Terry Core Challenge

This Week’s Question

The Core Challenge is over for Fall Semester 2016. Check back in the Spring for the next installment!

Past Answers

Week 1 Aug 22–Aug 24

Which of the following would NOT be considered a product cost for a manufacturer?

  • Salary paid to the factory supervisor
  • Rent paid for the manufacturing facility
  • Wages paid to the factory machine operators
  • Depreciation on the equipment in the sales offices
  • Delivery charges paid for raw materials shipped to the company
Week 2 Aug 29–Aug 31

Galt Quickie Loans wants to earn an effective annual return of 18% on the consumer loans it makes. Galt uses monthly compounding on all loans, so what interest rate must be disclosed on its loan document as the annual percentage rate (APR)?

  • 14%
  • 16.67%
  • 312%
  • 11.66%
  • 35.33%
Week 3 Sep 5–Sep 7

Gina intentionally misrepresents a number of important details while negotiating the sale of her house to Sophie. When Sophie discovers the truth, she can:

  • rescind the contract on the basis of fraud.
  • rescind the contract on the basis of mistake.
  • rescind the contract on the basis of undue influence.
  • rescind the contract on the basis of misrepresentation.
Week 4 Sep 12–Sep 14

___________ is an international market-entry strategy whereby a firm headquartered in one country builds or purchases operating facilities in a foreign country.

  • Strategic alliance
  • Joint venture
  • Direct investment
  • Licensing
  • Exporting
Week 5 Sep 19–Sep 21

Today, an organization’s competitive advantage often comes from its ability to deal with data. Which of the following terms describes a way that organizations are working with their data to gain insight?

  • Business intelligence
  • Process manipulation
  • Data-driven design
  • Archive scrambling
  • All of the above
Week 6 Sep 26–Sep 28

The Federal Reserve’s purchase of government securities will:

  • decrease bank reserves
  • allow banks to make more loans.
  • be an effective anti-inflationary policy.
  • decrease the price level and have no effect on real GDP.
Week 7 Oct 3–Oct 5

True or False?
Introducing a new drug, such as Datril™, and stating that “It is just like Tylenol™, only cheaper” is an example of introducing a product with a very good sustainable competitive advantage since you are likely to draw customers from Tylenol™.

  • True
  • False
Week 8 Oct 10–Oct 12

The basic financial statements include the:

  • balance sheet
  • income statement
  • statement of cash flows
  • statement of retained earnings
  • all of the above
Week 9 Oct 17–Oct 19

Which country is not part of BRIC?

  • Brazil
  • India
  • Russia
  • Chile
Week 10 Oct 31–Nov 2

The farther from zero the demand elasticity for a product is, the ____ buyers respond to price changes, and the ____ a profit-maximizing seller should mark up its price over its marginal cost.

  • more; more
  • more; less
  • less; more
  • less; less
Week 11 Nov 7–Nov 9

The promotional mix consists of:

  • product, promotion, price, and place
  • advertising, publicity, direct marketing, and personal selling
  • public relations, direct marketing, personal selling, and publicity
  • advertising, personal selling, sales promotion, and public relations
  • advertising, telemarketing, public relations, and sales promotion
Week 12 Nov 14–Nov 16

You want to buy a painting that costs $30,000. The art dealer says he offers to lend you the money, and you will repay the loan by making the same payment every two years for the next 20 years (i.e., 10 total payments). If the interest rate is 6%, how much will you have to pay every two years?

  • $4,924
  • $5,231
  • $5,310
  • $5,388

How It Works

water bottle
Win a Terry water bottle and key chain!

Who can participate?

The Terry Core Challenge is only open to Terry students.

How to play

You’ll find a new question posted here each Monday. It’s also posted on Facebook and Twitter.

The question relates to the BBA curriculum. (Hope you’ve been paying attention…)

Answer the question by 8 a.m. Thursday.

If you answer correctly, you may win this nifty stainless steel Terry water bottle and key chain (it’s a dog bone)!

We’ll give a prize away every Friday. Don’t worry — we’ll email you if you win.

But wait… there’s more!

Answer a majority of the questions correctly and you’ll also be entered in a drawing for lunch with Dean Ayers.

Simple enough, right? Good luck!

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