IOM REVIEW EXAMINATION

Which sector focuses on research and development?

• PRIMARY SECTOR
• SECONDARY SECTOR
• TERTIARY SECTOR
• QUATERNARY SECTOR
• QUINARY SECTOR

Which sector focuses on the creation, re-arrangement, and interpretation of new existing ideas?

• PRIMARY SECTOR
• SECONDARY SECTOR
• TERTIARY SECTOR
• QUATERNARY SECTOR
• QUINARY SECTOR

What is the primary sector of the economy primarily involved in?

• Extracting natural resources
• Selling finished products
• Providing knowledge-based services
• Manufacturing finished products

What is the process that transforms resources into finished goods or services for customers or clients?

• Transformation process
• Departmentalization
• Industrial classification
• Value adding

Which of the following is not one of the M's of a process?

• Materials
• Machines
• Marketing
• Man

10 M's of a process

What are the five functions involved in management?

• Hiring, Training, Supervising, Evaluating, Promoting
• Selling, Producing, Researching, Financing, Distributing
• Planning, Organizing, Staffing, Directing, Controlling
• Designing, Manufacturing, Marketing, Analyzing, Communicating

Which department is responsible for recruiting new employees and ensuring each vacancy is filled by the best person for the job?

• Finance
• Human Resource (HR)
• Administration
• Sales

What is the phase of the product development process that involves the construction and evaluation of multiple pre-production versions of the product?

• Testing and refinement
• Design detail
• System level design
• Concept development

What does SIPOC stand for?

• System Input Process Output Control
• Standard Industry Process Optimization Chart
• Supplier Input Process Output Customer
• Systematic Industrial Process Organization Classification