CSC TEC Exam Questions and Answers Key 2022 with PDF Download

 Hello guys! If you are searching for CSC TEc Exam questions and answers then you are in the right place. Here we provide all the answers keys of the TEC Exam along with a Pdf for you. As government makes mandatory of TEC certificates many users are now to get the TEC certificate. To get the TEC certificate you first to give a test and if you get qualified in the test you will get the certificate.

How to Get TEC Certificate?

If you want to get TEC Certificate then you have to follow some steps. These steps are given below. follow the steps to get TEC Certificate.

Steps	Follow
1	First You have to register for the CSC - Click to Register
2	Fill up your details to get registered.
3	Submit Registration Fee (1479)
4	Your User Id and Password will be generated.
5	Qualify in 10 assessments and Final Examination to get a Certificate.

TEC (Telecenter Entrepreneur Cours) Final Exam Details

• Total No of Questions in TEC Final Exam - 50
• Type of Questions - Multiple
• Passing Mark - 50%
• Negative Marking - No
• Time of Exam - 10 AM to 5 PM (Monday to Saturday)

TEC Exam Questions and Answers Key 2022

The CSC conducts the TEC exam in a total of 10 modules and each module contains 10 marks. Here we will provide the TEC exam questions and answers module-wise so that it will be easy for you to give the test. The 10 modules of the TEC exam are given below.

1. Entrepreneurship
2. Entrepreneurship and Entrepreneurial Character
3. Identifying Business Opportunities
4. Understanding Cost Structure
5. Long Term Orientation
6. Recording Business Transactions
7. Basic Financial Terms
8. Accounting and Business Reporting
9. Marketing Education-Handling Questions & Concerns
10. Marketing Education Value

So let's start all the questions and answers of the TEC  Assessment exam modules.

#1. Entrepreneurship Questions and Answers to the TEC Exam

1. An Entrepreneur is one who is involved in a few of these activities - Managing, organizing, innovating, assuming risks, etc?

1. True
2. False

2. An Entrepreneur does the following activities - managing, organizing, and makes all the decisions by himself?

1. True
2. False

3. An Entrepreneur is a person who takes less risks, avoids experimentation?

1. True 
2. False

4. A successful entrepreneur can become rich very fast?

1. True
2. False

5. All People who start up a business based on a new idea are always successful?

1. True
2. False

6. 92% of the startups are successful within the first 3 years of starting?

1. True
2. False

7. Starting up a new venture with a new idea is called entrepreneurship?

1. True
2. False

8. Entrepreneurship is an opportunity to create wealth?

1. True
2. False

9. Which of these is an example of entrepreneurship?

1. Starting up a business based on old ideas, existing business modules, and less risk.
2. Teaching in an IIT/MBBS coaching Institute.
3. Starting up a business based on new app/software, with high risk.
4. None of the Above

10. Which of these is an example of entrepreneurship?

1. Starting up a new type of restaurant in a city.
2. Working in a call center/BPO
3. Teaching mathematics in a coaching center
4. Managing and completing tasks given by the boss in a company.

#2. Entrepreneurship and Entrepreneurial Character

1. Entrepreneurs need to have ____ to be successful?

1. Patience
2. Patient
3. Money
4. Luck

2. ______ is the specific tool of entrepreneurship?

1. Creation
2. Renovation
3. Innovation
4. Experimentation

3. Entrepreneurs need members in physical communities where ideas can be shared and shaped?

1. True.
2. False

4. How to inspire and create entrepreneurial leaders within the organizations?

1. Develop entrepreneurial ecosystem inside organizations to promote entrepreneurial activity as a mainstream, strategic activity
2. Promote employees often
3. Both are Correct
4. None of them are Correct

5. Organizations are not entrepreneurial but people are entrepreneurial?

1. True
2. False

6. Entreprenuering farmed as international iterations create?

1. A Mindset that is Prepared
2. Expects Multiple Challenge
3. Both are Correct
4. None are Correct

7. Does entrepreneurship involve _____?

1. Managing responsibilities
2. Organizing tasks
3. Evaluating risks in the new venture
4. All of the Above

8. Entrepreneurship involves organizing, managing, and assuming the risks pertaining to your enterprise, etc. And an entrepreneur is one who is involved in all of these?

1. True
2. False

9. Building a business takes ______ time than it takes to generate the idea for the business?

1. Shorter
2. Same
3. Longer
4. Can't Say

10. Entrepreneurs should not be greedy to grow big, as this needs patience as well?

1. True
2. False

#3. Identifying Business Opportunities

1. Successful entrepreneurship requires the ability to balance technical knowledge and market knowledge?

1. True
2. False

2. An electrician observed that grocery stores in his area are running successfully and wanted to open one too. He opened one but was not able to make any profit. Why?

1. The electrician didn't have any technical knowledge about how to run a grocery store.
2. The electrician didn't realize that they were already three successful grocery stores in his area and there was no need for another one in his area.
3. Both are Correct
4. Neither is Correct

3. Cashflow simply put is the difference between the cash that flows in and the cash that flows out?

1. True
2. False

4. Upfront capital and R&D requirement cost should be high while evaluating whether an idea is an opportunity or not?

1. True 
2. False.

5. The market should be large and growing while evaluating whether an idea is an opportunity or not?

1. True
2. False

6. The venture/business should be high strategic value to a potential acquirer?

1. True
2. False

7. An idea is defined as the content of cognition?

1. True
2. False

8. Is every idea a possible opportunity?

1. True
2. false

9. How to identify an idea is an opportunity or not?

1. An idea needs to be valuable
2. An idea needs to fulfill the need of a customer
3. Both are Correct
4. Neither is Correct

10. Why do we need to evaluate an idea?

1. To know whether customers will buy the end product of an idea.
2. To know whether an entrepreneur will make profits out of an idea
3. To know whether an entrepreneur will make a valuable product out of an idea
4. All of the Above

#4. Understanding Cost Structure

1. _____ is the cost of any material directly used in the production of output?

1. Expired Cost
2. Product Cost
3. Direct Material Cost
4. Unexpired Cost

2. ______ cost includes salaries, bonuses, insurance, pensions, benefits, earned leave paid to the individual involved?

1. Surplus
2. Direct Material Cost
3. Direct Labour Cost
4. Unexpired Cost

3. Cost allocation is a method through a business allocates or distributes an indirect cost across various cost objects?

1. True
2. False

4. The cost vary with the output levels are called variable costs?

1. Product Cost
2. Direct Material Cost
3. Variable Cost
4. Fixed Cost

5. ______ costs are those that have been completely consumed or the benefits from which have been received by the business?

1. Expired Cost
2. Unexpired Cost

3. Direct Cost
4. Indirect Cost

6. ______ is the monetary value of resources like materials, labour, overheads, used in the making of a product or delivery a service?

1. Inputs 
2. Receivables
3. Inventories
4. Cost

7. Direct and Indirect costs are based their association with different cost objects?

1. True
2. False

8. Cost that don't vary in the short term, regardless in changes of output levels, is called _____ cost?

1. Direct Cost
2. Indirect Cost
3. Fixed Cost
4. Unexpired Cost

9. Retail companies like Reliance Fresh, D Mart, Big Baazar have _____to a ____ degree of conversion?

1. Low to Medium
2. Medium to High
3. Low to High
4. High to Medium

10. _______ is the key determinants of the cost of goods sold(COGS), which appears on the P&L statement?

1. Indirect Cost 
2. Fixed Cost
3. Expired Cost
4. Product Cost

#5. Long Term Orientation

1. _____ is the ability to evaluate, assimilate, and exploit knowledge?

1. Additive Capacity
2. Assimilative Capacity
3. Absorptive Capacity 
4. Attritive Capacitive

2. Absorptive Capacity comes from prior, related knowledge to be able to make sense of recognizing the value of, and use new information?

1. True
2. False

3. Why it is important to have prior knowledge or relatable expertise to become a successful entrepreneur?

1. Prior knowledge contributes to expectation formation
2. Helps to make decisions like whether to invest in the idea or not
3. Prior knowledge doesn't help much, it is not required to become a successful entrepreneur
4. Both A and B

4. A successful tailor wanted to try something new. So, he opened a street food restaurant in his area. But his restaurant didn't run properly and eventually, he had to close it down. Why? Please select the best option.

1. He was not a risk-taker
2. He was not a goal-oriented
3. He didn't have prior knowledge on how to run a restaurant
4. None of the Above

5. A knowledgeable cook opened a south Indian restaurant in Chennai. But the business was not running smoothly and later he had to close it. What went wrong?

1. He didn't have technical knowledge
2. There were too many competitors and he was not creative in the menu to attract customers

3. Both A & B
4. Nither is Correct

6. What are the characteristics or traits of a successful entrepreneur. Select the best option?

1. Risk-Taker
2. Goal-Oriented
3. Thrive on Uncertainty
4. All of the Above

7. What is not a characteristic/trait of a successful entrepreneur?

1. Good Communication Skills 
2. To have strong technical knowledge
3. Quits halfway when the situation becomes difficult
4. Solve a problem with a unique and creative solution

8. Entrepreneurs are always looking for new ways of doing things and how they can make them better. Which trait is being discussed here?

1. Optemestic Nature
2. Consistency
3. Creativity
4. Commitment

9. Entrepreneurs effectively sell their products or service to clients and customers. Which trait is being discussed here?

1. Optemestic Nature
2. Goal Oriented
3. Communication Skills
4. Creativity

10. Entrepreneurs don't let uncertainty and potential failure stop them from doing what needs to be done. Which trait is being discussed here?

1. Communication Skills 
2. Strong Technical Knowledge
3. Creativity 
4. Risk-Taker

#6. Recording Business Traansactions

1. A business can't survive for a long without ____?

1. Manpower
2. Cash
3. Infrastructure
4. None

2. Geeta has a grocery shop. the customers have already paid Rs 5000 to her. Geeta decided to pay her supplier Rs 2000 at the end of the week. According to accrual basic calculate her profit?

1. 0
2. 3000
3. 300
4. 5000

3. Accountants worldwide use the triple entry system to record transactions?

1. True
2. False

4. Transactions are entered into the general journal in chronological order?

1. True
2. False

5. _______ is a record of all businesses' existing assets, liabilities, and equity?

1. Profit and Loss Statement
2. Statement of Cash Flow

3. Balance Sheet
4. General Journal

6. What are the three financial sheets that are used to record and report a business?

1. Balance Sheet, General Journal, and Profit and Loss Statement
2. Balance Sheet, Statement of Cash Flow, and Ledger Account
3. Statement of Cash Flow, General Journal, and ledger Account
4. Statement of Cash Flow, Balance Sheet, and Profit and Loss Statement

7. Balance Sheet is a record of all of a Business' revenues and costs over a certain period of time, typically every quarter or every year?

1. True
2. False

8. Equity and liabilities come first in a balance sheet, followed by assets?

1. True
2. False

9. Select the Correct Equation?

1. Total Assets = Total Liabilities + Equity
2. Total Liabilities = Total Assets + Equity
3. Total Equity = Total Assets + Total Liabilities
4. Total Equity = Total Liabilities + Total Assets 

#7. Basic Financial Terms

1. What is a Sole proprietorship?

1. A Single Owner who is also usually responsible for the day-to-day running of the business
2. A Single Employee who is also usually responsible for the day-to-day running of the business
3. A Single Retailer who is also usually responsible for the day-to-day- running of thr business
4. A Single Partner who is also usually responsible for the day-to-day running of the business

2. ________ has multiple owners or partners, some of whom are also usually responsible for the day-to-day running of the business?

1. Friendship
2. Presidentship
3. Partnership
4. Corporations

3. What is a Corporation?

1. A Separate legal entity with a large number of owners
2. A Separate ilegal entity with a large number of owners
3. Multiple owners or partners, Some of whom are also responsible for the day-to-day running of the business
4. All of the Above

4. Identify a non-example of accounting?

1. How much value in rupees of goods or services has the business sold
2. List of investments in land, facilities, buildings, etc. the business made
3. Costs the business incurred
4. List and details of Favourite customers.

5. _______ is about planning for the uncertain future and deciding what kind of investment should the business make?

1. Finance
2. Governance

3. Maintainance
4. Dominance

6. ______ is a way for a business to raise capital but there is no obligation to repay entities that provide capital. Instead, entities are given ownership of the business?

1. Liabilities
2. Equity
3. Partnerships
4. Asset

7. What is the primary objective of a business?

1. Make money for investors by providing goods and services.
2. Make money for retailers by providing goods and services
3. Make money for customers by providing goods and services
4. Make money for employees by providing goods and services

8. What are the key inputs of business?

1. Labour 
2. Land
3. Capital
4. All of the Above

9. What is the output of the business?

1. Goods
2. Services
3. Both of the Above
4. Neither is correct

10. What are the different forms of business?

1. Sole Proprietorship, Friendships, Corporations
2. Sole Proprietorship, Partnership, Corporations
3. Sole Proprietorship, Partnership, Commemoration
4. Sole Presidentship, Partnership, Commemoration

#8. Accounting and Business Reporting

1. _____ are those assets that are expected to be sold or converted into cash or consumed within one year?

1. Current Assets
2. Current Liabilities
3. Non-Current Assets
4. Non-Current Liabilities

2. Non-Current Assets include ______, which typically last for more than one year?

1. Plant, Property, and Establishment
2. Plant, Property, and Equipment
3. Penchant, Property, and Equipment
4. Plant, Property, and Experiment

3. What are the common types of current assets?

1. Cash, Inventories, Deliverables, Long term loans, and advances
2. Tangible Assets, Intangible Assets, and non-current investment
3. Cash, Inventories, Intangible Assets, Non-current investment
4. Cash, Inventories, Receivables, short-term loans, and advances

4. _______ is the value of raw material held, work in process, and finished good held by the business?

1. Surplus
2. Revenues
3. Debentures
4. Surplus

5. Any income or profit not paid out to shareholders is called _____?

1. Retained Earnings
2. Revenues

3. Debentures
4. Surplus

6. ______ is also called the income statement?

1. Statement of cash flow
2. Profit and Loss Statement
3. Balance Sheet 
4. general Journal

7. Balance Sheet is divided into two parts. What are they?

1. Assets and Liabilities
2. Equity and Liabilities
3. Equity and Assets
4. None of them are correct

8. ______ sheet represents the financial position of a business of a particular date, typically at the end of the quarter or financial year?

1. Statement of Cash Flows
2. Profit and Loss Statement
3. Balance Sheet
4. Ledger Sheet

9. Inventories are the value of raw material held, work in process, and finished goods held by the business?

1. True
2. False

10. Both Assets and liabilities are classified as current and non-current?

1. True
2. False

#9. Marketing Education Handling Questions & Concerns

1. Why should we identify customers' needs?

1. The motive driving the customers to purchase an item is the need for it
2. Ensures Customer satisfaction and loyalty
3. Both are Correct
4. Neither is Correct

2. The innovation of products based on the customer need is of the value of the business?

1. True
2. False 

3. Active Listening is one of the client's reactions to a typical sales pitch?

1. True
2. False

4. Select the correct structure of a good sales pitch?

1. Hook and Objective
2. Rook and Objective
3. Rook and Subjective
4. Nook and Subjective

5. Hearing is the same as listening?

1. True 
2. False

6. Listening for enjoyment is called as _____?

1. Appreciative Listening
2. Articulative Listening 
3. Insprational Listening
4. Empthatic Listening

7. A trusted adviser promotes a product aggressively to the customer?

1. True 
2. False

8. How to become a Trusted Adviser?

1. Understand the concern of the customer
2. Peddle/promote the product
3. Both are Correct
4. Neither is Correct

9. Service promise is the assurance given to the customer about in-time delivery of assured ____ and ___ of the product?

1. Integrity and Certainty
2. Sincerity and Speciality
3. Quantity and Quality
4. Variety and Guaranty

10. Delivering what customers want is one of the constituents of a service promise?

1. True T
2. False 

#10. Marketing Education Value 

1. Value can be defined in terms of _____ perspective as well as based on _____?

1. Customer, Cost
2. Newcomer, Price
3. Customer, Price
4. Newcomer, Cost

2. What are the advantages of adopting a value perspective?

1. Clear Differentiation 
2. Helping the customer understand how and how much he benefited
3. Ability to justify pricing or even price at a premium
4. All of the Above

3. According to the framework for entrepreneurs, select the best statement below?

1. Value Creation > Value Delivery > Value Capture
2. Value Capture > Value Creation > Value Delivery
3. Value Creation > Value Capture > Value Delivery
4. Value Delivery > Value Creation > Value Capture 

4. Select the correct statement?

1. Value depends on the features or services provided by the store
2. Value depends on the features or services sold by the salesman
3. Value depends on the features or services discounted by the store's owner
4. Value depends on the features or services consumed by the customer

5. ______ everyone competes on price as no one is exploring how they are able to differently adding value to customers?

1. Digitization
2. Commoditization

3. Privatization
4. Capitalization

6. value is what the shop/store provides to the customer. (Like service of a shop or features of a product)?

1. True
2. False

7. Why is a customer purchasing from a particular store?

1. Because the customer values the AC you provide inside the shop
2. Because the customer values the product or service the shop provides
3. Because the customer values the friendship with the shop's owner
4. All of the Above

8. Select the correct statement?

1. Value is customers defined
2. Value is consultant defined
3. Value is salesman defined
4. Value is businessman defined

9. Where does the value reside?

1. In the salesman's mind
2. At the POC of the store
3. In the Customer's mind
4. In the store's owner's mind

These are all the questions along with the answers in a real test environment to make you prepare for the CSC TEC exam. If you practice it several times then you definitely going to succeed in the TEC exam.

Conclusion 

I hope these questions and answers will make you prepare to crack the CSC TEC exam as not it becomes mandatory. Here TEC Assessment  & Final Exam Questions Answer Key is given. You can practice these TEC Assessment Question answers if you want to get qualified for CSC TEC Exam.

FAQ

Q1. What is the Registration Fee of TEC Exam?

Ans - The Exam Fee of TEC Exam is 1479/- only.

Q2. What is the total no of questions in the TEC final exam?

Ans - The total no. of question in Tec exam is 50.

Q3. What is the passing mark of TEC exam?

Ans - The passing mark is 50% in TEC exam.