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Quizzes > Quizzes for Business > Business

Test Your Cannabis Industry Knowledge Quiz

Explore Essential Cannabis Industry Facts and Trends

Difficulty: Moderate
Questions: 20
Learning OutcomesStudy Material
Colorful paper art depicting elements related to Cannabis Industry Quiz

Are you an aspiring industry professional or educator? This cannabis quiz is your perfect way to benchmark knowledge of market dynamics and compliance essentials. Drawing inspiration from our Cannabis Knowledge Assessment Quiz and the Cannabis Effects Knowledge Test, this edition dives deeper into cultivation, distribution, and regulation. Joanna Weib invites you to explore key concepts, test industry insights, and refine your expertise. Everyone from curious students to seasoned practitioners can customize this free industry quiz in the online editor and explore more quizzes to expand their learning toolkit.

Which segment of the cannabis industry specifically refers to cannabis products intended for adult recreational consumption?
Recreational cannabis
Medical cannabis
CBD wellness products
Industrial hemp
Recreational cannabis refers to products sold for non-medical adult use. Medical cannabis is used under a physician's recommendation. Industrial hemp and CBD wellness products have different regulatory classifications.
What is the primary psychoactive compound found in cannabis responsible for the "high" sensation?
CBG (cannabigerol)
CBD (cannabidiol)
CBN (cannabinol)
THC (tetrahydrocannabinol)
THC (tetrahydrocannabinol) is the principal psychoactive cannabinoid in cannabis. It binds to CB1 receptors in the brain to produce intoxication. Other cannabinoids like CBD are non-intoxicating.
Which major global cannabis company is headquartered in Canada and known for brands like Tweed and Tokyo Smoke?
MedMen
Canopy Growth
Tilray
Aurora Cannabis
Canopy Growth is a leading Canadian cannabis producer known for the Tweed and Tokyo Smoke brands. Tilray and Aurora are also Canadian but do not own these brands. MedMen is based in the United States.
Which type of cannabis product is categorized as an edible?
Vape cartridge
Topical cream
Tincture
Gummy bear
Gummy bears are ingested and thus classified as edibles. Vape cartridges are inhaled, topicals are applied to the skin, and tinctures are sublingual or oral liquids.
In indoor cultivation, what light-dark cycle is commonly used to induce flowering in cannabis plants?
18 hours light / 6 hours dark
12 hours light / 12 hours dark
6 hours light / 18 hours dark
24 hours light / 0 hours dark
A 12/12 light-dark cycle triggers flowering in most cannabis cultivars. Longer light periods maintain vegetative growth, while extended darkness can stress plants.
Which system ensures tracking cannabis plants and products from seed through retail sale for regulatory compliance?
Good Manufacturing Practice (GMP)
Seed-to-Sale tracking
Hazard Analysis Critical Control Points (HACCP)
Good Agricultural Practices (GAP)
Seed-to-Sale tracking records each stage of cannabis cultivation, processing, and sale to ensure regulatory compliance. It provides transparency and prevents product diversion. GAP and GMP focus on cultivation and manufacturing quality only.
Which country was the first to federally legalize adult-use cannabis?
Netherlands
Canada
Uruguay
Portugal
Uruguay was the first country to fully legalize adult-use cannabis at the federal level in 2013. The Netherlands allowed tolerance policies but not full legalization. Canada followed in 2018.
Which segment has shown the fastest recent growth in the cannabis market due to consumer wellness trends?
Adult-use flower
CBD wellness products
Medical pharmaceuticals
Hemp fiber
CBD wellness products have surged in popularity as consumers seek non-intoxicating health benefits. Adult-use flower remains large but not the fastest-growing segment. Hemp fiber and pharmaceuticals grow more slowly by comparison.
Which financial metric measures profitability before interest, taxes, depreciation, and amortization?
EBITDA
Net Profit
Gross Margin
Return on Investment (ROI)
EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization and is used to assess operational profitability. It excludes financing and accounting decisions. Net profit includes all expenses.
Which cannabis strain type is generally known for more uplifting and cerebral effects?
Hybrid
Sativa
Indica
Ruderalis
Sativa-dominant strains are often associated with energetic and cerebral experiences. Indicas tend to be more sedating. Hybrids combine traits, and ruderalis lacks distinct psychoactivity.
In the United States, which federal agency is primarily responsible for enforcing cannabis scheduling and control?
United States Department of Agriculture (USDA)
Food and Drug Administration (FDA)
Centers for Disease Control and Prevention (CDC)
Drug Enforcement Administration (DEA)
The DEA enforces federal controlled substances laws, including cannabis scheduling under the Controlled Substances Act. The FDA regulates safety and labeling of drugs and foods, while USDA handles agriculture.
What term describes a business strategy of acquiring companies at the same stage of the cannabis value chain?
Diversification
Vertical integration
Horizontal integration
Franchising
Horizontal integration involves merging with or acquiring competitors in the same industry stage, such as multiple cultivators. Vertical integration spans different stages, like cultivation and retail. Diversification and franchising differ.
Which business risk is especially acute for cannabis companies due to federal classification in the U.S.?
Banking restrictions
Patent infringement
Overfishing
Weather variability
Federal scheduling of cannabis creates banking restrictions, limiting access to traditional financial services. Weather variability affects agriculture broadly, while patent infringement and overfishing are less industry-specific.
During the flowering stage, cannabis plants require higher levels of which nutrient?
Calcium
Nitrogen
Magnesium
Phosphorus
Phosphorus is critical for bud development and flower maturation in cannabis. Nitrogen is more important during vegetative growth. Calcium and magnesium support overall plant health but are secondary in flowering.
Under the US 2018 Farm Bill, which classification of cannabis product is federally legal when containing less than 0.3% THC?
Medical marijuana
Hemp
Recreational cannabis
Marijuana concentrates
Hemp is defined by the 2018 Farm Bill as cannabis containing no more than 0.3% THC on a dry weight basis, making it federally legal. Medical and recreational marijuana exceed that THC limit and remain controlled substances.
Which cannabis product type includes all cannabinoids and terpenes present in the plant, including trace THC?
Distillate
Broad-spectrum extract
CBD isolate
Full-spectrum extract
Full-spectrum extracts retain the complete profile of cannabinoids, terpenes, and other plant compounds, including trace amounts of THC. Broad-spectrum removes THC but keeps other compounds. Isolates contain only one compound.
When exporting cannabis products internationally, which document provides detailed lab results for potency and contaminants?
Pharmacovigilance Report
Good Manufacturing Certificate
Certificate of Analysis
Import Compliance Declaration
A Certificate of Analysis (CoA) details laboratory testing results, including cannabinoid potency and contaminant levels. It is required by many importing countries to verify product safety and compliance.
Which propagation method uses sterile lab conditions to produce genetically identical cannabis plants at scale?
Seed germination
Cuttings
Tissue culture
Grafting
Tissue culture propagation uses sterilized lab environments to clone plants from small tissue samples, ensuring genetic uniformity and disease-free stock. Cuttings also clone but are less scalable and sterile than tissue culture.
A cultivation facility has monthly fixed costs of $50,000 and variable costs of $1 per gram. If it sells cannabis at $5 per gram, how many grams must be sold to break even?
10,000 grams
12,500 grams
20,000 grams
15,000 grams
Break-even units = Fixed Costs ÷ (Price - Variable Cost) = 50,000 ÷ (5 - 1) = 12,500 grams. This calculation identifies the sales volume needed to cover all costs.
Which measurement is critical for assessing microbial growth risk in stored cannabis flower?
THC potency
pH level
Water activity (aw)
Terpene profile
Water activity (aw) measures the availability of water for microbial growth and is key for predicting mold and bacterial risk. pH and potency do not directly indicate microbial safety. Terpene profiles affect aroma but not microbial stability.
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Learning Outcomes

  1. Identify major players and segments within the cannabis industry.
  2. Analyze industry regulations and compliance requirements globally.
  3. Evaluate market trends and emerging business opportunities.
  4. Apply knowledge of cultivation and production processes.
  5. Demonstrate understanding of product classification and usage.
  6. Master financial and operational metrics for industry success.

Cheat Sheet

  1. Major Players and Segments - Dive into the big names and niche innovators shaping the cannabis world, from boutique growers to multi-state operators. Get a bird's-eye view of cultivation, processing, and retail sectors to understand who does what and why it matters. The Cannabis Industry: An Overview
  2. Global Regulations and Compliance - Travel the globe (virtually!) and map out how different countries regulate cannabis, from licensing hoops to packaging rules. Knowing these legal mazes helps you predict challenges and spot opportunities in international markets. Global Cannabis Regulations
  3. Market Trends and Opportunities - Keep your finger on the pulse of consumer tastes, from CBD-infused beverages to high-THC edibles. Spot rising trends and emerging niches so you can brainstorm the next big thing before your classmates do. Cannabis Market Trends
  4. Cultivation and Production Processes - Explore the science behind seed to sale: planting schedules, lighting hacks, nutrient mixes, and harvesting tips. Mastering these steps ensures top-notch yields and happy customers. Cannabis Cultivation and Production
  5. Product Classification and Usage - From flower and oils to topicals and tinctures, learn how products are classified and matched to medicinal or recreational uses. This knowledge helps you tailor recommendations to different audiences. Cannabis Product Classification
  6. Financial Metrics for Success - Get comfortable with revenue streams, profit margins, and ROI specific to the cannabis sector. Crunching these numbers shows you which business models thrive and where to cut costs. Financial Metrics in Cannabis Industry
  7. Operational Metrics and Efficiency - Learn how to measure yield per square foot, calculate production costs, and track inventory turnover. Efficient operations are your secret weapon in a crowded market! Operational Metrics in Cannabis Industry
  8. Quality Control and Assurance - Discover testing protocols, contamination checks, and best practices that keep products safe and compliant. A solid QA program builds trust and keeps regulators smiling. Quality Control in Cannabis Industry
  9. Marketing and Consumer Education - Craft clear, engaging messages to teach consumers about strains, dosing, and safe consumption. Smart marketing + transparent education = loyal fans and repeat sales. Cannabis Marketing Strategies
  10. Legal and Ethical Considerations - Grapple with advertising limits, social equity programs, and responsible branding. Understanding these issues ensures your business stays on the right side of the law and public opinion. Legal and Ethical Issues in Cannabis Industry
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