Lesson 1.1.3

1.1.3 Entrepreneurial Skills and Attributes Quiz: NCFE Business & Enterprise, Unit 1

20 questions

Written by Revision Ninja · Last reviewed 11 October 2026

In partnership with Revision Ninja

This lesson separates attributes, which are character traits, from skills, which can be learned. It applies them to entrepreneurs: determination, independence and self-reflection against financial, management, communication and timekeeping skills, plus the difference between invention and innovation, and good decision-making.

Key points

  • Attributes are part of a person's character, whereas skills are developed through training and practice.
  • Determination, confidence, independence and willingness to take risks are attributes, so no course can supply them.
  • Book-keeping, negotiation, timekeeping and team management are skills that an evening class could improve.
  • Self-reflection means honestly reviewing your own performance, including your mistakes, and then changing what you do.
  • Calculated risk-taking means weighing possible losses against likely gains before acting, rather than gambling.
  • Invention is creating something new; innovation is turning that idea into a product that customers can buy.
  • Good decision-making compares the costs and risks of each option when no one else will approve the choice.

Key terms

Attribute
A personal quality that forms part of someone's character, such as confidence or determination.
Skill
An ability that can be learned and improved through training and practice.
Self-starter
Someone who begins work without being prompted because the drive comes from within.
Self-reflection
Judging your own performance honestly and learning from what went wrong.
Calculated risk
A risk taken after weighing the possible loss against the likely reward.
Invention
The creation of a brand-new product or idea that did not exist before.
Innovation
Developing an invention or idea into something a business can actually sell.

Host it live on the board and students join with a game code on their own devices, or revise alone with Free Play. The answers are revealed in the game.

Host this setFree Play

The 20 questions

  1. What is the key difference between an entrepreneurial attribute and a skill?

    • Attributes are natural
    • Skills are innate
    • Skills cannot change
    • Attributes cost money

  2. Which of these entrepreneurial qualities is an attribute, not a skill?

    • Book-keeping
    • Determination
    • Negotiation
    • Timekeeping

  3. An entrepreneur takes an evening class to get better at one of these. Which is it?

    • Enjoying taking risks
    • Being self-confident
    • Being independent
    • Managing a team

  4. What term describes creating a brand-new product or idea for the first time?

    • Invention
    • Marketing
    • Branding
    • Innovation

  5. What term describes turning a new invention into a product that sells?

    • Outsourcing
    • Invention
    • Innovation
    • Liquidation

  6. Which activity is an example of innovation rather than invention?

    • Creating a new chemical element
    • Releasing upgraded phones
    • Inventing the first engine
    • Discovering a law of physics

  7. Leo reviews what went wrong after each sale he loses. Which attribute is he showing?

    • Self-reflection
    • Risk-taking
    • Confidence
    • Independence

  8. Sam sets up her market stall and is ready to trade before the doors open. Which skill is she using?

    • Sales technique
    • Book-keeping
    • Negotiation
    • Timekeeping

  9. An entrepreneur checks that money coming in covers the bills. Which skill is this?

    • Time management
    • Using spreadsheet software
    • Financial management
    • Sales technique

  10. Jess dislikes being told what to do and wants to be her own boss. Which attribute is she showing?

    • Determination
    • Communication
    • Independence
    • Risk-taking

  11. Kwame runs a market stall. He sets each day's prices and orders his stock with nobody to tell him what to do. Which attribute is this?

    • Determination
    • Independence
    • Self-reflection
    • Risk-taking

  12. Which attribute does Priya rely on most when pitching her idea to a bank manager?

    • Delegation
    • Administration
    • Book-keeping
    • Confidence

  13. What describes a self-starting entrepreneur who begins projects without being prompted?

    • Delegation
    • Subordination
    • Compliance
    • Initiative

  14. After a poor Christmas, Leo works out which lines did not sell, admits he ordered badly and changes his stock plan. Which attribute is he showing?

    • Risk-taking
    • Self-reflection
    • Confidence
    • Self-starting

  15. Which of these is a skill an entrepreneur must learn rather than an innate attribute?

    • Keeping financial records
    • Personal confidence
    • Inherent drive
    • Natural resilience

  16. Which activity best demonstrates good decision-making by an entrepreneur?

    • Guessing future trends
    • Ignoring market research
    • Copying rivals blindly
    • Comparing costs and risks

  17. What do entrepreneurs weigh when taking a calculated risk?

    • Losses and gains
    • Profits and costs
    • Debt and equity
    • Risk and reward

  18. Which task most clearly requires an entrepreneur's financial skills?

    • Hiring new workers
    • Designing company logos
    • Calculating profit margins
    • Writing social posts

  19. Which situation relies most heavily on an entrepreneur's communication skills?

    • Pitching to investors
    • Managing stock inventory
    • Ordering raw materials
    • Reviewing balance sheets

  20. Which task is the best example of an entrepreneur using management skills?

    • Organising staff rotas
    • Designing a logo
    • Calculating net profit
    • Conducting market research

All NCFE Business & Enterprise quizzes