LPQ Quizzes Compilation 2022/23

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LPQ Quizzes Compilation 2022/23 The path of successive opportunities that make up our worklife; and the pursuit of progressive achievement that we build throughout the course of our adult lives is k ... nown as: - >>>>A Career Which of the following provides an opportunity for employees to anonymously report theft or potential theft situations, as well as other unscrupulous activities? - >>>>Employee Hotline programs This type of retailer would categorize what you might typically consider when envisioning the traditional Loss Prevention environment, encompassing the classic Department store-type culture with varying market niches. Generally the stores are larger in size, and maintain an exclusive Loss Prevention team within the store: - >>>>Big Box Retailers Generally speaking, this type of retailer involves those stores that specialize in a particular type of clothing/apparel or accessories. Typically these are the smaller stores found in malls and strip centers, and specialize in a particular type of apparel, shoes, accessories, jewelry or other specialty item: - >>>>Specialty Retailers What is the role of Loss Prevention? - >>>>To reduce shrink and enhance company profitability From a statistical perspective, which of the following typically accounts for the greatest percentage of retail losses? - >>>>Employee Theft Who holds the responsibility for making an arrest following a shoplifter incident? - >>>>Law Enforcement Exploring what happened, what caused an event to happen, who was responsible, what action should be taken to correct the situation and what steps should be taken to prevent the incident from happening again describes the purpose of: - >>>>An Investigation In general terms, which of the following typically has the greatest opportunity to steal from a retail organization? - >>>>Retail Employees Generally speaking, this type of retailer involves those that specialize in non-apparel items such as Office Supplies, Bookstores, Drug stores, Electronics, Sporting Goods, and similar retailers. The stores may stand alone or be included in a mall or strip center, and offer their own unique set of opportunities and issues based on the specific merchandise that is sold: - >>>>Category Killers The business framework for the management of the acquisition, storage, transportation and delivery of goods along the supply chain is known as: - >>>>Logistics In most retail organizations, a single individual cannot be responsible for verifying the count for the point of sale drawer, preparing the store's deposit, delivering the deposit to the bank, and then verifying the deposit statement with the daily sales reports. There should be at least two people involved in this process, and in an ideal environment, a different person involved each step of the way. This practice is commonly referred to as: - >>>>A Segregation of Duties The coordinated system of organizations, people, activities, information and resources involved in moving a specific product or service from the supplier to the customer is known as: - >>>>The Supply Chain What factor is most often considered a benchmark for the success of a Loss Prevention program? - >>>>Shrink Performance Ultimately, what drives the retail business? - >>>>Retail Sales The positive return made on an investment after all costs have been accounted for is known as: - >>>>Economic Profit These reports offer us real-time data on inventory levels for specific products, sales history for those items, replenishment schedules, and product availability in surrounding stores: - >>>>Inventory Management Report Representatives of a company whose purpose is to procure the goods/products that are to be sold to its consumers; selecting specific goods and negotiating the quantity of goods purchased and the price per unit at which those goods are purchased are commonly known - >>>>Buyers The total process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, organizations, and events to create and maintain our relationship with the customer is commonly known as: - >>>>Marketing These reports help us to quickly spot errors and exceptional register activity that might point to poor performance and/or potentially fraudulent activity. They allow us to effectively identify, track and manage all transactions and activity that occurs at our register areas/point of sale terminals: - >>>>Exception Report The crime of taking or attempting to take property from the care, custody or control of another by force, through the threat of violence or force, or by other means of intimidation is known as: - >>>>Robbery The difference between all expenses (including the costs of goods and all variable expenses) and total sales revenue is known as: - >>>>Net Margin The dollar amount a seller collects after deducting all of the various costs that are associated with a sale is known as: - >>>>Net Sales The direct amount that the retailer pays for [Show More]

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