Business Studies June exam P2 (Mix)
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Questions and Answers

What does the Johannesburg Securities Exchange (JSE) provide a platform for?

  • Trading in commodities
  • Buying and selling stocks and bonds (correct)
  • Investing in real estate properties
  • Participating in cryptocurrency exchanges

    • Which of the following is not a type of share mentioned in the text?

  • Corporate shares (correct)
  • Ordinary shares
  • Bonus shares
  • Preference shares

    • What is the primary purpose of unit trusts?

  • Offering insurance services to businesses
  • Investors to directly purchase shares of businesses
  • Pooling money from investors into a single fund managed by professionals (correct)
  • Providing government bonds for individual investors

    • In what ways do investments play a role in business ventures according to the text?

    <p>By providing opportunities for wealth growth and business stability (D)</p> Signup and view all the answers

    Which of the following is NOT considered an investment opportunity mentioned in the text?

    <p>Real estate investments (D)</p> Signup and view all the answers

    What distinguishes unit trusts from ordinary shares?

    <p>Unit trusts involve pooling money into a single fund managed by professionals (B)</p> Signup and view all the answers

    What is the purpose of compulsory insurance in business?

    <p>To ensure a minimum level of protection for employees or the public (D)</p> Signup and view all the answers

    Which insurance type would be crucial for a business to protect against claims arising from injuries or damage to people or property?

    <p>Liability Insurance (C)</p> Signup and view all the answers

    What does the principle of 'Indemnity' in insurance ensure?

    <p>Compensation for the loss to the extent of the financial loss suffered (C)</p> Signup and view all the answers

    What is the significance of 'Utmost Good Faith (Uberrima Fides)' in insurance?

    <p>Both the insurer and the insured must act honestly and disclose all relevant facts (D)</p> Signup and view all the answers

    What do 'Over-insurance and Under-insurance' refer to in insurance?

    <p>Insuring an item beyond or below its actual value (D)</p> Signup and view all the answers

    'Reinstatement Value' in insurance refers to:

    <p>Choosing to reinstate or replace damaged property rather than cash settlement in over-insurance cases (B)</p> Signup and view all the answers

    Which aspect is essential for insurance policies according to 'Insurable Interest' principle?

    <p>Having a legal or financial interest in the object of insurance (B)</p> Signup and view all the answers

    'Average Clause' in insurance is used for what purpose?

    <p>Calculating compensation when an asset is under-insured based on its actual value (B)</p> Signup and view all the answers

    'Product Liability Insurance' primarily covers:

    <p>Legal and court costs of defending claims related to defective products causing harm (D)</p> Signup and view all the answers

    'Unemployment Insurance Fund (UIF)' is designed to provide relief to workers who ____.

    <p>Become unemployed or are unable to work due to specific reasons like maternity leave or illness (A)</p> Signup and view all the answers

    What is the main difference between problem-solving and decision-making?

    <p>Problem-solving involves identifying, analyzing, and resolving issues, while decision-making is the process of choosing between different solutions. (A)</p> Signup and view all the answers

    Which technique involves utilizing a panel of experts through iterative questionnaires to reach a consensus?

    <p>Delphi Technique (D)</p> Signup and view all the answers

    What is a key benefit of fostering creative thinking in the workplace?

    <p>Enhances productivity and maintains a competitive edge (D)</p> Signup and view all the answers

    Which step comes after identifying alternative solutions in the problem-solving process?

    <p>Evaluating alternatives (D)</p> Signup and view all the answers

    What is an essential strategy for fostering creativity in the workplace?

    <p>Recognize and reward creativity (A)</p> Signup and view all the answers

    Why is creative thinking crucial in adapting to change and maintaining a competitive edge?

    <p>Because it promotes innovation and flexibility (A)</p> Signup and view all the answers

    What is a key characteristic of successful teams according to the text?

    <p>Balancing skills, knowledge, and expertise (A)</p> Signup and view all the answers

    Which model is mentioned in the text for conflict management?

    <p>Thomas-Kilnmann model (B)</p> Signup and view all the answers

    What is the purpose of self-assessment and team performance assessment in teams?

    <p>To identify behavioral strengths and weaknesses (B)</p> Signup and view all the answers

    What is a potential negative consequence of using Nominal Group Technique for idea generation?

    <p>Limited creativity (D)</p> Signup and view all the answers

    How should organizations adapt to evolving business landscapes and emerging challenges?

    <p>By regularly evaluating and refining strategies for creativity promotion (D)</p> Signup and view all the answers

    What is crucial for maintaining team cohesion and productivity when dealing with difficult personalities?

    <p>Understanding intentions and establishing personal connections (C)</p> Signup and view all the answers

    Why is conflict management essential in team dynamics?

    <p>To enhance teamwork effectiveness (D)</p> Signup and view all the answers

    What type of team performance assessment involves identifying behavioral strengths and weaknesses?

    <p>Self-assessment and Team Performance Assessment (A)</p> Signup and view all the answers

    Why should team members avoid role and work overload?

    <p>To ensure each member contributes effectively (D)</p> Signup and view all the answers

    What type of investment is suitable for individual investors looking to preserve capital while earning interest?

    <p>Government Retail Bonds (B)</p> Signup and view all the answers

    Which type of interest involves the interest being calculated only on the principal amount?

    <p>Simple Interest (A)</p> Signup and view all the answers

    What type of investment involves investing in startups or expanding businesses, offering high risk but substantial returns?

    <p>Venture Capital (D)</p> Signup and view all the answers

    Which investment option provides diversified investment managed by professionals, lowering risk through diversification?

    <p>Managed Portfolios (A)</p> Signup and view all the answers

    What is the relationship between risk and return when making investment decisions?

    <p>Higher risks are usually associated with higher potential returns (B)</p> Signup and view all the answers

    Which investment option offers low-risk savings with slightly higher returns than a regular savings account but less liquidity?

    <p>32-Day Notice Accounts (C)</p> Signup and view all the answers

    Insurance serves as a _______ mechanism for businesses against potential losses due to unforeseen circumstances.

    <p><strong>Protective</strong> (C)</p> Signup and view all the answers

    What does ethical behavior in business refer to?

    <p>Actions guided by a set of moral principles (B)</p> Signup and view all the answers

    Which of the following is an example of unethical business practice?

    <p>Tax evasion (B)</p> Signup and view all the answers

    How is professionalism in business different from ethical behavior?

    <p>Professionalism encompasses conduct, aims, and qualities while ethics are guided by moral principles (A)</p> Signup and view all the answers

    What is a key strategy for fostering ethical and professional environments in organizations?

    <p>Establishing clear codes of conduct (A)</p> Signup and view all the answers

    How are ethical and professional behaviors related in the business context?

    <p>Ethical behavior is the foundation for professional behavior (C)</p> Signup and view all the answers

    Which of the following is an example of professional behavior?

    <p>Continuous professional development (A)</p> Signup and view all the answers

    Why is transparent communication important in fostering ethical and professional environments?

    <p>To encourage employees to report unethical behavior without fear of retaliation (D)</p> Signup and view all the answers

    What is a common challenge businesses face in maintaining ethical and professional standards?

    <p>Regular review of ethical codes (D)</p> Signup and view all the answers

    How can businesses address challenges related to maintaining ethical and professional standards?

    <p>&quot;Regular Review of Ethical Codes&quot; is an appropriate strategy (B)</p> Signup and view all the answers

    What role do industry-specific codes of conduct play in professionalism and ethics in business?

    <p>They set guidelines for expected behaviors (B)</p> Signup and view all the answers

    What is the key factor that should inform investment decisions according to the text?

    <p>Inflation rate (B)</p> Signup and view all the answers

    Which investment type involves the highest risk but offers substantial returns by investing in startups or expanding businesses?

    <p>Venture Capital (D)</p> Signup and view all the answers

    What is the fundamental relationship between risk and return when making investment decisions?

    <p>High risk yields high returns (D)</p> Signup and view all the answers

    Which investment option provides low-risk savings with slightly higher returns than a regular savings account but less liquidity?

    <p>32-Day Notice Accounts (B)</p> Signup and view all the answers

    What is a characteristic of government bonds that distinguishes them from stocks?

    <p>Low returns (B)</p> Signup and view all the answers

    Which type of interest is calculated on the principal amount only, without considering interest on interest?

    <p>Simple Interest (C)</p> Signup and view all the answers

    What is the primary purpose of the Johannesburg Securities Exchange (JSE)?

    <p>To offer a marketplace for trading securities like stocks and bonds (D)</p> Signup and view all the answers

    Which type of share is NOT mentioned in the text when discussing investments?

    <p>Corporate shares (D)</p> Signup and view all the answers

    What distinguishes unit trusts from direct business investments?

    <p>Unit trusts pool money from multiple investors and are managed by professionals (A)</p> Signup and view all the answers

    What type of investments involve placing capital in a broad spectrum of opportunities including mutual funds and venture capital?

    <p>Insurance and assurance investments (B)</p> Signup and view all the answers

    In what way do types of shares, like ordinary and preference shares, differ from founders' shares?

    <p>Founders' shares provide voting rights but limited financial returns (D)</p> Signup and view all the answers

    What distinguishes between investing directly in businesses and investing in unit trusts?

    <p>Unit trusts involve pooling money with other investors and professional management (A)</p> Signup and view all the answers

    What distinguishes ethical behavior in business?

    <p>Compliance with legal regulations (A)</p> Signup and view all the answers

    How does professionalism differ from ethical behavior in business?

    <p>Professionalism encompasses industry-specific codes of conduct (A)</p> Signup and view all the answers

    What is a key strategy for fostering ethical and professional environments in organizations?

    <p>Adherence to industry-specific codes of conduct (B)</p> Signup and view all the answers

    What is the relationship between ethical and professional behavior in the business context?

    <p>Professional behavior ensures moral soundness of actions (B)</p> Signup and view all the answers

    How can organizations address challenges related to maintaining ethical and professional standards?

    <p>Establishing ethics committees (A)</p> Signup and view all the answers

    What do unethical business practices primarily involve?

    <p>Misleading advertising (A)</p> Signup and view all the answers

    Which attribute characterizes professional behavior in business?

    <p>Effective use of work time and resources (C)</p> Signup and view all the answers

    What is a common challenge businesses face regarding ethical and professional standards?

    <p>Negligence in fulfilling job responsibilities. (D)</p> Signup and view all the answers

    What is a key benefit of fostering ethical behavior in the workplace?

    <p>Fair treatment of employees. (A)</p> Signup and view all the answers

    How do unethical business practices impact stakeholders?

    <p>By undermining trust with stakeholders. (A)</p> Signup and view all the answers

    What is a key element for successful team performance according to the text?

    <p>Mutual respect and trust (A)</p> Signup and view all the answers

    Which conflict management model is mentioned in the text?

    <p>Thomas-Kilmann model (B)</p> Signup and view all the answers

    What type of personality includes traits like being indecisive and hesitant?

    <p>Indecisive (B)</p> Signup and view all the answers

    Why is self-assessment and team performance assessment important in teams?

    <p>To identify behavioral strengths and weaknesses (B)</p> Signup and view all the answers

    What is a characteristic of successful teams mentioned in the text?

    <p>Individual responsibility towards team values (B)</p> Signup and view all the answers

    Which strategy is suggested for dealing with difficult personalities in the workplace?

    <p>Ignoring the individual (A)</p> Signup and view all the answers

    What role does 'Indemnity' play in insurance policies?

    <p>Compensates the insured for the loss suffered, to the extent of the financial loss. (C)</p> Signup and view all the answers

    What is the primary purpose of 'Utmost Good Faith (Uberrima Fides)' in insurance?

    <p>To promote honesty and full disclosure between the insurer and the insured. (A)</p> Signup and view all the answers

    Which insurance concept involves compensating for an asset that is under-insured?

    <p>Average Clause (D)</p> Signup and view all the answers

    What is the purpose of 'Over-insurance' in insurance?

    <p>To provide additional coverage beyond the actual value of the insured item. (A)</p> Signup and view all the answers

    Why is 'Liability Insurance' crucial for businesses?

    <p>To protect against claims resulting from injuries and property damage. (B)</p> Signup and view all the answers

    'Compensation for Occupational Injuries and Diseases Act (COIDA)' provides compensation to whom?

    <p>Employees who are injured or contract diseases through employment. (C)</p> Signup and view all the answers

    'Property Insurance' primarily covers losses due to which events?

    <p>Damage caused by fire, theft, and natural disasters. (A)</p> Signup and view all the answers

    'Product Liability Insurance' is specifically designed to cover what?

    <p>Legal and court costs of defending claims of bodily harm from defective products. (C)</p> Signup and view all the answers

    What is the primary distinction between problem-solving and decision-making?

    <p>Problem-solving involves recognizing and defining issues, whereas decision-making centers on selecting a course of action. (D)</p> Signup and view all the answers

    Which technique combines individual idea generation with collective decision-making to solve problems?

    <p>Nominal Group Technique (A)</p> Signup and view all the answers

    How does the Delphi Technique differ from Brainstorming in problem-solving processes?

    <p>Delphi Technique applies iterative rounds of questionnaires, whereas Brainstorming fosters creative ideas in a group setting. (A)</p> Signup and view all the answers

    Why is fostering creative thinking crucial in the workplace according to the text?

    <p>To adapt to change, improve productivity, and stay competitive. (C)</p> Signup and view all the answers

    Which step in the problem-solving process involves executing the chosen solution effectively?

    <p>Implement the Solution (C)</p> Signup and view all the answers

    What is a key benefit of utilizing the Force Field Analysis technique in problem-solving?

    <p>Enables the assessment of driving and restraining forces for change initiatives. (A)</p> Signup and view all the answers

    Why does providing resources and dedicated time for employees to explore creative solutions contribute to fostering creativity?

    <p>To empower employees to devise fresh perspectives and innovative solutions. (C)</p> Signup and view all the answers

    What distinguishes the Nominal Group Technique from Brainstorming in fostering creative thinking?

    <p>Nominal Group Technique combines individual idea generation with collective decision-making, whereas Brainstorming generates creative ideas in a group setting. (B)</p> Signup and view all the answers

    Encouraging Open Communication' in fostering creativity includes fostering an atmosphere where employees feel _____ to share their ideas.

    <p>Safe (A)</p> Signup and view all the answers

    Why is it important for businesses to apply problem-solving techniques based on the nature of the problem and organizational culture?

    <p>To ensure effective application of problem-solving methods considering varying contexts. (D)</p> Signup and view all the answers

    What is the primary function of the Johannesburg Securities Exchange (JSE)?

    <p>Facilitating trading of financial instruments like stocks and bonds (A)</p> Signup and view all the answers

    Which type of share was NOT mentioned in the text as an investment opportunity?

    <p>Convertible shares (A)</p> Signup and view all the answers

    What distinguishes unit trusts from direct investments in businesses through purchasing shares?

    <p>Unit trusts pool money into a single fund managed by professionals (C)</p> Signup and view all the answers

    What makes business investments through purchasing shares different from investing in venture capital?

    <p>Business investments provide ownership rights in specific companies unlike venture capital (B)</p> Signup and view all the answers

    In the context of securities trading, what is the distinctive feature of preference shares?

    <p>Guaranteed fixed dividend before ordinary shareholders are paid (D)</p> Signup and view all the answers

    What is the primary purpose of mutual funds in the realm of investment opportunities?

    <p>To pool money from investors into a single fund managed by professionals (D)</p> Signup and view all the answers

    What is a crucial element for successful team performance according to the text?

    <p>Mutual respect and trust among team members (A)</p> Signup and view all the answers

    Which personality type is NOT mentioned in the text as potentially challenging within a team setting?

    <p>Innovator (D)</p> Signup and view all the answers

    What is a recommended strategy for dealing with difficult personalities in a team environment?

    <p>Seeking authoritative input or ignoring when necessary (A)</p> Signup and view all the answers

    What is a characteristic of successful teams mentioned in the text?

    <p>Clear objectives and defined missions (D)</p> Signup and view all the answers

    Why is conflict management critical in a team environment according to the text?

    <p>To maintain a productive team environment by resolving conflicts effectively (C)</p> Signup and view all the answers

    Which approach is NOT recommended for conflict management in teams according to the text?

    <p>Ignoring conflicts and hoping they resolve on their own (A)</p> Signup and view all the answers

    Why is self-assessment and team performance assessment important in teams according to the text?

    <p>To ensure each team member can contribute effectively based on their strengths (C)</p> Signup and view all the answers

    What does 'Conflict Management' primarily aim to achieve within a team setting?

    <p>To maintain a harmonious and productive team environment (B)</p> Signup and view all the answers

    Why are clear objectives and defined missions crucial for successful teams?

    <p>To provide a sense of direction and purpose for the team (C)</p> Signup and view all the answers

    What do government retail bonds offer to individual investors?

    <p>Fixed returns with low risk (A)</p> Signup and view all the answers

    How do mutual funds and stokvels differ from managed portfolios in terms of risk?

    <p>Managed portfolios have lower risk due to professional management (A)</p> Signup and view all the answers

    What distinguishes 32-day notice accounts from debentures in terms of risk and liquidity?

    <p>32-day notice accounts have higher liquidity but lower returns than debentures (C)</p> Signup and view all the answers

    What is the primary difference between endowments and retirement annuities?

    <p>Endowments focus on building wealth over time with fixed returns, unlike retirement annuities (A)</p> Signup and view all the answers

    How does the relationship between risk and return impact investment decisions?

    <p>Higher risks generally correspond to higher potential returns (D)</p> Signup and view all the answers

    Which investment option offers low-risk savings with slightly higher returns than regular savings accounts but less liquidity?

    <p>32-Day Notice Accounts (C)</p> Signup and view all the answers

    What is the primary purpose of managed portfolios in investment strategies?

    <p>To diversify investments and lower risk through professional management (A)</p> Signup and view all the answers

    What is the main characteristic of debentures as investment securities?

    <p>Low-risk investments issued by companies (D)</p> Signup and view all the answers

    How do government bonds compare to stocks in terms of risk and returns?

    <p>Government bonds offer higher returns and lower risks compared to stocks (A)</p> Signup and view all the answers

    Why is understanding risk tolerance crucial in making investment decisions?

    <p>To align investments with financial goals and personal comfort levels (B)</p> Signup and view all the answers

    What is the primary difference between problem-solving and decision-making?

    <p>Problem-solving involves choosing between different solutions, while decision-making involves identifying and resolving issues. (D)</p> Signup and view all the answers

    Which problem-solving step focuses on recognizing the issue clearly?

    <p>Define the Problem (C)</p> Signup and view all the answers

    What distinguishes the Force Field Analysis technique in problem-solving?

    <p>It evaluates driving and restraining forces for change initiatives. (D)</p> Signup and view all the answers

    Why is creative thinking crucial for businesses?

    <p>It fosters an environment conducive to innovation and adaptation to change. (C)</p> Signup and view all the answers

    Which technique encourages the generation of creative ideas in a group setting?

    <p>Brainstorming (D)</p> Signup and view all the answers

    What is the essence of decision-making in business context?

    <p>Choosing between different solutions to problems. (C)</p> Signup and view all the answers

    Which step comes after evaluating alternatives in the problem-solving process?

    <p>Choose the Best Solution (C)</p> Signup and view all the answers

    What does 'Indemnity' ensure in insurance policies?

    <p>Partial compensation for the insured's loss (C)</p> Signup and view all the answers

    What is a key aspect of 'Utmost Good Faith (Uberrima Fides)' principle in insurance?

    <p>Full disclosure of all material facts (B)</p> Signup and view all the answers

    What does 'Reinstatement Value' refer to in insurance business?

    <p>Reinstating or replacing damaged property (B)</p> Signup and view all the answers

    How do over-insurance and under-insurance impact insurance claims?

    <p>Both over-insurance and under-insurance have significant implications for claims processing (D)</p> Signup and view all the answers

    What distinguishes Compulsory Insurance from Non-Compulsory (Voluntary) Insurance?

    <p>Compulsory insurance is legally mandated, while voluntary insurance is optional (C)</p> Signup and view all the answers

    Why is 'Liability Insurance' important for businesses?

    <p>To protect against claims resulting from injuries and property damage (A)</p> Signup and view all the answers

    'Product Liability Insurance' primarily covers which aspect?

    <p>Claims of bodily harm caused by defective products (C)</p> Signup and view all the answers

    'Utmost Good Faith (Uberrima Fides)' expects both parties in an insurance contract to do what?

    <p>Act honestly and disclose all material facts (B)</p> Signup and view all the answers

    'Property Insurance' primarily covers losses due to which type of events?

    <p>&quot;Acts of Third Parties&quot; like theft or vandalism (C)</p> Signup and view all the answers

    What is the primary difference between ethical behavior and professional behavior in business?

    <p>Ethical behavior is rooted in universal moral principles, while professional behavior is industry-specific. (D)</p> Signup and view all the answers

    Which of the following is a strategy for fostering ethical and professional environments in organizations?

    <p>Promoting a culture of openness and transparency in communications. (C)</p> Signup and view all the answers

    What distinguishes effective leadership in promoting ethical and professional behavior within an organization?

    <p>Setting a positive example by exhibiting ethical and professional conduct. (A)</p> Signup and view all the answers

    Which practice is essential for organizations to address challenges related to maintaining ethical and professional standards?

    <p>Regularly reviewing ethical codes to align with current laws and expectations. (D)</p> Signup and view all the answers

    What role do ethics committees play in organizations with regards to ethical and professional practices?

    <p>Reviewing practices, resolving dilemmas, and ensuring ethical standards are met. (C)</p> Signup and view all the answers

    In what way can organizations promote accountability for maintaining ethical and professional standards?

    <p>Holding individuals at all levels responsible for their actions. (C)</p> Signup and view all the answers

    'Transparency in operations' is an example of ____________ in business.

    <p>'Ethical behavior that builds trust with stakeholders.' (D)</p> Signup and view all the answers

    What distinguishes unethical business practices from professional conduct in the workplace?

    <p>Misrepresenting products or engaging in misleading advertising. (B)</p> Signup and view all the answers

    What is a critical factor for building trust between businesses and their stakeholders?

    <p>Demonstrating transparency in operations and decision-making. (D)</p> Signup and view all the answers

    What is the primary objective of the Johannesburg Securities Exchange (JSE)?

    <p>To offer a platform for trading in various financial instruments like stocks and bonds (D)</p> Signup and view all the answers

    How do unit trusts differ from direct business investments in shares?

    <p>Unit trusts involve investors pooling money into a professionally managed fund (B)</p> Signup and view all the answers

    What distinguishes preference shares from founders' shares in terms of rights and returns?

    <p>Founders' shares have priority in asset distribution during liquidation (B)</p> Signup and view all the answers

    How do mutual funds differ from venture capital investments?

    <p>Mutual funds involve pooling money from multiple investors for varied investments (A)</p> Signup and view all the answers

    In what way do bonus shares differ from ordinary shares?

    <p>Bonus shares are free shares given to existing shareholders based on company profits (A)</p> Signup and view all the answers

    What distinguishes the Johannesburg Securities Exchange (JSE) from mutual funds?

    <p>JSE is a marketplace for various financial instruments, while mutual funds pool investor money into diverse opportunities (C)</p> Signup and view all the answers

    What principle ensures that the insured is compensated for the loss to the extent of the financial loss suffered, no more, no less?

    <p>Indemnity Principle (B)</p> Signup and view all the answers

    What is the primary purpose of the Compensation for Occupational Injuries and Diseases Act (COIDA) mentioned in the text?

    <p>To offer compensation to employees injured at work (D)</p> Signup and view all the answers

    Which insurance type is NOT mandated by law but plays a crucial role in protecting businesses against various risks?

    <p>Unemployment Insurance Fund (UIF) (C)</p> Signup and view all the answers

    What concept is used to calculate compensation when an asset is under-insured?

    <p>Average Clause (A)</p> Signup and view all the answers

    What does 'Utmost Good Faith (Uberrima Fides)' require both parties in an insurance contract to do?

    <p>Disclose all relevant information honestly (A)</p> Signup and view all the answers

    What distinguishes over-insurance from under-insurance in insurance policies?

    <p>Over-insurance covers more than needed, while under-insurance covers the exact value. (B)</p> Signup and view all the answers

    What is the critical role of insurance in business sustainability according to the text?

    <p>Managing risks effectively (B)</p> Signup and view all the answers

    In what scenario might an insurer choose reinstatement value instead of cash payout?

    <p>During property damage caused by natural disasters (A)</p> Signup and view all the answers

    Why is liability insurance considered crucial for businesses?

    <p>To protect against claims from injuries or property damage (D)</p> Signup and view all the answers

    What type of insurance aims to provide short-term relief to workers who are unemployed or unable to work due to different reasons?

    <p>Unemployment Insurance Fund (UIF) (A)</p> Signup and view all the answers

    What is a key aspect of ensuring effective team performance according to the text?

    <p>Encouraging open communication (C)</p> Signup and view all the answers

    Which conflict management model is mentioned in the text as a strategy for resolving issues within a team?

    <p>Thomas-Kilmann model (D)</p> Signup and view all the answers

    How are grievances typically handled within organizations according to the text?

    <p>By addressing them through structured procedures (D)</p> Signup and view all the answers

    What is a common challenge faced by teams due to diverse personalities within the workplace?

    <p>Maintaining harmony and productivity (D)</p> Signup and view all the answers

    Which personal trait is NOT mentioned as a type of difficult personality in team settings?

    <p>Diplomatic (D)</p> Signup and view all the answers

    What method is recommended for dealing with aggressive personalities in a team setting based on the text?

    <p>Seeking authoritative input (C)</p> Signup and view all the answers

    How do successful teams balance individual contributions according to the text?

    <p>By ensuring a balance of skills and knowledge (C)</p> Signup and view all the answers

    What distinguishes compound interest from simple interest?

    <p>Compound interest is calculated on the principal amount only. (B)</p> Signup and view all the answers

    What distinguishes professionalism from ethical behavior in business?

    <p>Professionalism pertains to effective performance, while ethical behavior relates to trust maintenance. (C)</p> Signup and view all the answers

    Which investment offers a low-risk savings option with slightly higher returns than a regular savings account but less liquidity?

    <p>Venture Capital (B)</p> Signup and view all the answers

    What is a key aspect of fostering ethical and professional environments in organizations?

    <p>Encouraging transparent communication and accountability measures. (A)</p> Signup and view all the answers

    What characteristic distinguishes debentures as investment securities?

    <p>Limited liquidity (C)</p> Signup and view all the answers

    How do unethical business practices differ from unprofessional business practices?

    <p>Unethical practices violate moral principles, while unprofessional practices breach industry regulations. (A)</p> Signup and view all the answers

    What is the primary relationship between ethical and professional behavior in business according to the text?

    <p>Professional behavior is the foundation for ethical actions. (D)</p> Signup and view all the answers

    Which type of investment involves investing in startups or expanding businesses with high risk and the potential for substantial returns?

    <p>Government Retail Bonds (C)</p> Signup and view all the answers

    What is a common challenge businesses face in maintaining ethical and professional standards?

    <p>Dynamic and competitive markets. (B)</p> Signup and view all the answers

    How does the relationship between risk and return impact investment decisions?

    <p>Higher risk leads to fixed returns. (C)</p> Signup and view all the answers

    What is a fundamental factor that affects the overall viability and attractiveness of investment opportunities?

    <p>Inflation rate (D)</p> Signup and view all the answers

    How do businesses address challenges related to maintaining ethical and professional standards?

    <p>By engaging stakeholders in discussions about ethical practices. (A)</p> Signup and view all the answers

    What is the significance of 'Leadership by Example' in fostering ethical and professional environments?

    <p>It sets a standard for all employees to follow. (D)</p> Signup and view all the answers

    In terms of investment returns, what do government retail bonds offer to individual investors?

    <p>Variable returns based on market performance (A)</p> Signup and view all the answers

    'Mutual Funds/Stokvels' are susceptible to which risks?

    <p>Interest rate risk (A)</p> Signup and view all the answers

    'Adherence to industry-specific codes of conduct' is an example of what type of behavior?

    <p>'Ethical Behavior' (B)</p> Signup and view all the answers

    Which process involves analyzing and resolving issues through a structured sequence of steps?

    <p>Problem-Solving (D)</p> Signup and view all the answers

    What is the primary difference between problem-solving and decision-making?

    <p>Problem-solving is about identifying and resolving issues, while decision-making is about choosing between solutions. (D)</p> Signup and view all the answers

    Which technique requires iterative rounds of questionnaires to reach a consensus?

    <p>Delphi Technique (B)</p> Signup and view all the answers

    What is crucial for businesses when applying problem-solving techniques to tackle complex challenges?

    <p>Selecting methods that best fit the problem's nature and organizational culture (A)</p> Signup and view all the answers

    Which benefit is associated with fostering creative thinking in the workplace?

    <p>Enhancing team collaboration (D)</p> Signup and view all the answers

    Which step in the problem-solving process requires executing the chosen solution effectively?

    <p>Implementing the Solution (A)</p> Signup and view all the answers

    What does 'Encourage Open Communication' aim to achieve in fostering creativity?

    <p>Encouraging sharing of ideas in a safe environment (B)</p> Signup and view all the answers

    'Provide Resources and Time' in fostering creativity involves allocating resources and dedicated time for employees to ___?

    <p>Explore creative solutions (D)</p> Signup and view all the answers

    What type of investment scheme allows investors to pool their money into a single fund managed by professionals?

    <p>Unit Trusts (A)</p> Signup and view all the answers

    Which financial marketplace offers a platform for trading securities like stocks and bonds?

    <p>Johannesburg Securities Exchange (JSE) (A)</p> Signup and view all the answers

    What is a distinctive feature of ordinary, preference, bonus, and founders' shares in businesses?

    <p>Voting rights (C)</p> Signup and view all the answers

    Which type of financial opportunity provides individuals with the chance to own a share of businesses?

    <p>Securities trading (B)</p> Signup and view all the answers

    What role does the Johannesburg Securities Exchange (JSE) play in the financial market?

    <p>Facilitating securities trading (D)</p> Signup and view all the answers

    In the context of investments, what is the primary function of business investments through purchasing shares?

    <p>Direct ownership stake (D)</p> Signup and view all the answers

    What is the primary function of insurance for businesses?

    <p>Protecting against potential losses from unforeseen circumstances (B)</p> Signup and view all the answers

    Why is understanding the relationship between risk and return crucial for making investment decisions?

    <p>To identify opportunities with the right balance between risk and potential returns (C)</p> Signup and view all the answers

    What distinguishes 32-Day Notice Accounts from regular savings accounts?

    <p>Lower risk (D)</p> Signup and view all the answers

    Why are managed portfolios considered beneficial for investors?

    <p>Professional management leading to lower risk through diversification (C)</p> Signup and view all the answers

    What makes debentures attractive as investment securities?

    <p>Fixed interest and low risk (A)</p> Signup and view all the answers

    Why is risk tolerance an important consideration for individuals making investment decisions?

    <p>To match investments with personal comfort levels regarding risk exposure (D)</p> Signup and view all the answers

    What distinguishes problem-solving from decision-making?

    <p>The selection of the best solution based on evaluation in problem-solving. (A)</p> Signup and view all the answers

    Which technique encourages the generation of creative ideas in a group setting to solve problems?

    <p>Brainstorming (A)</p> Signup and view all the answers

    What step involves recognizing and defining the issue clearly in the problem-solving process?

    <p>Define the Problem (B)</p> Signup and view all the answers

    Why is creative thinking crucial for businesses according to the text?

    <p>To adapt to change and maintain a competitive edge. (C)</p> Signup and view all the answers

    Which technique utilizes iterative rounds of questionnaires to reach a consensus?

    <p>Delphi Technique (D)</p> Signup and view all the answers

    What is the primary purpose of Force Field Analysis in problem-solving?

    <p>To evaluate driving and restraining forces for change initiatives. (D)</p> Signup and view all the answers

    Which step in problem-solving involves assessing the feasibility and potential impact of each solution?

    <p>Evaluate Alternatives (D)</p> Signup and view all the answers

    What is a key element for successful team performance according to the text?

    <p>Regular progress reviews (C)</p> Signup and view all the answers

    Which conflict resolution model is mentioned in the text for addressing team conflicts effectively?

    <p>Thomas-Kilnmann model (C)</p> Signup and view all the answers

    What is a recommended strategy for dealing with difficult personalities in a team setting according to the text?

    <p>Ignoring the individual (B)</p> Signup and view all the answers

    What does self-assessment and team performance assessment primarily aim to achieve within a team setting?

    <p>Identifying behavioral strengths and weaknesses (D)</p> Signup and view all the answers

    What is an essential characteristic of successful teams as outlined in the text?

    <p>Positive interpersonal relationships (D)</p> Signup and view all the answers

    Which type of personality mentioned in the text can be challenging due to their tendency to resist change and doubt decisions?

    <p>Indecisive personality (D)</p> Signup and view all the answers

    In conflict management, what correct procedure is highlighted in the text for addressing grievances effectively?

    <p>Addressing grievances in a timely manner (B)</p> Signup and view all the answers

    What is the main purpose of establishing clear boundaries in self-assessment and team performance assessment mentioned in the text?

    <p>Avoiding role and work overload (A)</p> Signup and view all the answers

    Which of the following is a common challenge associated with diverse personalities in a team setting as discussed in the text?

    <p>Maintaining team cohesion (C)</p> Signup and view all the answers

    What characteristic distinguishes debentures as investment securities according to the text?

    <p>A fixed rate of interest (C)</p> Signup and view all the answers

    What is the primary purpose of ethical behavior in the business context?

    <p>Building trust with stakeholders (D)</p> Signup and view all the answers

    Which unethical business practice involves providing false information about a product?

    <p>Misleading advertising (D)</p> Signup and view all the answers

    What is a key attribute of professional behavior in business?

    <p>Respectful interaction with stakeholders (D)</p> Signup and view all the answers

    Which strategy can organizations use to promote ethical and professional environments?

    <p>Establishing accountability measures (B)</p> Signup and view all the answers

    What distinguishes ethical behavior from professional behavior in the business context?

    <p>Honesty in advertising (B)</p> Signup and view all the answers

    Which challenge do businesses face in maintaining ethical and professional standards?

    <p>Regular review of ethical codes (D)</p> Signup and view all the answers

    How can organizations foster ethical and professional environments?

    <p>Encouraging transparency in operations (A)</p> Signup and view all the answers

    What is the fundamental relationship between ethical and professional behavior in business?

    <p>Ethical behavior forms the foundation for professional conduct (B)</p> Signup and view all the answers

    What is the primary purpose of compulsory insurance for businesses and individuals?

    <p>To meet the minimum level of protection required by law (D)</p> Signup and view all the answers

    How does indemnity principle influence insurance policies?

    <p>It ensures the insured is compensated to the exact loss amount (A)</p> Signup and view all the answers

    What does insurable interest in insurance policies refer to?

    <p>Interest in suffering a financial loss if the event occurs (C)</p> Signup and view all the answers

    What is the purpose of the 'Average Clause' in insurance policies?

    <p>To calculate compensation for under-insured assets (C)</p> Signup and view all the answers

    How does over-insurance differ from under-insurance in insurance policies?

    <p>Over-insurance involves exceeding the value of the insured item, while under-insurance involves insufficient coverage (B)</p> Signup and view all the answers

    What distinguishes property insurance from liability insurance?

    <p>Property insurance protects against asset loss, while liability insurance protects against claims (C)</p> Signup and view all the answers

    'Utmost Good Faith (Uberrima Fides)' requires both parties in an insurance contract to ___.

    <p>Act honestly and disclose all material facts (A)</p> Signup and view all the answers

    'Reinstatement Value' in insurance policies involves ___.

    <p>Replacing damaged property instead of cash payouts in cases of over-insurance (A)</p> Signup and view all the answers

    'Product Liability Insurance' primarily covers ___.

    <p>Legal and court costs relating to bodily harm caused by defective products (D)</p> Signup and view all the answers

    What does compulsory insurance being mandated by law mean?

    <p>The policyholder is legally obligated to have insurance as specified by regulations. (B)</p> Signup and view all the answers

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