Entrepreneur Risk Assessment Quiz
An entrepreneur is a person who sees a gap in the industry and aims to fill it. There are different types of risks that an entrepreneur needs to asses before starting a business, and we got to cover each of them in class. Do you recall how to run them? This quiz helps you access your level of risk for being an entrepreneur. Give it a shot!
Questions and Answers
- 1.
What type of business do you want to start ?
- A.
Retail, service, manufacturing, agricultural or construction business
- B.
Whatever is easiest to succeed and earn money in.
- C.
Not Sure
Correct Answer
A. Retail, service, manufacturing, agricultural or construction businessExplanation
The correct answer is "Retail, service, manufacturing, agricultural or construction business." This answer encompasses various types of businesses that one can start. It suggests that the person is open to any of these options and is willing to explore different industries. It shows a willingness to adapt and consider different avenues for success and profitability.Rate this question:
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- 2.
Why do you want to go into business ?
- A.
I need a job.
- B.
My own personal satisfaction and I can't stand working for anyone else.
- C.
To make a lot of money.
- D.
To give me an outlet for lots of unused energy..
Correct Answer
B. My own personal satisfaction and I can't stand working for anyone else.Explanation
This answer suggests that the person wants to go into business because they want to have control over their own work and not be dependent on others. They value personal satisfaction and autonomy in their career.Rate this question:
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- 3.
My business will be successful if :
- A.
I can just get a loan to get started.
- B.
I can make an immediate profit.
- C.
I can find a cheap location.
- D.
I can satisfy a need and generate a new one for new business
Correct Answer
D. I can satisfy a need and generate a new one for new businessExplanation
The answer suggests that the success of the business depends on the ability to satisfy a need and generate a new one for a new business. This implies that simply getting a loan, making an immediate profit, or finding a cheap location may not be enough to ensure success. Instead, the focus should be on identifying and fulfilling a demand in the market, which can lead to the creation of a new business opportunity and sustainable growth.Rate this question:
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- 4.
Are you in good health ?
- A.
Yes.
- B.
No.
Correct Answer
A. Yes.Explanation
The given correct answer is "Yes." This implies that the person is in good health.Rate this question:
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- 5.
How are other businesses, like the one you want to start, doing in your community?
- A.
Not very well.
- B.
About average.
- C.
Very well.
- D.
I'm not aware of how they are doing.
- E.
There are no businesses around here like the one I want to start.
Correct Answer
C. Very well.Explanation
The answer "Very well" suggests that other businesses similar to the one the person wants to start are doing well in the community. This implies that there is a demand for such businesses and that they are successful in attracting customers and generating profits.Rate this question:
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- 6.
A really good idea sells itself.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
C. Disagree.Explanation
The statement "A really good idea sells itself" is being disagreed with. This suggests that even if an idea is exceptionally good, it does not guarantee its success or acceptance. While a good idea may have inherent value, it still requires effective marketing, communication, and persuasion to convince others of its worth. Simply relying on the idea's merits alone may not be enough to ensure its success in the marketplace or in gaining support.Rate this question:
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- 7.
I think I should pay myself more as the founder of my business than I made working at my old job.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
C. Disagree.Explanation
The correct answer is "Disagree." This is because the statement suggests that the founder should pay themselves more than what they made at their old job, which may not be financially feasible or sustainable for the business. It is important for the founder to consider the financial health of the business and make decisions that align with its growth and success.Rate this question:
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- 8.
I am generally an optimistic person, and I am optimistic about my chances to succeed in business.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
A. Agree.Explanation
The given statement suggests that the person is generally optimistic and believes in their ability to succeed in business. This aligns with the option "Agree" as it indicates that the person agrees with their optimistic outlook and believes in their chances of success.Rate this question:
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- 9.
I think I should be free to run my business as I see fit. Investors and/lenders should respect this and leave me alone, free from their interference.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
C. Disagree.Explanation
The statement suggests that the person believes they should have complete autonomy in running their business and that investors and lenders should not interfere. However, the correct answer is "Disagree" because running a business involves financial investments from investors and lenders, who have a legitimate interest in ensuring the success and profitability of the business. They may provide guidance, support, and oversight to protect their investments and maximize returns. Therefore, it is important to acknowledge their role and involvement in the business rather than expecting complete freedom from their interference.Rate this question:
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- 10.
When solving problems, I look for the best solution and forget about the rest.
- A.
Agree.
- B.
Partially disagree
- C.
Disagree.
Correct Answer
C. Disagree.Explanation
This answer suggests that the individual does not agree with the statement that they look for the best solution and forget about the rest when solving problems. They may believe that it is important to consider multiple solutions and weigh their pros and cons before making a decision.Rate this question:
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- 11.
When I decide there is something I want, I usually find a way to get it. If I don't find a way, I figure out why.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
A. Agree.Explanation
This statement suggests that the person is determined and resourceful in achieving their goals. They believe that if they want something, they will find a way to obtain it. If they are unable to find a way, they will analyze the reasons behind it. This aligns with the "Agree" response, as it indicates a proactive and problem-solving mindset.Rate this question:
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- 12.
I never plan what I am going to do tomorrow. Something always comes up that changes things, so why should I waste my time ?
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
C. Disagree.Explanation
The statement "I never plan what I am going to do tomorrow" suggests that the person does not believe in making plans for the future because they believe that something unexpected always happens that changes their plans. However, the correct answer "Disagree" indicates that the person does not agree with this belief. They likely believe that even though unexpected events may occur, it is still important to plan for the future and not waste time.Rate this question:
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- 13.
If I were going to bet, I'd bet on the "long shot" with the highest potential payoff.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
C. Disagree.Explanation
The statement in the question suggests that the person would choose the "long shot" with the highest potential payoff if they were to bet. However, the correct answer is "Disagree," indicating that the person does not agree with this approach. This implies that the person would not choose the long shot with the highest potential payoff when placing a bet.Rate this question:
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- 14.
I like spending time with my employees or fellow workers after the day is over.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer(s)
B. Partially disagree.
C. Disagree.Explanation
The correct answer is "Partially disagree, Disagree" because the statement implies that the person enjoys socializing with their employees or co-workers after work. However, the response options "Partially disagree" and "Disagree" indicate that the person does not enjoy spending time with their employees or co-workers after work. Therefore, both options are correct answers based on the given statement.Rate this question:
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- 15.
I enjoy setting my own standards and goals and I work hard to achieve them.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
A. Agree.Explanation
This statement suggests that the person enjoys having control over their own standards and goals and is motivated to work hard in order to achieve them. They likely value independence and self-determination in their personal and professional life.Rate this question:
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- 16.
I am basically an easy going person in my relationships with others. I don't push my opinions or demands on anyone.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
C. Disagree.Explanation
The statement suggests that the person does not push their opinions or demands on anyone, indicating that they are not easy-going in their relationships. Therefore, the correct answer is Disagree.Rate this question:
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- 17.
I don't like ambiguity, and I take action to find out what is going on.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
A. Agree.Explanation
This answer suggests that the person does not like ambiguity and prefers to take action in order to understand what is happening. They agree with the statement because they align with the idea of actively seeking clarity and resolution rather than being comfortable with uncertainty.Rate this question:
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- 18.
I work best when someone gets me going and provides some help along the way.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
C. Disagree.Explanation
This answer suggests that the person does not work best when someone gets them going and provides help along the way. They may prefer to work independently or find that they are more productive when they are not relying on others for motivation or assistance.Rate this question:
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- 19.
I am going to hire friends or people I know to work for me. I think that's best because I know I can trust them not to give me trouble.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
C. Disagree.Explanation
Hiring friends or people you know solely based on trust can lead to biased decision-making and potential conflicts of interest. It is important to prioritize qualifications, skills, and experience when hiring to ensure the best fit for the job. Relying on personal relationships may hinder objective decision-making and limit the diversity and expertise within the team. It is crucial to maintain a professional environment and consider the overall success of the business when making hiring decisions.Rate this question:
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- 20.
When I know what I am talking about, I can get others to believe me.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer(s)
A. Agree.
B. Partially disagree.Explanation
When someone knows what they are talking about, they are more likely to be able to convince others and make them believe in their viewpoint. This is because knowledge and expertise give credibility and confidence to the speaker, making their arguments more persuasive. However, it is also possible for someone to have knowledge but lack the communication skills or charisma to effectively convey their ideas, which might lead to partial disagreement.Rate this question:
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- 21.
The most effective way to solve a problem is to consider a lot of different alternatives.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
A. Agree.Explanation
Considering a lot of different alternatives is the most effective way to solve a problem because it allows for a comprehensive analysis of different perspectives and potential solutions. By exploring various options, one can evaluate their pros and cons, identify the most suitable approach, and potentially discover innovative solutions that may not have been initially apparent. This approach promotes critical thinking, creativity, and flexibility in problem-solving, increasing the likelihood of finding the most effective solution.Rate this question:
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- 22.
Making a lot of money is largely a matter of getting the right breaks.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
C. Disagree.Explanation
The statement suggests that making a lot of money is primarily dependent on luck or external factors, such as getting the right opportunities or breaks. However, this answer disagrees with the statement, implying that making a lot of money is not solely determined by luck or external factors. It suggests that factors like hard work, skills, knowledge, and strategic decision-making also play a significant role in achieving financial success.Rate this question:
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- 23.
I enjoy playing sports or games with people who are a little better than I am.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer(s)
A. Agree.
B. Partially disagree.Explanation
This answer suggests that the person enjoys playing sports or games with people who are slightly better than them. They may find it challenging and motivating to compete against those who have more skill or experience. However, they may also partially disagree, indicating that they may not always enjoy playing with people who are significantly better than them, as it may become too difficult or discouraging.Rate this question:
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- 24.
I like to impress people by showing them how well I can do certain things.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer(s)
A. Agree.
B. Partially disagree.Explanation
This answer suggests that the person enjoys impressing others by demonstrating their skills or abilities, but may not always feel the need to do so. They might enjoy showcasing their talents occasionally, but it is not a constant desire for them.Rate this question:
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- 25.
I find that other people often waste my valuable time.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer(s)
A. Agree.
B. Partially disagree.Explanation
The given answer "Agree, Partially disagree" suggests that the individual agrees to some extent that other people waste their valuable time but also disagrees to some extent. This indicates that while they may feel that others waste their time occasionally, they do not believe it happens frequently or significantly enough to fully agree.Rate this question:
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- 26.
I don't mind talking openly about myself with other people.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
C. Disagree.Explanation
The statement "I don't mind talking openly about myself with other people" implies that the person is comfortable sharing personal information with others. By disagreeing with this statement, it suggests that the person does mind talking openly about themselves with others, indicating a preference for privacy or a discomfort with sharing personal details.Rate this question:
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- 27.
Part of being successful in business is reserving enough time for my family.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
C. Disagree.Explanation
The statement suggests that reserving enough time for one's family is part of being successful in business. However, the answer "Disagree" indicates that the person does not believe that reserving time for family is necessary for success in business. They may believe that success in business can be achieved without prioritizing family time or that family time is not relevant to business success.Rate this question:
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- 28.
If I were faced with failure, I would shift to something else rather than seeing things through to the bitter end.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer(s)
A. Agree.
B. Partially disagree.Explanation
The given correct answer is "Agree, Partially disagree." This means that the person agrees with the statement to some extent but also disagrees with it partially. It suggests that while they may be inclined to shift to something else in the face of failure, they also recognize the importance of seeing things through to the end, even if it may be difficult or unpleasant.Rate this question:
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- 29.
If someone has legitimate authority, I don't mind following his or her orders.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
C. Disagree.Explanation
The statement suggests that the person does not mind following orders from someone who has legitimate authority. However, the correct answer is disagree, indicating that the person does mind following orders from someone with legitimate authority. This suggests that the person may have issues with authority or prefers to have more autonomy in decision-making.Rate this question:
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- 30.
I enjoy planning things more than I do actually carrying out the plans.
- A.
Agree.
- B.
Partially disagree.
- C.
Disagree.
Correct Answer
C. Disagree.Explanation
This answer suggests that the person does not enjoy planning things more than carrying out the plans. They may find equal enjoyment in both activities or they may even prefer carrying out the plans over the process of planning them.Rate this question:
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Quiz Review Timeline +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Mar 20, 2023Quiz Edited by
ProProfs Editorial Team -
Dec 17, 2008Quiz Created by
Mattheosis
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