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The Role of the Pharmacy Technician in Inventory Management

  1. Relating the pharmacy's inventory productivity to its gross margins is known as which of the following:

    • A) Return on Investment (ROI)
    • B) Gross Domestic Product (GDP)
    • C) Gross margin return on investment (GMROI)
    • D) Gross margin return (GMR)
  2. Unclaimed prescriptions in the community pharmacy setting should be returned to stock within which of the following time frames:

    • A) 4 to 7 days
    • B) 5 business days
    • C) 3 days
    • D) 7 to 10 days
  3. Most pharmacies will consider the placement of a drug into a dispensing vial a repackaging and will apply a shelf life/expiration date ________ months from the date of the prescription being filled.

    • A) 12
    • B) 6
    • C) 4
    • D) 8
  4. The amount of time that elapses between the placement of an order and the receipt of the merchandise is called the

    • A) Order cycle time
    • B) Wait time
    • C) Inventory cycle
    • D) Incubation time
  5. The National Community Pharmacists Association (NCPA) defines adequate inventory as which of the following:

    • A) Whatever you have on the shelf
    • B) Whatever you have on the shelf and on order
    • C) Basic stock + safety stock
    • D) Two times what you sold the previous day
  6. A positive inventory event ________ shelf inventory, it also has a ________ impact on pharmacy profitability.

    • A) Increases; negative
    • B) Decreases; positive
    • C) Increases; positive
    • D) Decreases; negative
  7. A situation in which the use of or exposure to a violative product may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remote is an example of a__________.

    • A) Class I recall
    • B) Class III recall
    • C) Class II recall
    • D) Market withdrawal
  8. The Generic Pharmaceutical Association (GPhA) reported that the average retail price of a generic medication prescription was less than _______ the price of a brand medication prescription in 2007.

    • A) 1/3
    • B) 1/8
    • C) 2/8
    • D) 5/8
  9. To maximize a pharmacy's GMROI and reduce the pharmacy's financial exposure, it would be a best practice to manage the brand name product inventory down at least _________ days prior to the introduction of a generic product.

    • A) 45
    • B) 30 to 60
    • C) 15
    • D) 7
  10. A ________ is an inventory auditing procedure where a small subset of inventory, in a specific location, is counted on a specific day.

    • A) Cycle count
    • B) Perpetual inventory
    • C) Spot count
    • D) Sight count
  11. It is also important to employ a ________ method of counting in an effort to mitigate the introduction of errors that could result from different users completing the cycle count.

    • A) Random
    • B) Standardized
    • C) Integrated
    • D) Segmented
  12. Example(s) of positive inventory events include which of the following:

    • A) Return to stock and new product introductions
    • B) Recalls and generic introductions
    • C) Short cycle count
    • D) Damaged product returns
  13. A pharmacist ________ return drug products to the pharmacy's stock once they have been out of the pharmacy's possession because the product's strength, quality, purity, or identity can no longer be ensured.

    • A) Should not
    • B) Could
    • C) Sometimes will
    • D) With permission will
  14. Which of the following are costs associated with carrying and maintaining inventories:

    • A) Sunk costs
    • B) Hidden costs
    • C) Carrying costs
    • D) Procurement costs
  15. Negative inventory events include which of the following:

    • A) New product introductions
    • B) Brand-to-generic transitions
    • C) Return-to-stock
    • D) Price increases
  16. The Current Good Manufacturing Practice (cGMP) regulations require, with certain exceptions, that drug products must bear expiration dates derived from tests conducted on samples stored in ______ container closure system in which the drug is marketed.

    • A) The same immediate
    • B) A like
    • C) A similar
    • D) A comparable
  17. In 2011, the Food and Drug Administration (FDA) approved ______ new molecular entities.

    • A) 24
    • B) 14
    • C) 44
    • D) 34
  18. When a pharmaceutical company recalls its product from the market because product tampering is suspected, this is considered which of the following:

    • A) Class I recall
    • B) Class II recall
    • C) Class III recall
    • D) Market withdrawal
  19. In an authorized generic transition the brand will license to a generic company to keep the generic price ______ to support a ______ brand price.

    • A) Lower/higher
    • B) Higher/higher
    • C) Higher/lower
    • D) Lower/lower
  20. In instances where a brand product moves directly from brand to generic, the branded product could experience at least a _______ market share erosion within the first 30 days. of generic availability.

    • A) 30%
    • B) 25%
    • C) 60%
    • D) 90%