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IBC Test Prep 2

Quiz by NeKeisha King Price

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50 questions
Show answers
  • Q1
    How is Return on Investment (ROI) calculated?
    (Gross Profit / Cost of Investment) * 100%
    (Cost of Investment / Net Profit) * 100%
    (Net Profit / Cost of Investment) * 100%
    (Cost of Investment / Gross Profit) * 100%
    30s
  • Q2
    What does ROI stand for in finance?
    Return on Insurance
    Ratio of Income
    Rate of Interest
    Return on Investment
    30s
  • Q3
    A company invested $1000 in a marketing campaign that resulted in $1500 in revenue. What is the Return on Investment (ROI)?
    150%
    50%
    200%
    100%
    30s
  • Q4
    Why is Return on Investment (ROI) important when evaluating an investment?
    It helps to measure the profitability or efficiency of an investment
    It helps to determine the risk factor of the investment
    It helps in predicting the future value of the investment
    It helps to calculate the annual income
    30s
  • Q5
    What is the first stage of the Design Thinking Process?
    Prototype
    Empathize
    Test
    Ideate
    30s
  • Q6
    Which of the following is NOT a stage in the Design Thinking Process?
    Prototype
    Calculate
    Test
    Ideate
    30s
  • Q7
    What is the purpose of the 'Define' stage in the Design Thinking Process?
    To focus solely on aesthetics and visual appeal
    To skip the problem identification process
    To immediately jump to solution generation
    To clearly define the problem statement based on insights gathered during the Empathize stage.
    30s
  • Q8
    What is the importance of prototyping in the Design Thinking Process?
    To quickly and cheaply explore multiple ideas and solutions before investing time and resources into a final product.
    To increase the production cost
    To finalize the product design immediately
    To skip the testing phase
    30s
  • Q9
    Which step in the Design Thinking Process involves generating a variety of ideas without judgment or criticism?
    Empathize
    Test
    Ideate
    Prototype
    30s
  • Q10
    What is the first step in the Design Thinking Process, where you gather information about the problem you are trying to solve?
    Define
    Test
    Prototype
    Empathize
    30s
  • Q11
    In the Design Thinking Process, which step involves creating a simplified version of your solution to test how well it meets the needs of the users?
    Test
    Prototype
    Ideate
    Empathize
    30s
  • Q12
    What is the final step in the Design Thinking Process, where you gather feedback from users to evaluate the effectiveness of your solution?
    Ideate
    Iterate
    Test
    Prototype
    30s
  • Q13
    Which phase in the Design Thinking Process involves defining the problem statement and identifying the key objectives of the project?
    Define
    Ideate
    Prototype
    Test
    30s
  • Q14
    During which stage of the business life cycle does a company start to face more competition and slower growth rates?
    Maturity stage
    Growth stage
    Introduction stage
    Decline stage
    30s
  • Q15
    What is Customer Acquisition Cost (CAC)?
    The total revenue generated from a customer
    The average age of customers
    The cost associated with convincing a customer to buy a product or service
    The number of customers acquired in a month
    30s

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