Why Enroll In Ffi Gen?
Test your mastery of concepts in the family enterprise field with questions from the four GEN courses. Consider enrolling in the inaugural class of FFI GEN, Family Firm Institute Global Education Network. Classes begin in January 2012. Visit www. Ffi. Org for more information.
- 1.Which of the following stages or stage is most likely to elicit an unexpected response from the client system?
- A.
The first contact
- B.
The chemistry meeting
- C.
The letter of engagement
- D.
The assessment
- E.
The feedback and planning meeting
- F.
All of the above
- G.
None of the above
- 2.Select all that apply. In the first contact with a prospective client, the goal is to:
- A.
Understand the motivation of the client’s call
- B.
Appreciate the referral source
- C.
Discern if the consultant’s skills meet the client’s needs
- D.
Get all the information possible about all of the players
- E.
All of the above
- F.
None of the above
- 3.Which of the following resources does not necessarily add intergenerational value to a family? Select all that apply.
- A.
The family’s personal relationships
- B.
The family’s influence in the community
- C.
The ways in which the family develops values and expectations in young members
- D.
The family’s on-going dedication to their original mission
- E.
All of the above
- F.
None of the above
- 4.The family wealth system contains what types of capital. Select all that apply.
- A.
Social capital
- B.
Organizational capital
- C.
Human capital
- D.
Intellectual capital
- E.
Financial capital
- F.
Capital stock
- G.
All of the above
- H.
None of the above
- 5.Select all of the TRUE statements:
- A.
Financial capital has traditionally been the focus of most advising.
- B.
The process of creating new wealth is hindered by philanthropic ventures.
- C.
The family that wants to pass its wealth on to the next generation has to offer more than money.
- D.
Social capital is the good will that a family accrues over time.
- E.
All of the above
- F.
None of the above
- 6.Select all that apply. Typical triggering events in an operating business subsystem include:
- A.
Transfer to family members
- B.
Reorganization
- C.
Empty nest
- D.
Liquidation
- E.
Change in charitable needs
- F.
All of the above
- G.
None of the above
- 7.Which of the following are examples of a ‘feed-back loop’? Select all that apply.
- A.
Hiring a new VP of Marketing
- B.
Ongoing conflict between father and son about leadership succession
- C.
Creating a fair compensation plan for relatives working in the business
- D.
Successful mentoring between non-family manager and successor
- E.
None of the above
- 8.Select all that apply. The following systems ideas are applied in assessing the family enterprise system:
- A.
Triangles
- B.
Scapegoating
- C.
Boundaries
- D.
Shareholder agreements
- E.
None of the above
- 9.Which of the following would be a typical change to a governance system over time?
- A.
Stock ownership is broadened
- B.
A partnership develops
- C.
A corporation is formed
- D.
The rules and regulations change to accommodate family dynamics
- E.
All of the above
- F.
None of the above
- 10.Owners of family enterprises:
- A.
Are the individuals or entities who own shares in the enterprise
- B.
Can include family and non-family members, e.g., managers, employees, investors, and trustees of trusts
- C.
Can also reflect subgroups that exist within the family such as senior generation and successor generation, and family branches
- D.
The ownership system is always the same as the family system
- E.
All of the above
- F.
None of the above
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