Page 64 - THE CARIBBEAN ADVANCED PROFICIENCY EXAMINATIONS

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16. Which of the following is NOT a method 20. What is the LAST step to be taken by an
of generating a venture idea? entrepreneur in selecting a business
opportunity?
(A) Training
(B) Checklist (A) Preparing a business plan
(C) Notebook (B) Screening of business opportunity
(D) Brainstorming (C) Evaluating self and the
community
(D) Identifying the needs and wants
17. Which of the following organizations will of customers
MOST likely give financial assistance and
technical support to implement a business
idea? 21. Which of the following strategies can be
described as both harvesting and exit?
(A) Central banks
(B) Angel investors (A) Licensing
(C) Commercial banks (B) Shut down
(D) Business development agencies (C) Management buyout
and programmes (D) Family succession

18. An entrepreneur creates new business in 22. Which of the following is a characteristic
the face of risk and uncertainty for the of a business idea?
purpose of achieving profit and growth by
identifying (A) Always abstract
(B) May look bad at first
(A) threats (C) Always structured and systematic
(B) people (D) Requires more than one person to
(C) products generate
(D) opportunities

23. The first step in the entrepreneurial
19. Every business venture starts with process ESSENTIALLY involves

(A) capital (A) idea generation
(B) an idea (B) resource mobilization
(C) a market (C) opportunity identification
(D) an opportunity (D) business concept utilization

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02124010/SPEC 2013