BZ450 Lesson 6 & 7 Exam SCORE 100 PERCENT

Lesson 6 Exam

 

Question 1

2.5 / 2.5 points

The most notable SBA program available to small businesses is the:

Question options:

a) 

SBA 1060 Guaranty.

b) 

Code 604 Guaranty Program.

c) 

7(A) Loan Guaranty Program.

d) 

SBA 101 Program.

Question 2

2.5 / 2.5 points

Katherine Ford is thinking about starting a computer company. After doing some research, she has decided that the computer industry can be divided into the following product categories - handheld computers, laptops, tablet computers, PCs, work stations, minicomputers, mainframes, and super computers. She is now trying to decide which product category she is the most interested in competing in. The process that Katherine is going through is called market:

Question options:

a) 

splitting.

b) 

subdividing.

c) 

segmentation.

d) 

dividing.

Question 3

2.5 / 2.5 points

When Red Bull was first being introduced into the United States, the company would hand out free samples of its product at extreme sports events (e.g., skateboarding, wakeboarding, and mountain biking competitions). Red Bull's objective was to create ________ surrounding its product.

Question options:

a) 

buzz

b) 

noise

c) 

clatter

d) 

clamor

Question 4

2.5 / 2.5 points

The ________ Program is a competitive grant program that provides over $2.5 billion per year to small businesses for early-state and development projects.

Question options:

a) 

SBTA

b) 

SBIR

c) 

SBAP

d) 

SAIR

Question 5

2.5 / 2.5 points

Some companies monitor the integrity of their brands through a program of brand:

Question options:

a) 

administration.

b) 

persistence.

c) 

determination.

d) 

management.

Question 6

2.5 / 2.5 points

Kyle White owns a sporting goods store that appeals to hunters and fishermen. The market that Kyle is trying to appeal to is called his ________ market.

Question options:

a) 

focal

b) 

objective

c) 

target

d) 

critical

Question 7

2.5 / 2.5 points

________ is a term that denotes the set of assets and liabilities that are linked to a brand and enable it to raise a firm's valuation.

Question options:

a) 

Trademark equity

b) 

Brand equity

c) 

Logo equity

d) 

Trademark value-added

Question 8

2.5 / 2.5 points

Amy Clark just opened a soup and salad restaurant near Golden Gate Park in San Francisco, CA. Rather than borrow money or raise funds from investors, Amy used her creativity and ingenuity and figured out how to get her business up and running without the need for external funding. Amy is utilizing a technique referred to as:

Question options:

a) 

networking.

b) 

reaching.

c) 

scrounging.

d) 

bootstrapping.

Question 9

2.5 / 2.5 points

A firm's marketing mix consists of:

Question options:

a) 

product, price, promotion, and place.

b) 

passion, pride, promotion, and place.

c) 

passion, pleasure, product, and price.

d) 

enthusiasm, passion, product, and price.

Question 10

2.5 / 2.5 points

________ are individuals who invest their personal capital directly in start-ups.

Question options:

a) 

Venture capitals

b) 

Business angels

c) 

Institutional investors

d) 

Investment bankers

Question 11

2.5 / 2.5 points

Which of the following statements is NOT correct regarding business angels?

Question options:

a) 

Business angels invest in more startups on a yearly basis than venture capitalists.

b) 

The number of angel investors has decreased dramatically over the past decade.

c) 

Business angels usually take a seat on the board of directors of the firms in which they invest.

d) 

Business angels are valuable because of their willingness to make relatively small investments.

Question 12

2.5 / 2.5 points

A firm's ________, in the context of its marketing mix, is the good or service it offers to its target market.

Question options:

a) 

conception

b) 

idea

c) 

formation

d) 

product

Question 13

2.5 / 2.5 points

Historically, commercial banks:

Question options:

a) 

have been a good source of funds for startup firms.

b) 

have not funded startup firms at all.

c) 

have been a good source of funds for manufacturing firm startups but not for service firm startups.

d) 

have not been a good source of funds for startup firms.

Question 14

2.5 / 2.5 points

________ are valuable because of their willingness to make relatively small investments.

Question options:

a) 

Venture capital firms

b) 

Business angels

c) 

Institutional investors

d) 

Investment bankers

Question 15

2.5 / 2.5 points

Debt financing involves:

Question options:

a) 

raising venture capital or securing a private placement.

b) 

selling corporate bonds or selling stock via an IPO.

c) 

getting a grant or selling corporate bonds.

d) 

getting a loan or selling corporate bonds.

Question 16

2.5 / 2.5 points

The first step in selecting a target market is to study the industry in which the firm intends to compete and determine the different potential target markets in that industry. This process is called market:

Question options:

a) 

positioning.

b) 

splitting.

c) 

targeting.

d) 

segmentation.

Question 17

2.5 / 2.5 points

Which of the following statements is INCORRECT regarding the process of building a company's brand, particularly for young firms?

Question options:

a) 

A firm's name, logo, website design, and even its letterhead are part of its brand.

b) 

One of the keys to effective branding is to create a strong personality for a firm.

c) 

Some companies monitor the integrity of their brands through brand management.

d) 

Most experts recommend a heavy reliance on advertising in building a firm's brand.

Question 18

2.5 / 2.5 points

A ________ illustrates a firm's positioning strategy relative to its major rivals.

Question options:

a) 

product attribute map

b) 

positioning analysis grid

c) 

positioning plot

d) 

competitive analysis grid

Question 19

2.5 / 2.5 points

A(n) ________ is a written agreement in which the owner of a piece of property allows an individual or business to use the property for a specified period of time in exchange for payments.

Question options:

a) 

assurance

b) 

loan

c) 

guarantee

d) 

lease

Question 20

2.5 / 2.5 points

________ is a financial transaction whereby a business sells its accounts receivable to a third party at a discount in exchange for cash.

Question options:

a) 

Factoring

b) 

Vendor credit

c) 

Peer-to-peer lending

d) 

Crowdfunding

Lesson 7 Exam

 

Question 21

2.5 / 2.5 points

There are two primary rules of thumb for deciding if intellectual property protection should be pursued for a particular intellectual asset. First, a firm should determine if the intellectual property has value in the marketplace. Second, a firm should determine if its intellectual property:

Question options:

a) 

is directly related to its competitive advantage.

b) 

could be licensed to another company.

c) 

is more than three years old.

d) 

is something that was developed "in-house."

Question 22

2.5 / 2.5 points

A form of intellectual property protection that grants to the owner of a work of authorship the legal right to determine how the work is used and to obtain the economic benefits from the work is referred to as a(n):

Question options:

a) 

assurance document.

b) 

patent.

c) 

trade secret.

d) 

copyright.

Question 23

2.5 / 2.5 points

Which of the following statements about copyrights is INCORRECT?

Question options:

a) 

Businesses typically possess a treasure trove of copyrightable material.

b) 

A musical composition that is written down is copyrightable.

c) 

Copyrightable material may be in tangible or intangible form.

d) 

The 1976 Copyright Act governs copyright law in the United States.

Question 24

2.5 / 2.5 points

The main exclusion from copyright laws is that copyright laws cannot protect:

Question options:

a) 

ideas.

b) 

dramatic works.

c) 

computer software.

d) 

musical compositions.

Question 25

2.5 / 2.5 points

________ marks are trademarks or service marks used by the members of a cooperative, association, or other collective group, including marks indicating membership in a union or similar organization.

Question options:

a) 

Collective

b) 

Share

c) 

Examination

d) 

Joint

Question 26

2.5 / 2.5 points

________ patents are the second most common type of patent and cover the invention of new, original, and ornamental designs for manufactured products.

Question options:

a) 

Aesthetic

b) 

Utility

c) 

Visual

d) 

Design

Question 27

2.5 / 2.5 points

Which of the following selections correctly identifies the three types of patents?

Question options:

a) 

Manufacturing; process; plant

b) 

Usefulness; purpose; genetic

c) 

Explicit; implicit; plant

d) 

Utility; design; plant

Question 28

2.5 / 2.5 points

A ________ is any formula, pattern, physical device, idea, process, or other information that provides the owner of the information with a competitive advantage in the marketplace.

Question options:

a) 

patent

b) 

copyright

c) 

trademark

d) 

trade secret

Question 29

2.5 / 2.5 points

If a local band wrote their own rendition of a Katy Perry song, the band could try to copyright their rendition of the song as a(n) ________ work.

Question options:

a) 

imitative

b) 

offshoot

c) 

derivative

d) 

subsequent

Question 30

2.5 / 2.5 points

Copyright law protects any work of authorship:

Question options:

a) 

90 days after it is approved by the U.S. Copyright Office.

b) 

one year after it assumes a tangible form.

c) 

the moment it assumes a tangible form.

d) 

as soon as it is approved by the U.S. Copyright Office.

Question 31

2.5 / 2.5 points

Amazon.com's one-click ordering system and Priceline.com's "name-your-price" business model are examples of ________ patents.

Question options:

a) 

copyright extension

b) 

utility

c) 

business technique

d) 

business method

Question 32

2.5 / 2.5 points

Copyright law is governed by the:

Question options:

a) 

U.S. Constitution.

b) 

1946 Intellectual Property Act.

c) 

1966 Trademark and Copyright Act.

d) 

Copyright Revision Act of 1976.

Question 33

2.5 / 2.5 points

A grant from the federal government conferring the rights to exclude others from making, selling, or using an invention for a specific period of time is referred to as a(n):

Question options:

a) 

trademark.

b) 

patent.

c) 

idea secret.

d) 

innovation.

Question 34

2.5 / 2.5 points

________ marks are similar to ordinary trademarks, but they are used to identify the services or intangible activities of a business rather than a business's physical product.

Question options:

a) 

Creative

b) 

Intangible

c) 

Examination

d) 

Service

Question 35

2.5 / 2.5 points

Copyright ________ occurs when one work derives from another or is an exact copy or shows substantial similarity to the original work.

Question options:

a) 

infringement

b) 

violation

c) 

intrusion

d) 

breach

Question 36

2.5 / 2.5 points

The sole entity responsible for granting patents in the United States is the:

Question options:

a) 

U.S. Patent and Trademark Office.

b) 

Federal Patent, Copyright and Trademark Office.

c) 

Securities and Exchange Commission.

d) 

U.S. Department of Patents.

Question 37

2.5 / 2.5 points

While not one of the four key forms of intellectual property, __________ are an important form of intellectual property.

Question options:

a) 

Innovations

b) 

Internet domain names

c) 

Intellectual assets

d) 

Trade secrets

Question 38

2.5 / 2.5 points

The federal Economic Espionage Act, passed in 1996, criminalizes:

Question options:

a) 

copyright infringement.

b) 

utility patent violations.

c) 

trademark violations.

d) 

the theft of trade secrets.

Question 39

2.5 / 2.5 points

There are three basic requirements for a patent to be granted. The subject of the patent application must be:

Question options:

a) 

useful, difficult to copy, and novel in relation to prior arts in the field.

b) 

based on cutting edge science or technology, not obvious to a person of ordinary skill in the field, and rare.

c) 

useful, novel in relation to prior arts in the field, and not obvious to a person of ordinary skill in the field.

d) 

rare, difficult to copy, and not obvious to a person of ordinary skill in the field.

Question 40

2.5 / 2.5 points

Which of the following items would typically be protected by a form of intellectual property protection other than trade secret statutes?

Question options:

a) 

Financial forecast

b) 

Product formula

c) 

A company's logo

d) 

Logs of sales calls