LPC Prep Questions - Course 3 Questions and Answers
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Lpc
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Lpc
LPC Prep Questions - Course 3 Questions and Answers
Following a store visit that involved an audit of Loss Prevention operations at the location, a District Loss Prevention Manager creates a simple list of all of the tasks that need to be completed within the facility in order to bring the store i...
LPC Prep Questions - Course 3
Questions and Answers
Following a store visit that involved an audit of Loss Prevention operations at the
location, a District Loss Prevention Manager creates a simple list of all of the tasks that
need to be completed within the facility in order to bring the store into compliance. The
DLPM then reviews the list with the Store Manager, discussing the steps that need to be
carried out in order to achieve the necessary results. This type of list is commonly
known as:
• A Goals Checklist
• A Focal Message
• A Priority Log
• An Action Plan - answer An Action Plan
When developing the Loss Prevention department budget, a Loss Prevention Director
must plan for security expenses associated with an event marking the 75th anniversary
of the company, which will be held in the second quarter of the current year. This type of
one-time expense allocated for a specific reason is known as a:
As a Loss Prevention Director is putting together a departmental plan to combat shrink
throughout the company, she assigns her Regional Loss Prevention Managers the task
of identifying store locations that for any number of reasons are generally considered to
have higher potential and be more prone to theft, robberies, and/or other types of crime.
These stores are generally referred to as:
• High Shrink Stores
• High Risk Stores
• Spotlight Stores
• Focus Stores - answer High Risk Stores
Upon reviewing an Action Plan with the Store Manager, a Regional Loss Prevention
Manager identifies a stand-alone task that is not related to an ongoing activity, but
rather must be taken to resolve an issue found in the store. This type of task necessary
to complete the Action Plan is known as:
• A One Time Open Item
• An Open Action Agenda
,• An Ongoing Priority Claim
• An Active Priority Point - answer A One Time Open Item
Following a company inventory cycle that showed a significant increase in shrink
results, a Loss Prevention Director determines that a Loss Prevention initiative is
needed that will focus attention and engage the greatest number of people possible to
better address shrinkage reduction and profit enhancement. This program will need to
encourage participation and communicate the Loss Prevention message at all levels of
the organization. To reach this objective, the LP Director should implement:
• An Audit Program
• An Awareness Program
• A Shrink Mandate
• A Mission Statement - answer An Awareness Program
As a critical aspect of putting together a new Loss Prevention program for the company,
a Loss Prevention Director needs to construct a document that provides a graphic
representation of the new Loss Prevention organization; clearly defining the necessary
roles at each level of the department. This document must further identify the various
position titles and areas of responsibility, as well as potential career paths that will be
available as team members progress. What type of document does the Director need to
construct?
• An Action Plan
• An Organizational Chart
• A Goals Checklist
• A Job Description - answer An Organizational Chart
When constructing an effective Loss Prevention Awareness Program, our objective is to
modify employee behavior and encourage them to become more involved. We want to
give employees some control in the development and/or implementation of these
programs, and take responsibility for seeing that the program is both followed and
successful. This important concept is known as:
Upon taking on the responsibilities of leading a new department, a Loss Prevention
Director decides to put together a document that accurately communicates how Loss
Prevention will operate, and how those responsibilities will support company objectives.
The document was drafted in order to give everyone a clear understanding and
expectation of the Loss Prevention function and goals. This simple, clear declaration of
that role and fundamental purpose is commonly known as a:
, • Status Report
• P & L Statement
• Mission Statement
• Corporate Initiative - answer Mission Statement
Following a company inventory cycle that showed a significant increase in shrink
results, a Loss Prevention Director determines that a Loss Prevention initiative is
needed that will specifically focus additional attention and support for those stores that
are identified as being problematic. The objective of this strategy is to concentrate
efforts and resources where we can have the greatest impact on the business. What
type of initiative will effectively help achieve this objective?
• Target Store Program
• Action Plans
• Open-Ended Items
• Mission Statement - answer Target Store Program
In very general terms, Target Store Programs are typically based upon the "80/20 Rule".
What is the "80/20 Rule"?
• 20% of the company's shrink problems will typically account for 80% of our total LP
resources
• 20% of the company's locations will typically account for 80% of the company's shrink
problems.
• For every $20 that we spend on our shrink programs, we are able to save $80 in
company resources.
• Within 20 feet of the front door, 80% of shoplifting losses occur. - answer 20% of
the company's locations will typically account for 80% of the company's shrink
problems.
After completing a legitimate customer sale, the sales associate keeps the customer's
original sales receipt. Later, the employee creates a false refund by using the legitimate
receipt information without returning the product, completes the transaction and takes
the cash. What type of crime have they committed?
Upon investigating an incident that involved seven missing leather jackets, the loss
prevention investigator learns that the jackets were never stolen or actually missing as
originally believed, and the shortage was due to a miscount during the most recent
physical inventory. Physical counts were then corrected, and procedures were
established to avoid similar incidents moving forward. Would this be considered a
successful investigation?
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