CPSM Certification Exam: Trivia Quiz

10 Questions | By Ovillanu | Updated: Mar 21, 2022 | Attempts: 138

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CPSM Certification Exam: Trivia Quiz - Quiz

CPSM certification exam: a trivia quiz. The Certified Professional in Supply Management certificate gets to certify a person’s ability to understand different features about the supply chain. How do you ensure that you have adequately prepared to tackle the exam and will get your certification? This quiz will help assess your readiness and show you how much revision you will need. Do check it out and refresh your memory. All the best!

Questions and Answers

1.

Marketing goals are most effective when they are:
- A.
  
  Qualitative and related to a firm's goals.
- B.
  
  Quantifiable and flexible.
- C.
  
  Related to a firm's profitability.
- D.
  
  Specific, measurable, and achievable.
2.

The term market position refers to the:
- A.
  
  External perception of the firm compared to its competition.
- B.
  
  Firm's perception of itself compared to its competition.
- C.
  
  Firm's percentage of market share.
- D.
  
  Market's response to economic fluctuations.
3.

A well-designed and implemented marketing plan will:
- A.
  
  Determine the current level of client satisfaction
- B.
  
  Analyze the effectiveness of the firm’s past marketing efforts
- C.
  
  Analyze the effectiveness of the firm’s client relationship management system
- D.
  
  Focus marketing efforts to make effective use of a firm’s resources
4.

An effective network can save substantial time by:
- A.
  
  Providing coverage when a firm is understaffed.
- B.
  
  Validating information on clients and projects.
- C.
  
  Designing a firm's marketing strategy.
- D.
  
  Providing information on fees.
5.

After a marketing plan has been developed, if market research identifies a new market niche opportunity, the marketing professional should:
- A.
  
  Prepare a news release identifying the market niche and announcing the firm's intent to enter the new area of practice.
- B.
  
  Announce the firm's intent to enter the new area of practice to employees in an in-house newsletter.
- C.
  
  Conduct additional research to identify other market niche opportunities before acting on the first one.
- D.
  
  Inform management about the opportunity, and with management concurrence, bring about a new focus in the firm's marketing materials.
6.

Secondary research about market trends involves which of the following?
- A.
  
  Facilitating client focus groups
- B.
  
  Networking at a client industry trade show
- C.
  
  Gathering data from U.S. Census Bureau
- D.
  
  Conducting competitive analyses
7.

Which of the following is the most appropriate first step in conducting marketing research?
- A.
  
  Determine desired work.
- B.
  
  Determine market size.
- C.
  
  Determine market maturity.
- D.
  
  Determine feasibility.
8.

Which of the following is an example of quantitative research?
- A.
  
  A business publication conducting surveys to determine growth potential of a project delivery method.
- B.
  
  A firm conducting a focus group to determine their clients’ perception of the firm’s services.
- C.
  
  A business development professional meeting with a prospective client to determine when an RFP will be issued.
- D.
  
  A marketing professional calling government agencies to determine funding availability for a municipal project.
9.

A major shortcoming of developing a marketing budget based on the prior year's budget is that it:
- A.
  
  Depends on an accounting of year-to-date costs for labor and expenses.
- B.
  
  Requires a projection of increases or decreases in each market-cost line item.
- C.
  
  Overlooks the goals of the marketing plan for the coming year.
- D.
  
  Depends on a stable, established marketing effort.
10.

Knowledge of a firm's strengths and weaknesses, changes in the business environment, historical trends, and management goals are:
- A.
  
  Components of a firm's mission statement.
- B.
  
  Useful in assessing the firm's marketing budget.
- C.
  
  The basis for selecting target markets.
- D.
  
  Critical for developing a public relations plan.