RIF Practice Exam #1

People who purchase good or services from a business are called: Visitors, Patients, Customers, Frequent Flyers

The key term in retail for a period that an item remains usable or fit for consumption is called:

Merchandise without an expiration date like electronics, tools and home goods typically have a longer

What item is a retail service? Options: Jewelry warranty, Jewelry cleaner, Silver bracelet, Gold necklace

What is considered a retail service? Options: New car, Car wash, Car engine repair, New Car tires

In the retail product cycle, what step comes after distribution of products?

Which of the following would NOT be a factor that affects which products a retailer chooses to select to offer in a store? Local customer preferences, Manufacturer incentives, Employee preferences, The store’s location

What’s the term that describes distributing merchandise from the manufacturer to the retailer’s location?

What’s the term for reducing the price of an item in order to encourage sales?

What item is a retail product? Options: Car tire warranty, Car tire repair, Car tire installation, Car tire