Diamond Industry Knowledge Quiz

ASSIGNMENT 1 1. What is traceability in the gem and jewelry industry? A. Evaluation of a gem’s quality and price B. Location of trace elements in a gem C. Investigation of a stone’s price change over time D. Confirmation of a gem’s history across the supply chain 2. What are used in the GIA Diamond Grading System? A. Symbols B. Trade names C. Roman numerals D. Letters and simple expressions 3. How can diamond science help with sales? A. Expand clientele B. Increase foot traffic C. Convey diamond rarity D. Lower cost of inventory 4. What is the benefit of a standard diamond grading system? A. Allow widespread use and acceptance of trade terms B. Permit comparison of different diamonds C. Enable dealers to develop unique terms D. Let consumers purchase at lower prices 5. What is often done when evaluating small, low-quality diamonds? A. Thorough grading of all quality factors B. Advanced testing with instruments C. Examination under a microscope D. Quick inspection with a loupe 6. What research is important to the identification of lab-grown and treated diamonds? A. Market trend analysis B. Natural diamond studies C. Colored gemstone studies D. Diamond exploration surveys 7. What operation is at the start of the diamond value chain? A. Retail store B. Online store C. Diamond mine D. Cutting factory 8. What is true about diamond formation? A. They often form in outer space B. They form anywhere underground C. They form under extreme conditions D. They often form on the earth’s surface 9. What industry commonly works with mounted diamonds? A. Cutting B. Mining C. Appraisal D. Lab grading 10. What industry knowledge helps better satisfy client demand? A. Laser techniques B. Diamond defects C. Advanced testing D. Market awareness 11. What are the Four Cs of the GIA Diamond Grading System? A. Cut, color, clarity, and community B. Color, cut, clarity, and carat weight C. Carat weight, control, clarity, and color D. Criteria, clarity, color, and carat weight 12. What is another term for diamond value chain? A. Diamond production system B. Diamond supply chain C. Diamond trading platform D. Diamond manufacture supply 13. Why is identifying lab-grown diamonds challenging? A. Natural and lab-grown diamonds are identical B. Advancement and refinement of growth techniques C. Instruments to identify them are unavailable D. Laboratories cannot distinguish them from natural diamonds 14. What statement about treated diamonds is incorrect? A. They can be natural or lab-grown. B. They require advanced testing to identify. C. They can be treated in many different ways. D. They are easy to identify with the unaided eye. 15. What must diamond jewelry retailers carefully consider? A. Efficient diamond cutting B. Advanced mining techniques C. Locations for potential mines D. Multiple consumer generations 16. What best describes the diamond value chain? A. Chain of branded jewelry B. Series of segments and practices C. Multiple rough diamond suppliers D. All involved in the industry 17. What research aids determination of diamond color origin? A. Clarity analysis B. Colored gemstone studies C. Diamond color cause studies D. Diamond exploration surveys 18. What is the benefit of a standard diamond grading system? A. Allow widespread use and acceptance of trade terms B. Enable accurate discussion of diamond quality C. Permit comparison of different diamonds D. Let consumers purchase at lower prices 19. What type of work do appraisers do? A. Plan diamond cutting B. Evaluate jewelry C. Study color causes D. Investigate buyer ASSIGNMENT 2 1. How does the amount of participants change moving down the diamond value chain? A. Increases B. Fluctuates C. Decreases D. Stays the same 2. What led to De Beers’s control of the diamond trade? A. Great Depression B. Strong global campaigns C. Limited Russian production D. Death of Ernest Oppenheimer 3. What segment of the diamond value chain has the most chance and uncertainty? A. Mining B. Jewelry retail C. Cutting and polishing D. Jewelry manufacturing 4. When was the first diamond rush in South Africa? A. 1690s B. 1780s C. 1860s D. 1900s 5. Who took control of all claims in the De Beers and Kimberley mines? A. Cecil Rhodes B. Lawrence Graff C. Barney Barnato D. Ernest Oppenheimer 6. Where are the majority of rough diamonds cut and polished? A. Surat, India B. Tel Aviv, Israel C. Antwerp, Belgium D. New York, United States 7. What is the key reason for growth in the diamond industry? A. Advertising B. Jewelry design C. Diamond supply D. Consumer demand 8. What describes large-scale mining companies that lead the industry? A. Chiefs B. Majors C. Principals D. Dry diggers 9. What caused rough diamond sales to shift from a single-channel to multi-channel market? A. Death of Cecil Rhodes B. Sales outside of the CSO C. Dissolution of the Syndicate D. Decline in diamond demand 10. Where does the physical trade of rough for long-term contracts take place? A. Sights B. Tenders C. Auctions D. Spot sales 11. What group formed in the late 1800s to buy and sell all diamond production? A. Diamond Trading Company B. London Diamond Syndicate C. Antwerp Diamond Association D. De Beers Consolidated Mines Ltd. 12. What is an upstream segment of the diamond value chain? A. Cutting and polishing B. Jewelry manufacturing C. Sorting and distribution D. Faceted diamond trading 13. What concept describes a nation saving a share of its assets for economic growth? A. Enrichment B. Beneficiation C. Industrialization D. Technical unification 14. What business plan describes operation in multiple segments? A. Diamond pipeline B. Vertical integration C. Multi-channel market D. Single-channel market 15. Why did the Indian diamond industry decline in the 1700s? A. Resources depleted B. Diamonds lost value C. Preference for colored stones D. Diamonds discovered in South Africa