CapSim Final Board Questions 100% correct answers A+ success assured, Exams of Nursing

Download CapSim Final Board Questions 100% correct answers A+ success assured and more Exams Nursing in PDF only on Docsity! CapSim Final Board Questions 100% correct answers A+ success assured ROUND 1 1 In order to sell a product at a profit the product must be priced higher than the total of what it costs you to build the unit, plus period expenses, and plus overhead. At the end of last year the broad cost leader Chester had an Elite product Camp. Use the Inquirer's Production Analysis to find Camp's production cost, (labor+materials). Exclude possible inventory carrying costs. Assume period expenses and overhead total 1/2 of their production cost. What is the minimum price the product could have been sold for to cover the unit cost, period expenses, and overhead? Select: 1Save Answer $10.72 $32.17 $35.00 $21.45 2 Demand is created through meeting customer buying criteria, credit terms, awareness (promotion) and accessibility (distribution). According to the Thrift segment's customers, which of these products was the most competitive at the end of last year? Select: 1Save Answer Coat Bid Bold Agap e 3 Your team has recently experienced some difficulties and setbacks. Some of your teammates have expressed their lack of confidence in the team. Which of the following tactics is most likely to help boost your teammates’ perception of the team’s capability to perform well? Select: 1Save Answer past . Identify the team’s weak links that led to the team’s past failures. Encourage your teammates to focus on the future and not to dwell on the Discuss the past successes your team has had and how the team pulled together to get the job done. Allow time at a team meeting for everyone to openly share any complaints they might have about one another. 4 Your first team meeting is dedicated to setting goals for a new and challenging project. Which of the following actions would be most effective in helping your team attain its goals? Select: 1Save Answer Review the goals to make sure they are inspirational enough to carry the team through difficult times. Ensure that the team goals are specific and challenging. Ask a member of senior management to make a presentation about the importance of the team’s success in reaching its goals. Ensure that the team goals are general enough to allow for freedom in how tasks are accomplished. 5 You were recently hired by the Andrews CEO as a consultant to evaluate the performance of the Chief Financial Officer (CFO). As part of that process, you interview the CFO's direct reports (employees). Although they indicate that the CFO is technically competent, one individual told you stories about the CFO's verbal abuse with employees. Given this information, what would be the most effective next step in the process? Select: 1Save Answer Collect more information about the extent to which this reported behavior is impacting others. Tell the CEO about what you have uncovered and ask for her permission to speak about it with the CFO. Focus on the CFO’s work performance since his personal behavior is inappropriate in the workplace. Inform the human resources department that there is a potential problem. 6 Select all of the following statements that are true four years from now, in the year 2020. Select: 2Save Answer The Core segment will demand 9,782 thousand units The Elite segment will demand 5,876 thousand units The Thrift segment will demand 7,748 thousand units The Nano segment will demand 5,409 thousand units In three years, assuming the competitive environment remains unchanged, how many units of Cure will Chester be selling in the Nano market segment? Select: 1Save Answer 764 464 603 687 11 Larry is in charge of collecting customer service and satisfaction data for his company. He’s not sure which key groups in the company would be the most appropriate audience to communicate the recent customer satisfaction results, including call center employees, senior management, and company-wide. As Larry begins to develop his communication plan, which of the following questions would MOST help him strategize a plan for targeting a specific audience? Select: 1Save Answer What format would each group prefer to see in a report on customer satisfaction? How can you communicate the information in a way that will be acceptable to all groups? What are the potential advantages and disadvantages of communicating customer satisfaction results to one group versus another group? What are the consequences of not communicating the information at all? 12 You just hung up the phone after a 3-hour conference call with your colleagues in India. After the call, one of your co-workers stopped by to see you. She proceeded to give you some feedback about the call and finished by asking, "why were you so impatient with them? I know we didn’t get through the agenda, but it was like you had somewhere else more important to be and they were clearly offended by your behavior." Which of the following actions BEST DESCRIBES how to improve your own cross-cultural communication with your colleagues in India? Select: 1Save Answer Tell your co-worker that she should probably run the meeting next time so that you can observe her style and its effectiveness with your Indian colleagues. Communicate more clearly in advance about the agenda format and time so you don’t feel bad moving the discussion along. Send an email to your colleagues in India apologizing for your insensitivity and tell them it will never happen again. Examine your expectations for conducting the meeting and determine how they might be different than your Indian colleagues. 13 Which description best fits Andrews? For clarity: - A differentiator competes through good designs, high awareness, and easy accessibility. - A cost leader competes on price by reducing costs and passing the savings to customers. - A broad player competes in all parts of the market. - A niche player competes in selected parts of the market. Which of these four statements best describes your company's current strategy? Select: 1Save Answer Andrews is a niche cost leader Andrews is a niche differentiator Andrews is a broad cost leader Andrews is a broad differentiator 14 Refer to the HR Reports in the Inquirer. Through past investments in recruiting and training Baldwin has obtained a productivity index of 109.4%. This means that Baldwin's labor costs would be increased by 9.4% if it did not have these productivity improvements. This is a competitive advantage that Baldwin can sustain or even widen further if its competitors have no HR initiatives. Now, refer to the Income Statement in Baldwin's Annual Report. How much did Baldwin's productivity improvements save it in direct labor costs (in thousands) last year? Select: 1Save Answer $3,143 $29,809 $821 $3,065 15 Dot is a product of the Digby company. Digby's sales forecast for Dot is 506 units. Digby wants to have an extra 10% of units on hand above and beyond their forecast in case sales are better than expected. (They would risk the possibility of excess inventory carrying charges rather than risk lost profits on a stock out.) Taking current inventory into account, what will Dot's Production After Adjustment have to be in order to have a 10% reserve of units available for sale? Select: 1Save Answer 506 units 557 units 412 units 361 units What is the Quick Ratio of Chester? Select: 1Save Answer 3.42 2.41 4.70 1.00 7 Digby has a ROS of 0.08 (ROS = Net income/Sales). That means: Select: 1Save Answer There is a 8% profit on each dollar of sales. There are sales of $8 for every dollar of profit. There are sales of $92 for every dollar of profit. For every $8 of sales there is a profit of 1%. 8 Which mission statement best represents the Baldwin company? Select: 1Save Answer Lasting innovation is our motivation. We build premium products that are elegantly designed to meet the needs of a variety of market segments. Consistency and affordability are our goals. Our central mission is to offer dependable, low-price products that our customers can count on. Innovation meets revolution. We create value for our customers through breakthrough designs that lead to unique high-performance products. Providing value to our customers is why we get up in the morning. We accomplish this by offering products at a low price our customers can afford across a wide variety of market segments. 9 Review the Inquirer to determine Baldwin's current strategy. How will they seek a competitive advantage? From the following list, select the top five sources of competitive advantage that Baldwin would be most likely to pursue. Select: 5Save Answer Seek high automation levels Seek the lowest price in their target market while maintaining a competitive contribution margin Reduce cost of goods through TQM initiatives Seek high plant utilization, even if it risks occasional small stockouts Increase demand through TQM initiatives Add additional products Accept lower plant utilization and higher capacities to insure sufficient capacity is available to meet demand Reduce labor costs through training and recruitment Seek excellent product designs, high awareness, and high accessibility Select: 1Save Answer Determining the level of communication detail to share with the audience. Understanding the audiences’ knowledge. Practicing the pace of the presentation. Structuring the core ideas or flow of the presentation from beginning to end. 13 You were recently selected for an important 2-year overseas assignment in Qatar. This is a big career opportunity and a chance to work in a high-growth region of your company’s business. You just returned from a weeklong trip to Qatar, which was part of the introduction to your new team and your soon-to-be new home. You certainly became aware that there were some noticeable cultural differences between your country and Qatar. You are scheduled to move in 3 months. Which of the following actions would be the MOST EFFECTIVE approach for improving your cultural competence? Select: 1Save Answer Stay in frequent communication with your new team in order to prepare for your upcoming move. Learn as much as you can about each member of your new team in order to smooth your transition into the group. Create a list of the things that you found to be different than what you expected during your visit and plan some strategies for adjusting to these differences. Focus your efforts on closing out all of your remaining projects and commitments related to your current position to get ready for your overseas assignment. 14 The Andrews Company has just purchased $59,400,000 of plant and equipment that has an estimated useful life of 15 years. The expected salvage value at the end of 15 years is $5,940,000. What will the depreciation expense for this purchase (exclude all other plant and equipment) be for the second year of use? (Use FASB GAAP) Select: 1Save Answer $3,564,000 $7,920,000 $7,128,000 $3,960,000 15 Midyear on July 31st, the Baldwin Corporation's balance sheet reported: Total Assets of $82.292 million Total Common Stock of $2.540 million Cash of $4.020 million Retained Earnings of $17.326 million. What were the Baldwin Corporation's total liabilities? Select: 1Save Answer $58.406 million. $62.426 million. $64.966 million. $66.446 million. ROUND 3 1 You have realized that a report your team authored, and which is now sitting on the desk of the CEO, contains several significant errors. What is the most effective way to deal with this situation? Select: 1Save Answer Discuss the errors directly with your teammates and then create a plan to fix the report. Discuss with your team about how to avoid making the same errors in the futur e. Determine the severity of the errors to see if anything should be done. Inform your manager or team leader of the errors so he or she can resolve the problems. 2 The statement of cash flows for Baldwin Company shows what happens in the Cash account during the year. It can be seen as a summary of the sources and uses of cash (sources of cash are added, uses of cash are subtracted). Please answer which of the following is true if Baldwin's inventory goes up: Select: 1Save Answer It is a use of cash, and will be shown in the operating section as a subtraction. It is a use of cash, and will be shown in the investing section as a subtraction. It is a source of cash and will be shown in the operating section as an addition. It is a source of cash, and will be shown in the investing section as an addition. 3 Your company is fairly progressive and has started to use peer- evaluations in the performance evaluation process with the idea that nobody knows team members’ behaviors better than the team. Each individual completes a self-evaluation and then one evaluation on each member of the team. The overall average is used to calculate performance grades for each team member. Dave, one of your teammates is not fond of Sherry; in fact it’s fair to say he’d rather work with anyone but Sherry. They are both good performers but Dave confides in you that he’s afraid she will give him poor ratings. Anticipating this likelihood, Dave tells you that he feels like he has no other choice but to provide Sherry with lower ratings so as to counteract the effect of her lower ratings of him. Which of the following actions would be most helpful to Dave in promoting an ethical choice? Select: 1Save Answer Call your company’s confidential ethics hotline to inform senior management that people are abusing the performance management system. Tell Dave that although you appreciate his candor, you now have no other choice but to contact your boss about the situation. Tell Dave that lying is never the answer especially since he doesn’t know for sure that Sherry will behave as he fears. Ask Dave to consider other potential options regardless of whether he is right or wrong about Sherry. 4 This year Andrews achieved an ROE of 4.3%. Suppose management takes measures that decrease Asset turnover (Sales/Total Assets) next year. Assuming Sales, Profits, and financial leverage remain the same, what effect would you expect this action to have on Andrews's ROE? Select: 1Save Answer Andrews ROE will remain the same Andrews ROE will decrease Andrews ROE will increase 5 On the income statement, which of the following would be classified as a Period cost? Select: 1Save Answer Promotion Expense Direct Labor Expense Direct Material Expense Inventory Carry Expense 10 There is no one more technically savvy than James Westover. Indeed, he has built two amazing cloud-based applications and started his own application development company, all within two years of graduating from college. Because of his success, James caught the attention of Cheryl Stevens, a venture capitalist who funds technology start-ups. Cheryl asked James to send her his best idea for a new application remarking, "if it’s anything like your previous two, you can count me in." James is worried about sending the idea without being able to clarify the very technical nature of his idea. Which of the following actions would you recommend James do at this stage in order to be MOST effective in communicating with Cheryl? Select: 1Save Answer Tell Cheryl that this type of information is very technical and ask if she has a technical advisory team that could help her. Provide Cheryl with a brief proposal describing the idea in non- technical terms and ask for a face-to-face follow up meeting. Thank Cheryl and politely tell her that the information is too technical to be described in a proposal and ask for a face-to-face meeting. Send Cheryl a PowerPoint slide deck with the information she requested and ask for her feedback. 11 Mike is the Director of Human Resources for a 120-employee family- owned manufacturing firm. Mike has been quite busy the last year reforming the benefit offerings to comply with recent changes in healthcare laws. Given the many changes, Mike took the opportunity to completely overhaul the employee benefits program including replacing the old medical plans with three brand-new plans. Mike is preparing to tell employees about their new benefit offerings a few months prior to the benefits open-enrollment period. Given the number of employees, he decides to design a nicely formatted PowerPoint slide deck explaining the changes and to send this presentation via email to all employees. One day into the open- enrollment period, his inbox is flooded with over 50 emails from confused employees. Mike is puzzled, but realizes he may have made a mistake in communication. Which of the following BEST describes the primary communication mistake he made? Select: 1Save Answer Assuming that employees would understand the content of the PowerPoint slides. Failing to match the communication medium (or channel) with the intended outcome. Failing to develop core ideas that adhere to the rules of "sticky" communication. Forgetting to alert managers that the communication was "coming their way." 12 You are preparing for a 3-month global assignment in Turkey working on an international quality improvement team for your company’s manufacturing division. After buying a few travel books and researching some of Turkey’s contemporary history, you are quickly overwhelmed by the sheer amount of information to learn. Which of the following types of cultural information would be MOST CRITICAL to understand before arriving in Turkey for your assignment? Select: 1Save Answer Geopolitical views of your own (native) country. Dominant religious beliefs in Turkey. Rules for Turkish interpersonal communication. Basic tax and compensation laws in Turkey 13 Fred is a new employee who has been assigned to your team. This is the first time Fred has worked in your country. Aware that he might have some difficulty adjusting, you want to help him get off to a good start. Which of the following would be MOST EFFECTIVE in helping Fred adjust to his new team and build his cultural competence? Select: 1Save Answer Ask Fred to run team meetings in order to get to know people more quickl y. Periodically check with Fred to make sure he is adjusting properly. Make sure Fred knows that your door is always open if he needs some advice or help of any kind. Teach Fred about how decisions are made and communicated, as well as how conflict is handled. 14 As the VP of warranty claims in the Andrews Company, you and your team regularly review your insurance broker emails as a procedure to guard against insurance fraud. This review includes reviewing the emails of other VPs. You just received a call from your boss who was furious that you reviewed her email. You responded that she is not alone; you review all emails of licensed brokers as matter of compliance. She demands you no longer review her emails remarking, "If you can’t trust me, then we’re in trouble." Who are the stakeholders for which you have primary obligations? Select: 1Save Answer You, your boss, and the firm Your boss, the firm, and the human resource department You and your boss Your firm and your boss units of their product Bid at $15.00. Baldwin uses the accrual method of accounting and offers 30 day credit terms. Baldwin delivers 0 units in March, 141 units in April and 35 units in May. They received payment for 141 units in April, and payment for 35 units in May. How much revenue is recognized on the March income statement from this order? How much in the April Income statement? (Answer in thousands) Select: 1Save Answer $881 , $881 0, $2,115 $2,115 , $529 $2,644 , 0 6 Your Competitive Intelligence team is predicting that the Baldwin Company will invest in adding capacity to their Brat product this year. Assume Baldwin's product Brat invests in increasing its capacity by 10% this year. Because of this new information, your company anticipates all other products in the Core segment will increase their capacity by the same amount. How much can the industry produce in the Core segment the next year? Consider only products primarily in the Core segment last year. Ignore current inventories. Figures in thousands (000). Select: 1Save Answer 8,040 8,659 8,731 9,709 7,681 15,312 5,910 7 You’ve received your raise pool for the year and it’s not as big as you had hoped. You fear that you won’t be able to provide the kind of raises you think most of your employees deserve. The only problem is that the human resources department requires that performance evaluation scores be aligned with raises. Thus, you won’t be able to give your employees high performance scores and low raises, but rather you’ll have to downgrade their performance scores to match their raise amounts. Which of the following actions is most likely to help you promote a greater sense of fairness among your employees? Select: 1Save Answer Find support for giving lower performance evaluations so as to send a consistent message. Tell employees the situation and have them each file grievances with the HR department. Tell HR that you won’t participate in performance appraisals this year. Present an accurate performance appraisal and explain why raises are not commensurate with their actual performance.