Question 1

What percentage of Kickstarter projects have been successful?

Accepted Answer

A) 28% 
B) 48% 
C) 68% 
D) 78% 
A) 28% 
B) 48% 
C) 68% 
D) 78%

Question 2

Lorraine offers to give people a percentage of the profits earned from her theater production as a reward for donating $100 to the production's equipment.Kickstarter did not approve her campaign because:

Accepted Answer

A) it was a theater production and not a product 
B) she wanted to offer a financial reward 
C) she was asking too much of an investment, given the reward 
D) she was asking too little of an investment, given the reward 
A) it was a theater production and not a product 
B) she wanted to offer a financial reward 
C) she was asking too much of an investment, given the reward 
D) she was asking too little of an investment, given the reward

Question 3

It is important to be conservative in setting the financial goal in a crowdfunding campaign.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following crowdfunding sites would be best if raising money for a new invention?

Accepted Answer

A) Kickstarter 
B) Peerbackers 
C) Quirky 
D) RocketHub 
A) Kickstarter 
B) Peerbackers 
C) Quirky 
D) RocketHub

Question 5

Quirky is a site that helps investors raise funds.

Accepted Answer

A) True 
 B)False

Question 6

In reference to crowdfunding, a backer is best described as:

Accepted Answer

A) a person who will pay back a loan if you fail to do so 
B) people who contribute support in a crowdfunding venture 
C) the site on which crowdfunding ventures occur 
D) the financial institution that manages the transfer of money 
A) a person who will pay back a loan if you fail to do so 
B) people who contribute support in a crowdfunding venture 
C) the site on which crowdfunding ventures occur 
D) the financial institution that manages the transfer of money

Question 7

What does the term digital printing mean?

Accepted Answer

A) a method of using a software-created digital image to directly form the image in a variety of media 
B) any use of software to create a 3D image 
C) any printing from a software design program 
D) a form of printing using small dots to create the image 
A) a method of using a software-created digital image to directly form the image in a variety of media 
B) any use of software to create a 3D image 
C) any printing from a software design program 
D) a form of printing using small dots to create the image

Question 8

Crowdfunding and crowdsourcing would be considered which of the following strategies?

Accepted Answer

A) formal fundraising 
B) bootstrapping 
C) angel funding 
D) none of these 
A) formal fundraising 
B) bootstrapping 
C) angel funding 
D) none of these

Question 9

Which of the following would be considered an acceptable penny-pinching strategy?

Accepted Answer

A) hire employees but don't pay them 
B) pay yourself a salary 
C) attend networking events to get connections 
D) give up your day job so that you can focus full time on the business 
A) hire employees but don't pay them 
B) pay yourself a salary 
C) attend networking events to get connections 
D) give up your day job so that you can focus full time on the business

Question 10

Which of the following is NOT a crowdfunding mistake?

Accepted Answer

A) setting a realistic funding goal 
B) having no, or little, social media presence 
C) failure to deliver the product or rewards after the campaign is over 
D) choosing the wrong crowdfunding platform 
A) setting a realistic funding goal 
B) having no, or little, social media presence 
C) failure to deliver the product or rewards after the campaign is over 
D) choosing the wrong crowdfunding platform

Question 11

One of the problems with the Coolest Cooler was that:

Accepted Answer

A) the USB charger caused electric shocks to several customers 
B) shipping was too expensive for more customers 
C) supporters lost faith over delayed production 
D) they crowdfunded on multiple sites, betraying community guidelines 
A) the USB charger caused electric shocks to several customers 
B) shipping was too expensive for more customers 
C) supporters lost faith over delayed production 
D) they crowdfunded on multiple sites, betraying community guidelines

Question 12

In addition to raising funds in a given period of time, what else is required in a Kickstarter project?

Accepted Answer

A) The project must be available on a global basis since contributors can come from anywhere. 
B) Participants must subject themselves to a background check. 
C) A specific fundraising goal must be set and met within the time period allowed. 
D) They must create a video demonstrating or talking about their project. 
A) The project must be available on a global basis since contributors can come from anywhere. 
B) Participants must subject themselves to a background check. 
C) A specific fundraising goal must be set and met within the time period allowed. 
D) They must create a video demonstrating or talking about their project.

Question 13

Jose starts a small restaurant.On weekends, he works with his cousin to construct the tables, chairs, and counters that will go into the restaurant.What is the name given to the result of these efforts?

Accepted Answer

A) labor equity 
B) owner labor 
C) sweat equity 
D) family ownership 
A) labor equity 
B) owner labor 
C) sweat equity 
D) family ownership

Question 14

What was the primary benefit Local Motors gained from outsourcing manufacturing and design?

Accepted Answer

A) They rapidly increased the number of employees working for the company. 
B) They raised money quickly to fund their development. 
C) They saved labor costs while improving efficiency. 
D) They were able to employ 3D design software. 
A) They rapidly increased the number of employees working for the company. 
B) They raised money quickly to fund their development. 
C) They saved labor costs while improving efficiency. 
D) They were able to employ 3D design software.

Question 15

How does equity crowdfunding differ from other types of crowdfunding?

Accepted Answer

A) Investors are given the opportunity to become company shareholders. 
B) Funds are raised from a community of angel and venture capitalists. 
C) Funds are provided by the government. 
D) Financial institutions are allowed to raise funds on these sites. 
A) Investors are given the opportunity to become company shareholders. 
B) Funds are raised from a community of angel and venture capitalists. 
C) Funds are provided by the government. 
D) Financial institutions are allowed to raise funds on these sites.

Question 16

Why is crowdfunding a growing choice for entrepreneurs?

Accepted Answer

A) Connecting with people through the Internet demonstrates tech-savviness to later investors 
B) Banks and investors are growing more cautious, so crowdfunding is a more viable option. 
C) All types of entrepreneurs can receive backing to start their own business. 
D) Young investors tend to be more willing to invest. 
A) Connecting with people through the Internet demonstrates tech-savviness to later investors 
B) Banks and investors are growing more cautious, so crowdfunding is a more viable option. 
C) All types of entrepreneurs can receive backing to start their own business. 
D) Young investors tend to be more willing to invest.

Question 17

You would like to raise funds for a foodbank in your local community.Kickstarter would be an excellent source for the initial funds.

Accepted Answer

A) True 
 B)False

Question 18

Who generally funds the site when crowdsourcing for medical information?

Accepted Answer

A) patients who want to benefit from future medical treatment 
B) the potential medical provider (e.g., pharmaceutical companies) 
C) third-party backers 
D) no funding is required 
A) patients who want to benefit from future medical treatment 
B) the potential medical provider (e.g., pharmaceutical companies) 
C) third-party backers 
D) no funding is required

Question 19

SuLin is setting up a small construction shop and uses his personal credit card to purchase the company's basic equipment.This process is referred to as which of the following:

Accepted Answer

A) venture capital 
B) credit 
C) external funding 
D) bootstrapping 
A) venture capital 
B) credit 
C) external funding 
D) bootstrapping

Question 20

Which of the following is an advantage of bootstrapping and starting slowly?

Accepted Answer

A) The business will grow faster without interference from venture capitalists. 
B) You are more likely to build a larger customer base due to a slower start. 
C) You will not spend personal funds. 
D) You will avoid risk. 
A) The business will grow faster without interference from venture capitalists. 
B) You are more likely to build a larger customer base due to a slower start. 
C) You will not spend personal funds. 
D) You will avoid risk.

What percentage of Kickstarter projects have been successful?

Lorraine offers to give people a percentage of the profits earned from her theater production as a reward for donating $100 to the production's equipment.Kickstarter did not approve her campaign because:

It is important to be conservative in setting the financial goal in a crowdfunding campaign.

Which of the following crowdfunding sites would be best if raising money for a new invention?

Quirky is a site that helps investors raise funds.

In reference to crowdfunding, a backer is best described as:

What does the term digital printing mean?

Crowdfunding and crowdsourcing would be considered which of the following strategies?

Which of the following would be considered an acceptable penny-pinching strategy?

Which of the following is NOT a crowdfunding mistake?

One of the problems with the Coolest Cooler was that:

In addition to raising funds in a given period of time, what else is required in a Kickstarter project?

Jose starts a small restaurant.On weekends, he works with his cousin to construct the tables, chairs, and counters that will go into the restaurant.What is the name given to the result of these efforts?

What was the primary benefit Local Motors gained from outsourcing manufacturing and design?

How does equity crowdfunding differ from other types of crowdfunding?

Why is crowdfunding a growing choice for entrepreneurs?

You would like to raise funds for a foodbank in your local community.Kickstarter would be an excellent source for the initial funds.

Who generally funds the site when crowdsourcing for medical information?

SuLin is setting up a small construction shop and uses his personal credit card to purchase the company's basic equipment.This process is referred to as which of the following:

Which of the following is an advantage of bootstrapping and starting slowly?

Entrepreneurship: a Global Social Movement

Practicing Entrepreneurship

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Building Business Models

Planning for Entrepreneurs

Creating Revenue Models

Learning From Failure

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

Financial Statements and Projections for Startups

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Exam 12: Bootstrapping for Resources

What percentage of Kickstarter projects have been successful?

Lorraine offers to give people a percentage of the profits earned from her theater production as a reward for donating $100 to the production's equipment.Kickstarter did not approve her campaign because:

It is important to be conservative in setting the financial goal in a crowdfunding campaign.

Which of the following crowdfunding sites would be best if raising money for a new invention?

Quirky is a site that helps investors raise funds.

In reference to crowdfunding, a backer is best described as:

What does the term digital printing mean?

Crowdfunding and crowdsourcing would be considered which of the following strategies?

Which of the following would be considered an acceptable penny-pinching strategy?

Which of the following is NOT a crowdfunding mistake?

One of the problems with the Coolest Cooler was that:

In addition to raising funds in a given period of time, what else is required in a Kickstarter project?

Jose starts a small restaurant.On weekends, he works with his cousin to construct the tables, chairs, and counters that will go into the restaurant.What is the name given to the result of these efforts?

What was the primary benefit Local Motors gained from outsourcing manufacturing and design?

How does equity crowdfunding differ from other types of crowdfunding?

Why is crowdfunding a growing choice for entrepreneurs?

You would like to raise funds for a foodbank in your local community.Kickstarter would be an excellent source for the initial funds.

Who generally funds the site when crowdsourcing for medical information?

SuLin is setting up a small construction shop and uses his personal credit card to purchase the company's basic equipment.This process is referred to as which of the following:

Which of the following is an advantage of bootstrapping and starting slowly?

Entrepreneurship: a Global Social Movement

Practicing Entrepreneurship

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Building Business Models

Planning for Entrepreneurs

Creating Revenue Models

Learning From Failure

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

Financial Statements and Projections for Startups

the Pitch Deck

Filters