Lesson 6 Exam
Question 1 2.5 / 2.5 points
The most notable SBA program available to small businesses is the:
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… The process that Katherine is going through is called market:
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.
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.
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:
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.
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.
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. …Amy is utilizing a technique referred to as:
a) networking.
b) reaching.
c) scrounging.
d) bootstrapping.
Question 9 2.5 / 2.5 points
A firm's marketing mix consists of:
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.
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 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.
a) conception
b) idea
c) formation
d) product
Question 13 2.5 / 2.5 points
Historically, commercial banks:
Question 14 2.5 / 2.5 points
________ are valuable because of their willingness to make relatively small investments.
a) Venture capital firms
b) Business angels
c) Institutional investors
d) Investment bankers
Question 15 2.5 / 2.5 points
Debt financing involves:
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:
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 18 2.5 / 2.5 points
A ________ illustrates a firm's positioning strategy relative to its major rivals.
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.
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.
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. …Second, a firm should determine if its intellectual property:
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):
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?
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 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.
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.
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 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.
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.
a) imitative
b) offshoot
c) derivative
d) subsequent
Question 30 2.5 / 2.5 points
Copyright law protects any work of authorship:
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.
a) copyright extension
b) utility
c) business technique
d) business method
Question 32 2.5 / 2.5 points
Copyright law is governed by the:
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):
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.
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 36 2.5 / 2.5 points
The sole entity responsible for granting patents in the United States is the:
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.
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 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 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?
a) Financial forecast
b) Product formula
c) A company's logo
d) Logs of sales calls
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