Test how much you know about business (calculate, expenses, company)

[mikejj2004]

I have been researching the SAT, GMAT, IQ tests and I don't really think they predict how well someone will do in business. In the case of the SAT and GMAT it seems to be a combination of how much you've studied for it and intelligence while IQ tests are straight intelligence. I decided to create my own test that measures how much someone knows about business that is more of a real world test. I need some people to take it so I can get a baseline score then I can calculate what percentile people are in of business knowledge.

This is the test, its 30 questions and is timed to 10 minutes.
Business IQ Test / Quiz School

[Traderx]

I got 26 of 27 because question 26 didn't show up, do I get a cookie?

Btw, while fun your test has absolutely nothing to do with the knowledge necessary to run a business or do well in business.

[mikejj2004]

Originally Posted by Traderx

I got 26 of 27 because question 26 didn't show up, do I get a cookie?

Btw, while fun your test has absolutely nothing to do with the knowledge necessary to run a business or do well in business.

Really what kind of questions would be better for how to run a business or do well in business?

[HappyTexan]

I got 22 out of 27 with no cheating

More of a "how well do you know finance and financial history" test IMO.
Nice test though.

[momof2dfw]

Originally Posted by Traderx

I got 26 of 27 because question 26 didn't show up, do I get a cookie?

Btw, while fun your test has absolutely nothing to do with the knowledge necessary to run a business or do well in business.

I agree. It really did not have real world knowledge of the daily operations of a business. So what if someone knows about Mark Cuban selling Yahoo it doesn't make them a smart business person.

[mikejj2004]

Originally Posted by momof2dfw

I agree. It really did not have real world knowledge of the daily operations of a business. So what if someone knows about Mark Cuban selling Yahoo it doesn't make them a smart business person.

I see your point and I appreciate your feedback, that is why I posted this. I will add more things like that. My thought process was that, if someone knows Mark Cuban sold his company to Yahoo, then they probably know a lot of other business things but I agree I will try to balance it out more.

[momof2dfw]

You also need to understand that when it comes to running a business some people have it and some just don't. There are some that can be "great" at it for awhile then lose that drive or don't pay attention to the minor details like they once did when it was a "1 man show" and end up losing everything. One needs to be not only just keen on business but also when it comes to customer relations, employee relations, when to let an employee AND a customer go, when to do all it takes to keep a customer or employee. You have to watch your own pennies and not just believe what someone puts down in a report in front of you either. You need to know when to take risks and spend money for the future or hold onto what you've got. You have to pay attention to the market your in and everything going on in it from vendors, prices, sources of materials, changes in the way things are done, what customers needs are as they grow, etc. Most of the questions on that quiz have absolutely zero to do with our business. There are businesses in industries out there that have very profitable returns and don't give a rats rear what Microsoft is or even know who Warren Buffet is. The latest Windows version does nothing to help their business and doesn't even effect it.

One of my favorite lines I hear has always been:
"I want to own my own business so that I don't have to answer to anyone."
ROTFLMAO!!!! RIGHT! You have to answer to MORE people when you have your own business.

[Traderx]

Originally Posted by mikejj2004

Really what kind of questions would be better for how to run a business or do well in business?

I'm not sure I have great questions for you right this second, however, some of the issue's would be:

1. Understanding business models for different industries
2. Managing cash flow/expenses
3. Generating leads/closing deals
4. Managing employees
5. Managing growth
6. Setting and communicating goals and expectations
7. Marketing
8. Leadership
9. Organization and structure
10. Identifying markets/customers

These are not in any particular order and there are many other areas. These just came to mind first.

[momof2dfw]

Originally Posted by Traderx

I'm sure I have great questions for you right this second, however, some of the issue's would be:

1. Understanding business models for different industries
2. Managing cash flow/expenses
3. Generating leads/closing deals
4. Managing employees
5. Managing growth
6. Setting and communicating goals and expectations
7. Marketing
8. Leadership
9. Organization and structure
10. Identifying markets/customers

These are not in any particular order and there are many other areas. These just came to mind first.

[Bette]

I ran out of time - didn't answer 6 of them but it said I was in the top 20%. I got a real stupid one wrong. Warren Buffett mentor - ugh!!!!!!!!!!!!!

So, I got 19 out of 28 but I didn't answer 6 of them so I really missed 3. Try me again!