RIF Practice Exam 1

Which of the following is a term for physical goods that are bought and sold?

• sales
• pricing
• services
• products

Which of the following is a standard term that describes the audience of retail stores - that is, the people who will buy things from stores?

• manufacturers
• customers
• wholesalers
• buyers

Which of the following is a term for intangible things, such as providing delivery for items sold by retailers?

• services
• gifts
• training
• products

Which of the following terms best describes a grower of potatoes?

• stocker
• manufacturer
• distribution center
• retailer

The majority of retailers are?

• online only
• corporations
• independently owned
• franchises

Which of the following is the term for the retailing approach that places the focus on creating a seamless shopping experience for customers by integrating multiple channels?

• multichannel
• integrated channel
• omnichannel
• seamless channel

Approximately what percentage of US jobs are retail jobs, as of 2019?

• 5-10%
• 20-25%
• 10-15%
• 35-40%

What kinds of things does a manufacturer produce?

• finished products
• fossil fuels
• services
• raw materials

Which of the following would NOT be a factor that affects which products a retailer chooses to select to offer in store?

• employee preferences
• local customers
• manufacturer incentives
• the store's location

Which of the following holds large quantities of products that are later sent either to retail locations or directly to customers?

• distribution center
• manufacturer
• wholesaler
• retailer