CEPA Course Questions and Answers
Graded A+
What are the key components of a business plan?
a. Marketing strategy, sales forecast, and legal requirements
b. Production costs, staffing requirements, and facility layout
c. Executive summary, market analysis, organization structure, and finan...
CEPA Course Questions and Answers
Graded A+
What are the key components of a business plan?
a. Marketing strategy, sales forecast, and legal requirements
b. Production costs, staffing requirements, and facility layout
✔✔c. Executive summary, market analysis, organization structure, and financial projections
d. Customer feedback, advertising campaigns, and employee training
How does supply and demand affect pricing strategies?
a. Supply affects pricing, while demand has no impact
✔✔b. High demand with low supply increases prices
c. High supply with low demand increases prices
d. Prices remain constant regardless of supply and demand
What is the purpose of market segmentation?
a. To create a single marketing message for all consumers
✔✔b. To identify specific consumer groups with similar needs
c. To eliminate competition
1
,d. To reduce production costs
What does a SWOT analysis help a business determine?
✔✔a. Internal strengths and weaknesses, as well as external opportunities and threats
b. Only external factors affecting the market
c. The financial health of the business only
d. The production capacity of the company
What is the primary difference between a sole proprietorship and a corporation?
a. Corporations have more employees than sole proprietorships
b. Sole proprietorships are larger than corporations
✔✔c. Sole proprietorships have unlimited liability, while corporations provide limited liability
d. Corporations cannot be owned by individuals
How can financial ratios be used in business?
✔✔a. To evaluate financial health and performance
b. To determine employee satisfaction
c. To calculate marketing effectiveness
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,d. To assess product design
What does corporate social responsibility (CSR) entail?
✔✔a. Ethical behavior, social equity, and environmental sustainability
b. Reducing operational costs at all expenses
c. Maximizing profits without concern for ethics
d. Increasing shareholder dividends only
What impact has digital marketing had on consumer behavior?
a. Decreased consumer engagement
b. Reduced importance of brand loyalty
✔✔c. Increased access to information and personalized marketing
d. Eliminated traditional advertising methods
Why is market research crucial before launching a new product?
a. To increase production costs
b. To gather employee opinions
✔✔c. To understand customer needs and market potential
3
, d. To focus solely on competition analysis
How does understanding consumer behavior benefit product development?
a. It limits product options
✔✔b. It ensures products meet customer needs and preferences
c. It complicates the marketing strategy
d. It has no impact on product success
What survey indicated that 99% of business owners at least in some way agreed that "having a
transition strategy is important for my future and the future of my business?" ✔✔State of Owner
Readiness
It's important to not just tell an owner the right answer, but to ask them the right question. Which
is an example of the "right question" to ask a business owner client? ✔✔a. What is the strength
of your intangible capital?
b. What is your biggest pain point and biggest desire?
c. What deal structure are you looking for when selling?
d. All the above (correct)
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