1. What is the main purpose of entrepreneurship?

a) To take risks
b) To create something new of value
c) To avoid responsibilities
d) To rely on existing structures
Answer: b) To create something new of value
2. Who defines entrepreneurship as the process of creating something of value with
necessary time and effort?
a) Eston Kimani
b) UiTM Entrepreneurship Study Group
c) Robert D. Hisrich, M. Peters & D.A Shepherd
d) United Commercial Bank
Answer: c) Robert D. Hisrich, M. Peters & D.A Shepherd
3. An entrepreneur is someone who...
a) Only manages large corporations
b) Avoids risk at all costs
c) Recognizes opportunities and creates ventures
d) Works only within established companies
Answer: c) Recognizes opportunities and creates ventures
4. Which of these is a typical outcome of engaging in entrepreneurship?
a) Guaranteed success
b) Innovation or newness in products or services
c) Avoiding financial risks
d) Limiting resource use
Answer: b) Innovation or newness in products or services
5. Which competency is NOT considered essential for entrepreneurs?
a) Initiative
b) Information seeking
c) Systematic and organized planning
d) Disinterest in quality
Answer: d) Disinterest in quality
6. What is the first step in the entrepreneurial process?
a) Developing a business plan
b) Identifying and evaluating the opportunity
c) Managing resources
d) Organizing a team
Answer: b) Identifying and evaluating the opportunity
7. What benefit does entrepreneurship offer regarding personal potential?
a) Increased job satisfaction
b) Unlimited vacation time
c) Minimal responsibility
d) Fixed work schedule
Answer: a) Increased job satisfaction
8. Entrepreneurs are often driven by the opportunity to...
a) Make a difference
b) Avoid competition
 c) Reduce work hours
d) Limit responsibilities
Answer: a) Make a difference
9. Which of these is a benefit of entrepreneurship?
a) Low stress levels
b) Opportunity to engage in work of choice
c) Guaranteed income
d) Avoiding hard work
Answer: b) Opportunity to engage in work of choice
10. A common drawback of entrepreneurship is...
a) Complete job security
b) Uncertainty of income
c) Low responsibility
d) Easy market entry
Answer: b) Uncertainty of income
11. What is one way to avoid failure in an entrepreneurial business?
a) Ignore market research
b) Focus solely on profit
c) Develop a solid business plan
d) Avoid customer feedback
Answer: c) Develop a solid business plan
12. One of the “ten deadly mistakes” in entrepreneurship includes...
a) Over-hiring staff
b) Lack of experience
c) Excessive market research
d) Following a business plan too closely
Answer: b) Lack of experience
13. What personal quality helps entrepreneurs overcome discouragement?
a) Negativity
b) Optimism
c) Laziness
d) Risk aversion
Answer: b) Optimism
14. Entrepreneurs need to be ready to make decisions in areas they are...
a) Completely comfortable with
b) Familiar with
c) Unfamiliar with
d) Uninterested in
Answer: c) Unfamiliar with
15. Entrepreneurs contribute to society by...
a) Hoarding resources
b) Creating jobs
c) Limiting new products
d) Avoiding social responsibilities
Answer: b) Creating jobs
16. High levels of stress in entrepreneurship are often due to...
a) Lack of responsibility
b) Complete job security
c) Uncertain business outcomes
d) Minimal work hours
Answer: c) Uncertain business outcomes
17. Entrepreneurial success requires which approach to managing resources?
a) Ignoring financial resources
b) Effective management of resources
c) Only focusing on human resources
d) Limiting resource use
Answer: b) Effective management of resources
18. A drawback for entrepreneurs often includes...
a) Short working hours
b) Complete independence from stress
c) Long hours and hard work
d) Guaranteed business success
Answer: c) Long hours and hard work
19. Effective communication for an entrepreneur is essential for...
a) Avoiding challenges
b) Managing only internal issues
c) Both internal and external engagement
d) Limiting business growth
Answer: c) Both internal and external engagement
20. Entrepreneurs aiming for high-quality work demonstrate...
a) Disinterest in productivity
b) Concern for high output and quality
c) A need for work-life balance
d) Minimal effort
Answer: b) Concern for high output and quality
21. Commitment to work contracts in entrepreneurship shows...
a) Indifference to deadlines
b) High responsibility and dedication
c) Laziness in work
d) Avoidance of contract obligations
Answer: b) High responsibility and dedication
22. Entrepreneurs must have a high level of...
a) Self-doubt
b) Self-confidence
c) Dependency on others
d) Avoidance of risks
Answer: b) Self-confidence
23. Creating something new in entrepreneurship is known as...
a) Risk management
b) Creation process
c) Marketing plan
 d) Employee satisfaction
Answer: b) Creation process
24. An entrepreneur’s work often results in...
a) Increased national wealth
b) No societal impact
c) Limited opportunities
d) Reduced employment
Answer: a) Increased national wealth
25. Entrepreneurship offers a chance to...
a) Work less than others
b) Follow a standard career path
c) Create your own destiny
d) Rely on government support
Answer: c) Create your own destiny
26. Societal recognition is a benefit of entrepreneurship because...
a) Entrepreneurs often work in isolation
b) Small business owners are admired
c) It guarantees business success
d) Entrepreneurs avoid public engagement
Answer: b) Small business owners are admired
27. What is necessary to keep physically fit as an entrepreneur?
a) Smoking regularly
b) Avoiding stress management
c) Consuming healthy foods
d) Ignoring health issues
Answer: c) Consuming healthy foods
28. Which factor is NOT a benefit of entrepreneurship?
a) Opportunity to work in a preferred field
b) Constant financial security
c) Ability to make a difference
d) Reaping extraordinary profits
Answer: b) Constant financial security
29. One reason for the high failure rate in small businesses is...
a) Strong financial control
b) Uncontrolled growth
c) Solid business planning
d) Consistent revenue
Answer: b) Uncontrolled growth
30. How do entrepreneurs handle setbacks?
a) By giving up easily
b) Through optimism and hard work
c) By ignoring the problem
d) By avoiding all challenges
Answer: b) Through optimism and hard work