Do you know that? These cloud based services help freelancers: Facebook, LinkedIn, Twitter, Google Docs, DropBox, Skype, FreshBooks next

Contact Email: teammmrem@yahoo.com

<< All Upwork (oDesk) and Elance Tests << Elance test answers << Fin. & Mgt. category

Test answers for Entrepreneur Challenge 2016

(58) Last updated: January 23
Elance • Fin. & Mgt.
Questions and answers are regularly updated. Answered and not answered tests questions.

This helps getting job: Hundreds of (cover letter examples , interview questions , profile samples ) • Earn on Upwork (oDesk)
Job assistance: jobs popularityfreelance rates

Popular test answers: HTML, .Net, CSS, English, SEO, Photoshop, iOS, Java, Android, Ruby, Python, JavaScript

See all 6 tests answers updated

Find Upwork (oDesk) and Elance test answers on this website:



Collapse | Expand

58 Answered Test Questions:

1. What is an Exit Strategy?

Answers:

• Defining how a users logs out of your website or service

• The method by which a venture capitalist or business owner intends to get out of an investment that he or she has made in the past.

• As outlined in Lee Iacocca's book, it is the gift you provide to a Japanese business man/woman at after a meeting to leave them feeling positive about working with you

• Part of a disaster relief plan which outlines how to leave a building in response to an emergency.

2. What's the "DA" stand for in EBITDA?

Answers:

• Depreciation and Amortization

• Debt Amortization

• Debt and Administration

3. What does it mean to be oversubscribed?

Answers:

• The number of orders for your product exceeds your inventory on hand

• More investors want to invest than you have room for in your round

• You've subscribed to too many business publications like "Inc", "Fast Company", etc.

4. What's CoCA?

Answers:

• Cola

• Cost of Conversion and Attrition

• Cash on Cash Accounting

• Cost of Content Acquisition

• Cost of Customer Acquisition

5. What is a split test?

Answers:

• A "lean startup" concept that involves installing a link to a new feature without actually building the feature, in order to gauge user interest.

• Testing a variety of single-variable samples against one another in order to improve response rates

6. Entrepreneurs who operate a self-financed startup without external fundraising are said to be?

Answers:

• In the green

• Lucky

• Bootstrapping

• Cash flow positive

7. What is a Cap Table?

Answers:

• It's an ancient Mayan surface used in bloodletting ceremonies for business owners that lost investors money

• A breakdown of who owns what in the business

• Similar to a periodic table but filled with "Elements" associated with business

• It's the place where paperwork is signed for deals

8. In start ups, the term "M&A" refers to:

Answers:

• Mergers and Acquisitions

• Money and Acquisitions

• Management and Attrition

• Mergers and Attrition

9. What is a convertible note?

Answers:

• A debt financing in which the debt converts to equity at a future equity financing

• The loan on your new Audi 24 convertible

• Options you provide to your employees that convert into equity when they vest fully

10. What does "ramen profitable" mean for a startup?

Answers:

• Consults on the side for money

• Makes just enough to pay the founders' living expenses

• Receives seed financing from investors

• Has a big client or sale in the pipeline

11. What is Due Dilligence?

Answers:

• Process by which Angel Investors speak with company founders to decide how much money they can make.

• A formal estimate of the value of something on the open market.

• A detailed method for managing a business.

• Process of vetting a business's financial information, team, and other important information that may influence the outcome of an investment.

12. What is one of the differences between a trademark and a patent?

Answers:

• A trademark can only be used for a digital product, a patent is for a physical product.

• There is no difference, they are essentially the same.

• Trademarks, unlike patents, can be renewed forever as long as they are being used in business.

13. What does the legal acronym DBA traditionally stand for?

Answers:

• Dun & Bradstreet Archive

• Doing Business As

• Doing Business Association

• Don't be afraid

14. What does IPO stand for?

Answers:

• Interest Priced Optimization

• Internet Public Offering

• Initial Price Offer

• Interest Price Outstanding

• Initial Public Offering

15. If you get $10,000 for 10% of your company, your company valuation is...

Answers:

• 1,000,000

• 10,000

• 100,000

• 50,000

• 20,000

16. Which of the following isn't part of the traditional Marketing Mix?

Answers:

• Partners

• Price

• Place

• Promotion

• Product

17. An entrepreneur who continually comes up with new ideas and starts new companies is considered a:

Answers:

• Serial entrepreneur

• Lifestyle entrepreneur

• Social entrepreneur

18. What is "sweat equity"?

Answers:

• A party's contribution to a project in the form of effort - as opposed to financial equity

• The hardest working, yet smelliest person on staff

• A term used to measure how hard someone worked to raise funds

• The opposite of "dry equity"

19. What's the classic 80/20 rule (the Pareto principle) with regards to marketing?

Answers:

• 80% of your profit comes from 20% of your customers.

• 20% of sales close

• 80% of your time makes up 20% of your profits.

• 80% percent of the market shares the same needs

20. What is an Incubator?

Answers:

• Places senior executives in a failing start-up

• A short term financing option

• Provides workspace, coaching, and support to entrepreneurs & early-stage company's.

• Helps increase a company's evalutation

21. What does the term "priced round" mean?

Answers:

• When you take your team out for a round of drinks

• The exercise price on the options you've granted to employees, advisors, etc.

• An equity financing in which the company and investors agree on a pre-money valuation

22. Sequoia is a(n):

Answers:

• Mobile Application

• Venture Capitalist group

• Social Network Application

• Environmental Platform

• Angel Group

23. What is a seed round?

Answers:

• Like the Knights of the Round table, the "round" of advisors who help an entrepreneur refine his/her business model.

• The kernal of an idea with which an entrepreneur starts a company.

• First investment round that 'seeds' the company's financials.

24. What is a sole proprietorship?

Answers:

• A idea brainstormed by a single person.

• A serial entrepreneur with a history of not working with co-founders.

• A business funded by a sole investor.

• A business owned and operated by one person.

25. What does CRM stand for?

Answers:

• Customer Relationship Management

• Corporate Responsibility Management

• Corporate Representative Media

• Customer Response Management

26. How many owners may an LLC have?

Answers:

• 150

• 250

• Unlimited

• 200

• 100

27. Which of the following is NOT a recognized entrepreneurial influencing skill?

Answers:

• Criticism and punishment

• Leadership and vision

• Helping and resolving conflict

• Teamwork and people management

28. An Entrepreneur is a person who

Answers:

• A person without a job

• An individual who makes money on the internet

• Anyone who fills out a W-9

• A manager in an s-corporation

• Takes a risk to found a company in pursuit of profit

29. What is the Valley of Death in regards to fundraising?

Answers:

• time between idea conception and product launch

• time between first investment and exit

• time before the first investment

• time between first investment and first profits

30. True or False: In a limited partnership the day-to-day operations are controlled by general partners and funded by limited or silent partners who are legally responsible for losses based on the amount of their investment.

Answers:

• True

• False

31. What is attrition?

Answers:

• The percentage increase of investors between seed funding and round B funding in a start up company.

• An increase of employees in a start up company.

• A reduction or decrease in numbers, size, or strength of a start up company.

32. What is the primary difference between angels and venture capitalists?

Answers:

• Angels generally make larger investments in comparison to those made by venture capitalists

• Angels invest their own funds, venture capitalists invest others funds

• Angel typically require only informal agreements, Venture capitalists require a legally binding agreement

• Angels only require a minority share, Venture capitalists require majority ownership

33. Which company did Larry Page co-found?

Answers:

• Google, Inc.

• Facebook

• Microsoft Corporation

• LinkedIn Corporation

34. What does it mean to "syndicate" an investment?

Answers:

• To have multiple investments from the same company or group in the same startup (i.e. over multiple rounds).

• To have one investment spread out over multiple time periods (aka tranches).

• To have multiple companies or groups participate in a single investment round and share diligence findings.

• To have one company or group funding multiple startups.

35. Which type of venture exit typically has the largest payoff for founders and investors?

Answers:

• Merger

• Acquisition

• IPO

• Secondary sale

• Recapitalization

36. What are the "Three F's" of early-stage financing?

Answers:

• Fill, Finalize, and Forget

• Friends, Family, and Fools

• Find Friends First

• Forego Family Financing

37. Which of the following involves the least outside capital coming into the company?

Answers:

• Private Equity

• Friends & Family

• Bootstrap

• Venture Capital

• Angel Investment

38. For a company that runs a free web app, which of these metrics would be described as a vanity metric?

Answers:

• Monthly active users

• Daily active users

• Revenue

• Total registered users

39. The idea "fail fast, fail often" refers to?

Answers:

• Lean startup philosophy

• Fundraising success rate

• Poorly designed products

• Startup failure rate

40. Sole proprietorships and LLC's are similar in that they:

Answers:

• are both subject to liability

• allow for pass-through taxation

• can be set up without registration with the state

41. What is "deal fatigue"?

Answers:

• The burnout that occurs when you push your sales people too hard

• When the other party in a negotiation gives in to your terms because they are exhausted

• The negative signaling effect of trying to raise money for a very long time.

42. How is the post-money valuation of a company determined?

Answers:

• Pre-money valuation plus the invested funds

• Whatever you can negotatiate - push hard for the highest possible post-money

• It's a magical mix of how excited the investors are, the perceived value of the work you have done so far, and the size of the market

• The net present value (NPV) of the forecasted future cash flows for 10 years.

43. What is a "discount rate" on a convertible note?

Answers:

• A risk premium of additional equity for earlier investors.

• A lowering of the amount of cash added by investors.

• A reduction in equity on conversion negotiated by the entrepreneur.

44. What does "MVP" stand for in Lean Startup methodology?

Answers:

• Most Valuable Product

• Minimum Viable Product

• Maximum Value Proposition

• Most Viable Product

45. What is Guy Kawasaki's famous 10/20/30 rule?

Answers:

• 10 person team, 20 months, 30 million dollar exit

• Focus groups should have 10 people attending, ask 20 key questions, and take 30 minutes total

• 10 slides, 20 minutes, 30 point font

46. The challenge of "crossing the chasm" refers to reaching which group of customers?

Answers:

• Early adopters

• Late majority

• Early majority

• Innovators

47. What is the maximum number of shareholders an S corporation may have?

Answers:

• 25

• 50

• 100

• 150

• 75

48. What is another word/term for using feedback from users to improve your product/service?

Answers:

• Feedback Reporting

• Entrepreneur's Golden Rule

• Client Monitoring

• Customer Development

• Lean Startup

49. According to Dave McClure of 500 Start-ups, what three people does every tech start-up need?

Answers:

• Investors, Founders, Employees

• Leaders, Visionaries, Soldiers

• Hustlers, Hackers, Designers

50. What legal entity is the most Venture Capital friendly?

Answers:

• S-Corp

• C-Corp

• LLC

• LLP

51. An investment "term sheet" establishes the basic terms and conditions of an investment and is:

Answers:

• Varies from state to state

• Sometimes legally binding but usually is not

• Always a legally binding agreement

• Always a legally non-binding agreement

52. What type of branding is considered the default "brand architecture" and is used by most entrepreneurs?

Answers:

• Hybrid branding

• Co-branding

• Product branding

• Corporate branding

53. For high-growth ventures, which series of funding is typically used for sales acceleration and marketing over initial product development?

Answers:

• Series B funding and beyond

• Bridge funding

• Series A funding

• Seed funding

54. What's a "full ratchet"?

Answers:

• A deal term used by investors to force the sale of the company

• A deal term used by investors to prevent dilution

• A deal term used by investors to accelerate option vesting

55. Which of the following is NOT a benefit of registering a trademark?

Answers:

• Right to recover up to 3x damages from infringement

• Retain the moral rights (control of modification)

• Presumption of being the valid owner

• Exclusive right to use the mark

• Future right to make the mark "incontestable"

56. What is the name for an initial time period during which employee stock options are not vested called?

Answers:

• flat

• cliff

• freeze

• lead

• deadzone

57. Developing a new idea by thinking without constraints is?

Answers:

• Brainstorming

• Golden Road

• Creativity

• Big-Dream Approach

• Brianwriting

58. Which of the following is an online Q&A video platform available for Entrepreneurs?

Answers:

• Foundation

• Skype

• Grasshopper

• Quora