Assessment Quizzes

Business Math Boot Camp I Quiz

These six Business Management Questions (BMQs™) reflect the types of everyday issues you face in the CPG/FMCG industry. Please answer as many questions as you can in 15 minutes. To obtain an accurate assessment of your math knowledge, we encourage you to complete this quiz without aids such as formula sheets, business calculators, or Excel spreadsheets and without any assistance from coworkers.

Please use the proper symbol that is appropriate for your answer - $, % etc.

Question 1:

Toy Yoda sales grew from $10,000 last year to $12,000 this year. The total category grew from $80,000 to $120,000. What is the dollar value of Toy Yoda’s lost market share?
Question 2:

An item costs a retailer $3.30. To make a 26.5% gross margin, what should the retail price be?
Question 3:

Your brand sold 37% more than competition. Competition sold what percent less than your brand?
Question 4:

Your goal is to grow your profit dollars by 10% next year, but you expect no growth in unit sales. Based on this year’s results shown below, assuming no changes in retail price or cost, how many units must you shift from Standard Products to Premium Products in order to achieve your goal?

  Sales Unit Sales Dollars Profit Dollars
Premium Products 542,234 $4,847,572 $1,957,456
Standard Products 1,234,523 $6,678,769 $925,892
TOTAL 1,776,757 $11,526,341 $2,883,348
Question 5:

Last quarter, you sold $500,000 at a 32% gross margin. This quarter, you plan to raise prices to increase your gross margin by three points, and you expect a 4% drop in sales dollars. What percent change in gross margin dollars would you expect?
Question 6:

Your total business was flat at $25,000,000 this year and last year. Unfortunately, you had a mix shift. This year’s premium product sales were $8,250,000, which was a 34% decline versus last year. How many points of share of your business did premium products lose?
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