Breakthrough Intl Bible University - Management, Finance, And Logistics Exam
This exam is designed to test your proficiency in the topics of Management, Finance, and Logistics.
Questions and Answers
- 1.
A manager's role is primarily confined to
- A.
Plan, implement, coordinate, monitor and evaluate
- B.
Envision and strategize
- C.
Develop new systems and technology
- D.
Maintain good relations with the outside world
Correct Answer
A. Plan, implement, coordinate, monitor and evaluateExplanation
The correct answer is "Plan, implement, coordinate, monitor and evaluate." This answer accurately describes the primary responsibilities of a manager. Managers are responsible for planning and setting goals, implementing strategies and initiatives, coordinating and organizing tasks, monitoring progress and performance, and evaluating outcomes. These activities are essential for effective management and ensuring the success of a team or organization.Rate this question:
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- 2.
In negotiating, the skills that are most important are
- A.
Clarifying
- B.
Reacting immediately to a proposal
- C.
Creativity generating lots of options
- D.
Giving counter proposals
Correct Answer
A. ClarifyingExplanation
In negotiating, clarifying is the most important skill because it helps to ensure clear communication and understanding between all parties involved. By clarifying the terms, goals, and expectations, negotiators can avoid misunderstandings and conflicts. This skill allows negotiators to ask questions, seek clarification, and confirm their understanding of the proposal or situation. It also helps in identifying any potential issues or concerns that need to be addressed. Overall, clarifying plays a crucial role in effective negotiation by promoting transparency, trust, and effective problem-solving.Rate this question:
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- 3.
A budget for Health Programs is made with a purpose to
- A.
Reduce expenses and costs
- B.
Improve coordination
- C.
Plan resources
- D.
Ensure financial compliances
Correct Answer
C. Plan resourcesExplanation
The purpose of creating a budget for Health Programs is to plan resources effectively. By having a budget in place, organizations can allocate funds and resources in a strategic manner, ensuring that they are utilized efficiently to support various health initiatives. This helps in optimizing the use of available resources and ensures that the necessary funding is allocated to different programs based on their priority and importance.Rate this question:
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- 4.
Marginal cost can best be defined as
- A.
The total cost of the output
- B.
Incremental cost
- C.
Additional cost of producing one more unit
- D.
Margin kept by producer for profit
Correct Answer
C. Additional cost of producing one more unitExplanation
Marginal cost refers to the additional cost incurred in producing one more unit of output. It represents the change in total cost when one additional unit is produced. This cost includes both variable costs (such as raw materials and labor) and any additional fixed costs (such as equipment or machinery) that are necessary to produce the extra unit. By understanding the marginal cost, producers can make informed decisions about the optimal level of production and pricing to maximize profitability.Rate this question:
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- 5.
Performance of logistics management can be viewed in two contexts
- A.
Trouble causing and reactive
- B.
Trouble prevention and opportunity maximization
- C.
Quality oriented and value driven
- D.
Price sensitive and hard nosed negotiation
Correct Answer
B. Trouble prevention and opportunity maximizationExplanation
The performance of logistics management can be evaluated in terms of trouble prevention and opportunity maximization. This means that a successful logistics management system should focus on preventing any issues or troubles that may arise in the supply chain, while also seeking to maximize opportunities for improvement and growth. By proactively addressing potential problems and capitalizing on opportunities, logistics management can effectively optimize the overall performance and efficiency of the supply chain.Rate this question:
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- 6.
If we use the concept of quality in medical services
- A.
It would ensure that we give the right treatments to the right patients the first time and every time
- B.
It would fulfill all the requirements under the law
- C.
It would give high morale to the doctors
- D.
It would reduce the number of patients
Correct Answer
A. It would ensure that we give the right treatments to the right patients the first time and every timeExplanation
By using the concept of quality in medical services, it ensures that the right treatments are given to the right patients the first time and every time. This means that there would be a focus on accuracy and precision in diagnosing and treating patients, reducing the chances of errors or misdiagnoses. This would lead to improved patient outcomes and satisfaction. Additionally, by fulfilling all the requirements under the law, it ensures that the medical services provided are in compliance with regulations and standards, further enhancing the quality and safety of care. This would also boost the morale of doctors, knowing that they are providing high-quality care. Ultimately, by delivering high-quality care, it may lead to a reduction in the number of patients needing treatment, as preventive measures and effective treatments can help prevent or manage illnesses more efficiently.Rate this question:
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- 7.
Leadership focuses on
- A.
Building relationships only
- B.
Brainwashing people to do the task
- C.
Maintaining status quo and stability
- D.
Envisioning the future and enrolling people to that vision
Correct Answer
D. Envisioning the future and enrolling people to that visionExplanation
Leadership is about having a clear vision for the future and inspiring others to share and work towards that vision. It involves setting goals, creating a roadmap, and motivating and aligning individuals towards achieving those goals. By enrolling people to the vision, leaders can effectively communicate the direction, purpose, and values of the organization, fostering commitment and engagement among team members. This approach encourages innovation, growth, and adaptability, enabling the organization to thrive in a dynamic and ever-changing environment.Rate this question:
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- 8.
The objective of good negotiation should be which one of the following outcomes?
- A.
I win, you lose
- B.
I lose, you win
- C.
I win, you win
- D.
I lose, you lose
Correct Answer
C. I win, you winExplanation
The objective of good negotiation should be to achieve a win-win outcome where both parties involved in the negotiation feel satisfied with the agreement reached. This means that both parties are able to achieve their desired outcomes and reach a mutually beneficial solution. It involves finding common ground, compromising, and seeking solutions that meet the needs and interests of both parties. A win-win outcome promotes cooperation, fosters positive relationships, and ensures long-term success and sustainability.Rate this question:
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- 9.
Which statement is correct?
- A.
A budget is an outcome of a strategic plan.
- B.
A budget is a strategic plan.
- C.
A budget is a statement of profit and loss.
- D.
A budget is a political tool to satisfy funding agencies.
Correct Answer
A. A budget is an outcome of a strategic plan.Explanation
The correct answer is "A budget is an outcome of a strategic plan." This means that a budget is the result or product of a strategic plan. A strategic plan outlines the goals and objectives of an organization, and a budget is then created to allocate resources and finances in order to achieve those goals. The budget is based on the strategic plan and serves as a financial roadmap for the organization's activities and operations.Rate this question:
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- 10.
Health programs
- A.
Do not require costing.
- B.
Need proper classifications of costs.
- C.
Need only broad estimations of costs.
- D.
Need to be expense focused.
Correct Answer
B. Need proper classifications of costs.Explanation
Health programs require proper classifications of costs because it is important to accurately identify and allocate costs to different components of the program. This allows for better financial planning, budgeting, and monitoring of expenses. Proper cost classifications also help in evaluating the cost-effectiveness of the program and making informed decisions regarding resource allocation. Without proper classifications, it would be difficult to track and analyze the specific costs associated with different aspects of the program, hindering effective financial management.Rate this question:
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Current Version
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Jan 31, 2023Quiz Edited by
ProProfs Editorial Team -
Sep 23, 2018Quiz Created by
Breakthroughuniversity
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