Free Practice Quiz Question List

9 Venture Planning and Execution Online Quiz Questions

Use this free practice quiz with 20 questions to review 9 Venture Planning and Execution, test your knowledge, and prepare for your next test or exam.

20 questions

True or false

1 point

A venture plan is a working model of how a venture expects to create value and operate, not a promise that its forecasts will come true. True or false?

A
True
B
False

Written response

1 point

In the example of a testable customer-demand assumption, at least how many local offices are expected to pay for weekday lunch delivery?

Fill in the blank

1 point

A milestone is a that shows whether a venture is ready for its next stage, not merely an activity completed.

Choose one

1 point

A founder has limited time and money for testing assumptions. Which approach best reduces the risk of making a costly commitment based on a wrong guess?

A
Test whichever assumption is easiest to investigate, regardless of its potential effect on the venture.
B
Test assumptions that are both uncertain and consequential, using the least costly credible test available.
C
Delay testing assumptions until the venture has completed its detailed business plan.
D
Focus first on assumptions about minor choices because they are easiest to change.

True or false

1 point

“Build a website” is a strong milestone because completing the activity proves that the venture has achieved a customer-related result. True or false?

A
True
B
False

Fill in the blank

1 point

To make a startup-cost estimate more complete, include both .

Choose one

1 point

A venture's sales forecast exceeds what its current marketing reach and operating capacity appear to support. What is the best planning response?

A
Set the sales forecast independently so it can express the venture's ambition.
B
Base the forecast only on the number of customers the operations team wants to serve.
C
Check that marketing can plausibly reach the forecast customers and operations can fulfill the forecast volume.
D
Use the forecast to determine customer demand without testing assumptions.

Written response

1 point

What analysis compares fixed costs with the contribution margin per sale?

Choose all

1 point

A founder is defining a milestone before committing more resources. Select all the elements the milestone should specify.

A
The outcome and how it will be counted.
B
A guarantee that the milestone will be achieved.
C
The responsible owner and required resources.
D
A list of every possible future competitor.
E
The target date for reviewing the result.
F
The evidence-based rule for continuing, changing approach, or pausing.

Choose all

1 point

A team is documenting a major risk that could disrupt its venture. Select all the details that belong in a useful risk record.

A
Likelihood and potential impact.
B
An early warning sign and an owner.
C
A guarantee that the risk will not occur.
D
A prevention or mitigation action.
E
A contingency for responding if the risk occurs.

Choose one

1 point

A prepared-meal venture gets paid trial orders, but delivery costs erase its margin. What is the most appropriate next step before expanding?

A
Expand delivery immediately because paid orders prove the business model is sustainable.
B
Test changes such as a delivery minimum, pickup option, or different service area before expanding.
C
Ignore delivery costs if customers are satisfied with the meals.
D
Increase the sales forecast to offset the delivery expense without changing operations.

Choose one

1 point

A founder conducts customer interviews and a small paid pilot. How can these activities most usefully inform the venture?

A
It guarantees that customers will buy the offer at the proposed price.
B
It removes the need to estimate operating costs.
C
It is mainly useful for deciding the venture's legal structure.
D
It can inform both the offering and the venture's business model.

Open ended

1 point

A founder plans to launch weekday lunch delivery to nearby offices. Explain how the founder could use a small, evidence-based test to decide whether to expand, adapt, or pause. Include how to test customer assumptions, assess operating costs, and define at least one decision-ready milestone.

Choose one

1 point

Which statement best describes the purpose of a venture plan?

A
A promise that forecasts will come true
B
A working model that can be adapted as the venture changes
C
A fixed document that should not change after launch

True or false

1 point

A founder should keep a venture plan unchanged even when new evidence shows that its assumptions may be wrong.

A
True
B
False

Choose one

1 point

A founder has limited time and money to test assumptions. Which approach best reduces the risk of building the venture around a damaging guess?

A
Test whichever assumption is easiest to measure, regardless of its impact
B
Wait until all assumptions can be tested at once
C
Test the assumptions that are both uncertain and consequential, using the least costly credible test
D
Focus first on minor choices that are inexpensive to change

Written response

1 point

A founder interviews prospective buyers and uses what they learn to refine both the offer and the business model. What is this learning process called?

Choose one

1 point

A venture’s sales forecast assumes 500 monthly orders, but its marketing plan can plausibly reach far fewer customers and its current operation can fulfill only 150 orders. What is the best planning response?

A
Set the sales forecast independently so it can express the founder’s ambition
B
Align the forecast with the customers marketing can reach and the volume operations can fulfill
C
Base the forecast only on the venture’s startup expenses
D
Use the forecast to replace decisions about staffing and delivery capacity

Written response

1 point

A milestone specifies what evidence would justify continuing, changing approach, or pausing. What is this component of the milestone called?

Choose one

1 point

A prepared-meal venture gets paid trial orders, but delivery costs erase the margin on each meal. What should it do before expanding?

A
Expand the service area immediately to increase order volume
B
Reduce ingredient quality without testing customer response
C
Test a delivery minimum, pickup option, or different service area before expanding
D
Ignore delivery costs if customers place orders