Franchising Prelim QUIZ Mcfjmln PDF

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Started on Saturday, 21 August 2021, 5:39 PM State Finished Completed on Saturday, 21 August 2021, 5:51 PM Time taken 5 mins 52 secs Marks 23/23. Grade 20 out of 20 ( 100 %)Question 1 Correct Mark 1 out of 1.Flag question Question text _________________ the regular payment made by the franchisee to ...

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FRANCHISING Started on State Completed on Time taken

Question

Saturday, 21 August 2021, 5:39 PM Finished Saturday, 21 August 2021, 5:51 PM 5 mins 52 secs

Marks

23.00/23.00

Grade

20.00 out of 20.00 (100%)

1

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_________________ the regular payment made by the franchisee to the franchisor, usually based on a percentage of the franchisee’s gross sales Select one: a. Disclosure statement b. Royalty c. UFOC d. Trademark Feedback

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2

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____________________ is a contractual arrangement of franchisor, a parent company and an individual, it allows the franchisee to run the business under the firms banner. Select one:

FRANCHISING a. Wholesaler sponsored group retailers b. Franchises c. None of the choices d. Retailer owned cooperatives Feedback

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3

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The franchisee is not completely independent. Franchisees are required to operate their businesses according to the procedures and restrictions set forth by the franchisor in the franchise agreement.

Select one: True False Question

4

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The legal written contract between the franchisor and franchisee which tells each party what each is supposed to do Select one: a.

Business Format b. Franchise Agreement

FRANCHISING c. Royalty d. Disclosure Statement Feedback

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5

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Product distribution franchise, franchisee simply sells the franchisor’s products without using the franchisor’s method of conducting business. Select one: True False Question

6

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Product development known as Format Development strategy adopted by the retailers as a strategy to grow involves Select one: a. None of the choices b. Creating another format to retailer different merchandise to the same shoppers by extending store brand c. Creating another format to retail either the same or different merchandise to the same or different shoppers

d. Creating another format to retailer either the same or different merchandise to the existing customers by expanding product basket and by extending the store brand

FRANCHISING Feedback

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7

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Some important changes in the business environment that cause retailers to become multi-format retailers include Select one: a. Shoppers preference to shop for most of the things under a single roof b. Changing buying habits of the shoppers and willingness to shop through an alternative channel c. Advancement in technology and competitive pressure to adopt new format d. All of the choices Feedback

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8

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________________________under this agreement, the franchisor grants the franchisee the right to operate several or multiple franchised businesses within the geographical area. Select one: a. Master franchise agreement

b. All of the choices c.

FRANCHISING Direct franchising d. Area development agreement Feedback

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9

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Master franchising is typically employed by foreign franchisors so that a resident of the territory can expand the system in areas which the franchisor may not be familiar with. Select one: True False Question

10

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According to International Franchise Association, franchising defined as; Select one: a. A contractual agreement in which the franchisor provides a licensed privilege to do business, plus assistance in organizing, training in return for a consideration from the franchisee b. None of the choices c. Continuing relationship in which the franchisor offers a running business to the franchisee for a fee and also provides assistance in organizing, training, merchandising and, management, if the franchisee is interested

d. Continuing relationship in which the franchisor provides a licensed privilege to do business, plus assistance in organizing, training,

FRANCHISING merchandising and, management, in return for a consideration from the franchisee Feedback

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11

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A franchisee is a one Select one: a. Who has exclusive rights to distribute branded products of a company b. Who deals with retailing of a single brand c. Who owns the business concept, brand and grants franchises to the third parties d. Who has been granted the rights to conduct business using franchisor's know-how, franchisor's brand, and under the system of the franchisor Feedback

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12

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________________________retailers come together to organize a wholesaling business also known as retailer cooperative owned and organized by members and offer variety of services to the members (retailers) to help them compete with corporate chain of stores by harnessing competitiveness through scale economies Select one:

a. Wholesaler sponsored group retailers b.

FRANCHISING Franchises c. None of the choices d. Retailer owned cooperatives Feedback

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13

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Business format franchising involves Select one: a. Designing a format by the franchisee, which is approved later on by the franchisor b. Product modifications to be carried out in the format of the products by the franchisees c. The franchisor permits the franchisee gets to use the products, services, trade name, trademark and the complete or entire method to operate the business itself or the, prescribed business format, including the detailed marketing plan and operations manuals d. All types of business where the franchisor sells the products to the franchisee who in turn, sell to the final consumer Feedback

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14

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The franchisor’s identifying marks, brand names, and a logo that are licensed to the franchisee.

FRANCHISING Select one: a. Disclosure Statement b. None of the choices c. Trademark d. Royalty Feedback

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15

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Some of the modes of international franchising include Select one: a. All of the choices b. Master franchise agreement c. Direct franchising d. Area development agreement Feedback

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16

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A franchisor is a one

FRANCHISING Select one: a. Who deals with retailing of a single brand b. Who owns business concept, brand and grants the franchisee the right to do business under their trademark or trade name. c. Who offers exclusive distributorship to the retailers d. Who has been granted rights to conduct business using a franchisor's know-how, the franchsior's brand and under the system of the franchsior Feedback

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17

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________________under this arrangement, a chain of retailers organized by wholesaler unite into a voluntary chain of stores, who together would offer a well orchestrated programme of merchandising and retailing to achieve an efficiency. Select one: a. Wholesaler sponsored group retailers b. Retailer owned cooperatives c. None of the choices d. Franchises Feedback

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18

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FRANCHISING Flag question

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A fully integrated vertical marketing system develops when Select one: a. Both A and B b. A retailer integrates backward and gets access to a supply chain that improves its ability and efficiency to serve the customers c. A manufacturer integrates forward and attempts to reach the consumers or retailers directly by a process d. None of the choices Feedback

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19

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Question text UniformFranchise Offering Circular

UFOC stands for Answer Answer: Uniform Franchise Offering Circular Question

20

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Direct Franchising the franchisor grants the franchisee the right to open one

franchised business at one location with a specified geographic range that will be protected from other franchised businesses of the same system Select one: True

FRANCHISING False

FRANCHISING Started on State Completed on Time taken

Question

Saturday, 21 August 2021, 5:39 PM Finished Saturday, 21 August 2021, 5:51 PM 11 mins 48 secs

Marks

23.00/23.00

Grade

20.00 out of 20.00 (100%)

1

Correct Mark 1.00 out of 1.00

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Question text

Master franchising is typically employed by foreign franchisors so that a resident of the territory can expand the system in areas which the franchisor may not be familiar with. Select one: True False Question

2

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Which of the following is true in case of franchising? Select one: a. Franchising allows business to grow faster than any other method. b. All of the above. c. Franchising generates employment, earnings and entrepreneurship at the same time.

d. Franchising disseminates ownership rights and decision-making power to thousands of small-unit operators....