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ESB Practice Exam With 100% Correct Answers 2024
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ESB Practice Exam With 100% Correct Answers 2024
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ESB Practice Exam With 100% CorrectAnswers 2024
T/F Trademark licensing is used for brand names, logos, or slogans - Correct Answer-
True
This segment describes the benefits to customers based on their wants or needs and
how they use the product - Correct Answer-Behavioral
T/F Trade secret licensing must be registered with the gov - Correct Answer-True
T/F The design thinking process places a high emphasis on developing customer
empathy - Correct Answer-True
T/F The design thinking process aims to develop solutions to problems - Correct
Answer-True
You want to buy a gift shop in a popular location within a large town. Which three
factors will help you determine if the business opportunity is viable? - Correct Answer--
Financing requirements
- Revenues and cost
- Market Size
T/F Affiliate sales programs offer commissions to companies who sell their products -
Correct Answer-True
Which two marketing platforms are examples of owned media - Correct Answer--
Websites
- Blogs
What does a CFO (chief financial officer) do? - Correct Answer-Creates budgets and
financial strategies
(CEO- chief executive officer, CIO-chief information officer, COO- chief operating
officer)
Which two services does direct distribution provide that fulfilment centers do not -
Correct Answer-- Product marketing
- Product manufacturing
T/F The design thinking process aims to develop a product based on the designer's
needs - Correct Answer-False
, T/F Fixed cost are expenses that have to be paid by the company, regardless of
changes in revenue - Correct Answer-True
T/F An S corp, is suitable for internal companies with at least 100 shareholders -
Correct Answer-Flase
T/F Variable cost depend on the increase or decrease in the amount or services a
product has sold - Correct Answer-True
T/F Value engineering changes the purpose of the product - Correct Answer-False
What is the fist step in forming a product/ market fit hypothesis - Correct Answer--
Determine who the target customer is
You need to invest in a business that has a simple transactions, low inventory cost, and
fast, free, product delivery - Correct Answer-A business that sells digital product
T/F A non profit org. is taxed - Correct Answer-False
T/F Copyright licensing is required for material in the public domain - Correct Answer-
False
You need to perform a SWOT analysis. What *internal* factors that affect your
business? - Correct Answer-- Strengths and Weaknesses
You need money for you start up company. You have a few potential ideas for you
business. You are seeking mentorship and are willing to give up some equity in your
company. Which type of funding should you seek? - Correct Answer-- Angel Investor
T/F Taking on business debt is a requirement for entrepreneurship - Correct Answer-
False
T/F A variable cost (ex: electric bill) is eventually paid off over time - Correct Answer-
False
This segment describes what customers think about and value and how they live their
lives - Correct Answer-- Psychographic
T/F A fixed cost has the same value each time it is incurred - Correct Answer-True
What is a risk of being an entrepreneur? - Correct Answer-- lack of financial resources
T/F The business owners personal credit score does not affect their ability to qualify for
a loan - Correct Answer-False
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