of kit kats
29
£ 1= €1.25. What is 100.000 euros worth in exchange for pounds?
£125,000
£90,000
£70,000
£80,000
30
The Gross Profit Margin and Net Profit Margin are useful for tracking..
Expenditure
Satellites
Profitability
Trends
31
An impact of E-Commerce is that is has, on the whole, reduced product life cycles
True
False
32
A question that is worth 16 or more marks requires...
Computer aided support from Deep Thought
At least 16 different points
Going straight into the debate, no introduction needed
Introduction, conclusion, analysis, justification, solutions and evaluation
33
Is it good to have a higher or lower gross profit margin?
Higher
Lower
34
Selling price per unit is £10.The variable cost per unit is £4.What is the contribution per unit.Fixed costs are £12,000
£6
£48,000
£11,996
£62,000
35
What is Discounting?
Financial legislation
A pricing strategy
A method of budgeting
Method to reduce future value of cash flows to reflect the risk
36
A consultative style of leadership is always the most effective style
Yes, always
It depends on factors such as, form of business or staff experience
No, never
Autocratic leader is always the best style
37
What is not a main model/theory for leadership
Tannenbaum Schmidt
Waylan's X/Y Theory
Boston Matrix
Pestle Analysis
38
Which of these is a factor that can Influence Business Objectives
Legislation
Risk and attitude to risk
State of the economy
Whether the CEO wears a designer suit or not
39
In a Business exam, for a 8-12 marker question you need to provide an introduction and conclusion
True
False
40
Correlation uses trends established from historical data to forecast the future
True
False
41
A good with a price elasticity of demand of -1.2 could be described as:
Price Bombastic
Price elastic
Price inelastic
Price senstive
42
The PE for PECAN PIE stands for
Point Eco-friendly
Point evaporated
Point evaluated
Point explained
43
Price elasticity of demand measures...
Buyers ability to pay based on income
Buyers knowledge of the product
Availability of substitutes
How sensitive consumers are to a change in price
44
A strength of a decision tree is that it encourages logical thinking
True
False
45
Just In Case may lead to
Higher productivity per hour
Higher inventory levels
Higher productivity per unit
Lower inventory levels
46
Gross profit margin = gross profit / ...........
revenue
cost of sales x 100
revenue x 100
cost of sales
47
To calculate a decision tree the probability always has to be a decimal point
True
False
48
Which of these is not a category of the Boston Matrix?
Dogs
Stars
Cash Cows
Exclamation Mark
49
Capacity utilisation is calculated using this formula
Actual level of output/Maximum possible output X 100
Actual level of output + Maximum possible output X 100
Actual level of output x Maximum possible output X 100
Maximum possible output/Actual level of output X 100
50
This is the calculation for staff turnover
I do not know
Trues, but depends on the length of time
True
False
51
This is how you calculate
Percentage change
Employee retention
Absenteeism
Labour Turnover
52
Factor that can cause a decreased share price
Competitor leaves the market
Change in Government
Increased profits
Negative publicity
53
In SWOT Analysis which of these are impacted by external factors
Strengths and weaknesses
Chas and Dave
Growth and maturity
Threats and Opportunities
54
Qualitative market research refers to things such as...
Sales figures
Selling prices
Profit margins
Consumers opinions
55
Contribution per Unit is..
Selling price per unit - variable costs per unit
Selling price per unit x variable costs per unit
Selling price per unit / variable costs per unit
Selling price per unit + variable costs per unit
56
In a 8-12 marker answer, how should you structure your analysis?
Point, explain, context, analysis
Provide a definition of the business concept and then explain
List as many points that you can think of
Provide a background narrative and then make your point
57
Which of these is a factor that can Influence Business Objectives
State of the economy
Risk and attitude to risk
Legislation
Whether the CEO wears a designer suit or not
58
What is phase 3 of the strategic drift model
Strategic drift
Transformational Change or Death
Flux
Incremental change
59
Breakeven occurs where contribution equals fixed costs
True
False
60
What is the formula for market capitalisation?
Share price / number of shares issued
Share price x number of shares issued
Share price - number of shares issued
Share price + number of shares issued
61
What is a problem of working at low capacity utilisation?
Capital tied up in under utilised assets
Production is rushed
Less time for quality control
Added workloads & stress
62
A factor that can cause a decreased share price
Increased profits
Negative publicity
Change in Government
Competitor leaves the market
63
Flexible prices for products or services based on current market demands. This is
Price Skimming
Dynamic Pricing
Penetration pricing
Perpendicular Pricing
64
Outsourcing non-essential functions could increase profits as it can help reduce costs
False
True
65
Network Analysis supports
The organisational structure of a business
Tall buildings
Projects that are complex and involve significant investment and risk
Overcoming resistance to change
66
A key Impact of E-commerce on HRM is:
Logistics are complex
Increased need for localisation
Greater use of multi-currency transactions
Need for employees to have a broader range of digital skills
67
Net Profit is..
Helpful in knowing the performance of the company in a financial year
Helpful in eliminating unnecessary operating expenses
Helpful in your analysis of finance conflagorations and muniscipances
Helpful in controlling excess costs
68
PESTLE Stands for ...
Political, Economic, Stakeholder, Technological, Legal and Environmental
Political, Economic, Social, Technological, Legal and Environmental
Police, Eggs, Sand, Tortoise, Liverpool and Ecclesiastical
Productivity, Economic, Social, Technological, Legal and Environmental
69
A decision tree takes into account qualitative factors
False
True
70
Regular, small improvements can lead to major improvements in performance over time. This is..
Cell Production
Kaizen
Simultaneous Engineering
Time-based Management
71
What statement is inaccurate about decision trees?
A scientific method of calculating Operating Profit
A mathematical model
Uses estimates and probabilities to calculate likely outcomes
Helps to decide whether the net gain from a decision is worthwhile
72
What is a float in Network Analysis?
Calculates the earliest start time
The longest path on the Network Analysis
Duration an activity can be extended and the project still finishes on time
It supports swimming
73
What is a function of objectives?
To outline the vision of the business
To increase investment from shareholders
A guidance for shareholders eyes only
Provides targets for individual and group achievement
74
Which of these is a financial motivation to work?
Job enlargement
Working environment
Commission
Job enrichment
75
Payables measures the average length of time taken by a business to pay amounts it owes. It is measured in...
Ice Ages
Weeks
Days
Percentage
76
The Corporate Objectives are very detailed
True
False
77
A 9-12 marker question requires an introduction
True
False
78
£1.99. This is
Predator Pricing
Psychological Pricing
Penetration Pricing
Dynamic Pricing
79
If the price elasticity is 1.8 and price of product Y increases by 2%, then _______.
The demand will remain unchanged.
The demand of product X will increase by 3.6%
The demand of product X will decrease by 3.6%.
demand will increase by 0.9%.
80
Tannenbaum and Schmidt Continuum of Leadership- A completely manager orientated leadership is
Joining
Selling
Telling
Consulting
81
What is a float in Network Analysis?
It supports swimming
The longest path on the Network Analysis
Duration an activity can be extended and the project still finishes on time
Calculates the earliest start time
82
What is the equation for variable costs? Think about it
Sales revenue minus total costs
Total costs minus fixed costs
Fixed costs plus sales revenue
Fixed costs plus total costs
83
The term extrapolation means:
A weak correlation.
A negative correlation.
Making predictions beyond the given points.
Making predictions within the given points.
84
What is the float time of activity F?
5
2
0
4
85
Where should we plot 'Lack of clear market positioning' in a SWOT analysis?
Threat
Strength
Weakness
Opportunity
86
The reward or return for taking risks & making investments is called
Profit
Victoria Cross
Sales
Revenues
87
How do you calculate the float time
LFT - Activity duration - EST
LFT - Activity duration - LFT
EST - EST - EST
LFT - LFT
88
An example of a fixed cost is..
Rent
Inventory superglued to the walls
Hourly wages
Raw materials
89
What is the correct answer? $234 - $63
171 units
171
$171
£171
90
Network Analysis is also known as..
Critical path analysis
Callous permeable analysis
Crucial passage analysis
Lewins Forcefield analysis
91
The "hook & bait” approach. This is
Price Skimming
Psychological Pricing
Penetration pricing
Dynamic Pricing
