ACE - Lifestyle Entrepreneurship Project

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Self-assessment test for adult learner

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The aim of the test is to evaluate the adult learner‘s competencies on the Self-study material in order to become Lifestyle Entrepreneur. This test should be taken before and after the training. The test consists of 12 multiple-choice questions with comprehensive answers. Please select the correct answer to each question. Having completed the test, the system will provide you with the total score (percentage).
Please, save test results for further reference.

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Total Questions	Full Score	Passing Rate	Passing Score
12	12	80%	9.6

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Self-assessment test for adult learner

Question 1 of 12

What is “Lifestyle Entrepreneurship” (LSE)?

self-employment based on one’s education
requires post-secondary education in business management
discovering new opportunities based on one's talents, hobbies

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Self-assessment test for adult learner

Question 2 of 12

What are the differences between traditional entrepreneurship and Lifestyle entrepreneurship?

traditional Entrepreneurship is usually a home-based business
there are no differences
different from traditional Entrepreneurship LSE has a very strong social aspect which helps to solve my problems, such as unemployment, isolation, loneliness, social, financial difficulties

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Self-assessment test for adult learner

Question 3 of 12

What are the main components of the entrepreneurship?

ideas and opportunities, resources, action
social responsibility and ethical norms
communication, solidarity and financial literacy

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Self-assessment test for adult learner

Question 4 of 12

What are the main principles of running and managing a business?

defining the business mission
completing market research to understand your customers
developing a marketing strategy
all the above mentioned

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Self-assessment test for adult learner

Question 5 of 12

Which components of the business plan are the most important?

market research, executive summary and mission statement
financial plan
aims & objectives and SWOT analysis
all of them are equally important

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Self-assessment test for adult learner

Question 6 of 12

Which is the most comprehensive description of the mission statement?

it should consist of more than four sentences
it should be short, clear, inspiring and concise
it could be used to describe any business in the category
it should be revised and changed every year

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Self-assessment test for adult learner

Question 7 of 12

Is it necessary to separate personal and business finances?

it is always necessary
it depends on the type of business
it is not necessary

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Self-assessment test for adult learner

Question 8 of 12

What are the benefits of being a Lifestyle Entrepreneur?

there is no need to worry about the quality of the product or service
I can operate the business from home, it is time-efficient, low cost
there are no difficulties to separate home life from work

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Self-assessment test for adult learner

Question 9 of 12

The business SWOT analysis is useful because:

it allows the entrepreneur to identify the business needs
it allows the entrepreneur to identify the Strengths, Weaknesses, Opportunities and Threats
it allows the entrepreneur to set up a marketing plan

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Self-assessment test for adult learner

Question 10 of 12

Can Lifestyle Entrepreneurship success stories inspire one to start a business?

no, each success story is based on other people's personal experience and can’t apply to others
yes, success stories can help to discover new opportunities for self-employment around yours passions, hobbies and lifestyle skills
yes, one can take any success story and develop the same business idea, even though it’s not based on his/her hobby, passion or lifestyle skills

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Self-assessment test for adult learner

Question 11 of 12

What are the benefits of running an on-line store? (more than one option is possible)

the on-line store is available 24/7,
it is both cost effective and time saving
it is time saving for the customer

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Self-assessment test for adult learner

Question 12 of 12

Part of the New Skills Agenda for Europe (2016) is:

everyone should have the key set of competences needed for personal development
everyone should have an entrepreneurial attitude
everyone can identify opportunities for personal and professional development

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Self-assessment test for adult learner

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Total Questions	Full Score	Passing Rate	Passing Score	Your Score	Elapsed
12	12	80%	9.6

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