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Milady Cosmetology Comprehensive Written Exam Practice Questions and Answers UPDATED 2024
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  • Milady Cosmetology
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Owning - Becoming your own boss, you have 2 main options to consider; ____ your own salon and booth rental. Booth rental - A desirable working situation for practioners who are 70 percent booked all the time is ___ ___. Double - For booth rental, social security taxes are ___ that of an emplo...

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  • September 12, 2024
  • 119
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • milady cosmetology
  • milady cosmetology comprehensive written exam
  • milady cosmetology comprehensive written
  • milady cosmetology comprehensive

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Milady Cosmetology Comprehensive
Written Exam Practice Questions and
Answers UPDATED 2024


POSSIBLEA
MILADY
9/12/24

, Milady Cosmetology Comprehensive Written Exam Practice




Milady Cosmetology Comprehensive
Written Exam Practice Questions and
Answers UPDATED 2024
Owning - Becoming your own boss, you have 2 main options to consider; ____ your own
salon and booth rental.

Booth rental - A desirable working situation for practioners who are 70 percent
booked all the time is ___ ___.

Double - For booth rental, social security taxes are ___ that of an employee of the
salon.

Goal - A ___ is a benchmark that, once achieved, helps you realize your mission and
your vision.

Five to ten - On a business timeline, expansion of services and locations would take
place in ___ to ___ years.

Location - When planning to open a salon, one of the most important considerations is
___.

Primary - When opening a new business, the location selected should reflect your ____
clientele.

Easy access - When choosing a location for your business, you should select one that
has ___ ___.

Business - A written plan that describes a business and foresees projections for the
next 5 years is a ____ plan.

Financing - An important first step in seeking ___ to open a salon is develoing a
business plan.

Demographics - Information about a specific population, including age and income is
____.

Five years - When opening a salon, your business plan should include income and
expenses for up to ___ ___.



Milady Cosmetology Comprehensive Written Exam Practice

, Milady Cosmetology Comprehensive Written Exam Practice


Accountant - When preparing your business plan, it is helpful to consult an ___ to
prepare your financial documents.

Licenses - Prior to opening a business, contact local authorities regarding business
____.

OSHA - The federal agency that requires that the ingredients of cosmetic preparations
be available to employees is ____

Owner - Malpractice insurance is purchased by you, the ____.

Lawsuits - Insurance policies help protect salon owners against malpractice ____.

Salon policies - Clients and associates will be treated more fairly and consisently
through ____ ____.

Corporation - The three types of salon ownership are individual ownership,
partnerships, and ____.

Sole - A salon that is owned or operated by an individual is referred to a ___
proprietorship.

Profits - The sole proprietor assumes expenses, recieves ____, and bears all

Partnership - A business structure where two or more people share ownership is a
____.

Captial - Money to invest in a business is called ____.

Investment - One reason for entering into a partnership is to have more captial for
____.

Corporation - The type of ownership in which stockholdrs share profits is called ____.

Incorporating - One of the best ways for a business owner to protect personal assets
is by ____.

Stockholders - People or companies who purchase shares in a company are called
____.

One - The minimum number of stockholders allowed for a corporation to exist is ____.

Salary - A stockholder of a corporation is required to pay unemployment insurance
taxes on _____.



Milady Cosmetology Comprehensive Written Exam Practice

, Milady Cosmetology Comprehensive Written Exam Practice



Trade name - Franchise ownership means that, in exchange for a fee, you operate
under the franchiser's ____ ____.

Executive - The ____ summary is the part of the business plan that summarizes your
plan and states your objectives.

Vision - The ___ statment is a long term picture of what the business is to become and
what it will look like.

Organizational - The ____ plan outlines managment levels and describes how the
business will be run.

Marketing - The ___ plan outlines all research obtained regarding the clients your
business will target.

Financial - ____ documents include projected financial statements, actual statements,
and financial statement analysis.

Supporting - ____ documents include the owners resume, personal financial
information, legal contracts and agreements.

Policies - Salon ___ in the business plan ensure that all clients and employees are
treated fairly and consistently.

Identity - An agreement to buy an established salon should include _____ of the owner.

Lease - If you don't own the building in which your salon is located, you must have an
agreement between yourself and the building owner called a___.

Malpractice - If you operate your salon in a building you own, you need liability, ___ and
burglary insurance.

Record - Good business operations require a simple and efficient ___ system.

Correct - Business records are only of value if they are concise, ___, and complete.

Expenses - Proper bookkeeping methods include keeping an accurate record of all
income and ____.

Client Base - Customers who are loyal to a particular cosmetologist




Milady Cosmetology Comprehensive Written Exam Practice

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