FBLA Retail Management practice test
Retail Management covers running a retail business: merchandising, pricing, store operations, inventory control, the customer experience, and e-commerce.
Topics on the FBLA Retail Management test
- Retail strategy and store formats
- Merchandise planning and buying
- Pricing, markup, and markdowns
- Inventory control and loss prevention
- Store operations and visual merchandising
- Customer experience and omnichannel retail
Free FBLA Retail Management practice questions and answers
Try each question before opening the answer. Every AI practice test explains its answers the same way.
Question 1
A retailer’s cost of goods sold is $500,000 and its average inventory at cost is $100,000. What is the inventory turnover?
- A0.2
- B2
- C5
- D50
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Answer: C. 5
Inventory turnover = cost of goods sold ÷ average inventory at cost = $500,000 ÷ $100,000 = 5 times per year.
Question 2
A sweater priced at $80 is marked down to $60. What is the markdown percentage based on the original price?
- A20%
- B25%
- C33%
- D75%
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Answer: B. 25%
The markdown is $20, and $20 ÷ $80 = 25%.
Question 3
Selling through stores, a website, and a mobile app with one connected customer experience is called:
- AOmnichannel retailing
- BWholesaling
- CFranchising
- DDirect mail marketing
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Answer: A. Omnichannel retailing
Omnichannel retailers link their channels, for example letting shoppers buy online and pick up in store.
How to study for FBLA Retail Management
Know the key retail metrics (inventory turnover, gross margin, markup, markdown, sales per square foot) and practice calculating each.
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Start practicing freeFBLA Retail Management FAQ
How many questions are on the FBLA Retail Management test?
Retail Management is an objective test event. Under the current guidelines, FBLA objective tests are typically 100 multiple-choice questions in 50 minutes. Check the official FBLA competitive event guidelines for your season and conference.
What topics are on the FBLA Retail Management test?
Expect questions on retail strategy and store formats; merchandise planning and buying; pricing, markup, and markdowns; inventory control and loss prevention; store operations and visual merchandising; and customer experience and omnichannel retail.
Are these official FBLA Retail Management questions?
No. The sample questions are original and written in the style of FBLA objective tests. TierOne is an independent study aid and is not affiliated with FBLA.