SS1 First Term Store Management Past Questions And Answer
Question: What is the primary goal of store management?
a) Maximizing profit
b) Minimizing customer satisfaction
c) Ignoring inventory levels
d) Avoiding staff training
Answer: a) Maximizing profit
Question: Which inventory management method involves keeping a continuous track of each item in stock?
a) FIFO (First In, First Out)
b) LIFO (Last In, First Out)
c) JIT (Just-In-Time)
d) ABC (Always Be Counting)
Answer: c) JIT (Just-In-Time)
Question: What is the purpose of a store layout?
a) Confuse customers
b) Enhance security
c) Facilitate a smooth shopping experience
d) Increase employee workload
Answer: c) Facilitate a smooth shopping experience
Question: In retail, what does SKU stand for?
a) Shop Keeping Unit
b) Stock Keeping Unit
c) Sales Knowledge Update
d) Store Key Utilization
Answer: b) Stock Keeping Unit
Question: What is the significance of setting a reorder point in inventory management?
a) Ensures timely restocking
b) Reduces customer traffic
c) Increases storage costs
d) Delays order processing
Answer: a) Ensures timely restocking
Question: Which pricing strategy involves setting a high initial price and gradually reducing it over time?
a) Penetration pricing
b) Skimming pricing
c) Bundle pricing
d) Psychological pricing
Answer: b) Skimming pricing
Question: What is the role of a barcode in store management?
a) Decorative label
b) Identifying product information
c) Employee name tag
d) Marketing slogan
Answer: b) Identifying product information
Question: How does a perpetual inventory system differ from a periodic inventory system?
a) Perpetual is manual, while periodic is automated
b) Perpetual updates inventory continuously, while periodic counts periodically
c) Perpetual only tracks high-value items, while periodic tracks all items
d) Perpetual is suitable for small businesses, while periodic is for large enterprises
Answer: b) Perpetual updates inventory continuously, while periodic counts periodically
Question: What is a “Planogram” in store management?
a) Employee schedule
b) Floor plan displaying product placement
c) Price negotiation document
d) Customer loyalty program
Answer: b) Floor plan displaying product placement
Question: In the context of store security, what does EAS stand for?
a) Employee Assistance Service
b) Electronic Article Surveillance
c) Emergency Action System
d) External Asset Shield
Answer: b) Electronic Article Surveillance
Question: What is the purpose of a cash register in store management?
a) Employee time tracking
b) Customer entertainment
c) Record sales transactions
d) Inventory storage
Answer: c) Record sales transactions
Question: What is the key factor in determining the location of a retail store?
a) Employee preferences
b) Proximity to competitors
c) Customer demographics
d) Weather patterns
Answer: c) Customer demographics
Question: What does FIFO stand for in inventory management?
a) Fast In, Fast Out
b) First In, First Out
c) Find It, Fetch Out
d) Freezing Inventory for Optimal
Answer: b) First In, First Out
Question: Why is shrinkage a concern in store management?
a) Reduces employee workload
b) Increases profit margin
c) Involves theft, loss, or damage of inventory
d) Enhances customer satisfaction
Answer: c) Involves theft, loss, or damage of inventory
Question: What is the purpose of a loyalty program in retail?
a) Discourage repeat customers
b) Increase one-time purchases
c) Reward and retain loyal customers
d) Implement strict return policies
Answer: c) Reward and retain loyal customers
Question: Which document is used to initiate a purchase order in store management?
a) Invoice
b) Receipt
c) Requisition form
d) Price tag
Answer: c) Requisition form
Question: How does effective employee training contribute to store management?
a) Increases inventory costs
b) Improves customer service
c) Decreases sales revenue
d) Delays product restocking
Answer: b) Improves customer service
Question: What is the purpose of a stocktake in store management?
a) Employee performance evaluation
b) Identifying slow-selling products
c) Calculating monthly salaries
d) Determining store temperature
Answer: b) Identifying slow-selling products
Question: What is the significance of seasonal merchandising in retail?
a) Reduces customer foot traffic
b) Encourages long-term contracts with suppliers
c) Matches product offerings with seasonal demand
d) Ignores market trends
Answer: c) Matches product offerings with seasonal demand
Question: What does POS stand for in the context of store management?
a) Point of Sale
b) Proof of Service
c) Product Ordering System
d) Price Observation System
Answer: a) Point of Sale.
