GST 105 CBT Practice Questions for FUOYE Students(Now Active)

📘 GST 105 PRACTICE TEST – IMPORTANT INSTRUCTIONS

Take your time to read the instructions carefully before starting this test.

📝 Test Details

Total Questions: 40

Time Allowed: 20 minutes

This gives you very few seconds per question, so manage your time wisely.

✅ If you can score at least 60%, you can be rest assured that you’ll ace GST 105 in the real exam.

PS:

In the actual GST exam, you’ll likely be asked between 40 – 60 questions.

⚠️ EXAM STRATEGY & TIPS

Do not rush into answering questions.
Don’t waste too much time on questions you don’t know — skip and move on.
Start with questions that don’t involve calculations to save time.
Always crosscheck your answers.
Don’t be in a hurry to submit — you’re not in a competition.
Don’t be scared — getting an A is very achievable.
Don’t be overconfident either — calm your blood, no be only you sabi book 😌.
If you have any complaints, corrections, or feedback, please use the comment box.

📊 GRADING SCALE

70 – 100 → A

60 – 69 → B

50 – 59 → C

45 – 49 → D

40 – 44 → E

0 – 39 → F

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Pos.	Name	Score	Duration
1	Favour@2000	90 %	5 minutes 29 seconds
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4	AKANNI DANIEL	83 %	4 minutes 59 seconds
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7	Medforge	80 %	6 minutes 24 seconds
8	Testimony	78 %	5 minutes 59 seconds
9	ROLLA28@08.	78 %	8 minutes 42 seconds
10	Ademide	73 %	9 minutes 35 seconds

447

GST 105

1 / 40

1. Environment can also be referred to as _____.

A. Objects

B. Inferences

C. Surroundings

D. Ideas

2 / 40

2. Choose a major mistake young entrepreneurs should avoid:

A. Ability to source for Capital

B. Ability to Loan others

C. Risk of Uncertainties

D. All the options

3 / 40

3. Holt (1992) identified idea generation as the first stage of _____.

A. Planning

B. Creative process

C. Innovation

D. Creativity

4 / 40

4. Searching for change and exploiting opportunity was emphasized by _____

A. Peter Drucker

B. Say

C. Cole

D. Alfred Marshall

5 / 40

5. Determine the truth of the statement: a feasibility study is a technical document:

A. False

B. True

6 / 40

6. Under-pricing is regarded as one of the mistakes of _____.

A. Large corporations

B. Government firms

C. Multinationals

D. Business beginners

7 / 40

7. Political/legal environment consists of _____.

A. Culture

B. Technology

C. Regulations and laws

D. Customs

8 / 40

8. State whether any individual can start a business:

A. Maybe

B. All the options

C. No

D. Yes

9 / 40

9. Viewing threats as opportunities describes a _____ environment.

A. Multifaceted

B. Stable

C. Simple

D. Potent

10 / 40

10. Pick the interpersonal skill that is NOT required for entrepreneur success

A. Should have the right mindset with great integrity

B. They should give loan to help others

C. Must be a good listener

D. They should be able to lead and motivate others

11 / 40

11. Name the process of creating and running one’s business:

A. Globalization

B. None of the options

C. Partnership

D. Entrepreneurship

12 / 40

12. Define the term entrepreneur:

A. Any Individual having capability to initiate and successfully run an enterprise

B. An Individual that makes profit

C. Someone who promote business

D. A person who established business

13 / 40

13. Pick the option that does NOT describe a characteristic of an entrepreneur:

A. Self Oriented

B. Originality

C. Risk taker

D. Family orientation

14 / 40

14. Name the term for a new idea, device, or process:

A. Summarization

B. Globalization

C. Innovation

D. Memorization

15 / 40

15. Innovation and power concepts were introduced by _____.

A. Kirzner

B. Knight

C. Max Weber

D. Joseph A. Schumpeter

16 / 40

16. Provide the full meaning of the abbreviation SMEs:

A. Small to minimum Entrepreneurs

B. Small – medium – enterprises

C. Small to medium enterprise

D. Small – minimum – Entrepreneur

17 / 40

17. Buying companies with problems but profit potential describes a _____.

A. Legal depositor

B. Rich businessman

C. Copreneur

D. Turn-around artist

18 / 40

18. An individual that builds a large company through delegation is a _____.

A. Solicitor

B. Inventor-researcher

C. Successful intrapreneur

D. Workforce builder

19 / 40

19. Identify the option that is NOT a major type of entrepreneur:

A. Speculator

B. Soloist

C. Kept partner

D. Loan manager

20 / 40

20. Merriam-Webster (1972) defined an entrepreneur as one who organizes and manages a business for _____.

A. Innovation

B. Employment

C. Social service

D. Profit

21 / 40

21. Socio-cultural environment recognizes _____.

A. Technology

B. Population

C. Government

D. Customs and traditions

22 / 40

22. Determine the truth of the statement regarding marketing research linking the consumer to the marketer

A. Loan taking

B. Trading Establishment

C. Venture

D. Business risk taking

23 / 40

23. Select the option that is NOT a function of a feasibility report:

Table of Contents

A. It’s an aid of promoting innovations

B. It gives an evaluation of new business venture D. It provides the basis

C. It’s an aid in business planning

D. It provides the basis for a banker or supplier

24 / 40

24. Entrepreneurship was defined as purposeful activity by _____.

A. Say

B. Alfred Marshall

C. Cole

D. Peter Drucker

25 / 40

25. Meredith et al defined an entrepreneur as one who gathers resources to ensure _____.

A. Success

B. Control

C. Stability

D. Expansion

26 / 40

26. Identify the individual and the year the concept of entrepreneur was first applied to business:

A. Nwafor, 2014

B. Owoeye, 1855

C. Jean Baptiste, 1877

D. Richard Cantillion, 1755

27 / 40

27. Select the trait that does NOT belong to an entrepreneur:

A. Ability to render loans

B. Foresight, Perceptive

C. Ability to set goals

D. Persistence Confidence

28 / 40

28. The concept of creative and imaginative thought was introduced by _____.

A. Peter Drucker

B. Shackle

C. Schumpeter

D. Max Weber

29 / 40

29. Identify the person and year associated with defining globalization as the process of creating networks of connection:

A. Clark, 2000

B. Nwafor, 2000

C. Owoeye, 1984

D. Richard, 1999

30 / 40

30. Determine the truth of the statement regarding marketing research linking the consumer to the marketer

A. False

B. True

31 / 40

31. Define the well-established habit of doing something expertly:

A. Skill

B. Talent

C. Learning

D. Profession

32 / 40

32. Everett Hagen viewed an entrepreneur as a _____.

A. Profit seeker

B. Reactive problem solver

C. Business manager

D. Risk bearer

33 / 40

33. Idea generation is not regarded as a form of _____.

A. Product-market innovation

B. Administrative innovation

C. Technological innovation

D. Innovation

34 / 40

34. The scholar that defined an entrepreneur as one who coordinates scarce resources is _____.

A. Meredith et al

B. Cole

C. Carson

D. Everett Hagen

35 / 40

35. According to Jim Rohn, an enterprising person sees the making of a sculpture from _____.

A. Waste papers

B. Scrap metals

C. Old wood

D. Broken glasses

36 / 40

36. An entrepreneur that earns capital gain from large assets is a _____.

A. Thinker

B. Speculator

C. Innovator

D. Capitalist

37 / 40

37. State the full meaning of the acronym NLBD:

A. Nigerian Local Development Board

B. National local developer board

C. Nigeria Location of Development Board

D. National Local and development Board

38 / 40

38. According to Knight, an entrepreneur is a _____.

A. Risk taker

B. Financier

C. Manager

D. Business owner

39 / 40

39. Select the item that is NOT a component of a feasibility study

A. The project Scope

B. The Current Analysis

C. Evaluation

D. Innovative

40 / 40

40. NLDB stands for Nigeria Local Development Board formed in _____.

A. 1945

B. 1940

C. 1950

D. 1946

Your score is

GST 105 CBT Practice Questions for FUOYE Students(Now Active)

📘 GST 105 PRACTICE TEST – IMPORTANT INSTRUCTIONS

📝 Test Details

⚠️ EXAM STRATEGY & TIPS

📊 GRADING SCALE

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