Grinding It Out Test | Mid-Book Test - Easy

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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. Kroc's philosophy regarding opportunity is to:
(a) Stay with the security of a job.
(b) Ignore opportunities.
(c) Take advantage of every opportunity that presents itself.
(d) Carefully sort through opportunities.

2. It cost Kroc how much to buyout the Frejlack Ice Cream interest in McDonalds?
(a) $10,000.
(b) $50,000.
(c) $5,000.
(d) $25,000.

3. How did McDonalds manage to borrow $1.5 million from three insurance companies?
(a) In exchange for 22.5% of their stock.
(b) By signing guarantees.
(c) By give them managing control.
(d) By improving their balance sheet.

4. What was the purpose of the Franchise Realty Corporation?
(a) To handle the franchise real estate end of the franchising.
(b) To sell franchises.
(c) To sell restaurants.
(d) To provide a slush fund for the franchises.

5. What was Kroc responsible for having introduced at Price Castle?
(a) French fries.
(b) Milk shakes.
(c) Hot dogs.
(d) Hamburgers.

6. What was one of the most successful elements of the McDonald's brothers operation?
(a) Soft drinks.
(b) French fries.
(c) Shakes.
(d) Hamburgers.

7. Who did Ray pattern himself after at the age of seventeen?
(a) Spencer Tracy.
(b) Humphrey Bogart.
(c) Clark Gable.
(d) Rudolph Valentino.

8. The One-In-a-Million was:
(a) A sales course.
(b) A new mixing machine.
(c) Kroc's sales strategy.
(d) A Prince Castle milk shake.

9. Where was the first McOpCo Store?
(a) Peoria, Illinois.
(b) San Diego, California.
(c) Torrence, California.
(d) Columbus, Ohio.

10. Why does Kroc say he didn't just copy the McDonald's idea instead of entering into a contract with them?
(a) He didn't think of it.
(b) It was too complicated.
(c) He required their expertise.
(d) It was too costly.

11. Who did Kroc used to work for?
(a) Hoover Company.
(b) Ford Motor Company.
(c) The state of California.
(d) Lily Tulip Cup Company.

12. Who did Kroc recommend to open restaurants for them?
(a) They had no recommendations.
(b) Kroc himself.
(c) His employer.
(d) They hire a manager.

13. The cause of the mechanic's liens was due to:
(a) The failure to obtain clear title to the property.
(b) Incompetence.
(c) Fradulent practices.
(d) Carelessness.

14. Kroc hired Harry Sonnenburn to handle:
(a) Restaurant development.
(b) Sales.
(c) Staffing.
(d) Financing.

15. What job did Ray hold in the Chicago financial market?
(a) Stock broker
(b) Stock trader.
(c) Board marker.
(d) Runner.

Short Answer Questions

1. After the real estate job ended, Ray supported his family by:

2. What was Kroc's net worth in 1959?

3. Sonnenburn began working for a weekly take home salary of:

4. What word does Kroc use to describe Ethel's reaction to his new venture?

5. Which product did Ralph Sullivan pioneer?

(see the answer keys)

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