Question 1

The three types of reaction identified by Robinson et al. are:

Accepted Answer

A)   Cognition, Affect, and Behaviour
B)   Cognition, Intelligence, and Emotion
C)   Empathy, Confusion, and Clarity
D)   Passion, Avoidance, and IgnoranceE) A) and B)
F) C) and D)

Question 2

It is estimated that the principal reason for the failure of small firms is poor cash flow.

Accepted Answer

A) True 
 B)False

Question 3

You are able to acquire many of the skills needed prior to considering an entrepreneurial career through all of the following means, except:

Accepted Answer

A)   Job experience
B)   Vacationing
C)   Organizational (or club)  activities
D)   Managing a homeE) A) and D)
F) B) and C)

Question 4

Entrepreneurs are driven by an immense desire to achieve the goals they initially set for themselves and then to aim for even more challenging standards. This makes them:

Accepted Answer

A)   Profit-oriented
B)   Goal-oriented
C)   Success-oriented
D)   Challenge-orientedE) A) and C)
F) All of the above

Question 5

Your credit rating is based on your income earning potential in a five year period.

Accepted Answer

A) True 
 B)False

Question 6

Arranging financing, handling credit, and budgeting are all considered skills under which broad entrepreneurial skill set?

Accepted Answer

A)   Managing people
B)   Managing inventory
C)   Managing capital
D)   Managing moneyE) A) and D)
F) None of the above

Question 7

Researchers are unable to identify a set of common attributes, attitudes, and experiences among entrepreneurs that appear to lead to success.

Accepted Answer

A) True 
 B)False

Question 8

Well-known social entrepreneurs include all of the following, except:

Accepted Answer

A)   Shannon Tessier and Zack Patterson
B)   Craig and Mark Kielburger
C)   Jeff Skoll
D)   Kenneth LayE) B) and D)
F) B) and C)

Question 9

High intelligence and conceptual ability are two of the most "learnable" attributes of successful entrepreneurs.

Accepted Answer

A) True 
 B)False

Question 10

Outline the five steps in preparing a personal balance sheet.

Accepted Answer

Step 1: Estimate the current market valu...

Question 11

List and briefly describe the three entrepreneurial archetypes developed by John Warrillow.

Accepted Answer

Craftspeople don't think of themselves a...

Question 12

The personal net worth required to start a business is generally thought to be in the range of:

Accepted Answer

A)   $5,000-$10,000
B)   $20,000-$50,000
C)   $100,000-$500,000
D)   Every business opportunity has its own unique capital requirements.E) A) and B)
F) None of the above

Question 13

All of the following are included in the triple bottom line assessment, except:

Accepted Answer

A)   Financial performance
B)   Global equality
C)   Environmental impact
D)   Social well-beingE) A) and C)
F) B) and D)

Question 14

High energy, good health, and emotional stability are thought to be some of the "not so learnable" qualities of successful entrepreneurs.

Accepted Answer

A) True 
 B)False

Question 15

One of the common themes resulting from research into the common attributes shared by successful entrepreneurs is that:

Accepted Answer

A)   Those attributes can be learned.
B)   Those attributes cannot be learned, an individual is either born with them or they are not.
C)   Those attributes are always the same - confidence, determination, and perseverance are always at the top of the list.
D)   There are no "common" set of attributes - each entrepreneurial success story is unique.E) C) and D)
F) B) and C)

Question 16

Equifax Canada Inc. is a venture capital firm headquartered in western Canada.

Accepted Answer

A) True 
 B)False

Question 17

The "typical entrepreneur" is most closely associated with the Empire Builder type of entrepreneur.

Accepted Answer

A) True 
 B)False

Question 18

Which type of entrepreneur takes advantage of the fact that unit costs tend to shrink as volume expands?

Accepted Answer

A)   Capital aggregators
B)   Economy-of-scale exploiters
C)   Pattern multipliers
D)   Deal-to-dealersE) None of the above
F) A) and C)

Question 19

Which of the following entrepreneurial types prefer to identify themselves by their craft first, and as business owners only as an afterthought?

Accepted Answer

A)   Freedom Fighters
B)   Craftspeople
C)   Lifestyle Business
D)   Empire BuildingE) B) and C)
F) C) and D)

Question 20

Many small business owners experience an immediate increase in the level of personal income they can earn.

Accepted Answer

A) True 
 B)False

Exam 1: Assessing Your Potential for an Entrepreneurial Career

Which of the following entrepreneurial types prefer to identify themselves by their craft first, and as business owners only as an afterthought?

Correct AnswerverifiedShow Answer

Many small business owners experience an immediate increase in the level of personal income they can earn.

Correct AnswerverifiedShow Answer

High energy, good health, and emotional stability are thought to be some of the "not so learnable" qualities of successful entrepreneurs.

Correct AnswerverifiedShow Answer

The three types of reaction identified by Robinson et al. are:

Correct AnswerverifiedShow Answer

The personal net worth required to start a business is generally thought to be in the range of:

Correct AnswerverifiedShow Answer

Entrepreneurs are driven by an immense desire to achieve the goals they initially set for themselves and then to aim for even more challenging standards. This makes them:

Correct AnswerverifiedShow Answer

Outline the five steps in preparing a personal balance sheet.

Correct AnswerverifiedStep 1: Estimate the current market valu...View AnswerShow Answer

High intelligence and conceptual ability are two of the most "learnable" attributes of successful entrepreneurs.

Correct AnswerverifiedShow Answer

The "typical entrepreneur" is most closely associated with the Empire Builder type of entrepreneur.

Correct AnswerverifiedShow Answer

Arranging financing, handling credit, and budgeting are all considered skills under which broad entrepreneurial skill set?

Correct AnswerverifiedShow Answer

All of the following are included in the triple bottom line assessment, except:

Correct AnswerverifiedShow Answer

Researchers are unable to identify a set of common attributes, attitudes, and experiences among entrepreneurs that appear to lead to success.

Correct AnswerverifiedShow Answer

It is estimated that the principal reason for the failure of small firms is poor cash flow.

Correct AnswerverifiedShow Answer

Your credit rating is based on your income earning potential in a five year period.

Correct AnswerverifiedShow Answer

Well-known social entrepreneurs include all of the following, except:

Correct AnswerverifiedShow Answer

You are able to acquire many of the skills needed prior to considering an entrepreneurial career through all of the following means, except:

Correct AnswerverifiedShow Answer

One of the common themes resulting from research into the common attributes shared by successful entrepreneurs is that:

Correct AnswerverifiedShow Answer

List and briefly describe the three entrepreneurial archetypes developed by John Warrillow.

Correct AnswerverifiedCraftspeople don't think of themselves a...View AnswerShow Answer

Equifax Canada Inc. is a venture capital firm headquartered in western Canada.

Correct AnswerverifiedShow Answer

Which type of entrepreneur takes advantage of the fact that unit costs tend to shrink as volume expands?

Correct AnswerverifiedShow Answer

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Step 1: Estimate the current market valu...
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Craftspeople don't think of themselves a...
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Correct Answer
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Correct Answer
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