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Introduction to Small Business Management Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. Which of the following helps a small business compete with big business in the global market?

Question 2 2. What is the biggest advantage big business has over small business in the global marketplace?

Question 3 3. How does the global market work?

Question 4 4. What is outsourcing?

Question 5 5. Which of the following is true about a small business in the global marketplace?

Page 2

Question 6 6. What can you learn from market research?

Question 7 7. What is the Small Business Development Center?

Question 8 8. What is one of the most popular issues that potential entrepreneurs bring to the Small Business Development Center?

Question 9 9. What are some of the business consulting services provided by the SBDC?

Question 10 10. How many people seek the help of the Small Business Development Center every year?

Page 3

Question 11 11. What is the purpose of The Small Business Administration?

Question 12 12. When was The Small Business Administration officially created?

Question 13 13. Which of the following is NOT a resource of The Small Business Administration?

Question 14 14. Which resource of The Small Business Administration involves understanding labor laws?

Question 15 15. What was the initial purpose of The Reconstruction Finance Corporation?

Page 4

Question 16 16. What is the first step in starting a business?

Question 17 17. Why is it important to create a business plan?

Question 18 18. What are some marketing materials you might want to have before starting your business?

Question 19 19. What is the purpose of creating a team?

Question 20 20. When starting a new business, what does it mean to 'jump in'?

Page 5

Question 21 21. Tina, a new small business owner, has robust revenue that are paid six months after the sale. Her business plan does not have an exit strategy. Which of the following is a reason that her business may fail?

Question 22 22. In the United States, how is the size of a business defined?

Question 23 23. What is the typical way a small business is funded?

Question 24 24. What is the best explanation of a microenterprise?

Question 25 25. How many employees can manufacturing companies have and still be considered a small business in the United States?

Page 6

Question 26 26. Phase III of the Small Business Innovation Research program does what?

Question 27 27. Which phase of Small Business Innovation Research program does not give funds over $1,000,000 for a two-year span?

Question 28 28. Which program did the Small Business Innovation Research program derive from?

Question 29 29. What is the purpose of The Small Business Innovation Research program?

Question 30 30. Which of the following is NOT a requirement needed for Small Business Innovation Research program?

Introduction to Small Business Management Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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