NRF Retail Industry Fundamentals Exam
Questions And Answers With Verified
Solutions 100% Correct!!!
1. A retail business, owned by shareholders and has centralized decision
making for their multiple store locations is called:
Answer: corporation
2. In the retail product cycle, what step comes after distribution of products?
Answer: selling
3. A large facility that manufacturers send large quantities of product to then
distributed to stores is called:
Answer: distribution center
4. The period key term in retail for a period of time that an item remains
usable, or fit for consumption is called:
Answer: shelf life
5. Customers of a popular shoe store chain can purchase items in-store and
on-line or via their mobile app. The customer also receives texts and emails
about current promotions and sales. This is an example of:
Answer: Omni-channel retailing
6. Merchandise without an expiration date like electronics, tools, and home
goods typically have longer:
Answer: shelf life
7. The repetitive cycle that occurs with retailers in regard to product
assortment is called:
Answer: the retail product cycle
8. Responsible for the production of finished products:
Answer: manufacturer
9. People who purchase goods or services from a business are called:
Answer: customers
