Curriculum

VCE Business Management Units 1 and 2 - 3 Practice Pack

Getting Started - VCE BUSMGT U12 - 3 Practice Packs

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Year 11 Guide - VCE BUSMGT U12 - 3 Practice Packs

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Unit 1 - Business Concepts and Structures - VCE Business Management Units 1 and 2 - 3Pack

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Unit 2 - Business Operations and Management - VCE Business Management Units 1 and 2 - 3Pack

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Exam Technique - VCE Business Management Units 1 and 2 - 3Pack

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Practice Exam 1 of 3 - VCE BUSMGT U12

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Practice Exam 2 of 3 - VCE BUSMGT U12

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Practice Exam 3 of 3 - VCE BUSMGT U12

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After the Exam - VCE BUSMGT U12 - 3 Practice Packs

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Text lesson

VCE-BUSMGT-U12 6.1 📋 Practice Exam 3: Question Paper

Practice Exam 3

VCE Business Management |

✎ Complete ALL questions on paper before opening the Model Answers lesson. No notes. Aim for 1 minute per mark.

SHORT ANSWER

Question 1 (4 marks)

Explain the key components of a business plan.

✎ Write your answer on paper

Question 2 (4 marks)

Explain break-even analysis. Calculate the break-even point: Fixed costs $50,000; selling price $25; variable cost per unit $10.

✎ Write your answer on paper

Question 3 (4 marks)

Explain the difference between debt and equity financing. What are the advantages and disadvantages of each?

✎ Write your answer on paper

Question 4 (4 marks)

Explain what cash flow management is and why it is critical for business survival.

✎ Write your answer on paper

Question 5 (4 marks)

What is a SWOT analysis? How should a business use it in strategic planning?

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Question 6 (4 marks)

Explain the difference between a mission statement, vision statement and business objectives. Give examples of each.

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Question 7 (4 marks)

Explain Michael Porter’s three generic competitive strategies. Give an example of a business using each.

✎ Write your answer on paper

Question 8 (4 marks)

What is financial risk and how can a business manage it?

✎ Write your answer on paper

EXTENDED RESPONSE

Extended Response 1: Strategic Planning

Question 9 (6 marks)

Extended Response 1: Strategic Planning (a)
Explain Michael Porter’s Five Forces model. Apply it to the Australian supermarket industry.

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Extended Response 1: Strategic Planning

Question 10 (2 marks)

Extended Response 1: Strategic Planning (b)
Explain two strategies a supermarket could use to sustain its competitive advantage.

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Extended Response 2: Finance

Question 11 (5 marks)

Extended Response 2: Finance (a)
A new business is considering two financing options: (1) a bank loan at 8% interest for $200,000, or (2) taking on a business partner who invests $200,000 for a 40% share of the business. Evaluate both options.

✎ Write your answer on paper

Extended Response 2: Finance

Question 12 (3 marks)

Extended Response 2: Finance (b)
Explain what a cash flow forecast is and how it helps a business manage its finances.

✎ Write your answer on paper

✓ Finished? Open the next lesson – Model Answers – to mark your work.