ESB Certification Exam Study Guide
Exam Questions with Correct Verified
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1. A pitch deck is most commonly presented in the form of a ____
presentation - ANS ✔slide
2. A ____ provides a brief overview of a business where one talks
about the company's mission and the value provided to
customers - ANS ✔vision and value proposition
3. A patent protects an ____ from being copied - ANS ✔invention
4. Trade secrets protect a company's formulas from being shared
with ____ - ANS ✔competitors
5. To license a product, one must obtain ____ from the author or
creator - ANS ✔authorization
6. Confidentiality or ____ agreements are signed by employees,
agreeing not to share trade secrets - ANS ✔non-disclosure
7. Name a characteristic of a successful entrepreneur and explain
why that skill would be helpful when starting a business - ANS
✔a large variety of characteristics because entrepreneurs recognize
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opportunities and tolerate risks so they have growth mindsets and
use critical thinking to overcome obstacles, they also collaborate with
others to solve problems; these characteristics help entrepreneurs be
successful
8. Name one example of a political risk that an entrepreneur might
face - ANS ✔increased tax rates or large tariffs
9. Name one example of an environmental risk that an
entrepreneur might face - ANS ✔natural disasters, poor food
supplies, or inflation
10. Name one example of a financial risk that an entrepreneur
might face - ANS ✔bankruptcy or no promise of income
11. Which business opportunity involves recruiting marketers
to join a team? - ANS ✔Network marketing
12. Which business opportunity involves higher start-up
costs? - ANS ✔Franchise
13. Which business opportunity obtains licenses to use a
brand name? - ANS ✔Licensing
14. Which viability factor involves the potential funding of a
business opportunity? - ANS ✔Managing cash flow
15. Which viability factor involves building relationships with
experienced professionals? - ANS ✔Relationships
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16. Which viability factor can help an entrepreneur make up
for a lack of skills? - ANS ✔Passion
17. Which viability factor analyzes the skills of employees? -
ANS ✔Management skillset
18. Which viability factor researches the demand for products
or services? - ANS ✔Market size
19. What is the purpose of a pitch deck? - ANS ✔attracting
investors, getting them excited, and getting another meeting with
them
20. What is the purpose of a lean canvas? - ANS ✔allowing
feedback from others and brainstorming ideas
21. Which section of a business plan determines if there is a
large enough customer pool? - ANS ✔Marketing plan
22. Which section of a business plan briefly explains
everything in the business plan? - ANS ✔Executive summary
23. Which section of a business plan includes roles that have
not yet been filled? - ANS ✔Organizational structure
24. Which section of a business plan includes things like a
budget and profit and loss projection? - ANS ✔Financial plan
ESB Certification Exam Study Guide
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