Exam Preview for 1871: Starting a Private Practice September 27, 20

Starting a Private Practice

Please note: exam questions are subject to change.

1. What is one factor that will help to define your success when starting a private practice? Financial Security Discipline Flexible Hours Location
2. Which phrase best describes the Hedgehog Concept? Keep your head in the sand Wear multiple hats Focus on one thing you do best Stay organized
3. Which of the following is NOT one of the 10 steps in starting your own business? Buy office furniture Write your business plan Conduct market research Get federal and state tax identification numbers
4. Your business plan should: List your business location Serve as the initial blueprint for your business Include the names of your business associates Be available to your clients
5. Which of the following should NOT be included in your business plan? Executive Summary Marketing Plan Business Associates Financial Considerations
6. Which would be considered an “alternative” idea for a business location? Purchasing office space Renting office space Renting a portion of office space from another provider A RV
7. An LLC (limited liability company) is: a tax classification a type of business entity/structure a S-Corp a C-Corp
8. When opening a business bank account for your private practice: do not co-mingle personal and business funds utilize your personal account utilize your personal credit card use your personal name
9. Recommended marketing software includes all of the following EXCEPT: Psychology Today Facebook Business LinkedIN Colleagues
10. Which of the following would be NOT be pertinent to include in your Referral Form? Client Name Client Social Security Number Client Insurance Information Client Telephone Number