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Certiport Business Study Guide Questions with Correct Answers
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Certiport Business Study Guide Questions with Correct Answers
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Certiport Business Study Guide Questions withCorrect Answers
Setting up a business with the aim to make a profit Correct Answer-
What is Entrepreneurship?
Purchasing requiring a tax exemption certificate and wholesale floor
distributor. Correct Answer-Which is B2B?
Chain of local grocery stores and motorcycle repair shop. Correct
Answer-Which is B2C?
S-Cooperation Correct Answer-You need to create a legal structure for
your small business. You would like some of the benefits enjoyed by
large corporations, but do not want to be taxed twice. You have four
partners who will be shareholders. None of you plan to sell your
ownership shares to the public, but do want to be protected from
business liabilities.
Which legal structure should you set up for your business?
TRUE Correct Answer-TRUE OR FALSE
Founders own equity and a partner owns equity
FALSE Correct Answer-TRUE OR FALSE
All stakeholder owns equity and contractors own equity
,Piece Work Correct Answer-An example of BLANK compensation is
paying field laborers for the amount of fruit they pick.
Salary Correct Answer-A BLANK employee receives a set amount of
pay each month without overtime compensation for extra hours worked
Commission Correct Answer-An employee who is paid a percentage of
a sale is paid by BLANK
Existence, Survival of the Fittest, Success, Take-off, and Maturity
Correct Answer-What is the business life cycle?
Empathize Correct Answer-Research your users' needs
Define Correct Answer-State your users' needs and problems
Ideate Correct Answer-Challenge assumptions and create ideas
Prototype Correct Answer-Create Solutions
Test Correct Answer-Try your solutions
, Responsible, Adaptable, and Tenacious Correct Answer-Successful
entrepreneurs have mindsets that typically possess which three
characteristics?
Schedule control Correct Answer-Which is one of the greatest benefits
of being an entrepreneur?
Service, Price, and Quality Correct Answer-Which three characteristics
help identify a business opportunity?
Ask the customers in the area if they are interested in adding a water
feature to their gardens. Correct Answer-The owner of a landscaping
business has noticed that none of his competitors are including ponds or
other water features in the gardens they create. The landscaper wants to
determine the viability of this business opportunity.
What should this entrepreneurship do FIRST before offering to design
and build water features as part of his landscaping business?
Lean Canvas and Pitch Deck Correct Answer-Which two documents
summarize the business plan of a company?
TRUE Correct Answer-TRUE OR FALSE
A pitch deck is a visual slide presentation.
TRUE Correct Answer-TRUE OR FALSE
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