Pme 2 Final

Front 1

List 6 characteristics of a successful business owner

Back 1

Inventive;
follow through with their plans;
respect money;
possess considerable expertise in chosen field and very experienced in several others;
good oral and written communication skills;
personable;
positive thinkers;
self-disciplined;
determined;
persistent;
service-oriented

Front 2

Choose one of the advantages of being self-employed:

a. Unsteady income.

b. Potential for loneliness.

c. Potential for failure.

d. Sense of achievement.

Back 2

d. Sense of achievement.

Front 3

Choose one of the disadvantages of being self-employed:

a. Independence.

b. Tax advantages.

c. Financial risk.

d. Creative expression

Back 3

c. Financial risk.

Front 4

Good management usually has the following characteristics:

a. Seeks counsel and evaluates risk.

b. Is spontaneous and isn't concerned about any deficiencies in necessary business skills.

c. Ignores obstacles and proceeds with abandon.

d. a and c.

Back 4

a. Seeks counsel and evaluates risk

Front 5

Choose the statement that represents one reason you may want to choose to work for someone else rather than build your own business.

a. If I make up my mind to do something, I don't let anything stop me.

b. I just take things as they come. I don't put myself out until I have to.

c. I like to take charge of things and see them through to the end.

d. I like to have a plan before I start. I'm usually the one to line things up.

Back 5

b. I just take things as they come. I don't put myself out until I have to.

Front 6

What is the definition of PRIORITIES?

a. statements of intention that are connected with values and are less general than purpose.

b. specific events or tasks that have a definite completion.

c. a general statement of direction

Back 6

a. statements of intention that are connected with values and are less general than purpose

Front 7

What is the definition of purpose?

a. statements of intention that are connected with values and are less general than purpose.

b. specific events or tasks that have a definite completion.

c. a general statement of direction

Back 7

c. a general statement of direction

Front 8

What is the definition of GOALS?

a. statements of intention that are connected with values and are less general than purpose.

b. specific events or tasks that have a definite completion.

c. a general statement of direction

Back 8

b.specific events or tasks that have a definite completion

Front 9

Specific, attainable, measurable things or accomplishments that you set and make a commitment to achieve are termed:

a. Goals.

b. Priorities.

c. Benefits.

d. Affirmations.

Back 9

a. Goals

Front 10

If your goal is SMARTER, it is:

a. Small, Masterful, Artful, Reasonable, Telling, Explainable, Rigorous.

b. Specific, Measurable, Attainable, Realistic, Time lined, Enthusiastic, Rewarding.

c. Straightforward, Meaningful, Active, Resonant, Tangible, Expansive, Reasonable.

d. Significant, Memorable, Achievable, Responsible, Timely, Enjoyable, Refined.

Back 10

b. Specific, Measurable, Attainable, Realistic, Time lined, Enthusiastic, Rewarding.

Front 11

Which of the following goals is written using correct goal setting techniques?

a. I will never eat chocolate ice cream again. I will lose all the weight I need to and never gain it back.

b. I enjoy eating a diet that includes plenty of fruits and vegetables. It is now the first of June and I weigh 160 pounds. I weigh 140 pounds by the first of October.

c. I am trying to eat a diet that includes plenty of fruits and vegetables. It is now the first of June and I weigh 130 pounds. I will try to lose five more pounds by September.

d. I enjoy eating a diet that includes plenty of fruits and vegetables. It is now the first of June and I weigh 180 pounds. I will lose twenty pounds in one month.

Back 11

b. I enjoy eating a diet that includes plenty of fruits and vegetables. It is now the first of June and I weigh 160 pounds. I weigh 140 pounds by the first of October.

Front 12

The most common means of self-sabotage for someone who owns a small business is:

a. Determination.

b. Poor self-image.

c. Procrastination.

d. Motivation.

Back 12

c. Procrastination.

Front 13

Reframing, task breakdown, and delegation are:

a. Three different management styles.

b. Techniques for overcoming procrastination.

c. Three factors in determining independent contractor status.

d. The basic steps needed to accomplish any large project.

Back 13

b. Techniques for overcoming procrastination

Front 14

Time management is about:

a. Effectively using an appointment book.

b. Creating more time.

c. Scheduling management.

d. Attitudes and behaviors relating to time

Back 14

d. Attitudes and behaviors relating to time.

Front 15

Which of the following reflects the Pareto principle?

a. 80% of your activities produce 20% of your results.

b. 20% of your activities produce 100% of your results.

c. 25% of your activities produce 80% of your results.

d. 25% of your activities produce 75% of your results.

Back 15

a. 80% of your activities produce 20% of your results.

Front 16

To develop your risk-taking abilities, you should:

a. Go to the race track and place a small bet, increasing the amount of money you wager each time.

b. Learn how to do everything to perfection.

c. Start with low-risk situations that require you to use creative problem solving, then build from there, at the same time working to enhance your self image.

d. Force yourself to plunge right in and take risks whether you feel good about them or not

Back 16

c.Start with low-risk situations that require you to use creative problem solving, then build from there, at the same time working to enhance your self image.

Front 17

Abraham Maslow's 8-step hierarchy of needs are:

Back 17

Physiological;
safety;
social;
esteem;
cognitive;
aesthetic;
self-actualization;
transcendence.

Front 18

The key to career longevity is:

a .Good financing.

b. Remaining in the same location.

c. Referrals.

d. A solid base of clients.

Back 18

d. A solid base of clients.

Front 19

Scarcity Consciousness pertains to:

a. Poverty thinking and burn out.

b. Not having enough clients.

c. Needing to be less visible in the industry/market.

d. None of the above.

Back 19

a. Poverty thinking and burn out.

Front 20

Attending workshops, reading books, taking courses, and participation in classes are all examples of _______ __________.

Back 20

Continuing Education

Front 21

In regards to research:

a. Everything you read in print is true.

b. Research is only important to doctors, scientists and insurance companies.

c. The Internet offers everything I need to know in the area of research.

d. Research is an important endeavor for everyone concerned with wellness because it demonstrates areas of consideration that we may not have thought of before and adds credibility to alternative health care.

Back 21

d. Research is an important endeavor for everyone concerned with wellness because it demonstrates areas of consideration that we may not have thought of before and adds credibility to alternative health care.

Front 22

List three of the types of advisors a business should have

Back 22

Lawyer;
accountant;
banker;
business consultant/coach

Front 23

Professional and Peer Group are two examples of what?

a. Coaching.

b. Supervision.

c. Management.

d. Mentoring.

Back 23

b. Supervision.

Front 24

The benefits of belonging to a professional organization are:

a. Liability insurance, support from peers, professional publications, legal support.

b. Information on continuing education, networking, legitimize public image of profession.

c. Increase credibility as a practitioner, group rates on health insurance, classified ads.

d. None of the above.

e. All of the above.

Back 24

e. All of the above.

Front 25

Which of the following is not a common area professionals experience ethical dilemmas:

a. Personal values conflict.

b. Practicing beyond their scope.

c. Financial impropriety.

d. Breaking confidentiality.

e. Violation of city/state laws

Back 25

a. Personal values conflict.

Front 26

When a practitioner is having a difficult time discerning the issues involved in an ethical dilemma a professional response would be to:

a. Ask the client involved to decide.

b. Go with what feels right.

c. Participate in peer supervision.

d. Flip a coin.

Back 26

c. Participate in peer supervision.

Front 27

The “Three C's” of a professional business image are:

a. Cutthroat, cunning and creative.

b. Condescending, composed and competent.

c. Confidence, competence and compassion.

d. Caring, calculating and considerate.

Back 27

c. Confidence, competence and compassion.

Front 28

How much time do you have to make a first impression?

a. Between 1-5 seconds.

b. Between 4-20 seconds.

c. Between 5-30 seconds.

d. Between 10-60 seconds.

Back 28

b. Between 4-20 seconds

Front 29

List five techniques to build rapport:

Back 29

Correctly pronounce a client's name;
smile;
shake hands;
maintain eye contact;
allow ample time for clients to talk;
speak with enthusiasm;
be punctual;
listen;
ask light personal questions

Front 30

List five of the fundamentals of good communication:

Back 30

Honesty;
objectivity;
being considerate of the other person's communication skills or lack thereof;
taking into account the other's mental, physical, and emotional state;
asking questions;
listening;
communicating on an equal level

Front 31

Active listening includes the following:

a. Convey interest with non-verbal communication.

b. Take notes throughout the conversation.

c. Pay attention to the other's verbal and non-verbal communication.

d. a & c.

e. All of the above.

Back 31

d. a & c.

Front 32

The major objective for maintaining client files are:

a. Record keeping for the IRS.

b. Keeping well informed about the client.

c. Insurance billing.

d. All the above.

e. b and c.

Back 32

d. All the above.

Front 33

Communication impact is approximately

a. 15 percent content, 25 percent voice, 60 percent non-verbal information.

b. 20 percent content, 25 percent voice, 55 percent non-verbal information.

c. 10 percent content, 35 percent voice, 55 percent non-verbal information.

d. 15 percent content, 40 percent voice, 45 percent non-verbal information.

Back 33

c. 10 percent content, 35 percent voice, 55 percent non-verbal information.

Front 34

List three benefits of documentation:

Back 34

Provides historical perspective,
protects you in case of legal action,
demonstrates professionalism;
proves progress

Front 35

In charting, what does the acronym SOAP stand for?

Back 35

Subjective;
Objective;
Assessment;
Plan

Front 36

The following best describes the use of client sign-in sheets:

a. Verifies that a client was at your office.

b. Provides a means to double-check client information.

c. Documents insurance reimbursement claims.

d. Demonstrates professionalism.

Back 36

a. Verifies that a client was at your office.

Front 37

When do you ask clients to sign medical release and consent forms?

a. When it's convenient to the client.

b. In the beginning of the therapeutic relationship when the health history and intake forms are filled out.

c. That is determined at the initial interview.

d. They are only filled out if the therapist is working with a doctor and/or insurance companies.

Back 37

c. That is determined at the initial interview.

Front 38

List the four major stages of a client/therapist interview:

Back 38

Initiation;
Exploration;
Planning;
Closure

Front 39

Working at spas and salons provides you with:

a. Less emotional investment in client issues.

b. Doing a variety of treatments.

c. Reduction in possibility of repetitive stress syndrome.

d. All of the above

Back 39

d. All of the above

Front 40

Medical spas cater to:

a. The luxury market.

b. Less educated clientele.

c. Insurance companies.

d. Pharmaceutical companies.

Back 40

a. The luxury market

Front 41

An example of a Wellness Center specialty is:

a. Acupuncture.

b. Chiropractic.

c. Massage.

d. Pain management.

e. All of the above.

Back 41

e. All of the above.

Front 42

Give four ways of protecting and increasing bookings when working at a salon or spa:

Back 42

Have clear procedures for booking sessions;
have business cards/brochures on display at reception desk;
have receptionist send brochure to new clients;
set clear cancellation policies;
develop a script for the receptionist;
personally call all the people who inquired about your services.

Front 43

Informational interviews allow you to:
a. Formally interview with a prospective employer.

b. Gain valuable insight.

c. Challenge an employer s policies.

d. Obtain a job guarantee upon graduation from school.

Back 43

b. Gain valuable insight.

Front 44

The two resume formats are________________ and ________________

Back 44

functional and chronological

Front 45

Resume cover letters have 3 sections:

a. Introduction, data, summary.

b. Cover letter, resume, interview.

c. Opening, body, close.

d. Application, interview, job offer.

Back 45

c. Opening, body, close.

Front 46

Being confident is one of the keys to interviewing success, but the most important quality of all is what?

Back 46

Be prepared.

Front 47

List three ways of presenting yourself in writing for an employment position:

Back 47

Chronological Resume;
Functional Resume;
Targeted Personal Letter.

Front 48

What is a functional resume and when is it used?

a. The information in each category is listed in chronological order, and is used when you wish to emphasize your talents, abilities and potential.

b. The contents of each category are grouped by relevance to the job, and is used when you wish to emphasize a good work history.

c. The information in each category is listed in chronological order, and is used when you wish to emphasize a good work history.

d. The contents of each category are grouped by relevance to the job, and is used when you wish to emphasize your talents, abilities and potential.

Back 48

d. The contents of each category are grouped by relevance to the job, and is used when you wish to emphasize your talents, abilities and potential.

Front 49

Targeted personal letters should:

a. Be no greater than 2 pages.

b. Include all your past experience.

c. Focus on your abilities and what you can offer to the job.

d. Not be used unless you have specific experience and training.

Back 49

c. Focus on your abilities and what you can offer to the job.

Front 50

List three steps you can take to maximize your safety in private practice:

Back 50

Work when someone else is in the building;
lock treatment room door;
if alone, call a friend while client is nearby and tell friend you will call after the session;
at night have area well-lit;
keep car in good condition/adequately fueled

Front 51

Which does not describe the attributes of a business association:

a. Keeping separate business identities.

b. Sharing resources and expenses.

c. Jointly-owned business sharing profits or losses.

d. a and b.

Back 51

c. Jointly-owned business sharing profits or losses.

Front 52

A written association agreement should include the following:

a. Procedures for conflict resolution.

b. Clarification of roles, goals and expectations.

c. Dissolution terms.

d. All of the above.

e. a and c.

Back 52

d. All of the above.

Front 53

To avoid financial entanglements in an association:

a. Everyone should have separate leases.

b. Draw up contracts specifying each person's financial obligations.

c. Each person needs an individual budget and financial projection.

d. a and c.

Back 53

b. Draw up contracts specifying each person's financial obligations

Front 54

Name three of the biggest problems in having products available for sale when working with associates:

Back 54

Choosing the products;
determining who is responsible for sales;
how to calculate profits between practitioners

Front 55

In financing your business start-up or expansion, you would do well to be wary of finding money through:

a. Government grants or small business loans.

b. Loans from your local bank.

c. Companies that promise, for a fee paid in advance, to find you venture capital.

d. Loans from friends and/or family.

Back 55

c. Companies that promise, for a fee paid in advance, to find you venture capital.

Front 56

What are four common types of business entities?

Back 56

Sole Proprietorship;
Partnership;
Corporations;
Limited Liability Companies

Front 57

What is a Fictitious Name Statement and when is it needed?

Back 57

A Fictitious Name Statement is a form, often referred to as a DBA form, that a practitioner would use if they designate a business name other than their legal personal name.

Front 58

Having a home-based business can be convenient; however, some disadvantages can include:

a. Lack of discipline.

b. Zoning restrictions.

c. Family members not respecting boundaries.

d. Easy distractions.

e. All of the above.

Back 58

e. All of the above.

Front 59

What are the five elements involved in office design?

Back 59

: Ambiance; professionalism; visual stimuli; sensations; layout.

Front 60

Which of the following allows the collection and remittance of sales tax?

a. Business License.

b. Merchant/Vendor License.

c. Transaction Privilege License.

d. Occupational License.

Back 60

c. Transaction Privilege License.

Front 61

What is the definition of: Transaction Privilege License

a. A building inspection is required before it can be issued.

b Concerned with the regulation of specific industries and professions.

c. Allows the collection and remittance of sales tax.

d. Allows you to do business.
e. Shows that your business fits in with the neighborhood.

Back 61

Allows the collection and remittance of sales tax

Front 62

What is the definition of: Building Safety Permit

a. A building inspection is required before it can be issued.

b Concerned with the regulation of specific industries and professions.

c. Allows the collection and remittance of sales tax.

d. Allows you to do business.

e. Shows that your business fits in with the neighborhood.

Back 62

A building inspection is required before it can be issued

Front 63

What is the definition of: Business License

a. A building inspection is required before it can be issued.

b Concerned with the regulation of specific industries and professions.

c. Allows the collection and remittance of sales tax.

d. Allows you to do business.

e. Shows that your business fits in with the neighborhood.

Back 63

Allows you to do business

Front 64

What is the definition of: Planning and Zoning Permits

a. A building inspection is required before it can be issued.

b Concerned with the regulation of specific industries and professions.

c. Allows the collection and remittance of sales tax.

d. Allows you to do business.

e. Shows that your business fits in with the neighborhood.

Back 64

Shows that your business fits in with the neighborhood

Front 65

What is the definition of: Occupational License

a. A building inspection is required before it can be issued.

b Concerned with the regulation of specific industries and professions.

c. Allows the collection and remittance of sales tax.

d. Allows you to do business.

e. Shows that your business fits in with the neighborhood.

Back 65

Concerned with the regulation of specific industries and professions

Front 66

The purpose of a planning and zoning permit is to:

a. Allow you to collect and remit sales tax.

b. Indicate your location is safe and complies with fire and building codes.

c. Show your location conforms with area plans and has adequate parking.

d. Permit you to work in a specific industry because you comply with that profession's regulations.

Back 66

c. Show your location conforms with area plans and has adequate parking

Front 67

List four of the major types of insurance that a small business owner should consider obtaining.

Back 67

Small business;
liability,
partnership;
general liability;
malpractice; a
automobile;
fire and theft;
personal disability;
medical insurance;
workers' compensation.

Front 68

What is the description of: Automobile Insurance

a.Protects the individual from loss of income if they are unable to work due to long-term illness or injury.

b. Helps cover the cost of medical bills, especially hospitalization, serious injury or illness.

c. Provides medical and liability insurance to the driver and any passengers.

d. Is required if you have employees.

e. Covers the cost of fixtures, furniture, equipment, products and supplies.

f. Covers costs of injuries and litigation resulting from injuries sustained on the owner's property.

g. Covers the medical costs for the employee if they are injured on the job.

h. Covers the vehicle and its contents, regardless of who is at fault.

i. Protects against lawsuits arising from the actions or omissions of a business partner.

j. Protects the therapist from lawsuits filed by a client because of injury or loss that results from negligence or substandard performance.

Back 68

Provides medical and liability insurance to the driver and any passengers

Covers the vehicle and its contents, regardless of who is at fault.

Front 69

What is the description of: Disability Insurance

a.Protects the individual from loss of income if they are unable to work due to long-term illness or injury.

b. Helps cover the cost of medical bills, especially hospitalization, serious injury or illness.

c. Provides medical and liability insurance to the driver and any passengers.

d. Is required if you have employees.

e. Covers the cost of fixtures, furniture, equipment, products and supplies.

f. Covers costs of injuries and litigation resulting from injuries sustained on the owner's property.

g. Covers the medical costs for the employee if they are injured on the job.

h. Covers the vehicle and its contents, regardless of who is at fault.

i. Protects against lawsuits arising from the actions or omissions of a business partner.

j. Protects the therapist from lawsuits filed by a client because of injury or loss that results from negligence or substandard performance.

Back 69

Protects the individual from loss of income if they are unable to work due to long-term illness or injury.

Front 70

What is the description of: Fire and Theft Insurance

a.Protects the individual from loss of income if they are unable to work due to long-term illness or injury.

b. Helps cover the cost of medical bills, especially hospitalization, serious injury or illness.

c. Provides medical and liability insurance to the driver and any passengers.

d. Is required if you have employees.

e. Covers the cost of fixtures, furniture, equipment, products and supplies.

f. Covers costs of injuries and litigation resulting from injuries sustained on the owner's property.

g. Covers the medical costs for the employee if they are injured on the job.

h. Covers the vehicle and its contents, regardless of who is at fault.

i. Protects against lawsuits arising from the actions or omissions of a business partner.

j. Protects the therapist from lawsuits filed by a client because of injury or loss that results from negligence or substandard performance.

Back 70

Covers the cost of fixtures, furniture, equipment, products and supplies

Front 71

What is the description of: Health Insurance

a.Protects the individual from loss of income if they are unable to work due to long-term illness or injury.

b. Helps cover the cost of medical bills, especially hospitalization, serious injury or illness.

c. Provides medical and liability insurance to the driver and any passengers.

d. Is required if you have employees.

e. Covers the cost of fixtures, furniture, equipment, products and supplies.

f. Covers costs of injuries and litigation resulting from injuries sustained on the owner's property.

g. Covers the medical costs for the employee if they are injured on the job.

h. Covers the vehicle and its contents, regardless of who is at fault.

i. Protects against lawsuits arising from the actions or omissions of a business partner.

j. Protects the therapist from lawsuits filed by a client because of injury or loss that results from negligence or substandard performance.

Back 71

Helps cover the cost of medical bills, especially hospitalization, serious injury or illness.

Front 72

What is the description of: Liability Insurance

a.Protects the individual from loss of income if they are unable to work due to long-term illness or injury.

b. Helps cover the cost of medical bills, especially hospitalization, serious injury or illness.

c. Provides medical and liability insurance to the driver and any passengers.

d. Is required if you have employees.

e. Covers the cost of fixtures, furniture, equipment, products and supplies.

f. Covers costs of injuries and litigation resulting from injuries sustained on the owner's property.

g. Covers the medical costs for the employee if they are injured on the job.

h. Covers the vehicle and its contents, regardless of who is at fault.

i. Protects against lawsuits arising from the actions or omissions of a business partner.

j. Protects the therapist from lawsuits filed by a client because of injury or loss that results from negligence or substandard performance.

Back 72

Covers costs of injuries and litigation resulting from injuries sustained on the owner's property.

Front 73

What is the description of: Malpractice Insurance

a.Protects the individual from loss of income if they are unable to work due to long-term illness or injury.

b. Helps cover the cost of medical bills, especially hospitalization, serious injury or illness.

c. Provides medical and liability insurance to the driver and any passengers.

d. Is required if you have employees.

e. Covers the cost of fixtures, furniture, equipment, products and supplies.

f. Covers costs of injuries and litigation resulting from injuries sustained on the owner's property.

g. Covers the medical costs for the employee if they are injured on the job.

h. Covers the vehicle and its contents, regardless of who is at fault.

i. Protects against lawsuits arising from the actions or omissions of a business partner.

j. Protects the therapist from lawsuits filed by a client because of injury or loss that results from negligence or substandard performance.

Back 73

Protects the therapist from lawsuits filed by a client because of injury or loss that results from negligence or substandard performance.

Front 74

What is the description of: Workers' Compensation Insurance

a.Protects the individual from loss of income if they are unable to work due to long-term illness or injury.

b. Helps cover the cost of medical bills, especially hospitalization, serious injury or illness.

c. Provides medical and liability insurance to the driver and any passengers.

d. Is required if you have employees.

e. Covers the cost of fixtures, furniture, equipment, products and supplies.

f. Covers costs of injuries and litigation resulting from injuries sustained on the owner's property.

g. Covers the medical costs for the employee if they are injured on the job.

h. Covers the vehicle and its contents, regardless of who is at fault.

i. Protects against lawsuits arising from the actions or omissions of a business partner.

j. Protects the therapist from lawsuits filed by a client because of injury or loss that results from negligence or substandard performance.

Back 74

Covers the medical costs for the employee if they are injured on the job.

Is required if you have employees.

Front 75

What is the description of: Partnership Insurance.

a.Protects the individual from loss of income if they are unable to work due to long-term illness or injury.

b. Helps cover the cost of medical bills, especially hospitalization, serious injury or illness.

c. Provides medical and liability insurance to the driver and any passengers.

d. Is required if you have employees.

e. Covers the cost of fixtures, furniture, equipment, products and supplies.

f. Covers costs of injuries and litigation resulting from injuries sustained on the owner's property.

g. Covers the medical costs for the employee if they are injured on the job.

h. Covers the vehicle and its contents, regardless of who is at fault.

i. Protects against lawsuits arising from the actions or omissions of a business partner.

j. Protects the therapist from lawsuits filed by a client because of injury or loss that results from negligence or substandard performance.

Back 75

Protects against lawsuits arising from the actions or omissions of a business partner.

Front 76

Which of the following is NOT considered a viable strategy for setting fees?

a. Find out what the standard rate is in your area and set yours substantially lower so that you can get a larger share of the market.

b. Offer something that is unique, in demand, and without competition, and set a very high fee.

c. Set a slightly higher fee than the going rate but always offer it at a “discount” price.

d. Research the going rate for your industry in your area, and make your fee the same.

Back 76

c. Set a slightly higher fee than the going rate but always offer it at a “discount” price.

Front 77

To infuse more income into your bank account and encourage people to book multiple sessions, utilize:

a. Bartering.

b. Coupons.

c. Discounts.

d. Prepaid Package Plans.

Back 77

d. Prepaid Package Plans.

Front 78

Which of the following is the best way to handle an increase your fees?

a. Do not tell your clients about the increase in fees until the end of their session so they can not change their minds.

b. Tell your clients at least two weeks in advance about any fee changes. Allow them to reserve a series of appointments at the old rate if they do so before the new fee takes effect.

c. Always raise your fees at least 15%, but only raise them once a year. Be sure to give your clients plenty of advance notice.

d. Never raise your fees more than a few percent at a time, but raise them at least twice a year. Be sure to notify your clients well in advance.

Back 78

b. Tell your clients at least two weeks in advance about any fee changes. Allow them to reserve a series of appointments at the old rate if they do so before the new fee takes effect.

Front 79

Name three functions a business plan serves in increasing your chances of success:

Back 79

Declare goals and intentions;
Written summary of what is to be accomplished;
Overview of how you organize and use resources to attain goals.

Front 80

A business plan does the following:

a. Minimizes risks.

b. Evaluates the marketplace.

c. Keeps you focused and provides a means to evaluate your progress.

d. All of the above.

Back 80

d. All of the above.

Front 81

A business plan serves in increasing your chances of success by:

a. Declaring goals and intentions.

b. Summarizing what is to be accomplished.

c. Organizing resources to attain goals.

d. All of the above.

Back 81

d. All of the above.

Front 82

What is a cover page?

a. Lists page number references to each section.

b.Three page or less document detailing the highlights of the plan.

c. Income potential, service fees, operations budget, funding sources and financial forecast.

d. Addresses and phone numbers of relevant financial and business contacts.

e. Addresses and phone numbers of the owner and business.

f. Contingency plans for potential set backs.

g. History, mission statement, services, products, location and unique features.

h. Methods for implementation.

i. Introductory page to the plan.

j. Image, target markets, competition analysis, strategic action plan and budget.

k. Career plan description including long range and short range goals.

l. Management qualifications, policies and procedures, licenses and accounting control.

Back 82

Introductory page to the plan.

Front 83

What is a Table of contents?

a. Lists page number references to each section.

b.Three page or less document detailing the highlights of the plan.

c. Income potential, service fees, operations budget, funding sources and financial forecast.

d. Addresses and phone numbers of relevant financial and business contacts.

e. Addresses and phone numbers of the owner and business.

f. Contingency plans for potential set backs.

g. History, mission statement, services, products, location and unique features.

h. Methods for implementation.

i. Introductory page to the plan.

j. Image, target markets, competition analysis, strategic action plan and budget.

k. Career plan description including long range and short range goals.

l. Management qualifications, policies and procedures, licenses and accounting control.

Back 83

Lists page number references to each section.

Front 84

What is a Owner's statement?

a. Lists page number references to each section.

b.Three page or less document detailing the highlights of the plan.

c. Income potential, service fees, operations budget, funding sources and financial forecast.

d. Addresses and phone numbers of relevant financial and business contacts.

e. Addresses and phone numbers of the owner and business.

f. Contingency plans for potential set backs.

g. History, mission statement, services, products, location and unique features.

h. Methods for implementation.

i. Introductory page to the plan.

j. Image, target markets, competition analysis, strategic action plan and budget.

k. Career plan description including long range and short range goals.

l. Management qualifications, policies and procedures, licenses and accounting control.

Back 84

Addresses and phone numbers of the owner and business

Front 85

What is a Executive summary?

a. Lists page number references to each section.

b.Three page or less document detailing the highlights of the plan.

c. Income potential, service fees, operations budget, funding sources and financial forecast.

d. Addresses and phone numbers of relevant financial and business contacts.

e. Addresses and phone numbers of the owner and business.

f. Contingency plans for potential set backs.

g. History, mission statement, services, products, location and unique features.

h. Methods for implementation.

i. Introductory page to the plan.

j. Image, target markets, competition analysis, strategic action plan and budget.

k. Career plan description including long range and short range goals.

l. Management qualifications, policies and procedures, licenses and accounting control.

Back 85

Three page or less document detailing the highlights of the plan

Front 86

What is a Purpose, priorities and goals?

a. Lists page number references to each section.

b.Three page or less document detailing the highlights of the plan.

c. Income potential, service fees, operations budget, funding sources and financial forecast.

d. Addresses and phone numbers of relevant financial and business contacts.

e. Addresses and phone numbers of the owner and business.

f. Contingency plans for potential set backs.

g. History, mission statement, services, products, location and unique features.

h. Methods for implementation.

i. Introductory page to the plan.

j. Image, target markets, competition analysis, strategic action plan and budget.

k. Career plan description including long range and short range goals.

l. Management qualifications, policies and procedures, licenses and accounting control.

Back 86

Career plan description including long range and short range goals.

Front 87

What is a Business description?

a. Lists page number references to each section.

b.Three page or less document detailing the highlights of the plan.

c. Income potential, service fees, operations budget, funding sources and financial forecast.

d. Addresses and phone numbers of relevant financial and business contacts.

e. Addresses and phone numbers of the owner and business.

f. Contingency plans for potential set backs.

g. History, mission statement, services, products, location and unique features.

h. Methods for implementation.

i. Introductory page to the plan.

j. Image, target markets, competition analysis, strategic action plan and budget.

k. Career plan description including long range and short range goals.

l. Management qualifications, policies and procedures, licenses and accounting control.

Back 87

History, mission statement, services, products, location and unique features

Front 88

What is a marketing?

a. Lists page number references to each section.

b.Three page or less document detailing the highlights of the plan.

c. Income potential, service fees, operations budget, funding sources and financial forecast.

d. Addresses and phone numbers of relevant financial and business contacts.

e. Addresses and phone numbers of the owner and business.

f. Contingency plans for potential set backs.

g. History, mission statement, services, products, location and unique features.

h. Methods for implementation.

i. Introductory page to the plan.

j. Image, target markets, competition analysis, strategic action plan and budget.

k. Career plan description including long range and short range goals.

l. Management qualifications, policies and procedures, licenses and accounting control.

Back 88

Image, target markets, competition analysis, strategic action plan and budget.

Front 89

What is a Risk assessment?

a. Lists page number references to each section.

b.Three page or less document detailing the highlights of the plan.

c. Income potential, service fees, operations budget, funding sources and financial forecast.

d. Addresses and phone numbers of relevant financial and business contacts.

e. Addresses and phone numbers of the owner and business.

f. Contingency plans for potential set backs.

g. History, mission statement, services, products, location and unique features.

h. Methods for implementation.

i. Introductory page to the plan.

j. Image, target markets, competition analysis, strategic action plan and budget.

k. Career plan description including long range and short range goals.

l. Management qualifications, policies and procedures, licenses and accounting control.

Back 89

Contingency plans for potential set backs.

Front 90

What is a Financial analysis?

a. Lists page number references to each section.

b.Three page or less document detailing the highlights of the plan.

c. Income potential, service fees, operations budget, funding sources and financial forecast.

d. Addresses and phone numbers of relevant financial and business contacts.

e. Addresses and phone numbers of the owner and business.

f. Contingency plans for potential set backs.

g. History, mission statement, services, products, location and unique features.

h. Methods for implementation.

i. Introductory page to the plan.

j. Image, target markets, competition analysis, strategic action plan and budget.

k. Career plan description including long range and short range goals.

l. Management qualifications, policies and procedures, licenses and accounting control.

Back 90

Income potential, service fees, operations budget, funding sources and financial forecast.

Front 91

What is a Operations?

a. Lists page number references to each section.

b.Three page or less document detailing the highlights of the plan.

c. Income potential, service fees, operations budget, funding sources and financial forecast.

d. Addresses and phone numbers of relevant financial and business contacts.

e. Addresses and phone numbers of the owner and business.

f. Contingency plans for potential set backs.

g. History, mission statement, services, products, location and unique features.

h. Methods for implementation.

i. Introductory page to the plan.

j. Image, target markets, competition analysis, strategic action plan and budget.

k. Career plan description including long range and short range goals.

l. Management qualifications, policies and procedures, licenses and accounting control.

Back 91

Management qualifications, policies and procedures, licenses and accounting control.

Front 92

What is a Success strategies?

a. Lists page number references to each section.

b.Three page or less document detailing the highlights of the plan.

c. Income potential, service fees, operations budget, funding sources and financial forecast.

d. Addresses and phone numbers of relevant financial and business contacts.

e. Addresses and phone numbers of the owner and business.

f. Contingency plans for potential set backs.

g. History, mission statement, services, products, location and unique features.

h. Methods for implementation.

i. Introductory page to the plan.

j. Image, target markets, competition analysis, strategic action plan and budget.

k. Career plan description including long range and short range goals.

l. Management qualifications, policies and procedures, licenses and accounting control.

Back 92

Methods for implementation.

Front 93

What is a References ?

a. Lists page number references to each section.

b.Three page or less document detailing the highlights of the plan.

c. Income potential, service fees, operations budget, funding sources and financial forecast.

d. Addresses and phone numbers of relevant financial and business contacts.

e. Addresses and phone numbers of the owner and business.

f. Contingency plans for potential set backs.

g. History, mission statement, services, products, location and unique features.

h. Methods for implementation.

i. Introductory page to the plan.

j. Image, target markets, competition analysis, strategic action plan and budget.

k. Career plan description including long range and short range goals.

l. Management qualifications, policies and procedures, licenses and accounting control.

Back 93

Addresses and phone numbers of relevant financial and business contacts.

Front 94

The ultimate purpose of the Risk Assessment section of a business plan is to:

a. Generate a contingency plan to counteract the most significant risks.

b. Alleviate concerns of potential lenders.

c. Determine the income reserve needed to operate the business.

d. Identify the management qualifications needed to run the business.

Back 94

a. Generate a contingency plan to counteract the most significant risks.

Front 95

What in the financial analysis is not particularly necessary for a loan?

a. Break even analysis.

b. Purpose of the loan.

c. Current operating line of credit.

d. Date the money is needed.

e. None of the above.

Back 95

e. None of the above.

Front 96

The purpose of the executive summary is to:

a. Condense the pertinent information together for initial review.

b. Present the information necessary for the bank executives.

c. Guide the process of the business plan construction.

d. All of the above.

e. None of the above.

Back 96

a. Condense the pertinent information together for initial review.

Front 97

The calculated projected return on investment should be in which section of the business plan?

a. Financial Analysis.

b. Appendix.

c. Executive Summary.

d. a and c.

Back 97

d. a and c.

Front 98

List three of the major functions of client policies:

Back 98

Set boundaries;
define expectations;
circumvent potentially awkward situations;
provide a means for conflict resolution;
make running a business easier;
demonstrate professionalism.

Front 99

List four of the major areas to cover in policies:

Back 99

Finances;
communication;
scope of practice;
etiquette;
personal relationships.

Front 100

What is the most important commodity a business owner possesses?

a. Sense of humor.

b. Money.

c. Time.

d. A strong network.

Back 100

c. Time.

Front 101

List four features software can provide:

Back 101

Assess information;
record keeping and financial analysis;
personal information management;
client management;
marketing strategies;
desktop publishing.

Front 102

All of the following are example of effective group dynamics factors EXCEPT:

a. Active listening, preservation of each person's dignity and an open agenda

b. Exploration of all options, cultural and ethnic consideration and determine problems in terms of needs, not solutions

c. Take communications at face value, unilateral concessions and act on the first idea that makes sense

d. Patience, high expectations and mutual satisfaction

Back 102

c. Take communications at face value, unilateral concessions and act on the first idea that makes sense

Front 103

The reason it is important to document conflict is because

a. It keeps both parties aware of what happened or was discussed.

b. It's proof that can be utilized later.

c. It's leverage to position future arguments.

d. You never know when you might need to refer to it.

Back 103

a. It keeps both parties aware of what happened or was discussed.

Front 104

Insurance reimbursement can provide higher fees and increased client load. Give three disadvantages to accepting insurance:

Back 104

Masses of paperwork;
possible regimentation;
potential of not receiving compensation;
time lag between service and remittance

Front 105

Name three types of major insurance claims

Back 105

Third party;
Workers' Compensation;
Personal Injury.

Front 106

If you choose to accept insurance clients you should ALWAYS:

a. Educate the primary care provider and insurance company personnel.

b. Approve each client even though they both have the same insurance.

c. Note the name of the person you are talking with and the approval code.

d. a and b.

e. b and c.

Back 106

e. b and c.

Front 107

What is the phrase used by insurance companies to validate a treatment modality?

Back 107

Reasonable and necessary.

Front 108

What is the phrase used by insurance companies to validate a treatment modality?

a. Verifiable objective results.

b. Required and documented.

c. Referred by a primary care provider.

d. Reasonable and necessary.

Back 108

d. Reasonable and necessary.

Front 109

Name two advantages of electronic billing:

Back 109

Saves time;
saves money on staff time;
greater accuracy.

Front 110

The key to long-term financial success is:

a. Raising your rates on a regular basis.

b. Taking courses in business management and marketing.

c. Diversifying your practice.

d. Assembling an excellent business support system.

Back 110

c. Diversifying your practice.

Front 111

List three circumstances that prompt a business owner to consider hiring help:

Back 111

Having more work than can be done by the owner;
not possessing needed skills/expertise; not wanting to do certain tasks;
determine it's more cost-effective to have someone else do some of the work;
the desire to take an extended vacation

Front 112

To be a good manager and boss, you need to:

a. Organize your business.

b. Hold staff meetings.

c. Give feedback.

d. Delegate.

e. All of the above.

Back 112

e. All of the above.

Front 113

In hiring clerical support staff it is more important that you:

a. Find people who are multilingual.

b. Pay your employees better than the average wage to gain their loyalty.

c. Be totally clear in your expectations concerning their duties and responsibilities.

d. Hire very young workers whom you can train in your way of doing things.

Back 113

c. Be totally clear in your expectations concerning their duties and responsibilities.

Front 114

When determining whether or not a person is an employee or an independent contractor, the IRS puts the most weight on:

a. How much the person earns.

b. Who controls how and when a person works.

c. Who owns the tools and equipment used by the person.

d. The number of hours the person works.

Back 114

b. Who controls how and when a person works.

Front 115

Which of the following statements is most likely to characterize someone who is an independent contractor?

a. He submits regular progress reports.

b. She works at the company's office.

c. He offers services both to the company and to the general public.

d. She has multiple sources of income.

Back 115

d. She has multiple sources of income

Front 116

In the final analysis whether a person is an employee or an independent contractor is determined by whom?

Back 116

IRS

Front 117

What three tools are available to promote teamwork, establish a means of discussing concerns and promoting good working relationships with employees?

Back 117

Informal review;
annual evaluations;
staff meetings

Front 118

The concept of “poor but pure” pertains to:

a. Practitioners who fear that financial prosperity will corrupt them.

b. Practitioners who believe that working for low wages is acceptable in helping professions.

c. Practitioners who believe that poor physical health but pure mind/spirit is an acceptable way of living.

d. Practitioners who do not take care of themselves, and have poor health, but who provide excellent service to their clients

Back 118

a. Practitioners who fear that financial prosperity will corrupt them.

Front 119

What are the two most common mistakes that people make regarding finances?

a. Doing your own taxes, and not setting aside money to pay for taxes.

b. Doing your own taxes, and not paying taxes on a quarterly basis.

c. Not setting aside money to pay taxes, and not having a financial advisor.

d. Not paying taxes on a quarterly basis, and not having a financial advisor.

Back 119

a.. Doing your own taxes, and not setting aside money to pay for taxes.

Front 120

What is the acceptable ratio of income to money that should be put aside for tax purposes?

a. 15 - 20%

b. 20 - 25%

c. 20 - 30%

d. More than 30%

Back 120

c. 20 - 30%

Front 121

Two important reasons for keeping accurate financial records are:

Back 121

Running a smooth profitable business and
taking legitimate tax deductions.

Front 122

How long should canceled checks and bank statements be kept for tax purposes?

a. Ten years.

b. Five years from date of return.

c. Six years from date tax paid.

d. Three years from date of return or two years from date tax paid.

Back 122

d. Three years from date of return or two years from date tax paid.

Front 123

What does a ledger sheet document?

Back 123

Income and expenditures.

Front 124

A summary of all sales and cash receipts is titled:

a. Drawing account.

b. Accounts receivable.

c. Income ledger.

d. Capital account.

Back 124

c. Income ledger.

Front 125

How long should copies of tax returns be kept?

a. Three years.

b. Two years.

c. Indefinitely.

d. Seven years.

Back 125

c. Indefinitely.

Front 126

Cash in the bank, inventory, equipment, and goodwill are examples of:

b. Capital.

c. Equity.

d. Assets.

Back 126

d. Assets

Front 127

The purpose of a petty cash fund is to:

a. Pay for small purchases.

b. Pay for incidental expenses.

c. Keep record of write offs.

d. Buy lunch.

Back 127

b. Pay for incidental expenses.

Front 128

In bookkeeping terminology, “assets” can be defined as:

a. The total resources of the business, including tangible and intangible items.

b. The amounts owed to you by another person or business.

c. The net worth of a business.

d. Where you record all your financial information.

Back 128

a. The total resources of the business, including tangible and intangible items

Front 129

Accounts receivable is:

a. The amount you owe another person.

b. The amount of money you owe a creditor.

c. The amount owed to you by another person or business.

d. The amount owed to a business associate of yours.

Back 129

c. The amount owed to you by another person or business

Front 130

Capital is:

a. The company's assets.

b. The company's liabilities.

c. The net worth of the business.

d. The physical assets only.

Back 130

c. The net worth of the business.

Front 131

Why should you put half of all gift card revenue into a separate account?

a. In case the gift card is returned and the person doesn't want to use it.

b. In case the gift card is no longer valid.

c. To create a savings account.

d. To avoid working and not creating new income at that time.

Back 131

d. To avoid working and not creating new income at that time.

Front 132

The four major methods of payment are:

Back 132

Cash, checks, credit card charges and barter.

Front 133

Tipping a practitioner is:

a. Potentially an awkward situation.

b. Unnecessary.

c. Appropriate at all times.

d. Something that should not be discussed with the client.

Back 133

a. Potentially an awkward situation.

Front 134

it's in your best interest to have gift certificates redeemed because:

a. It increases your client base.

b. It increases your income.

c. It's a no fuss transaction.

d. Clients enjoy gift giving.

Back 134

a. It increases your client base.

Front 135

What percentage of barter income is taxable?

a. 10%.

b. 50%.

c. 75%.

d. 100%.

Back 135

d. 100%.

Front 136

What are the conditions for the IRS to consider a business expense legitimate?

a. It must be in your name, be different than other expenses, and be in the correct calendar year.

b. It must be in connection with your business, be different than other expenses, and be in the correct calendar year.

c. It must be in connection with your business, be ordinary, and be necessary.

d. It must be in connection with your business, be ordinary, and be related to the marketing of your business.

Back 136

c. It must be in connection with your business, be ordinary, and be necessary.

Front 137

When giving gifts to clients, the maximum amount you can declare per year per client is:

a. $15.

b. $25.

c. $50.

d. $100.

Back 137

b. $25

Front 138

Two methods for computing allowable expenses for transportation are:

a. Determined by whether you own one or two vehicles.

b. Determined by how far and how frequently you drive.

c. Actual expenses and total business mileage.

d. Total vehicle mileage versus total business mileage.

Back 138

Actual expenses and total business mileage.

Front 139

Pro Bono work is:

a. Services provided as barter.

b. Services received as barter.

c. Services provided at no charge, as goodwill.

d. Services provided at no charge, due to non-payment.

Back 139

c. Services provided at no charge, as goodwill.

Front 140

Choose the column that does NOT belong as one of the five major columns on a disbursement ledger:

a. Amount paid

b. Type of expense

c. Who made payment

d. How it was paid

e. Date

Back 140

c. Who made payment

Front 141

The four major columns on an income ledger are:

Back 141

Date; Client's name; Amount; Type of income.

Front 142

Identify the correct statement. A tax deduction is

a. What you can deduct, not necessarily what you spent.

b What you spent, minus expenses.

c. What you can deduct, not necessarily what you can document.

d. A request that can only be made if the tax return is prepared and submitted by an accountant.

Back 142

a. What you can deduct, not necessarily what you spent.

Front 143

What form is provided to employees from employers?

a. Form W-4.

b. Form W-2.

c. Form 4070.

d. Form W-2-ES.

Back 143

b. Form W-2.

Front 144

Tips are considered:

a. Income.

b. Barter.

c. Non-taxable.

d. Non-reportable.

Back 144

a. Income.

Front 145

Tips must be reported to:

a. No one.

b. Your employer.

c. Your accountant.

d. Your business partner.

Back 145

b. Your employer.

Front 146

State sales tax applies to:

a. Product sales only.

b. Services rendered only.

c. Products and potentially services provided.

d. It does not apply to wellness practitioners.

Back 146

c. Products and potentially services provided.

Front 147

When selling a practice, most businesses are sold to:

a. An employee.

b. A family member.

c. An outside individual.

d. A competing business.

Back 147

c. An outside individual.

Front 148

To market a service business, you must:

a. Spend a lot of money on expensive mass marketing efforts.

b. Target a well defined market and educate people on how they need you.

c. Use the same techniques that big business relies on.

d. Target only those who are already aware of the benefits your practice can offer.

Back 148

b. Target a well defined market and educate people on how they need you.

Front 149

Which statement below best describes what you should do after you have researched your competitors and compiled a profile on each one?

a. Alter your business so that you won't have any competition.

b. Figure out which one is the most successful and adopt its marketing strategies.

c. Analyze the information you've collected, look for trends and patterns, and compare it to the assessment of your own business.

d. Try to figure out the best ways to put your competitors out of business.

Back 149

c. Analyze the information you've collected, look for trends and patterns, and compare it to the assessment of your own business.

Front 150

To determine whether other businesses are in competition with you, the key point is if they:

a. Offer the same service.

b. Are located in the same part of town.

c. Offer the same service to the same target market.

d. Charge about the same rates as you do.

Back 150

c. Offer the same service to the same target market.

Front 151

List the three most common types of cooperative marketing:

Back 151

Same service/different market;
same market/different service;
same service/same market

Front 152

Identify the correct statement. A tax deduction is

a. What you can deduct, not necessarily what you spent.

b What you spent, minus expenses.

c. What you can deduct, not necessarily what you can document.

d. A request that can only be made if the tax return is prepared and submitted by an accountant.

Back 152

a. What you can deduct, not necessarily what you spent.

Front 153

What form is provided to employees from employers?

a. Form W-4.

b. Form W-2.

c. Form 4070.

d. Form W-2-ES.

Back 153

b. Form W-2.

Front 154

Tips are considered:

a. Income.

b. Barter.

c. Non-taxable.

d. Non-reportable.

Back 154

a. Income.

Front 155

Tips must be reported to:

a. No one.

b. Your employer.

c. Your accountant.

d. Your business partner.

Back 155

b. Your employer.

Front 156

State sales tax applies to:

a. Product sales only.

b. Services rendered only.

c. Products and potentially services provided.

d. It does not apply to wellness practitioners.

Back 156

c. Products and potentially services provided.

Front 157

When selling a practice, most businesses are sold to:

a. An employee.

b. A family member.

c. An outside individual.

d. A competing business.

Back 157

c. An outside individual.

Front 158

To market a service business, you must:

a. Spend a lot of money on expensive mass marketing efforts.

b. Target a well defined market and educate people on how they need you.

c. Use the same techniques that big business relies on.

d. Target only those who are already aware of the benefits your practice can offer.

Back 158

b. Target a well defined market and educate people on how they need you.

Front 159

Which statement below best describes what you should do after you have researched your competitors and compiled a profile on each one?

a. Alter your business so that you won't have any competition.

b. Figure out which one is the most successful and adopt its marketing strategies.

c. Analyze the information you've collected, look for trends and patterns, and compare it to the assessment of your own business.

d. Try to figure out the best ways to put your competitors out of business.

Back 159

c. Analyze the information you've collected, look for trends and patterns, and compare it to the assessment of your own business.

Front 160

To determine whether other businesses are in competition with you, the key point is if they:

a. Offer the same service.

b. Are located in the same part of town.

c. Offer the same service to the same target market.

d. Charge about the same rates as you do.

Back 160

c. Offer the same service to the same target market.

Front 161

List the three most common types of cooperative marketing:

Back 161

Same service/different market;
same market/different service;
same service/same market

Front 162

What are the five major components of a marketing plan?

Back 162

Overview; Positioning; Target Market Analysis; Marketing Assessment; Strategic Plans.

Front 163

Which statement below best defines the term “position statement”?

a. The position statement explains the niche you intend to fill.

b. The position statement informs potential clients where you stand politically.

c. The position statement is a snappy slogan used in advertising.

d. The position statement describes your professional ranking.

Back 163

a. The position statement explains the niche you intend to fill.

Front 164

Give three examples of factors you can use to establish your differential advantage:

Back 164

Specialization;
range of services;
geographic location;
type of service you offer;
training/education;
background;
philosophy;
office location

Front 165

A segment of the population with similar characteristics that a practitioner prefers to attract is called a:

a. Practice market.

b. Target market.

c. Character market.

d. Demographic market.

Back 165

b. Target market

Front 166

Psychographics can be defined as:

a. Statistics such as age, gender, income level, etc.

b. A demonstration of Maslow's Hierarchy of Needs.

c. Statistics about the mental health of your potential clients.

d. Lifestyle factors such as special interest activities and cultural involvements.

Back 166

d. Lifestyle factors such as special interest activities and cultural involvements.

Front 167

List three ways to obtain information about potential target markets:

Back 167

Read book;
read articles;
talk with other wellness professionals who work with that market;
talk with other business owners that service that market;
contact organizations that deal with that market;
talk with members of the target market.

Front 168

The first step you should take toward implementing your marketing plan of action is to:

a. Get cost estimates from at least three printers for your direct mail pieces.

b. Buy air time from your local television and radio stations.

c. Talk to your clients to get feedback and helpful criticism.

d. Establish a detailed schedule.

Back 168

d. Establish a detailed schedule.

Front 169

What is Advertising?

a. Marketing tools paid by sponsoring a team, such as baseball caps with your company name and logo.

b. Marketing tools that are free, for example, when you are included in a favorable local newspaper article about alterative practitioners.

c. Marketing tools for which you pay directly, such as listings in your newspaper.

d. A marketing tool that gives you exposure, like sponsoring an “adopt a highway” activity

Back 169

Marketing tools for which you pay directly, such as listings in your newspaper

Front 170

What is Community Relations?

a. Marketing tools paid by sponsoring a team, such as baseball caps with your company name and logo.

b. Marketing tools that are free, for example, when you are included in a favorable local newspaper article about alterative practitioners.

c. Marketing tools for which you pay directly, such as listings in your newspaper.

d. A marketing tool that gives you exposure, like sponsoring an “adopt a highway” activity

Back 170

A marketing tool that gives you exposure, like sponsoring an “adopt a highway” activity.

Front 171

What is Promotion?

a. Marketing tools paid by sponsoring a team, such as baseball caps with your company name and logo.

b. Marketing tools that are free, for example, when you are included in a favorable local newspaper article about alterative practitioners.

c. Marketing tools for which you pay directly, such as listings in your newspaper.

d. A marketing tool that gives you exposure, like sponsoring an “adopt a highway” activity

Back 171

Marketing tools paid by sponsoring a team, such as baseball caps with your company name and logo.

Front 172

What is Publicity?

a. Marketing tools paid by sponsoring a team, such as baseball caps with your company name and logo.

b. Marketing tools that are free, for example, when you are included in a favorable local newspaper article about alterative practitioners.

c. Marketing tools for which you pay directly, such as listings in your newspaper.

d. A marketing tool that gives you exposure, like sponsoring an “adopt a highway” activity

Back 172

Marketing tools that are free, for example, when you are included in a favorable local newspaper article about alterative practitioners.

Front 173

What percentage of your time should you spend in marketing if you are starting a new practice or actively working to increase your client base?

a. 15%.

b. 50%.

c. 10%.

d. 75%.

Back 173

b. 50%.

Front 174

Give four examples of promotional venues:

Back 174

Networking;
holding open houses;
workshops;
demonstrations;
writing articles;
booths;
direct mail;
newsletters;
brochures;
business cards.

Front 175

What are the four “R's” of Direct Referrals?

Back 175

Request the referral;
Repeat the request;
Reward the referral;
Reciprocate the referral

Front 176

In building professional alliances, sending a mailing to targeted healthcare professionals is an example of which approach?

a. Front Door Approach.

b. Side Door Approach.

c. Back Door Approach.

d. Open Window Approach.

Back 176

a. Front Door Approach.

Front 177

Which is the best approach in building alliances when a health care professional has a “gatekeeper?”

a. Front Door Approach.

b. Side Door Approach.

c. Back Door Approach.

d. Open Window Approach.

Back 177

b. Side Door Approach.

Front 178

To maximize your public speaking time, what should be the minimum percentage of your formal presentations to groups with members in your target markets?

a. ½.

b. 1/3.

c. 1/4.

d. 2/3.

Back 178

a. ½.

Front 179

When you are speaking before any size group, in addition to your speech you should have prepared:

a. A well-rehearsed dynamic introduction that is no more than 30 seconds long.

b. A memorized list of answers to questions you anticipate from the audience.

c. A memorized closing that ties to the opening.

d. An alternate speech that is very general so that it will be appropriate for anyone.

e. a and c.

Back 179

e. a and c.

Front 180

List three functions of a newsletter:

Back 180

Attract new clients;
increase number of sessions a client books;
recover lost clients;
inspire clients to try new services;
promote products;
provide information;
improve client retention;
build credibility;
demonstrate concern for clients

Front 181

Brochures and business cards are a marketing tool that should:

a. Appeal to your target market.

b. Appeal to your own aesthetic sense.

c. Look as though they were designed by an advertising agency.

d. Be printed in full color, using expensive paper.

Back 181

a. Appeal to your target market.

Front 182

What is the difference between features and benefits?

a. Features describe results that your client will receive; benefits describe you and your services.

b. Features and benefits are essentially the same thing; there is no difference.

c. Features describe you and your services; benefits describe results your clients receive.

d. Features are what attract potential clients; benefits give back-up information.

Back 182

c. Features describe you and your services; benefits describe results your clients receive.

Front 183

Compared to other types of mailers, sales letters garner a response rate of up to how much?

a. 20%.

b. 40%.

c. 60%.

d. 80%.

Back 183

d. 80%.

Front 184

You can increase response to direct mail letters up to 800% by following up the mailing with a:

a. Response card.

b. Telephone call.

c. Survey questionnaire.

d. Second mailing of the same material.

Back 184

b. Telephone call.

Front 185

At the heart of networking is the idea of:

a. Using acquaintances and business associates for your benefit.

b. Giving support to others and receiving it from them.

c. Recognizing that you have the potential to make connections among people.

d. Building your list.

Back 185

b. Giving support to others and receiving it from them

Front 186

The key to successful networking is:

a. Keeping a detailed address book and calling everyone in it at least once a month.

b. Joining and being active in a networking group.

c. Recognizing that you have potential for making connections, following up on all leads, and joining a networking group.

d. Recognizing that you have potential for making connections, building your network, helping yourself and others by working your network.

Back 186

d.Recognizing that you have potential for making connections, building your network, helping yourself and others by working your network.

Front 187

List three types of advertising venues:

Back 187

Display ads in publications; radio & television commercials; classified ads; billboards; phone books; bus stop benches

Front 188

The major advantage of publicity over advertising is:

a. Publicity is essentially free of charge.

b. Publicity lends credibility.

c. Publicity takes less effort.

d. There's no such thing as “bad” publicity.

Back 188

b. Publicity lends credibility

Front 189

The best way to get interviewed by the local print media is:

a. Mail a press release to the appropriate department at your local paper.

b. Create a newsworthy image.

c. Send a handwritten note requesting the interview.

d. Call the Editor-in-Chief on the telephone to make arrangements to be interviewed.

Back 189

b. Create a newsworthy image.

Front 190

List three ways to become newsworthy:

Back 190

Stage an event (e.g., a free demo or “massage-a-thon”); disseminate unique or useful information; sponsor a sports team; adopt a charitable cause; give an annual award or scholarship.

Front 191

To maintain a strong, growing practice, it's wise to invest at least the following percentage of time in marketing:

a. 5%.

b. 15%.

c. 25%.

d. 35%.

Back 191

b. 15%.

Front 192

Listening to clients' needs and doing your best to fulfill them is an example of:

a. Exceptional Customer Service.

b. Baseline Customer Service.

c. Good Customer Service.

d. Beyond Customer Service.

Back 192

b. Baseline Customer Service.

Front 193

On the average it costs times as much money and times the effort in getting a new client as retaining one.

a. 2, 2.

b. 4, 2.

c. 6, 3.

d. 3, 6.

Back 193

c. 6, 3.

Front 194

The core of client retention that is most often forgotten about is:

a. Documentation.

b. Evaluations.

c. Follow-up.

d. A Customer Service Plan.

Back 194

d. A Customer Service Plan

Front 195

What percentage of clients will not return if unhappy with any aspect of your service?

a. 60%.

b. 70%.

c. 80%.

d. 90%.

Back 195

d. 90%.

Front 196

In terms of Customer Service, list six things that clients want:

Back 196

Convenience;
safety;
efficiency;
understanding;
value;
accessibility;
courtesy;
reliability;
compassion;
honesty;
security;
attention;
acceptance;
professionalism;
expertise.