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ETS MFT BUSINESS EXAM LATEST EXAM | ALL
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What is the measure that indicates how precise a prediction of Y is based on X or, conversely, how inaccurate the prediction might be? a) Regression equation b) Slope of the line c) Standard error of estimate d) Least squares principle ------CORRECT ANSWER---------------C An example of an unfair trade practice is: a) EU Government policy prohibiting imports of U.S. Beef b) EU prohibitions of Latin American bananas c) US tariffs on European steel d) All of the above ------CORRECT ANSWER---------------D The channels of distribution create all of the following utilities EXCEPT a) time b) place c) form
d) possession ------CORRECT ANSWER---------------C Routine physical examinations are conducted annually as part of a health service program for the employees. It was discovered that 8% of the employees needed corrective shoes, 15% needed major dental work and 3% needed both corrective shoes and major dental work. What is the probability that an employee selected at random will need either corrective shoes or major dental work? a) 0. b) 0. c) 0. d) 1. e) None of the above ------CORRECT ANSWER---------------A Sessler Manufacturers made two announcements concerning its common stock today. First, the company announced that the next annual dividend will be $1.75 a share. Secondly, all dividends after that will decrease by 1. percent annually. What is the maximum amount you should pay to purchase a share of this stock today if you require a 14 percent rate of return? a) $11. b) $12. c) $13. d) $14. e) $14.21 ------CORRECT ANSWER---------------A
There are 10 rolls of film in a box and 3 are defective. Two rolls are to be selected without replacement. What is the probability of selecting a defective roll followed by another defective roll? a) 1/2, or 0. b) 1/4, or 0. c) 1/120, or about 0. d) 1/15, or about 0. 07 ------CORRECT ANSWER---------------D The process of collecting information about the external marketing environment is called: a) environmental management b) marketing research c) marketing management d) environmental scanning ------CORRECT ANSWER---------------D Which Foreign Direct Investment (FDI) attempts to acquire particular resources at a lower real cost than could be obtained in the home country? a) Market-seeking FDI b) Efficiency-seeking FDI c) Resource-seeking FDI d) Strategic asset-seeking FDI ------CORRECT ANSWER---------------C
____ planning normally is performed by middle managers and typically has a one-year time frame a) Strategic planning b) Tactical planning c) Operational planning d) Contingency planning ------CORRECT ANSWER---------------B The two international treaties that govern patent protection are a) Paris Convention and Patent Cooperation Treaty b) International Patent Patrol and Patent Treaty c) Patent Protection Treaty and International Patent Patrol d) Patent Protection Treaty and Patent Cooperation Treaty ------CORRECT ANSWER---------------A In a large firm, the pool of applicants for the positions of sales manager and sales associate consists of three men and three women. If each candidate has an equal chance of being selected, what is the probability that both positions will be filled by men? a) 0. b) 0. c) 0. d) 0.50 ------CORRECT ANSWER---------------A
b) postponement c) collaborative replenishment d) direct-response delivery ------CORRECT ANSWER---------------A A nuclear power plant uses electronic sensors linked to computers to continually monitor processes and make instant (real-time) adjustments that control the power generation process. This is an example of a(n): a) Transaction processing system b) Decision support system c) Enterprise collaboration system d) Process control system ------CORRECT ANSWER---------------D Within the context of the capital asset pricing model (CAPM), the risk measure known as beta is often computed by regressing the return of the company's stock against the a) return on the company's bonds b) return on the market portfolio c) change in the gross domestic product d) change in the consumer price index ------CORRECT ANSWER------------- --B A department manager telephoned two managers in other departments to discuss a cost savings idea that would benefit their departments as well as
her own. Which of the following most accurately defines the communication channel that the manager was using? a) Upward b) Lateral c) Downward d) Hierarchical. ------CORRECT ANSWER---------------B Information systems are either operations or management systems. Which one of the following would NOT be classified as an operations system? a) Transaction processing systems b) Process control systems c) Functional information systems d) Executive support systems ------CORRECT ANSWER---------------D Which terms would make the following sentence true? Manufacturing companies that benefit the most from activity-based costing are those where overhead costs are a _________ percentage of total product cost and where there is ___________ diversity among the various products that they produce. a) low, little b) low, considerable c) high, little d) high, considerable ------CORRECT ANSWER---------------D
c) High effectiveness/low efficiency d) High effectiveness/high efficiency e) None of the above ------CORRECT ANSWER---------------A In the late 1970's and 1980's, the U.S. car manufactures sought to limit ________ import to the U.S.? a) Cuban b) Asian c) Japanese d) Chinese ------CORRECT ANSWER---------------C The principal difference between variable costing and absorption costing centers on: a) whether variable manufacturing costs should be included as product costs b) whether fixed manufacturing costs should be included as product costs c) whether fixed manufacturing costs and fixed selling and administrative costs should be included as product costs d) none of these. ------CORRECT ANSWER---------------B General Bikes is debating which marketing research options to employ. The traditional person-to-person methods have been effective; however,
the new director of market research is campaigning for online-based research. What argument for this method might he/she use? a) Consumers are more relaxed at home in front of their computers, therefore it is more likely the responses will be truthful b) Online research has been standardized for each industry, making it easier to understand them c) A well-designed, Internet-based marketing research project can cost less and yield information faster than offline research d) Person-to-person methods most often incorporate researcher bias into the surveys and observations ------CORRECT ANSWER---------------C Which of the following is an appropriate Federal Reserve action to stimulate the United States economy? a) Selling government bonds on the open market b) Increasing the discount rate c) Reducing the reserve requirement d) Cutting taxes ------CORRECT ANSWER---------------C A small number of people with complementary skills who are committed to a common purpose, a set of performance goals, and an approach for which they hold themselves mutually accountable is referred to as a a) committee b) task force c) group
b) Owner's equity statement c) Balance sheet d) Statement of cash flows ------CORRECT ANSWER---------------C By assembling computers only after customers have paid them for, resulting in a lower finished goods inventory, Dell Computer Co. achieved: a) Increased quality b) A competitive advantage c) Increased responsiveness d) Increased innovation e) None of the above ------CORRECT ANSWER---------------B The Bill of Rights refers to: a) the inalienable rights found at the beginning of the Constitution b) the first ten amendments to the Constitution c) a specific listing of individual rights found in the original text of the Constitution. d) a grouping of individual rights set forth by the United States Supreme Court shortly after the Constitution was ratified by the states ------ CORRECT ANSWER---------------B
Fiedler proposes that all of the following determine whether a task- or relationship-oriented style is more effective except: a) Situational favorableness b) Leader-member relations c) Task structure d) Position power ------CORRECT ANSWER---------------A Which one of the following statements is correct given the following exchange rates? US $ per 1 foreign unit Country FRI THU South Africa 0.1028 0. Thailand 0.0284 0. a) On Thursday, one U.S. dollar was equal to 0.1023 South African rand. b) On Friday, one Thai baht was equal to $35.21. c) Both the South African rand and the Thai baht appreciated against the U.S. dollar from Thursday to Friday. d) The South African rand appreciated from Thursday to Friday against the U.S. dollar. e) The U.S. dollar depreciated from Thursday to Friday against the Thai baht. ------CORRECT ANSWER---------------D Family branding refers to a group of a) similar brands of products from different makers
A major competitor of XYZ, Inc. suddenly creates a new type of product that makes XYZ's products obsolete. This is an example of which type of force in the environment? a) General environment b) Task environment c) Economic environment d) Legal environment e) Political environment ------CORRECT ANSWER---------------B Which of the following is not one of the four primary functional areas of a firm? a) human resources b) legal c) marketing d) operations ------CORRECT ANSWER---------------B When employees use email, word processors, electronic scheduling / calendars, they are using which of the following? a) Transaction processing systems b) Process control systems c) Office automation systems d) Decision support systems ------CORRECT ANSWER---------------C
Which of the following statements about a systems flowchart is true? a) It is used in systems design to define and describe each piece of data. b) It is a method of writing programs using only three basic constructs: sequence, selection, and repetition. c) It documents the sequence of processing steps that take place in an information system. d) It documents the logical design of an information system. ------ CORRECT ANSWER---------------C The primary purpose of the statement of cash flows is to report a) A company's investing transactions b) A company's financing transactions c) Information about cash receipts and cash payments of a company d) The net increase or decrease in cash ------CORRECT ANSWER----------- ----C In service blueprinting, which line separates front office activities from back office activities? a) Line of visibility b) Line of intervention c) Line of influence
Which of the following is not part of the accounting process? a) Recording b) Identifying c) Financial decision making d) Communicating ------CORRECT ANSWER---------------C What is the median of 26, 30, 24, 32, 32, 31, 27 and 29? a) 32 b) 29 c) 30 d) 29. e) 30.5 ------CORRECT ANSWER---------------D Under the common law, the ____ must be the mirror image of the ____ a) contract, consideration. b) contract, offer c) offer, acceptance d) acceptance, offer ------CORRECT ANSWER---------------D
Sue and Neal are twins. Sue invests $5,000 at 7 percent when she is 25 years old. Neal invests $5,000 at 7 percent when he is 30 years old. Both investments compound interest annually. Both Sue and Neal retire at age
- Which one of the following statements is correct assuming that neither Sue nor Neal has withdrawn any money from their accounts? a) Sue will have less money when she retires than Neal. b) Neal will earn more interest on interest than Sue. c) Neal will earn more compound interest than Sue. d) If both Sue and Neal wait to age 70 to retire, then they will have equal amounts of savings. e) Sue will have more money than Neal as long as they retire at the same time ------CORRECT ANSWER---------------E In general, the __________ difficult it is for an organization to enter an industry as a new competitor, the __________ are the barriers to entry to this industry a) Less; lower b) More; lower c) More; higher d) Less; higher ------CORRECT ANSWER---------------C An open access good (or common property good), such as a fishery: a) Is rival but not excludable b) Is both rival and excludable
