Test 3

Question 0

The ratio of the number of workers that had to be replaced in a given time period to the average number of workers

Answer 0

Turnover rate

Question 1

the personnel of a business or organization

Answer 1

Human resources

Question 2

the continued possession, use, or control of something

Answer 2

Retention

Question 3

The state of having many forms

Answer 3

Diversity

Question 4

Harassment (typically of a woman) in a workplace, or other professional or social situation, involving the making of unwanted sexual advances or obscene remarks

Answer 4

Sexual harrasment

Question 5

a business process outsourcing where an employer transfers all or part of its recruitment activities to an external services provider.

Answer 5

Recruiting process

Question 6

can be viewed as the process of assessing and recording staff performance for the purpose of making judgments about staff that lead to decisions

Answer 6

Performance appraisals

Question 7

Everybody within the company reviews your work.

Answer 7

360 degree review

Question 8

A compilation of the skills, education and experiences of current employees. Organizations use these inventories to assess their ability to meet certain company goals.

Answer 8

Skills inventory

Question 9

Programs that benefit employees

Answer 9

Employee Assistant Program (EAP)

Question 10

the study and practice of managing unionized - employment situations

Answer 10

Labor relations

Question 11

An organization of workers formed to protect and further their rights and interests; a labor union

Answer 11

Union

Question 12

Was a New Deal reform passed by Franklin Roosevelt: it was instrumental in preventing employers from interfering with workers’ unions and protests in the private sector.

Answer 12

Wagner Act

Question 13

A place of work where employers may hire nonunion workers who must join a labor union within an agreed time

Answer 13

Union shop

Question 14

cards signed by employees to indicate interest in having a union represent them

Answer 14

Authorization cards

Question 15

negotiation between an employer and a labor union usually on wages, hours, and working conditions

Answer 15

Collective bargaining

Question 16

an informal and confidential way for people to resolve disputes with the help of a neutral mediator who is trained to help people discuss their differences. The mediator does not decide who is right or wrong or issue a decision. Instead, the mediator helps the parties work out their own solutions to problems.

Answer 16

Mediation

Question 17

a technique for the resolution of disputes outside of the court system

Answer 17

Arbitration

Question 18

A temporary work stoppage aimed at forcing management to accept union demands.

Answer 18

Strike

Question 19

withdraw from social relations with (a country, organization, or person) as a protest.

Answer 19

Boycott

Question 20

a real or imagined wrong or other cause for complaint or protest, esp. unfair treatment.

Answer 20

Grievance

Question 21

the selling of goods in large quantities to be retailed by others.

Answer 21

Whole sale

Question 22

are part of an integrated system called the supply chain. They purchase goods or products in large quantities from manufacturers directly or through a wholesale, and then sell smaller quantities to the consumer for a profit.

Answer 22

Retailer

Question 23

An agent who supplies goods to stores and other business that sell to consumers.

Answer 23

Distributor

Question 24

a retail establishment with a building open to the public which offers a wide range of consumer goods such as clothing, housewares, furniture and appliances.

Answer 24

Department store

Question 25

A store that sells only one kind of merchandise

Answer 25

Specially store

Question 26

The five most important factors needed to provide an effective distribution operation and provide for customer satisfaction in the distributor’s service. The factors are: inventory; warehousing facilities; communications; packaging and transport

Answer 26

Distribution mix

Question 27

a situation in which channel partners have to compete against one another or the vendor’s internal sales department.

Answer 27

Channel conflict

Question 28

the handling of the details of an operation.

Answer 28

Logistics

Question 29

a principle part of the entire order fulfillment process. They are usually thought of as being demand driven.

Answer 29

Distribution center

Question 30

the system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results

Answer 30

Accounting

Question 31

An inspection, correction, and verification of business accounts, conducted by an independent qualified accountant.

Answer 31

Audit

Question 32

a U.S. federal law that set new or enhanced standards for all U.S. public company boards, management, and public accounting firms

Answer 32

Sarbanes Oxley

Question 33

• are the common set of principles, standards and procedures that companies use to compile their financial statements

Answer 33

GAAP: (General Accepted Accounting Principles)

Question 34

A statement of a firm’s financial position on a particular date; also known as a statement of financial position.

Answer 34

Balance sheet

Question 35

an accounting of income and expenses that indicates a firms net profit or loss over a certain period of time, usually one year

Answer 35

Income statement

Question 36

a financial obligation for which a company is responsible for, such as debts.

Answer 36

Liabilities

Question 37

costs that go into creating the products that a company sells

Answer 37

Cost of goods sold

Question 38

Central bank of the US

Answer 38

Federal reserve

Question 39

insures deposits in banks and thrift institutions for at least $250,000, started after the Great depression

Answer 39

FDIC - Federal deposit insurance corporation

Question 40

The Federal national mortgage association was founded in 1938 during the Great Depression as part of the New Deal. It is a government-sponsored enterprise, though it has been a publicly traded company since 1968.

Answer 40

Fannie Mae

Question 41

A security issued by the Federal Home Loan Mortgage Corporation and secured by a pool of conventional home mortgages.

Answer 41

Freddie Mac

Question 42

a type of bank that provides services such as accepting deposits, making business loans, and offering basic investment products

Answer 42

Commercial bank

Question 43

is a company that assigns the rating of the debtor’s ability to pay back the debt by making timely interest payments

Answer 43

Credit rating agency - CRA

Question 44

mortgage that is given to the customers who pose little to no financial risk for the lender. The prime mortgage loans do have low default risk and are made to borrowers with good credit records and a monthly income

Answer 44

Prime mortgage

Question 45

period of temporary economic decline during which trade and industrial activity are reduced

Answer 45

Recession

Question 46

A legislation passed in 2010 aimed at reforming the banking industry and offering consumers greater protection

Answer 46

Dodd-Frank act