1. Which of the following is an online Q&A video platform available for Entrepreneurs?
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Correct Answer:
Foundation
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2. What is the name for an initial time period during which employee stock options are not vested called?
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Correct Answer:
cliff
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3. Developing a new idea by thinking without constraints is?
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Correct Answer:
Big-Dream Approach
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4. What's a "full ratchet"?
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Correct Answer:
A deal term used by investors to prevent dilution
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5. Which of the following is NOT a benefit of registering a trademark?
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Correct Answer:
Retain the moral rights (control of modification)
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6. For high-growth ventures, which series of funding is typically used for sales acceleration and marketing over initial product development?
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Correct Answer:
Series B funding and beyond
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7. What type of branding is considered the default "brand architecture" and is used by most entrepreneurs?
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Correct Answer:
Corporate branding
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8. What legal entity is the most Venture Capital friendly?
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Correct Answer:
C-Corp
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9. According to Dave McClure of 500 Start-ups, what three people does every tech start-up need?
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Correct Answer:
Hustlers, Hackers, Designers
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10. What is another word/term for using feedback from users to improve your product/service?
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Correct Answer:
Customer Development
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11. The challenge of "crossing the chasm" refers to reaching which group of customers?
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Correct Answer:
Early majority
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12. What is the maximum number of shareholders an S corporation may have?
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Correct Answer:
100
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13. What is a "discount rate" on a convertible note?
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Correct Answer:
A risk premium of additional equity for earlier investors.
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14. What does "MVP" stand for in Lean Startup methodology?
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Correct Answer:
Minimum Viable Product
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15. How is the post-money valuation of a company determined?
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Correct Answer:
Pre-money valuation plus the invested funds
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16. Sole proprietorships and LLC's are similar in that they:
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Correct Answer:
allow for pass-through taxation
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17. What does it mean to be oversubscribed?
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Correct Answer:
More investors want to invest than you have room for in your round
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18. An Entrepreneur is a person who
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Correct Answer:
Takes a risk to found a company in pursuit of profit
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19. Which of the following is NOT a recognized entrepreneurial influencing skill?
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Correct Answer:
Criticism and punishment
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20. What is an Incubator?
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Correct Answer:
Provides workspace, coaching, and support to entrepreneurs & early-stage company's.
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21. What is a sole proprietorship?
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Correct Answer:
A business owned and operated by one person.
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22. What does the term "priced round" mean?
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Correct Answer:
An equity financing in which the company and investors agree on a pre-money valuation
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23. How many owners may an LLC have?
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Correct Answer:
Unlimited
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24. What is a seed round?
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Correct Answer:
First investment round that 'seeds' the company's financials.
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25. What's the classic 80/20 rule (the Pareto principle) with regards to marketing?
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Correct Answer:
80% of your profit comes from 20% of your customers.
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26. An entrepreneur who continually comes up with new ideas and starts new companies is considered a:
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Correct Answer:
Serial entrepreneur
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27. What is "sweat equity"?
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Correct Answer:
A party's contribution to a project in the form of effort - as opposed to financial equity
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28. What is Due Dilligence?
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Correct Answer:
Process of vetting a business's financial information, team, and other important information that may influence the outcome of an investment.
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29. Which of the following isn't part of the traditional Marketing Mix?
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Correct Answer:
Partners
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30. What does "ramen profitable" mean for a startup?
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Correct Answer:
Makes just enough to pay the founders' living expenses
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31. If you get $10,000 for 10% of your company, your company valuation is...
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Correct Answer:
100,000
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32. What is one of the differences between a trademark and a patent?
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Correct Answer:
Trademarks, unlike patents, can be renewed forever as long as they are being used in business.
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33. Entrepreneurs who operate a self-financed startup without external fundraising are said to be?
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Correct Answer:
Bootstrapping
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34. What is a convertible note?
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Correct Answer:
A debt financing in which the debt converts to equity at a future equity financing
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35. Sequoia is a(n):
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Correct Answer:
Venture Capitalist group
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36. What does the legal acronym DBA traditionally stand for?
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Correct Answer:
Doing Business As
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37. What's the "DA" stand for in EBITDA?
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Correct Answer:
Depreciation and Amortization
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38. What's CoCA?
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Correct Answer:
Cost of Customer Acquisition
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39. What is a split test?
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Correct Answer:
Testing a variety of single-variable samples against one another in order to improve response rates
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40. What is the Valley of Death in regards to fundraising?
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Correct Answer:
time between first investment and first profits
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41. What is attrition?
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Correct Answer:
A reduction or decrease in numbers, size, or strength of a start up company.
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42. True or False: In a limited partnership the day-to-day operations are controlled by general partners and funded by limited or silent partners who are legally responsible for losses based on the amount of their investment.
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Correct Answer:
True
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43. Which company did Larry Page co-found?
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Correct Answer:
Google, Inc.
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44. What does it mean to "syndicate" an investment?
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Correct Answer:
To have multiple companies or groups participate in a single investment round and share diligence findings.
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45. Which of the following involves the least outside capital coming into the company?
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Correct Answer:
Bootstrap
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46. What are the "Three F's" of early-stage financing?
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Correct Answer:
Friends, Family, and Fools
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47. For a company that runs a free web app, which of these metrics would be described as a vanity metric?
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Correct Answer:
Total registered users
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48. The idea "fail fast, fail often" refers to?
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Correct Answer:
Lean startup philosophy
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49. What is "deal fatigue"?
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Correct Answer:
The negative signaling effect of trying to raise money for a very long time.
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50. Which type of venture exit typically has the largest payoff for founders and investors?
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Correct Answer:
IPO
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51. What is the primary difference between angels and venture capitalists?
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Correct Answer:
Angels invest their own funds, venture capitalists invest others funds
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52. What is an Exit Strategy?
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Correct Answer:
The method by which a venture capitalist or business owner intends to get out of an investment that he or she has made in the past.
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