Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Entrepreneurship and Start Up Total Number of Question: 40 Time: 41 Minutes Please check your email after completion of test for result. All the best... Name Phone No Email Area Pin Code 1. Who is considered the ‘Father of Modern Entrepreneurship’? Joseph Schumpeter Adam Smith Peter Drucker David McClelland None 2. Which of the following is NOT a characteristic of an entrepreneur? Risk-taking Innovation Procrastination Visionary thinking None 3. Entrepreneurship is best defined as: The process of starting a business Managing an existing business Being employed in a large company Avoiding risks None 4. Which of the following is NOT a type of entrepreneurship? Social entrepreneurship Corporate entrepreneurship Imitative entrepreneurship Passive entrepreneurship None 5. Which of the following best describes a ‘start-up’? A large, established company A newly formed business that seeks to scale A government-run enterprise A non-profit organization None 6. Which theory of entrepreneurship focuses on the need for achievement? Schumpeter’s Innovation Theory McClelland’s Theory Knight’s Risk Bearing Theory Drucker’s Management Theory None 7. Which of the following is NOT a motivation for entrepreneurship? Financial independence Job security Desire for innovation Passion for business None 8. According to Schumpeter, an entrepreneur is primarily a/an Manager Risk-taker Innovator Follower None 9. Which of the following is an example of pull motivation in entrepreneurship? Unemployment Dissatisfaction with a current job Desire to create something new Lack of job opportunities None 10. Which of the following is a key trait of an entrepreneurial mindset? Risk aversion Fixed mindset Adaptability Dependence on others None 11. Which of the following is a key component of a business model? Personal hobbies Revenue streams Political preferences Family background None 12. A lean start-up approach emphasizes: Heavy initial investments Rapid product development with customer feedback Expensive marketing campaigns Long-term detailed business plans None 13. Which document is crucial when seeking investors for a start-up? Income tax return Business plan Salary slip Employee handbook None 14. A unique value proposition (UVP) primarily focuses on: Employee benefits Differentiation from competitors Government policies Legal obligations None 15. The term ‘bootstrapping’ in start-ups means: Relying on self-funding without external investment Taking loans from banks Relying on government grants Seeking angel investors None 16. Angel investors primarily invest in: Large corporations Start-ups in the early stages Government projects Non-profit organizations None 17. Venture capital is most suitable for: High-growth start-ups Family-run businesses NGOs Traditional manufacturing firms None 18. Which of the following is NOT a source of start-up funding? Bank loans Crowdfunding Government subsidies Employee salaries None 19. Break-even analysis helps in: Determining the point where revenue equals expenses b) Tax planning Employee management Setting marketing strategies None 20. Seed funding is usually provided At the growth stage In the early stages of a start-up Only to publicly traded companies By government agencies only None 21. Which Indian government initiative supports start-ups? Skill India Digital India Start-up India Make in India None 22. MSMEs in India are classified based on: Annual revenue Number of employees Investment in plant & machinery and turnover Personal wealth of the owner None 23. Which body regulates start-up recognition in India? RBI Ministry of Corporate Affairs Department for Promotion of Industry and Internal Trade (DPIIT) SEBI None 24. Which of the following is NOT a benefit of the Start-up India scheme? Tax exemption Access to funding Free government grants Patent fee reduction None 25. Which of the following is a challenge for start-ups? Market validation Unlimited funding Guaranteed success No competition None 26. Which of the following is an example of disruptive innovation? Launch of a new soft drink flavor Introduction of electric vehicles replacing gasoline cars Rebranding an existing product Launching a traditional bookstore None 27. Which business growth strategy involves expanding into new markets with existing products? Market penetration Market development Diversification Product development None 28. Which type of innovation focuses on improving existing products? Radical innovation Incremental innovation Disruptive innovation Business model innovation None 29. An entrepreneur who creates a new product using AI and sells it globally is engaging in: Local trade Digital entrepreneurship Social entrepreneurship Imitative entrepreneurship None 30. Which of the following is a key benefit of innovation in entrepreneurship? Increased competition Stagnant business growth Competitive advantage High employee turnover None 31. Which of the following is NOT a financial risk for start-ups? Cash flow problems High taxation Unstable market conditions Employee motivation None 32. Which risk involves competitors copying a start-up’s unique idea? Financial risk Legal risk Market risk Intellectual property risk None 33. A high burn rate in a start-up means: The start-up is losing money quickly The start-up is growing rapidly The start-up has received funding The start-up is self-sustaining None 34. Which of the following is a common reason for start-up failure? Too many investors Lack of market need Too much customer demand Too much government support None 35. Which of the following strategies helps manage entrepreneurial risk? Ignoring potential risks Avoiding new markets Conducting thorough market research Relying only on personal funding None 36. Which leadership style is most effective in start-ups? Autocratic Transformational Laissez-faire Bureaucratic None 37. Ethical entrepreneurship primarily focuses on: Maximizing short-term profits Exploiting customer demand Conducting business with integrity and fairness Avoiding corporate social responsibility None 38. Corporate Social Responsibility (CSR) in start-ups means: Ignoring social and environmental concerns Donating a portion of profits to social causes Expanding the business aggressively Avoiding compliance with laws None 39. Which of the following is an unethical business practice? Fair employee wages Transparent pricing Misleading advertising Customer satisfaction programs None 40. Which is NOT a characteristic of an ethical entrepreneur? Honesty Social responsibility Corruption Fair business practices None 1 out of 4 Great job on taking the INCOC Test! We appreciate your interest in test. Look out for results and future opportunities. Stay Connected !! Your quiz time is about to finish. Few seconds left. Time's upYou cannot switch tabs while taking this quiz!You are not allowed to switch tabs violation has been recorded.you cannot minimize full screen mode!You are not allowed to minimize full screen while taking this quiz, violation has been recorded.Access denied! To begin the quiz, please grant this quiz access to your camera.Time is Up!Time is Up!
