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SA--PharmEcon > EXAM2 > Flashcards

EXAM2 Flashcards

1
Q

Organizational Behavior Question

A
  • RPh engages or works in large organization
  • Help Employees meet his or her expectation w/in organizations goal
  • Enhance professional employment experience

[all the above]

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2
Q

Which one is correctly matched?

A

Vertical Differentiation - Report goes from store manager to district

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3
Q

Which one is correctly matched part2

A

Boundryless organization - Virtual organization

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4
Q

Which of the following is NOT true?

A

Day to Day experiences pharmacist have with their employing organization will not influence how they view the entire profession of pharmacy

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5
Q

Which one of the leadership behavioral theories match with the explanation

A

Laissez-faire leaders- employees set their own goals

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6
Q

Medication Error can result from (K-type)

A

I-Poor dispensing habits.
II-Poor supervision of technicians. III-Overworked pharmacist and technician

[All of the above]

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7
Q

All are considered importance of performance appraisals, EXCEPT

A

To help in the hiring process

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8
Q

In the performance appraisals interview

A

II) The employee should self-evaluate their performance and prepare comments

III) Written evaluation are always followed by formal interview of employee

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9
Q

Which is FALSE?

A

Primary goal of termination is to terminate the employee immediately

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10
Q

Examples for organizational rewarding:

A
  • Rewards based on current performance enhance subsequent performance
  • Buying lunch to your staff would be a good way for rewarding
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11
Q

Programs use with Medicare part D:

A
  • Extra Help

- Rx Advantage

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12
Q

Limited Newly Eligible Transition Program

A

Ensure members with extra help who are not enrolled in Medicare D are still able to
obtain medications

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13
Q

Purposes of MTM

A
  • Increase patienr’s medication adherence
  • Decrease the adverse effects
  • Medication education
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14
Q

Poor management skills include all, EXCEPT

A

Improve of investment portfolio

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15
Q

Servant-Leaders

A
  • Have a deeper connection to their work that transcends power and money
  • Realize that they are not in total control but depend on others (vulnerable)
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16
Q

AWP

A

A list prices of what drug wholesaler charge pharmacies

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17
Q

Which of the following is NOT a type of variability that the customer brings to the system

A

Reasonable Variability

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18
Q

Which of the following are ways to empower employees

A
  • Share info and rewards based on the organization’s performance
  • Share knowledge that allows employees to understand and contribute to org perform.
  • Share power to make decisions that influence org. direction and perform.
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19
Q

Which of the following dimensions are used by customers to evaluate service encounter

A
  • Reliability

- Tangibles

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20
Q

Which of the following is NOT true

A

Every patient evaluates a good pharmacy service the same way

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21
Q

Service encounter is the interaction between

A

Service Organization, Service Provider, Customer

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22
Q

Which factors are significant in the successful functioning of an organization?

A
  • Job related stress
  • Employee satisfaction
  • Career progression and fairness in the workplace
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23
Q

Which of the following describes the relationship between purchasing and inventory control objectives?

A

These two objectives are not mutually exclusive. One can maximize both sets of objectives by purchasing items that will sell the fastest.

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24
Q

What of the following is not a goal of inventory management

A

To maximize the investment in inventory

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25
Q

Which of the following sources can be used to help identify patient and prescriber needs and wants?

A
  • Questionnaires completed by pharmacy patrons
  • Published lists of the Top 100 drugs prescribed

-Third-party formularies
[ All of the above ]

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26
Q

The purpose of an open-to-buy purchasing budget is to

A

Control the total dollar investment in inventory.

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27
Q

When selecting a supplier, the primary consideration should be the price of the products offered by the supplier because all suppliers have similar services and policies

A

False

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28
Q

The purpose of _______________ is to pool the buying power of independent pharmacies together in order to obtain better prices and discounts from suppliers

A

Central purchasing groups

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29
Q

When a pharmacy elects to participate in a buying group, which of the following is true?

A

It usually pays a monthly or annual fee to participate in the group.

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30
Q

Selecting the proper merchandise is more important that getting a price concession from a supplier on the wrong merchandise.

A

True

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31
Q

A wholesaler offers a 6% generic rebate to a pharmacy. This is an example of a

A

Volume Discount

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32
Q

Today, it is common for pharmacies to

A

Hire returned goods service companies to handle returned goods.

33
Q

When new merchandise is moved to a display space or put on the shelf, the person in charge of stocking should

A

Rotate the stock so that the new merchandise is at the rear and the old merchandise is near the front of each shelf.

34
Q

The practice of planning, organizing, and controlling inventory so that it contributes to the business’ profitability.

A

Inventory Management

35
Q

Costs of obsolescence, storage, deterioration, and other costs of having capital invested in inventory are known as

A

Carrying costs

36
Q

Controlling the inventory can help the pharmacy manager accomplish which of the following?

A

Keep costs down
Improve patron service
Increase cash flow
[ All of the above ]

37
Q

Inventory turnover rate (ITOR) is expressed as a ratio. Which of the following is the correct ratio?

A

Cost of goods sold/Average inventory

38
Q

Higher inventory turnover minimizes

A

Carrying Costs

39
Q

Inventory turnover has not increased in independent retail pharmacies in the past 5 years.

A

FALSE

40
Q

When the pharmacist decides to order 5 bottles of fluoxetine to have on hand just in case, the pharmacist is

A

Increasing inventory but decreasing cash available for other needs.

41
Q

Anticipatory stock is inventory that is kept on hand because of expected future demand.

A

TRUE

42
Q

Ordering direct from manufacturers should generally cause pharmacies to carry greater safety stock

A

TRUE

43
Q

The total costs of inventory include only the acquisition costs and stock-out costs.

A

FALSE

44
Q

Items with more erratic demand require

A

Larger Safety Stocks

45
Q

Which of the following is false?

A

Pharmacies are not using point-of-sale devices.

46
Q

Which type of inventory control system enables the inventory to be monitored at all times?

A

Perpetual

47
Q

When a pharmacy has a perpetual inventory system, it is not necessary for the pharmacy manager to monitor the inventory and make corrections of variances due to medications not received, outdated products, or fluctuations in supply and demand.

A

FALSE

48
Q

To maintain a perpetual inventory system, all purchases and sales must be entered into the computer system.

A

TRUE

49
Q

Which of the following are components of a prescription’s price?

A

-Ingredient cost
-Cost to dispense
-Net income
[All of the above]

50
Q

The amount that the pharmacy pays for a drug product is

A

Actual acquisition cost

51
Q

Costs that are shared by all departments in a pharmacy, such as rent and manager’s wages, are known as

A

Indirect costs

52
Q

Which is a direct cost to the prescription department

A

Prescription vials

53
Q

Wahoo Pharmacy’s lease stipulates that the monthly rent expense is calculated as 1% of monthly sales. In calculating service costs, rent should be

A

Allocated to the prescription department based on a sales ratio

54
Q

The full cost of providing a service includes

A
  • All direct costs

- The service’s fair share of indirect costs

55
Q

In calculating the cost of a session of diabetes-related counseling and monitoring, the costs of prescription vials and containers:

A

Should NOT be considered as a cost of the counseling and monitoring service

56
Q

The data for calculation of service costs should come from:

A

A pro forma income statement

57
Q

A pharmacy calculates its cost to dispense as $6.25. This means that the pharmacy must add $6.25 to the cost of the drug product dispense in order to:

A

Break even on operating the prescription department

58
Q

A lower price is most likely to result in lower demand for which of the following:

A

A coumadin education and monitoring service

59
Q

A penetration pricing strategy is used to

A

Maximize sales

60
Q

The differential cost of providing a service includes:

A

All direct costs

61
Q

. Consumers would be most sensitive to the price of which of the following

A

Hamburger

62
Q

The primary task of promotion is to persuade the potential customer to buy your product

A

FALSE

63
Q

Which of the following is not one of the classic “4-P’s” of Marketing

A 
[Positioning]
Price
Place
Product
Promotion
64
Q

Which of the following should be considered in developing a “target market”?

A
  • Age
  • Income
  • Education
  • Life style
    [All of the above]
65
Q

Which of the following is not true regarding the differences between products and
services?

A

[Services and products are tangible]

TRUE is:
-Products can be graded, services often cannot be.

  • Quality control is possible on products but difficult for services.
  • Services are usually perishable products can be stored.
66
Q

Service can also be a “Product” according to this lesson?

A

True

67
Q

“A map or representation of your world through which you experience it” is a definition of

A

Paradigm

68
Q

Of the following, which is NOT a good reason to give a “Senior citizen discount”

A

Pity for the elderly

69
Q

Which of the following is a reason a pharmacist might vary prices for identical goods?

A
  • Delivery costs
  • Frequency of customer buying
  • Different acquisition costs
  • . Costs of credit or third party costs
  • [ All are possible reasons]
70
Q

According to the lesson which of the following is the “ultimate place tactics”?

A

Delivery

71
Q

Advertising is synonymous with promotion

A

FALSE

72
Q

Institutional advertising is designed to increase sales of specific drug products

A

False

73
Q

Which of the following, according to this lesson, is a preferred positive for the
pharmacists in the community setting?

A

Your pharmacists: helping you take care of yourself

74
Q

A concept that describes the value to be offered is a definition of:

A

A service strategy

75
Q

Which of the following is essential for the voluntary exchange of values to take place?

A

Demand

76
Q

Which of the following is NOT a characteristic of services?

A
  • Intangible
  • Inseparable (from the provider)
  • Variable
  • Perishable
    [ All the above are characteristics of services ]
77
Q

In which phase of the Product/Service Life Cycle are new competitors most likely?

A

GROWTH

78
Q

Consumers’ prior expectations influence their satisfaction following a service encounter.

A

True

79
Q

Opinion leaders score high in which of the following on the Prospect Priority Index?

A

Influence

SA--PharmEcon (2 decks)

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