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Acquisition statutes are __________ in the Federal Acquisition Regulation ---- CORRECT ANSWER-----------Implemented A hurricane destroying a manufacturing plant is an example of: ----CORRECT ANSWER-----------Force majeure Guileless Imports purchased , metal wheels from Annular Supply Co. under a sale on approval contract. Annular Supply delivered the wheels to Fraught Freight for shipping to the destination, but the shipping container sank and all the wheels were lost. Which party bears liability for the loss? ----CORRECT ANSWER-----------The seller is fully liable Which of the following is not a requirement of a written contract for the sale of goods? -- --CORRECT ANSWER-----------a-A specified quantity b-Sufficient detail to indicate that a contract for sale has been made c-The signature of the buying party D-THE PLACE OF DELIVERY The CMBOK suggests that: ----CORRECT ANSWER-----------Certification is an indicator of professional strength An Organizational Conflict of Interest exists when: ----CORRECT ANSWER-----------The nature of the work to be performed under a contract may result in an unfair competitive advantage to the contractor

Which of the following would be considered a characteristic of a successful knowledge management framework? ----CORRECT ANSWER-----------A-GROUPS OF SUBJECT MATTER EXPERTS CONNECTED THROUGH TECHNOLOGY. b-An information repository that is exclusively available to top level executives. c-Incorporating training in contract budgets d-Waiting until the end of a project to record lessons learned and apply them to the next project. Which of the following is not a competency of Guiding Principles? ----CORRECT ANSWER-----------a-Contract Principles b-Team Dynamics c-Regulatory Assessment D-COLLABORATION Which of the following describes perfect competition? ----CORRECT ANSWER----------- Many independent buyers; many independent sellers; easy entry to market; balanced pricing between buyers and sellers. Fenway Company verbally agreed to purchase 5 fans from Top Fans Inc., at the total price of $476.20. Top Fans Inc. delivered two of the fans but has not delivered the other 3 fans. Fenway paid for the 2 fans delivered. Which of the following is true? ---- CORRECT ANSWER-----------Although Top Fans already delivered, and Fenway accepted, the 2 fans, Top Fans can still provide a written notice of its objection to the contract to preclude it from being enforced. Complete the equation: All the information + all the ________ = Knowledge ---- CORRECT ANSWER-----------Experience There are four types of knowledge required by contracts managers. The communication skills needed for a successful negotiation would fall in to which of the following categories? ----CORRECT ANSWER-----------a-Strategic Knowledge b-Explicit Knowledge C- TACIT KNOWLEDGE d-Procedural Knowledge

In contract interpretation, the practices or methods of dealing that are regularly observed and justify an expectation that they will apply to a specific transaction are called what? ----CORRECT ANSWER-----------Course of dealing Which skill below is needed to be a successful contract manager? ----CORRECT ANSWER-----------a-Sociability b-Tenaciousness C=CREATIVITY d-Persistence During contract performance which party is most likely to bear the risk of loss? ---- CORRECT ANSWER-----------The party who had control of the goods when the loss occurred. Knowledge Management is best described by which of the following? ----CORRECT ANSWER-----------A-AN ORGANIZATION'S CAPABILITY TO CAPTURE AND REUSE CRITICAL AND RELEVANT INFORMATION. b-An organization's emphasis on professional development. c-The capability of an organization's training program to effectively train staff in relevant job skills. d-An organization's awareness of how information and events will impact its long and short term goals. Divestiture of a company (the creation of a new company with a completely separate board of directors) may be recommended as a remedy for what? ----CORRECT ANSWER-----------Organizational conflict of interest. A government contracting officer representative is designated via a letter of appointment signed by the contracting officer that delineates specific duties and responsibilities. This is an example of what: ----CORRECT ANSWER-----------A-EXPRESS AUTHORITY b-Written agency c-Specified authority d-Delineation of authority

When someone not authorized to act on behalf of a principal causes action by another party, it is: ----CORRECT ANSWER-----------a-Assumed authority B-APPARENT AUTHORITY c-Non-express authority d-Implied authority The Sarbanes-Oxley Act: ----CORRECT ANSWER-----------Prevents companies from accounting for unrealized profits Article 2 of the UCC covers: ----CORRECT ANSWER-----------The Sale of Goods When conducting research, asking "Is this information current, official, and verifiable?" is an example of what? ----CORRECT ANSWER-----------Information filtering Company A, Company B, and Company C produce 95% of Produce X. If Company B raises the price of its Product X, consumers may choose to buy from Company A or Company C instead. This is an example of: ----CORRECT ANSWER-----------A- COMPETITIVE ADVANTAGE b-Effective competition c-Oligopsony d-Oligopoly The government's authority to enter into a contract comes from: ----CORRECT ANSWER-----------The U.S. Constitution Which of the following is not one of the tenets of successful contract management team? ----CORRECT ANSWER-----------a=Communication b-Openness to change C-SHARED LEADERSHIP d-Trust

A "well-trained" contract manager: ----CORRECT ANSWER-----------Has learned relevant competencies A Procurement Specialist at Company A is responsible for purchasing a fleet of vehicles under federal agency contract. His sister owns a large car dealership that sells the type of vehicles needed and she is planning to submit a bid. This situation could be an example of which of the following: ----CORRECT ANSWER-----------A-PERSONAL CONFLICT OF INTEREST b-Organizational conflict of interest c-Personal ethics d-Violation of a free trade agreement The prohibition on expending or authorizing an obligation of funds in excess of the amount available in the appropriation derives from: ----CORRECT ANSWER----------- The Anti-Deficiency Act The Uniform Commercial Code: ----CORRECT ANSWER-----------Is a primary source of guidance in the commercial contracting community One aspect of a monopsony is that it: ----CORRECT ANSWER-----------Has many independent sellers What agency has the binding authority to "settle all accounts" of the government (i.e. determine whether a particular use of funds is proper)? ----CORRECT ANSWER----------

• The Government Accountability Office (GAO) The role of contract manager falls into which two primary functions? ----CORRECT ANSWER-----------Buyer and seller An issue related to gift giving and receiving could be resolved by consulting the: ---- CORRECT ANSWER-----------Code of Conduct

Which of the following describes the Guiding Principles relationships in the CMBOK Competency System? ----CORRECT ANSWER-----------They encompass Pre-Award, Award, and Post-award Company A, Company B, and Company C produce 95% of Product X. If Company B raises the price of its Product X, consumers may choose to buy from Company A or Company C instead. If Company A and Company C decide to follow Company B's lead and raise their prices, the three companies: ----CORRECT ANSWER-----------Can control the entire Product X Market through their power to set prices. The U.S. Cell phone market is an example of: ----CORRECT ANSWER-----------An Oligopoly Which of the following represents the relationship between principal and agent? ---- CORRECT ANSWER-----------A-YOU ARE AUTHORIZED BY YOUR COMPANY TO MAKE BINDING DECISIONS ON THEIR BEHALF. b-You are employed by a company c-You are authorized by your company to receive packages d-There is no such relationship in contract management When one contracting party gives the other contracting party reason to believe they will not perform the contract, they are providing a: ----CORRECT ANSWER----------- Repudiation No debt may be paid out of public funds unless Congress has made an __________________ for that purpose. ----CORRECT ANSWER-----------Appropriation The Uniform Commercial Code is a uniform law. This means that: ----CORRECT ANSWER-----------It must be adopted as law by each state sparately

What is an express warranty? ----CORRECT ANSWER-----------Specifically states in the contract what the product will/will not do. Funds appropriated by Congress are commonly restricted in two ways: ----CORRECT ANSWER-----------Intended use and time of availability The negotiation between the buyer and seller of a change to an existing contract is an example of: ----CORRECT ANSWER-----------Bilatereral Monopoly Article 2 of the UCC requires that a written contract must: ----CORRECT ANSWER------- ----a-Be notarized b-Specify a delivery date C-SPECIFY A QUANTITY d-Be enforcable Which of the following is an underlying concept in the UCC applicable to contracts? ---- CORRECT ANSWER-----------a-the sale of goods of $500 or more is enforceable regardless of whether the sale is documented in writing b-There must be a written record of any contract for the sale of goods of $5000 or more in order to be enforceable C-THERE MUST BE A WRITTEN RECORD OF ANY CONTRACT FOR THE SALE OF GOODS OF $500 OR MORE IN ORDER TO BE ENFORCEABLE d-The sale of goods of $5000 or more is enforceable regardless of whether the sale is documented in writing Which of the following is a difference between commercial contracts and government contracts? ----CORRECT ANSWER-----------A-IN GOVERNMENT CONTRACTS, ONLY THE BUYER HAS THE AUTHORITY TO REQUIRE A CONTRACT CHANGE. b-In commercial contracts, the buyer has the absolute right to terminate a contract c-Government contracts may be terminated by mutual agreement d=The FAR is written to favor the buyer, and the UCC is written to favor the seller. Clear payment terms in a contract fulfill which essential contract element? ---- CORRECT ANSWER-----------Consideration between the parties

Which of the following is likely an example of an organizational conflict of interest? ---- CORRECT ANSWER-----------A-BEFORE AN ACQUISITION FOR INFORMATION TECHNOLOGY IS CONDUCTED, COMPANY A IS AWARDED A CONTRACT TO PREPARE DATA SYSTEM SPECIFICATIONS AND EQUIPMENT PERFORMANCE CRITERIA TO BE USED AS THE BASIS FOR THE EQUIPMENT COMPETITION. COMPANY a IS PREPARING TO SUBMIT A PROPOSAL TO SUPPLY THE EQUIPMENT. The ____________ statute requires all U.S. performed services contracts greater than $2500 to pay minimum wages based on prevailing wages in that location. ----CORRECT ANSWER-----------Service Contract Labor Standards Pleasant Elevation is a construction company working on a government building. Some of its employees were injured in an accident on the job site. After receiving notification of the accident, the contracting officer, Michelle Jackson, issued an order to suspend contract performance. Pleasant Elevation stopped construction so that the government could conduct an investigation. Ms. Jackson's actions were an example of: ---- CORRECT ANSWER-----------An unauthorized commitment

1. A. Market shares. Through a compila- tion of banners in the **data.

2. A. Ensuring the loyal-** ty card data updates correctly.
3. D. $106,250.00 (Work =Sales / AC Distribu- tion... = 8,500,000/80) Which of the following analytics is NOT available in retailer POS data? A. Market shares. Through a compilation of banners in the data. B. All of these analytics are available in retailer POS data. C. Trends. Through time variations available in the data. D. Sales and profit analysis. Through total store, aisle, department, brand, and segment. E. Shopper insights. Through transactional and shopping basket data. What's the least important consideration when cre- ating a monthly updated store-level report from syn- dicated scanner data? A. Ensuring the loyalty card data updates correctly. B. Planning for new store openings or closures. C. Identifying key performance indicators. D. Planning for new products that may be introduced after the report is created. If a SKU has achieved $8,500,000 in sales and has 80% ACV distribution, what is its Sales per Point of Distribution (SPPD)? A. $531. B. $1,062. C. $106. D. $106,250.
4. True (share) True or false? If a retailer sells $135 million in 13 weeks and grew 20% vs year ago and the Market sells $500 million in 13 weeks and grew 18% versus a year ago then the retailer is gaining $ share.

A. Share of features by How do you determine fair share of features for a brand divided by the brand's dollar share within the category

6. A. Market basket **analysis

7. A. Product line exten-** **sion
8. 66 (WORK= (1) Sales** per $MM ACV: 10,000/25=400 (2) Sales Index: *(400/600)100=66.6667)
9. C. Turf protect-** ing, profit generating, cash generating brand? A. Share of features by brand divided by the brand's dollar share within the category B. Dollar sales sold on feature divided by total dollar sales for a brand C. Share of features by brand for the market minus share of features by brand for the retailer D. Promoted sales share by brand minus base sales share by brand Which of the following analyses provides the infor- mation about other products that are purchased at the same time as a specific category? A. Market basket analysis B. Geodemographic analysis C. Leakage tree analysis D. Syndicated scanner data analysis A Supplier decides to introduce a new product size in Brand A, which is a 12-pack of smaller-sized products than the original lineup. What is this an example of? A. Product line extension B. Brand extension C. Cannibalization D. Incremental contribution Calculate the "Sales Index" based on the following information: • Store Units: 10,000 • Store ACV $: $ million • Chain Sales per $MMACV: 600 Type your numeric answer in the space below. After developing measurable category objectives what are some examples of category strategies that can support the objectives?

10. D. A model that spreads the cost of a company's activities evenly across all the **company's products

11. D. Variety and capaci-** **ty
12. D. To identify poten-** tial assortment, pric- ing, and promotion opportunities for the retailer from the mar- ketplace. A. Price generating, turf protecting, promotional ad- vertising B. Promotional advertising, price generation, prod- uct mobility C. Turf protecting, profit generating, cash generating D. SKU proliferation, turf protecting, traffic building Which of the following descriptions does not de- scribe activity-based costing? A. A model that assigns the cost of a company's activities to all the company's products, according to the amount each product actually consumes B. A model that translates indirect costs into direct costs C. A model that accounts for the cost of overhead in the cost of a company's products D. A model that spreads the cost of a company's activities evenly across all the company's products When deciding which products to carry, what are the two most important factors that retailers must keep in balance? A. Number of potential facings and capacity B. Linear space optimization and capacity C. Out-of-stocks and turns D. Variety and capacity Why is it important to compare a retailer's point-of-sale data with syndicated market-level data? A. Retailers' POS data can be inaccurate and incon- sistent. B. Syndicated data cannot be integrated with retail- er's point-of-sale data because it measures different consumers.

13. B. False. GMROI rates need to be compared to other category or vendor results in or- der to conclude effi- **ciency.

14. A. A widget category** shopper usually buys widgets at Retailer X. While doing his gro- cery shopping at Re- tailer Y, he notices a floor display and de- cides to buy his wid- gets at Retailer Y in- **stead of Retailer X.
15. B. Maximized profit** within the planogram. C. Syndicated data is more accurate than retailer's POS data and offers a store-level view of sales trends. D. To identify potential assortment, pricing, and pro- motion opportunities for the retailer from the market- place. True or false? A minimum GMROI of 2.0 should be attained in order to achieve inventory efficiencies across the store. A. True. The minimum is required to achieve payout on inventory holding costs. B. False. GMROI rates need to be compared to other category or vendor results in order to conclude efficiency. Which of the following is an example of buyer con- version? A. A widget category shopper usually buys widgets at Retailer X. While doing his grocery shopping at Retailer Y, he notices a floor display and decides to buy his widgets at Retailer Y instead of Retailer X. B. A widget category shopper usually buys one case of widgets at Retailer X while he's doing his grocery shopping. He's buying supplies for a trade show event later in the month, so he makes a special trip to Retailer X to buy widgets for the event. C. A widget category shopper goes to Retailer X to buy widgets, but finds his favorite brand is out of stock. He decides to wait and buy the widgets on his next visit to Retailer X. Of the following benefits to planogram development for retailers and manufacturers, which one LEAST benefits the all-important shoppers? A. Consistent category presentation store to store.

B. Maximized profit within the planogram. C. Product positioning based on decision tree. D. Shelf plans align to shopping preferences.

16. False (POS) True or false? Manufacturers can share any retail- er's syndicated POS data with any other retailer.
17. B. Shelf capacity The bottom shelf in a gondola is usually deeper than the other shelves, and has more: A. Linear Feet B. Shelf capacity C. Profit per foot D. Facings
18. C. 25.4 (Work =245/964 If Brand X has dollar sales of $245M and unit sales (Brand $ sales / Cate- **gory $ sales))
19. C. When it is "rolled** up" to include and re- flect channel and mar- **ket data
20. C. Retailer** point-of-sale data of 500 units, and the category has dollar sales of $964M and equivalent volume sales of 1500, what is the share of category sales for Brand X? A. 3. C. 25. B. 3. D. 10. When is retail measurement data (scanned sales data) considered to be syndicated data? A. When it is segmented into product groupings in- cluding brand, subcategory and category level data B. When it includes retail scanned sales data for total stores, across banners and geographies C. When it is "rolled up" to include and reflect chan- nel and market data D. When it combines retail scanned sales, supplier shipment and market data E. None of the these options are correct Which of the following data sources is internal sales data collected by retailers?

21. A. True. Store size, ge- ography and climate, consumer purchase behavior and con- sumer demographics are all attributes that can affect differences across stores. A. Syndicated scanner data B. Geodemographic data C. Retailer point-of-sale data D. Household panel data True or false? Retailers should cluster their stores based on more attributes than volume and store size for better Shopper focus A. True. Store size, geography and climate, con- sumer purchase behavior and consumer demo- graphics are all attributes that can affect differences across stores. B. False. Store size and volume create effective seg- ments that focus on consumer differences without the complexity.

22. D. Days of supply A retailer needs to order more stock on an item be- cause it will run out of stock in 10 days. What space management measure provides this information? A. Capacity analysis B. Number of facings C. Post-reset tracking D. Days of supply
23. True (cannibalization) True or false? The opposite effect of incremental contribution is cannibalization. 24. C. Vary promotions, including feature & display activity, be- tween the test and control stores in both the pre-test period and the test period. When completing an in-store test, which of the fol- lowing activities should NOT be done to set up an effective test? A. Conduct the in-store test for a period of 13 weeks. B. If stores shelves are reset for the test, include a one-week gap between the completion of the resets and the start of the test period. C. Vary promotions, including feature & display ac- tivity, between the test and control stores in both the

25. B. False. You can still segment item level data based on com- mon segments like size, format, subcate- gory, price tier, with- out a consumer deci- **sion tree.

26. A. Using multiple** workbooks
27. 14.4 ((WORK = 520 units per year / (6 fac- ings x 6 units per fac- ing) = 14.4)
28. 37.6 (Work= 1 - (Re- duced price/original **price) .... 1 - (2.49/3.99))
29. A. 625.0 (Work = sales** units or $ / the mar- ket's ACV / 1 000 - 20,000 /$32,000) x 1000)) pre-test period and the test period. D. Include a pre-test period that lasts the same length of time as the test period. True or false? If you do not have access to a con- sumer decision tree you should not attempt to seg- ment the data. A. True. You should not segment item-level data if you do not have a well-researched CDT. B. False. You can still segment item level data based on common segments like size, format, subcatego- ry, price tier, without a consumer decision tree. Which functionality would be least effective when analyzing large volumes of syndicated scanner data in Microsoft Excel? A. Using multiple workbooks B. VLOOKUPs C. Pivot tables D. Pivot charts Product A has 6 facings and holds 6 units per facing. Its weekly movement is 10 units per week (520 units per year). What are the inventory turns for Product A? Type in your answer as a number with one deci- mal place (example "10.2"). If an item has an original retail price of $3.99 and is now selling at a reduced price of $2.49, what is the markdown %? Calculate the "Sales per $MM ACV" based on the following information: - Store sales in units per year: 20,000 - Store ACV$: $32,000, A. 625. C. 640.

30. C. In-store shopper re- search

B. 1260.

D. 1.

Which of the following best describes information collected by observing consumers while they shop followed by asking them a defined set of questions? A. Qualitative and quantitative research B. Tracking studies C. In-store shopper research

31. A. Ground and Large Refer to the table. In which two segments is the retailer losing the most market share? · Ground: Retailer = 8.8 (-7.0 % Growth) / Market = 58.1 (16 % Growth) · Instant: Retailer = 11.0 (-6.0 % Growth) / Market = 35.1 (- 8 % Growth) Beans: Retailer = 8.3 (18 % Growth) / Market = 11.6 (- 7 % Growth) · Small: Retailer = 11.7 (-7.0 % Growth) / Market = 11.6 (- 11 % Growth) · Medium: Retailer = 10.8 (3.0 % Growth) / Market = 51.8 (2 % Growth) Large: Retailer = 8.2 (24.0 % Growth) / Market = 36.0 (27% Growth) A. Ground and Large B. Beans and Medium C. Ground and Medium D. Beans and Large
32. True (Control test) True or false? A Control Store Test can provide data validation on in store tests done across multiple stores.
33. B. consumer Scanner data provides a market understanding, while panel data provides a un- derstanding. Fill in the blank. A. rest of market B. consumer

34. A. They need to de- termine a balance be- tween inventory on shelf and restocking **frequency.

35. B. The data may** have item discrepan- cies and UPC rollup **errors.
36. A. Analyzing the way** consumer behavior and lifestyle interact C. channels D. competitive Refer to the graph. Which of the following gives the BEST considerations that retailers need to make regarding stock levels and labor on weekdays vs weekends? · Chart- Avg Hourly Unit Sales o Avg unit sales per hour weekday: way lower than weekend/ random peaks o Avg unit sales per weekend: higher than week- days/ curve shape over random peaks A. They need to determine a balance between in- ventory on shelf and restocking frequency. B. They need to balance stock levels between week- days and weekends. C. They need to determine if they want to stock the shelves to meet peak demands (which increases inventory costs). D. They need to determine if they want to stock the shelves more frequently (which increases labor requirements). Why should you "cleanse" point-of-sale data before analyzing it? A. The data may be added directly to power point slides. B. The data may have item discrepancies and UPC rollup errors. C. The data was sent from a syndicated data service and must be converted to point-of-sale. D. The data was sent in a hard copy format. What is the most important element of geodemo- graphic behavioral data analysis? A. Analyzing the way consumer behavior and

37. C. Use panel data to determine which item has higher loyalty or contributes more total basket dollars among the retailer's shop- **pers.

38. B. The test stores per-** formed better than the control stores by 12 percentage points lifestyle interact B. Creating accurate demographic profiles C. Grouping consumers according to their stages of life D. Grouping consumers according to their lifestyle Which of the following analyses would be MOST effective to help you determine which of two items with similar sales and margin performance should be kept when completing an assortment analysis? A. Conduct an in-store survey to determine shopper preferences between the two products. B. Keep the item that has been carried the longest, in order to maintain the retailer's customer base. C. Use panel data to determine which item has high- er loyalty or contributes more total basket dollars among the retailer's shoppers. Review the table that shows results of an in-store test. Which is the correct conclusion you can draw from this data? · Test Stores o Trend during pre-test = +4% o Trend during test period = +9% o Change = +5 pts · Control Stores o Trend during pre-test = +12% o Trend during test period = +5% o Change = - 7 pts A. The control stores performed better than the test stores by 7 percentage points B. The test stores performed better than the control stores by 12 percentage points C. The control stores performed better than the test stores by 12 percentage points. D. The test stores performed better than the control stores by 2 percentage points

39. B. Household panel **data

40. B. False. Different tar-** get Shoppers will de- termine the assort- ment choices for dif- ferent Retailers.
41. 32.4 (WORK= (7.99-5.4)/7.99100=* 332.4)) Which of the following data sources includes in- formation collected by consumers who scan their purchases and are then compiled into a syndicated data source? A. Syndicated scanner data B. Household panel data C. Geodemographic data D. Retailer point-of-sale data True or false? Item level assortment within a cate- gory should be the same across retailers within the same channel. A. True. Assortment choices are driven by the overall consumer shopping in the market. B. False. Different target Shoppers will determine the assortment choices for different Retailers. If an item cost $5.40 and had a retail price of $7.99, what is its gross margin %?
42. True (cat assess) True or false? A category assessment identifies cat- egory growth opportunities.
43. False (demand index) True or false? A demand index measures whether the target product group has been sold in a store. 44. A. The retailer's Cate- gory share is higher than their ACV share A retailer's index vs ACV for a category is 103. What is the MOST ACCURATE conclusion from this number? A. The retailer's Category share is higher than their ACV share B. None of these answers are correct C. The retailer is underdeveloped in this category D. The retailer is overdeveloped in the category

45. 6 (Work =Annu- al COGS / Aver- age Inventory Level - **=450,000/75,000)

46. E. All would add value** **to the assessment
47. 87.5 (Work= (Retail** Price — Cost) / Cost = **($7.50-$4.00/4.00))
48. D. The target number** of items to list in a category based on the **80/20 rule
49. C. Penetration, buying** rate, frequency, and purchase size before **and after introduction.
50. C. Consumer panel** data If an item has average inventory levels of $75, and annual cost of goods sold of $450,000, what is its inventory turns? Which of the following dimensions would NOT add value in a category health assessment? A. Category tactics B. Competitive activity C. Category trends D. Economic trends E. All would add value to the assessment If an item has a cost of $4.00 and a retail price of $7.50, what is its markup % (round to 1 decimal place)? Pareto Curve analysis helps you to determine: A. Which items to list in a category B. How many items to delist in a category C. None of these answers are correct D. The target number of items to list in a category based on the 80/20 rule To determine if new items in a category have brought in new buyers to the category, what should you compare? A. Share of Wallet and buying rate to total category volume for the previous year comparable period. B. Buying rate, frequency, and purchase size before and after introduction. C. Penetration, buying rate, frequency, and pur- chase size before and after introduction. D. None of these answers are correct. What source of data provides purchase behavior metrics and demographics that can be used in cat-

51. C. Calculate the sales between the pre-test and test periods for both the control store group and the test store group. Then cal- culate and compare the changes between time periods for both the test and control **store groups.

52. 6 steps of Root Cause** **Analytics
53. D. It gives an exter-** nal perspective of the egory management work? A. Loyalty card data B. Retailer POS data C. Consumer panel data D. All of these data types are equally important E. Retailer measured data (market data) Which of the following BEST describes the proce- dure for analyzing the results of an in-store test? A. Choose one store from the test group and the control group. Then calculate and compare the changes between the pre-test period and the test period. B. Calculate the change in sales between the pre-test period and the test period for a sum of control and test stores. Then compare the change between the two periods for this total store group. C. Calculate the sales between the pre-test and test periods for both the control store group and the test store group. Then calculate and compare the changes between time periods for both the test and control store groups. D. Calculate the sales from the test period for both the control store group and the test store group. Then calculate and compare the difference in sales between the groups.
    1. Define the problem.
    2. Determine the reasons for the problem.
    3. Determine the underlying conditions that give rise to the reason for the problem.
    4. Design a solution.
    5. Implement the solution.
    6. Evaluate the success of the solution. What is the most important reason for retailers to benchmark themselves against more than the chan-

total market that con- sumers are shopping in. nel which they compete within? A. It gives competitive perspective to understand them vs their closest channel competitor. B. It gives the consumer's perspective to understand their shopping behaviors. C. None of these answers are correct. D. It gives an external perspective of the total market that consumers are shopping in.

54. False (loyalty card) True or false? Loyalty Card Data is included in the syndicated scanner data set.
55. C. All of these state- ments are correct. Which of the following statements are true as it relates to shelf management? A. The number of facings is sometimes referred to as "NOF". B. Planogram performance should always be mea- sured after implementation to determine whether planogram changes are having the desired effect. C. All of these statements are correct. D. Dollar, unit and profit shares are key measures that retailers can benchmark vs linear feet to mea- sure planogram performance.
56. D. Information is gath- ered from a panel of consumers who record their purchas- es over a period of time. Which of the following best describes how consumer panel data is developed? A. A 3rd party data company develops panel data by auditing shopper behavior in-store. B. Retail scanned sales data is combined by a panel to create market panel data. C. Retailers send scanner data to a syndicated data provider to compile market data. D. Information is gathered from a panel of con- sumers who record their purchases over a period of time.

B. New shelf set evalu- ation

58. A. Minimize days of supply and maximize **stock availability.

59. A. All of these an-** swers are correct. A retailer's category management team analyzes the metrics for the new planogram versus the old planogram and continues to track results over time. What is this process called? A. Control store test evaluation B. New shelf set evaluation C. Inventory evaluation D. Planogram SKU evaluation From a retailer's perspective what is the key balance equation as it relates to inventory on shelf? A. Minimize days of supply and maximize stock availability. B. Maximize days of supply and minimize stock availability. C. Minimize days of supply and minimize stock avail- ability. D. Maximize days of supply and maximize stock availability. What could be a purpose of a total store space analysis project? A. All of these answers are correct. B. To determine the amount of space each category deserves, according to the criteria used by the re- tailer. C. To be certain that a category is getting its fair share of space. D. To benchmark every category's space in the store.
60. E. All of these answers Which of the following are important in establishing are important effective store clusters? A. Resource capacity to manage multiple clusters B. Analytical horsepower / computer capability

61. C. It is a process used to determine how to perform a root cause analysis C. Access to detailed demographics and item attri- bution D. Proper data storage capacity E. All of these answers are important What is a causal factor tree? A. This is a methodology which identifies the unde- sirable fault tracing all of the initiating faults that must occur first in order for the top-level fault to occur B. It is a method to determine why a segment is down between two categories C. It is a process used to determine how to perform a root cause analysis D. It is a process used to identify performance issues among groups

62. True (shelf) True or false? When making a shelving recommen- dation change you should evaluate shopper needs and the competitive marketplace.
63. B. Geodemographic can be used to cre- **data
64. C. To help identify,** explore, and display possible causes relat- ed to a problem or condition ate demographic profiles for products and retailers, measure product demand by store and zip code, and identify leisure activities for target consumers. A. Syndicated scanner data B. Geodemographic data C. Household panel data D. Retailer point-of-sale data When would a cause and effect diagram be effective in category management analysis? A. To show similarities and differences in assessing scanner data versus panel data sources B. To decide whether or not to alter the space plan- ning scheme for the product category based on the volume sold C. To help identify, explore, and display possible

causes related to a problem or condition D. To illustrate what happened in a category over a three to six-month period

65. B. UPC What is the foundational data element used to orga- nize and measure product performance in house- hold panels? A. Department codes B. UPC C. Demographics D. Region 66. E. Any of these op- **tions
66. D. All of these are** accurate as it re- lates to geodemo- **graphic analysis.
67. E. Reducing inventory** turns. When a Retailer is evaluating the "sales" line in their income statement, they should be compared to: A. Either Year Ago or Previous Period B. Budgets C. Previous Period D. Year Ago E. Any of these options Which of the following is NOT accurate as it relates to geodemographic analysis? A. It helps to determine store clusters with multiple attributes. B. It helps to better understand the Consumer / Shopper. C. It requires performance data (including POS data, shipment data, 3rd party data) at a zip or postal code level. D. All of these are accurate as it relates to geodemo- graphic analysis. E. It requires insights data (including census data, store location data, consumer data, demographic data, etc.) at a zip or postal code level. Which of the following would be the least likely re- tailer's shelf strategy?