1. The concept of value within tourism is to

(A) provide good quality and more offers

(B) develop company systems and process

(C) help companies find ways to optimise the delivery of value

(D) provide more information on tourist product

Answer: (C)

2. The concept of marketing was evolved

(A) after the production approach

(B) after the economy Philosophy

(C) prior to the sales approach

(D) through the production, sales and then the marketing approach

Answer: (D)

3. Cognitive dissonance is caused

(A) during information research

(B) during purchase

(C) by post purchase conflict

(D) by pre-purchase conflict

Answer: (C)

4. Business philosophies can be identified within tourism sector as

(i) Product oriented company

(ii) Technology oriented company

(iii) Market oriented company

(iv) Sales oriented company

The candidate has to find the correct answer according to the code:

Codes:

(A) (i), (ii) and (iii) are correct.

(B) (i) and (ii) are correct.

(C) (ii) and (iii) are correct.

(D) (i) and (iv) are correct.

Answer: (A)

5. Initiator is the person

(A) who has the financial authority within the group of people to make the purchase.

(B) who actually visits the travel agent and makes the purchase of the travel package.

(C) who actually goes on trip.

(D) who gathers information and starts the purchasing process.

Answer: (D)

6. Tourists who tend to search for authentic experience can be termed as

(A) Drifters

(B) Explorers

(C) Individual mass tourists

(D) Organised mass tourists

Answer: (B)

7. Which one of the following combination is the correct order of Doxey’s Irridex Index Model?

(A) Indifferent – Annoyance – Euphoric – Antagonistic

(B) Antagonistic – Indifferent – Annoyance – Euphoric

(C) Euphoric – Indifferent – Annoyance – Antagonistic

(D) Annoyance – Antagonistic – Indifferent – Euphoric

Answer: (C)

8. Which fundamental issue motivated F.W. Taylor to create a more scientific approach to management?

(A) Work effectiveness

(B) Work place safety

(C) Work efficiency

(D) Worker absenteeism and turnover

Answer: (C)

9. A positive Net Present Value (NPV) means

(i) The project earns rate of return higher than the firm’s cost of capital.

(ii) The project’s rate of return is equal to the firm’s cost of capital.

(iii) The firm’s cost of capital is more than the project’s rate of return.

(iv) The firm’s cost of capital is equal to annual revenue from project.

The candidate has to find the correct answer using the code:

Codes:

(A) (i), (ii) and (iii) are correct.

(B) (i) and (ii) are correct.

(C) (i) and (iii) are correct.

(D) (i) is correct.

Answer: (D)

10. Which of the following belongs to BOTH money and capital market?

(A) Treasury bills

(B) Commercial banks

(C) Stock Market

(D) Derivative market

Answer: (B)