Business English: Finance and Economics Coursera Quiz Answers

Get All Weeks Business English: Finance and Economics Coursera Quiz Answers

Business English: Finance and Economics Coursera Quiz Answers

Week 01 Quiz Answers

practice Quiz 01

Q1. Which three question types are useful probing questions?

inquiry questions
inflammatory questions
orientation questions
concrete questions

Q 2. Probing questions can be

WH questions
open questions
closed questions
All of the above

Q3. DIRECTIONS Choose the correct list below.

In the article, “How to Ask the Right Questions Part 3: A Framework for Asking,” Steve Blais explains how to ask probing questions that increase the flow of information.

In order to ask the right probing questions, Steve Blais suggests…

preparing questions before your conversation that are framed and open
asking questions in a manner that will lead to open and honest communication
listening like a sponge (without the answer in mind)
pausing before asking each new question

preparing questions before your conversation that are framed and open
asking questions in a manner that will lead to open and honest communication
listening like a sponge (without the answer in mind)
asking and answering as quickly as possible to increase the flow of ideas

Q4.. In the article, “How to Ask the Right Questions Part 3: A Framework for Asking,” Steve Blais says that it’s easier to ask the right questions when we know what the objective is.

You know your objective is to learn the process for entering orders.
You want to ask the right question. In other words you want to ask questions to achieve your goal (understand process).

Q5. A good question to achieve your goal is…

Why is this the process that you follow?
Don’t you think this process takes too much time?
What triggers the order entry process?

practice Quiz 02

Q1 .Imagine you are creating a budget for the first time and have gone to your supervisor for help. What question starters from the Probing Question Stem Reading would be good to use?

What criteria did you use to…?

What’s another way you might…?

Will this process work?

How did you decide/determine/conclude…?

Practice Quiz 03

Q1 .True or False? We can establish open communication in the workplace by sharing and explaining company wide and departmental objectives.

false
true

Q2 .The study mentioned in the video revealed that people who are defensive about criticism are usually ________________. Check the THREE correct answers.

less happy with their job
have low performance ratings
happy with their supervisor
have low self esteem

Q3 .Why do some companies create a work culture that believes questions are positive and lead to achieving business goals? Check all 4 correct answers.

because this environment builds trust and stronger relationships
because it increases motivation and employees are encouraged to perform better
because it supports the ability to respond without defensiveness
because it encourages negative competition
because it supports open communication

Q4 .DIRECTIONS Choose the missing word that best completes the sentence below.

Steve Blais writes that thinking like a child helps you think of good probing questions. Children aren’t afraid of asking simple questions or the wrong question. Furthermore, they listen intently.

Q5. He believes that thinking like a child will help you develop intellectual _____.

properties.
problems.
questions
curiosity.

Practic Quiz 04

Q1 .What do we know about Yes/No questions? Check all that apply.

Yes/No questions are sometimes called polar questions.
When sentences have a “to be” verb, and you want to form a Yes/No question, the “to be” verb pops out to the front of a sentence.
If a sentence has a modal or a helping verb, they do not go to the front of the sentence to form a question, but rather stay in the middle of the sentence
Yes/No questions can also be formed with “do”, “does” and “did” at the beginning of the sentence.

Q2 .Which question is written in the correct Yes/No format, based on this sentence:

What time does Trish take her lunch break?
Who takes a lunch break at 11:30?
Does Trish take her lunch break at 11:00?
When is lunch for Trish?

Q3 .Please turn the following sentence into a Yes/No question

Your answer cannot be more than 10000 characters.

Q4 .Please turn the following sentence into a Yes/No question.

Rodney has been working for the company for 33 years.

Your answer cannot be more than 10000 characters.

Practice Quiz 05

Q1 .True or False? If you want to give your question a choice, you would use the question word “Which” at the beginning of your sentence.

true
false

Q2 .Which of these WH question words and their meaning/uses are correct? Check all that apply.

How = the manner something is done
When =time
Where =an action, or object
How much = quantity of non-countable nouns
Who =person
Why =reasons
How many =place

Q3 .Form a question about leadership style using the WH word “what”.

Your answer cannot be more than 10000 characters.

Q4 .Form a question about communication in your office using the question word “why”.

Your answer cannot be more than 10000 characters.

Practice Quiz 06

Q1 .How do you form Yes/No questions when you have a helping verb or modal in your statement?

You ignore the helping verb or modal and push the subject of the sentence to front.
Your modal or helping verb gets to move to the front of the sentence to form a question.
Your modal or helping verb moves to the predicate part of the sentence.

Q2 .What is the correct way to write this statement as a Yes/No question?

Amount allotted for travel expenses is $1235?
Is the amount allotted for travel expenses $1235?
When is the maximum allotted for travel expenses equal to $1235?
Is the travel expenses the amount allotted?

Q3 .What is the purpose of probing questions?

Get quick answers; Demonstrate your knowledge; Make things happen
Gather information for analysis; Lead a process for problem solving; Show sincere interest in others
Make a point; Cause stress, Show how to think

Q4 .True or False? When communicating, it is best to react (act) then respond (speak)

true
false

Q5 .Which WH question matches this answer?

Why should we all attend this meeting?
What are these extra meetings about?
When is the meeting on Wednesday?
Where do we give our opinions about budgeting?

Q6 .Which are examples of probing questions? Check all that apply.

Should I send large attachment files through email?
What’s another way you might evaluate your company’s culture?
How did you conclude that the budget was in need of re-evaluation?
Are these expense reports correct?

Q7. From the video, Getting to Yes what are the three steps of “principled negotiation” Check all three correct answers.

Participants work together to find a solution.
Parties brainstorm ideas so they each get what they want most
Participants work individually and hope the most aggressive team gets what they want.
Remember the negotiation is about only you and the other team, not what would benefit a community as a whole.
The focus is on the underlying interest of the parties.

Q8. The following question will cause someone to feel defensive.

You don’t want to cause this feeling.

What would be a better way to say this question.

Why didn’t you collaborate with the advertising team like I asked?

What prevented the collaboration with advertising?
It seems just like last time you forgot to attend the meeting with the advertising team. Why does this keep happening?

Q9. Which question is written in the correct Yes/No format with the exact meaning as this sentence?

Management encourages innovation and risk-taking.

Is management encourage innovation and risk-taking?
Does management encourage innovation and risk-taking?
When does management encourage innovation and risk-taking?
Where does management encourage innovation and risk-taking?

Q10. How do you turn a statement into a WH question if you want to know the manner in which it happened?

When does a company truly value excellence?
Why does a company truly value excellence?
How does a company truly value excellence?
Which companies truly value excellence?

Q11 .What is the meaning of the term cutting expenses?

A performance measure used to evaluate the efficiency of an investment.
A tool used to help manage a budgeting process.
Measures implemented by a company to reduce its expenses and improve profitability.
To spend and consume more than is allocated in the budget.

Q12. Which sentence uses the term Return on Investment (ROI) correctly?

Calculating ROI helps you determine how effective your investments are.
Senior management still makes most ROI of the decisions.
Procrastination is fear of failure, indecision and ROI.
Inefficiency and ROI will cost your company thousands of dollars.

Q13. When should you analyze the information you get from your probing questions?

You should gather information first, and then analyze the information later.
You should analyze the information while you’re gathering it.

Week 02 Quiz Answers

practice Quiz 01

Q1. True or False? Blocking language signals defensiveness.

true
false

Q2. Which of the following is not an example of blocking language?

I see your point…
No, you’re wrong.
That’s ridiculous!
I don’t agree…

Q3. True or False? Yielding language is negative.

true
false

Q4. Which of these is not an example of yielding language?

I can see why you would think that…
I see what you are saying…
I am listening… tell me more…
That’s ridiculous…

Practice Quiz 02

Q1. Which 2 words describes a movement up?

increase
decrease
decline
climb

Q2. Which 3 words describe numbers going down?

decrease
increase
fall
drop

Q3. If you said the following number out loud how would it be pronounced?

2,495

“two thousand four hundred and ninety-five” or “two thousand four hundred ninety five”
“two thousand four, ninety five” or “two thousand four and ninety five”

Q4. Looking at the graph below, the blue line represents sales forecasts/projections and the red columns represent the actual sales for the month. Look at the months of March and April.

What did the company do to increase their sales for May?

photo credit source-http://juliangooden.com/sales-forecasting

Q5. What is a strategy for making the story of a chart or graph relevant?

Q6. What can you do to be less defensive when asked difficult questions? There are 2 correct answers.

Practice your presentation and anticipate questions.
Be confident and keep calm.
Plan to ignore questions that you don’t want to answer.

Q7. When presenting the story of a chart or graph, your first sentence should include a number. True or False?

True
False

Practice Quiz 03

Q1. What does contrast mean?

To compare and see the similarities of something
The opposite of something or a surprising difference
To add more information

Q2. What transition words and phrases work well for signaling contrast?

while
although
whereas
however
All of the above show contrast.
None of the above show contrast.

Q3. True or False? Contrast signal words must always be at the beginning of a sentence.

true
false

Q4. What are good transition words to use to add information to what you’ve already said? Check all that apply.

in addition
additionally
on the other hand
in contrast
furthermore

Q5. Write a sentence about audits using “although”.

Practice Quiz 04

Q1. What is the cause of something?

Q2. Which scenarios are examples of cause and effect? Check all that apply.

If you don’t get a good night’s rest, you’ll be tired the next day.
If you eat too much bread, you will get more plaque on your teeth.
If you play in the sun, you will get sunburned.
If you do yard work on the weekends, you be on the swim team.

Q3. Which transition word is commonly used for cause?

since
Therefore,
Moreover,
Consequently,
Thanks to

Q4. List 5 transition words commonly used for effect.

Practice Quiz 05

Q1. True or False? It helps your audience understand financial information in charts and graphs when you use storytelling techniques.

true
false

Q2. After looking at the columns, lines and title of this chart, what do you think it represents?

A company’s actual sales over a four month period
A forecast or sales projection over a four month period
A company’s forecast and sales projection in addition to actual sales in thousands of dollars over a four month period
A company’s sales in the billions of dollars

Q3. According to the chart what month did the company exceed sales that had originally be forecasted?

January
February
March
April

Q4. What do the columns in this chart represent?

The actual amount of sales for a given month.
The amount forecasted or projected for the quarter.
$4,000 to $10,000 for January
A yearly profit report

Q5. According the the article in the Review section, called “More Chart Reading Practice”, what are vocabulary suggestions it gives when communicating charts?. Check all that apply.

Don’t repeat verbs.

Prepare a list of synonyms before you present and see how many ways you can rephrase the information in the graph.

Never use the word plummeted.

Be careful with prepositions. Make sure you know which prepositions go with each word or phrase.

Q6. What can we do to help create a positive tone and not be defensive in conversations or presentations? Check all that apply.

Be confident.
Keep calm.
Use the right words.

Q7. Which sentence has the transition word “nevertheless” used correctly?

My vacation hours aren’t that many, nevertheless, I really enjoy what I’m doing in the auditing department.
Nevertheless is a good worker, but struggles with gossiping within the workplace.
It cost our company nevertheless a fortune to renovate the office space.
The nevertheless company suffered setback and disappointment.

Q8. Which sentence uses the effect word “therefore” correctly?

The preliminary therefore figures show a launch date of 10/23.
Research has shown that profits can decline rapidly, therefore affecting the number of hours employees can work.
Employees must consider logistics for transport therefore.
It is your duty therefore as a manager.

Q9. Which transition words could be used to add information to something that has already been mentioned?

in addition
furthermore
moreover
consequently
additionally
meanwhile

Q10. Which phrase is an example of yielding language?

No, that’s not true…
I don’t think so…
I am listening..Tell me more..
That’s ridiculous!

Q11. Which is the best definition for “unforeseen crisis”?

Future projections based on past analysis and data in addition to present trends.
A sudden problem that requires immediate action.
The sum of direct material, direct labor and factory overhead for making a product.

Q12. Which is the best definition for “launch date”?

A set time to eat food with a relative or friend. Usually in the middle of the day.
A situation involving exposure to danger.
The debut of something, usually a product into the market.

Week 03 Quiz Answers

practice Quiz 01

Q1. People should concede tactfully and respectfully.

true
false

Q2. What does this mean: “Relationships made during discussions with disagreements can be just as valuable as the negotiation”?

Q3. How does Catherine concede to Elizabeth

She gives in right away and doesn’t express her concerns.
She gets angry and yells at Elizabeth.
Catherine doesn’t concede to Elizabeth. She gives Elizabeth all the facts and then Elizabeth agrees with Catherine.
Catherine asks questions and gets more information from Elizabeth. Eventually, she agrees with Elizabeth because she realizes that it’s better for the BioDent team as a whole.

Q4. 2 key points that were made in the video “Negotiation: Check your Ego” are

Each side brings their own set of motivations that we often see in conflict with our own. When this happens, negotiation becomes a list of battles. Our ego is in control.
The best approach to a negotiation is to stop keeping score. Our ego is not in control. With this approach, you can focus on what matters to you and let the other party have what matters to them.
Winning is everything. Take your ego out and you will lose. Everyone knows that the only way to get respect from your colleagues is to demonstrate your power and never show weakness.

Q5. Concession means losing in which type of thinking?

Stop keeping score. Focus on what matters to both parties. I’ll let you have what matters the most to you. You will let me have what matters the most to me. Neither your ego nor my ego is in charge.
Your viewpoint conflicts with my viewpoint. We will battle it out until I win. My ego is in control.

Practice Quiz 02

Q1. As mentioned in the instructional video, Warren Buffett looks for these three characteristics upon hiring someone. Check all three.

creativity
integrity
intelligence
energy
reliability

Q2. True or False? There is a professional oath that was written by teachers at Thunderbird School of Global Management

true
false

Q3. According to the article by Sherrie Scott mentioned in the instructional video, “integrity involves moral judgment and character, honesty and __________ values. “

moral
leadership
strong
honest

Q4. What does this quote by Shira Levine mean?

“It’s not about Big Brother watching over you, but it’s suddenly about you watching over yourself.”

Q5. Why is it important for a company to have integrity? Check all that apply.

Shows creativity.
Helps employees practice integrity in all they do.
Builds trust among co-workers.
Builds a positive reputation for the company.
Can lead to continuous business with other parties.

Practice Quiz 03

Q1. According to the article, “5 Ways to See If Your Business Integrity Is Showing” what does “Integrity must start at the helm” mean?.

Q2. The author gives 5 ways to show your integrity within your company. Here are four of them. (Not in order.)

1. Have a strong and consistent moral code

2. Be honest to a fault

3. Treat everyone with respect

4. Build and maintain trust

Which one is missing?

Demonstrate integrity at all times.
Meet your commitments.

Q3. From the reading, “6 Types of Socratic Questions,” what would be a good question to ask if you want to see other viewpoints and perspectives?

Practice Quiz 04

Q1. Why is using logic through numbers a very effective form of persuasion?

It draws on your emotions.
If numbers, facts, statistics and figures are calculated accurately, they can be used to convince or prove a point.
Numbers always tell the truth.

Q. True or False? Numbers can be used to convince, persuade, and motivate.

true
false

Q3. How can you determine credibility of a source? Check all that apply.

Read the article.

Check to make sure the author is well known in their field of expertise.
Talk to a friend to see if they’ve ever heard of the author.
See that the author also cites sources that are accurate.
Check the date of the source or facts.
Make sure you understand the author’s purpose or intentions. Were they neutral or biased in presenting the information?

Q4. What is the purpose of an Authorization For Expenditure (AFE) form?

Practice Quiz 05

Q1. True or False? You shouldn’t have ready-to-use phrases for concession because situations where you express your opinion don’t come up very often in the workplace.

true
false

Q2. What are some commonly used phrases for concession? Check all that apply.

While it is true that..it doesn’t necessarily mean that…
On one hand, I agree with x, but on the other hand I still insist that y needs to happen.
Can I say something?

Q3. Write two buffer phrases you can use to soften the situation before jumping into your argument.

Q4. When is it best to use the phrase, “As long as this happens, we can agree to this or this.”

When you are ready to explode with anger and need a phrase to calm yourself down.
After two parties have already agreed to a final decision.
When you are ready to concede, and both sides feel like they have something to gain out of the situation.
After the Authorization For Expenditure (AFE) is complete.

Practice Quiz 06

Q1. From the reading, “6 types of Socratic Questions” all of the following are examples of Socratic questions except:

What would be an example?
When are the statistical reports due?
What do you think causes this to happen…? Why:?
What would be an alternative?
Would you explain why it is necessary or beneficial, and who benefits

Q2. What is the meaning of the phrase “common ground”?

A foundation for mutual understanding.
Money spent by a business maintaining fixed assets, such as land, buildings, and equipment.
A metaphor used when there are options for a major choice, decision or change.
To purchase shares of something; to buy a part of something the ownership of which is shared with other owners.

Q3. Which sentence uses “bring to the table” correctly?

I bring to the table potatoes and soup.
She is an expert finance manager and brings so much to the table during our meetings.

Q4. Suppose you are an accounting clerk for your company. Your supervisor asks you to quietly manipulate two numbers on the status report. What should you do? Check all that apply.

Do what the supervisor says. They are your boss.
Tell everyone who works at the office in an email what you were asked to do.
Question your supervisor. Stay calm, but ask them why this would be necessary?
Stand up for what’s right.

Q5. Which phrase for concession could be used if you want to show both sides of an issue?

The advantages are…
I will not discuss this matter further because…
While it is true that…It is also true that..
The similarities and commonalities can be compared by…

Q6. Finance Manager: Can we agree that the first quarter sales projections fell short of our expectations.

Sales Manager: You can agree to that. I said then, and I’ll say it again. Those forecasts were unrealistic.

In the dialogue above, the Sales Manager is negotiating from his ego. He is not willing to concede to the Finance Manager. He is not willing to concede even for something simple because he views the Finance Manager’s goals in conflict with his own. This means that every point is a battle to win.
In the dialogue above, the Sales Manager is negotiating without his ego. He wants to reach agreement. To him, consensus doesn’t mean losing, it means winning because they are working toward mutually beneficial goals.

week 04 Quiz Answers

practice Quiz 01

Q1. Which are the 5 types of power discussed in the video?

Legitimate – power based on job or position
Referent – power from reputation or status
Expert – power from knowledge or skill in a field of study
Inherited – power from an important bloodline
Reward – when a reward is offered to complete a task
Coercive – power from force or physical or emotional threat

Q2. Pablo is an external auditor. When Pablo requests that you send information to him, you do it right away.

Does the auditor have legitimate power?

The auditor has legitimate power.
The auditor has reward power.

Q3. In Steve Bragg’s podcast, he says that in his experience, it’s best to try to keep the same auditors. Why do you think that’s good advice?

Because the relationship with external auditors can be contentious, having the same auditor provides time to build respect for and understanding of the business. This respect makes it possible to negotiate points of contention with less ego involved.
Because the same auditor may grow to respect the way you handle your audits, giving you more power to negotiate/push back on unnecessary requests.
Because the same auditor will eventually let you get away with poor record keeping.

Q4. William Ury wrote a book called No Means Yes.

Is “No means Yes” a true statement?

No means yes is a true statement according to William Ury.
No means yes is a false statement according to William Ury.

practice Quiz 02

Q1. True or False? Coercive power always has positive results.

true
false

Q2. Which statement below is true?

Charles Dwyer said, “In order for there to be power, there has to be belief from follower to leader.”
Charles Dwyer said, “In order for there to be power, there has to be belief from leader to follower.”

Q3. Which step is NOT part of Dwyer’s process for getting anyone to do anything you ask?

Make sure the other person has the ability to do what you want.

2. Offer a reward.

3. Guarantee the reward.

4. Reduce their costs.

5. Reduce their risks.

6. Ask for more

practice Quiz 03

Q1. A rising tone at the end of a statement has a confident tone?

True

False

Q2. True or false? Silence is your enemy.

True
False.

Q3. What does Amy Cuddy mean when she says, “Don’t fake it until you make it, fake it until you become it.”

She believes you can change your mind, but changing your posture (the way you stand).
It’s possible to do whatever you want with a dream.

Q4. In the article “Three Critical Steps for Extracting Great Insights (Step 2 Calm Their Concerns), you learned 3 steps for preventing defensiveness.

Use the right question type and order.
Depopulate the plan
Use non-threatening language and terms.
Desensitize Deficits

Practice Quiz 04

Q1. True or False?

According to The Journal of Personality and Social Psychology, most people believe they can correctly interpret the tone of emails.

However, they misinterpret the tone 50% of the time.

This is a true statement.
This is a false statement.

Q2. Which question has a more positive tone?

Why has management allowed margins to drop to such disappointing levels?
Can you help me understand why margins are 300-500 basis points lower than your competitors?

Q3. How can you make this statement more positive?

The audit was a disaster thanks to the ridiculous delay in document submission.

There were many reasons the audit was not successful. One reason was the slow document submission.
Unfortunately, the audit was unsuccessful due to those irresponsible managers that neglected to turn in their documents.

Practice Quiz 05

Q1. You’re an external auditor, and this is your first audit. You ask for two reports (with good reason). However, when you get them you don’t know what they are nor what’s represented in the reports.

Which scenario is the best way to handle this situation?

With slumped shoulders, a quiet voice, and English words that don’t sound quite right as they leave your mouth, you ask your contact what the materials are and what they mean.
With a calm demeanor, good posture, and a smile, you ask your contact for help. You say that you’re sure you requested these materials; however, they don’t look familiar. You ask her if she would please help you by telling you which request the materials were in response to.
You receive the materials, and immediately become angry. You’re not sure what they are in response to. You believe that your contact is deliberately trying to confuse you.
You go to your contact and demand that she add a cover letter to each document sent to you so that you know which request she’s responding to. Also, you add that you would appreciate the common courtesy of what’s represented in the document being written on the cover letter.

Q2. You’re an internal auditor for a school board. You send an audit engagement letter by email (a letter stating your intent to audit).

Choose the email sample that conveys the appropriate tone.

Subject: Audit Scheduled for Monday, October 19, 2015
Dear Tom,
The Internal Audit Team is planning its audit for enrollment. The objectives of the audit will be:
Subject: Audit 10/19
Tom,
Just wanted to let you know that your audit for enrollment is in 2 weeks. Here’s our objectives:

Q3. What type of power does Jerry Cartel have?

Finance Manager: Our audit is in 14 days. I want you to be the point of contact.

You: Me? Thank you for your confidence, but you know I’ve never done that before, don’t you?

Fiance Manager: Yes, don’t worry. Jerry Cartel has handled the job for 10 years. He’s agreed to lead you through the process.

You: I’m grateful for his expertise.

Expert
Historical
Reward
Legitimate

Q4. For your audit, you are the point of contact. Recently, you attended a webinar (an online workshop) where you learned Dwyer’s 5 Steps to Get Anyone to Do Anything You Ask. You forgot the first step.

?
Offer a reward.
Guarantee the reward.
Reduce their costs.
Reduce their risks.

What is step 1?

Make sure the person has the ability to do what you want.
Make sure you have a reward to offer.
Make sure the person knows you have legitimate power.

Q5. Ury says that when we say no to something we have our underlying reason. This means that when we say, “No,” we are saying, “Yes,” to the underlying reason.

Scenario

You work for a small business. Your boss the owner told you not to report income on a large sale. You said that you are bound by the law and must report it. He told you that it’s his company and he makes the rules. He tells you if you don’t do it, he’ll fire you. You tell him that he can’t fire you–that the same laws requiring you to report income also protect you from being fired unfairly.

Are you both using coercive power?

Yes, both of us are using coercive power.
Only one of us is using coercive power.
No, neither of us is using coercive power.

Week 05 Quiz Answers

practice Quiz 01

Q1. Writing down new words that you want to remember is useful for building your vocabulary.

True
False

Q2. Describe the process that you use when reading difficult articles in English.

Q3. What new reading strategies will you use in the future?

Main Quiz 02

Q1. Auditor Bob: What do you think about our new client?

Auditor Joe: There’s something weird about him.

Auditor Bob: I agree. He __________.

rubbed me the wrong way
rubbed me in the back
ran rover

Q2. If you didn’t know the meaning of the idiom in Question 1, what could you do to guess the meaning?

Check all correct answers. Are all three answers correct?

Use the tone and meaning of the conversation.
Use an idiom dictionary.
Ask someone.

Q3. Facts

At my old company the acceptable profit margins were 30%.
At my new company the acceptable profit margins are 20%.

Choose the 2 statements below that are true and mean the same as the combined 2 statements above (facts).

The acceptable profit margins at my new company are less than they were at my old one.
The acceptable profit margins at my old company were less than they are at my new company
The acceptable profit margins at my old company were more than they are at my new company

Q4. Jake believes his strategies will improve sales. Do you think his strategies will ______ sales?

bake
boost
jet

Q5. Reflect on your efforts in this module.

What were your accomplishments?

Have you improved your ability to use idioms, language showing movement up/down, and new vocabulary?

Have you found new strategies that will help your overall reading comprehension or your ability to understand the information that you need quicker?

Week 06 Quiz Answers

Main Quiz 01

Q1. DIRECTIONS Choose the 2 correct answers below.

1. Why is Bob NOT a super negotiator?

Scenario

Bob was negotiating budgets with the Finance Senior Vice President (SVP).

Bob knew the game. He believed he had super negotiating skills. He was well prepared. As he talked, he entered information into his laptop and located detailed information and a library of spreadsheets. The Finance Senior Vice President (SVP) did the same – two corporate warriors fighting with laptops and spreadsheets.

He supports his argument by using analysis from spreadsheets.
He negotiates with his ego.
He only argues. He does NOT ask probing questions.

Q2. In an email, your choice of language (words and phrases) can convey meaning that you don’t intend.

True
False

Q3. DIRECTIONS (Based on the scenario)

Which statement is true?

Scenario

Bob Boardly was promoted to the Senior Vice President of Sales for a large news organization.

Right away he restructured the sales department. He hired national sales managers and gave them good salaries. In addition, he told them they would receive a good bonus if overall TV station revenue exceeded their budget.

When he realized that the system unfairly punished a few sales representatives, he went to the CEO and the board of directors. He defended these sales representatives right to receive their bonuses. And he won!

Bob’s sales team was grateful and loyal to Bob. Everyone in the department felt that Bob was a boss who fought for his team. They showed him great respect. Bob took pride in their loyalty and respect accomplishment.

As the Senior Vice President of Sales, Bob has a lot of power at work. The type of power he’s proud of is personal power. (Referent or expert)
As the Senior Vice President of Sales, Bob has a lot of power at work. The type of power he’s proud of is formal power. (coercive, reward, legitimate)

Q4. For email, what is one strategy for discovering and using acceptable tone?

Use words and phrases that you’ve used many times.
Become familiar with common words and phrases then use them in similar situations.

Q5. DIRECTIONS (Based on the scenario) Is the following statement true or false?

Bob’s integrity or ethics should be questioned.

Scenario

Bob Boardsley intentionally created a system that guaranteed high bonuses for himself and his sales managers. This system benefited himself and his sales team without attempting to reach the revenue potential.

True
False

Q6. DIRECTIONS Answer the question, “Who concedes?”

Scenario

The Senior VP of Finance and Bob were negotiating the sales target for the upcoming year. The Senior VP began his negotiation by asking Bob to increase sales revenue by 20%. This time he needed Bob to agree on a minimum of a 10 percent increase.

When the Finance Senior Vice President said, “OK” to the double-digit increase, Bob said, “You’re a very smart, realistic person. We’ve now got a number that we can live with. We accept a 10 percent increase.

The Senior Vice President concedes to Bob.
Bob concedes to the Senior Vice President.

Q7. DIRECTIONS (From the scenario) Choose the true statement below.

Since they both agree on a solution, is this a Win/Win solution?

Scenario

The Senior VP of Finance and Bob were negotiating the sales target for the upcoming year. They agreed to a 10% increase.

BOB was willing to agree to a 10% increase in the budget because he knew his sales team would be happy with that number. He knew that the team could achieve a 10% increase without changing their sales strategies. With only 10%, he would continue to a hero and respected leader. He uses numbers and data to show that a higher increase would not be realistic.

The SENIOR VP OF FINANCE needed sales targets to increase by 10% because the CEO had promised that number to the Board of Directors. The CEO made that promise as a way to boost stock prices. In an attempt to negotiate the 10% increase, he begins by asking for a 20% increase then uses numbers and data to support this increase as logical

Since the Senior VP needed Bob to agree to a 10% increase in sales targets and Bob was willing to agree to a 10% increase. They negotiated a Win/Win solution.
Although they negotiated terms that seem like both men won, they did not negotiate a Win/Win solution.

Q8. DIRECTIONS Choose the best answer

When negotiating a Win/Win, begin with open WH-questions or closed Yes/No questions?

Begin with closed Yes/No questions.
Begin with open WH-questions.

Q9. BWhich phrase is less likely to cause defensiveness?

Huge mistake
Poor strategic decision
Thoughtless decision

Q10. The process of explaining a chart or a graph is similar to

telling a story
a formal presentation
running a marathon

Q11. You email the Variance Analysis Chart at the end of the month to your boss. What 3 questions do you anticipate she’ll ask?

Variance analysis chart

PDF File

I anticipate she’ll ask the reason for the 9.6% variance in variable labor costs.
I anticipate she’ll ask why I waited until the end of the month to compile this information.
I anticipate she’ll ask why insurance costs were 5% over budget.
I anticipate she’ll want to understand what caused the sharp increase in utility costs.

Q12. You’re telling the story of the Variance Analysis Chart. Choose the story below that uses language for cause/effect, contrast, addition, and language for going up and down correctly.

Variance analysis chart

PDF File

1 point

As you can see, utility costs shot up two thousand, nine hundred dollars over forecast. This decrease was due to an unforeseen crisis that caused us to continue operating after normal business hours. Additionally, there were unexpected cost changes. This situation is different from the one we experienced last year because…
As you can see our forecasts were not as solid as we thought. What concerns us is the 24.2% variance in utility costs. While the specific crisis could not have been predicted, an historical analysis shows that something unexpected occurs 75% of the time during this period. In addition, this unexpected event usually causes the utility costs to rise.

Q13. DIRECTIONS Decide if the following statement is True or False

Anticipating questions can help you answer with poise and with less defensiveness.

True
False

Q14. DIRECTIONS: Answer the question based on the scenario.

Does Bob use productive yielding language or unproductive blocking language?

Scenario

The Senior VP of Finance: “The CEO wants to tell Wall Street we’ll grow 12 percent next year. He thinks that will lift the stock price about 20 percent.”

Bob: (looking at the SVP as if he’s crazy) “Wow. That’s a third more than we grew last year. That’s lot.”

Bob uses unproductive blocking language.
Bob uses productive yielding language.

Q15. Based on these 2 questions, choose the correct category of power, formal or personal:

Which category is associated with strong leadership skills? And which category is likely to last the longest–formal or personal?

________________________________________________________________________

If you’re not sure, review the types of power.

Review the 5 types of power. Ask yourself why they are grouped in this way.

Formal Power

Legitimate power, or power from someone’s job or position of authority
Coercive power, or power from making threats and causing fear
Reward power, or power that uses the need to be recognized for achievement (promotion, vacation, $, recognition)

Personal Power

4. Expert power, power from knowledge, skills, and experience

5. Referent power, power from being trusted and/or respected

Formal
Personal

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