Entrepreneurship Mock Exam MCQs Flashcards
How does a market pull opportunity best characterised?
a) An unidentified need and an unidentified solution
b) An identified need and unidentified solution
c) An unidentified need and identified solution
d) An identified need and identified solution
e) None of the above
b) An identified need and unidentified solution
What is a pivot?
a) A minor change in an investor’s decision to fund a startup
b) a major change in a customer’s understanding of the problem
c) A major change to a business model based on feedback
d) A substantial change from proof-of-concept to prototype development
e) None of the above
c) A major change to a business model based on feedback
Which of the following does accurately describe the investment patterns of angel investors?
a) They do not involve in firm management
b) They often focus on the late-stage ventures
c) They provide guidance to founders
d) They invest in multiple rounds and tranches
e) They do not require equity share for their investment
c) They provide guidance to founders
Which of the following statements is incorrect?
a) Entrepreneurship matters for employment creation
b) Some entrepreneurs aim to solve social problems
c) All entrepreneurs commercialise inventions
d) All entrepreneurs seek a high-growth trajectory with their businesses
e) Some entrepreneurs aim to solve environmental problems
d) All entrepreneurs seek a high-growth trajectory with their businesses
Which of the following statements about technology push and market pull is correct?
a) Technology push and market pull focus on connecting markets from different industries together
b) The aim of technology push and market pull is to better understand market segmentation
c) The aim of technology push and demand pull is to differentiate between markets and industries
d) Technology push and market pull focus on linking markets with technology
e) Technology push typically precedes market pull
d) Technology push and market pull focus on linking markets with technology
Which of the following statements is correct? The value proposition is:
a) The method through which businesses communicate with customers to create value
b) The process that ensures the product has reached the market readiness stage
c) A combination of the product-market mix and unique selling points
d) The offer a business proposes to customers in its branding campaign
e) All of the above statements are correct
c) A combination of the product-market mix and unique selling points
Which of the following most accurately describes function of a Minimum Viable Product (MVP)?
a) To showcase a sophisticated version of your product
b) To collect learning about your potential shareholders
c) To collect learning about your customers
d) To get feedback from investors
e) All of the above
c) To collect learning about your customers
An accelerator:
a) Is a network of wealthy private investor who are often experienced entrepreneurs and charge fees for mentoring
b) Has the primary goal of gaining revenue by renting out office space to startups
c) Provides support to companies at the acquisition stage
d) Operates in cohorts with intensive mentoring offered to startups over a time-limited period
e) Provides long-term office space and management training
d) Operates in cohorts with intensive mentoring offered to startups over a time-limited period
Which of the following accurately describes the sequence of the hypothesis-driven approach from the beginning?
1 - Set up hypotheses 2 - Confirm your hypotheses and move on to test other hypotheses 3 - Design and conduct empirical tests 4 - Scale and optimise 5 - Set vision
a) 1 - 2 - 3 - 4 - 5
b) 5 - 4 - 1 - 2 - 3
c) 5 - 1 - 3 - 2 - 4
d) 2 - 5 - 4 - 1 - 3
e) 3 - 5 - 4 - 1 - 2
c) 5 - 1 - 3 - 2 - 4
What of the following components is not part of the lean methodology?
a) Validating and falsifying hypotheses
b) Learn-Build-Measure Cycle
c) Should this product be built?
d) MVP which stands for “Most Valuable Product”
e) None of the above
e) None of the above
