Funeral Service & Small Business Management Comprehensive Exam

Question 1

Any cost not specifically associated with the production of identifiable products and service:

Answer 1

Overhead

Question 2

Each of the following is a qualitative criteria of a small business except:

• Actively managed by its owners
• Highly personalized
• Largely local in its area of operations
• 25-300 employees

Answer 2

25-300 employees

Question 3

Motivational in nature, usually stated in broad, general terms without reference to a time period:

Answer 3

Goals

Question 4

The motivational process includes each of the following listed except:

• Segregation of employee-firm interests
• Provide auxiliary conditions
• Understanding employee needs and wants
• Communicate with employees

Answer 4

Segregation of employee-firm interests

Question 5

What is an internal problem that may cause the failure of a small business?

Answer 5

Lack of expertise

Question 6

Which of the following is not an abbreviation related to the common business credit or sales terms?

• EOM
• COD
• CBD
• CFO
• MOM
• CWO

Answer 6

CFO

Question 7

The statistical study of human population with respect to their size and density, distribution, composition and income

Answer 7

Demographics

Question 8

The practice of trying to obtain something that is being sought by others under similar circumstances at the same time

Answer 8

Competition

Question 9

The process of planning and executing the development, pricing, promotion, and distribution of an organization’s goods and services

Answer 9

Marketing

Question 10

Wealth produced in or near a community that provides employment and income to the local population

Answer 10

Economic base

Question 11

A business owned and operated by one person:

Answer 11

Sole proprietorship

Question 12

Budgeting

Answer 12

Financial management

Question 13

Public relations

Answer 13

Marketing management

Question 14

Records of maintenance

Answer 14

Office management

Question 15

Use of references

Answer 15

Human resource management

Question 16

Telephone systems

Answer 16

Facilities management

Question 17

A business association made up of two or more persons who are co-owners of the business:

Answer 17

Partnership

Question 18

Any borrowed or loaned capital invested in a business that must be repaid to creditors is defined as:

Answer 18

Debt equity

Question 19

Do they supply a good service? Is it easy to make returns and exchanges? Are they a reliable source? are all:

Answer 19

Considerations concerning suppliers

Question 20

Funeral service management deals with which type of relationship:

Answer 20

Client-caregiver

Question 21

Handling notification of death, transfer of remains, preparation of remains are all:

Answer 21

Operational procedures specific to funeral service

Question 22

Rent, salaries, depreciation, and insurance are all examples of:

Answer 22

Fixed expenses

Question 23

A plane crash is which type of disaster:

Answer 23

Emergency

Question 24

A sudden misfortune, resulting in the loss of life and / or property:

Answer 24

Disaster

Question 25

Its primary prohibitions include outlaws discrimination in employment based on handicaps of workers who, with reasonable employer accommodation could do the job:

Answer 25

Rehabilitation Act of 1973

Question 26

The registered right of a creator to reproduce, publish, and sell work which is the product of the intelligence and skill of that person best defines:

Answer 26

Copyright

Question 27

Which of the following is not a responsibility of a manager?

• Create a viable and workable organization
• Develop employee participation
• Demonstrate effective leadership
• Over manage change

Answer 27

Over manage change

Question 28

Which of the following is not an objective of funeral service management:

• Fulfilling the needs of client-families which resulted from a death-related need
• Providing an unreasonable return on investment
• Capital improvement
• Meeting expenses

Answer 28

Providing an unreasonable return on investment

Question 29

Sales are increased, goodwill is built up, and a more personal relationship are all:

Answer 29

Advantages of credit

Question 30

A qualification that is absolutely necessary for a job which is an allowed and an approved reason for discrimination is referred to as the “BFOQ” (T/F)

Answer 30

True

Question 31

Private investors who are willing to supply financing for new and / or risky small venture start-ups are referred to as “Angels” (T/F)

Answer 31

True

Question 32

The purchasing, pricing, display and sale of merchandise

Answer 32

Merchandising

Question 33

The selling of goods to consumers

Answer 33

Retailing

Question 34

Offering and providing a service as opposed to a product

Answer 34

Service business

Question 35

One who organizes, manages, and assumes the risk of a business firm

Answer 35

Manager

Question 36

A business that makes finished goods from raw materials by hand or machinery

Answer 36

Manufacturing

Question 37

To guide and / or supervise the activities of an organization

Answer 37

• Directing

* Actuating

Question 38

Planning, organizing, directing, and evaluating are all:

Answer 38

Functions of management as related to funeral service practice

Question 39

Which of the following is not an obligation of the funeral service manager in relation to a community education program:

Answer 39

Family crisis

Question 40

A disadvantage of extending credit would include some losses from bad debts and customers with fraudulent intentions (T/F)

Answer 40

True