You can find the correct answer and detailed explanation for each question immediately following the question (simply highlight to read), along with all the answers at the end of the quiz. Good luck!

Question 1: Who said, "We want to use Instagram as a magazine, rather than a constant daily diary of what products are in the stores"?

a. Craig Leavitt of Kate Spade
b. Adrian Joffe of Comme des Garçons International
c. Herbert Hainer of Adidas
d. Humberto Leon and Carol Lim of Opening Ceremony

Answer 1: Choice (b) is correct. Adrian Joffe recently shared, "We want to use Instagram as a magazine, rather than a constant daily diary of what products are in the stores. There will be chapters and stories. We want to communicate with a big wide audience, an audience we've never reached before, a global audience."

Question 2: What is the fastest growing segment of the watch market?

a. smartwatches
b. low-priced watches
c. mid-priced watches
d. high-end watches

Answer 2: Choice (d) is correct. High-end watches saw the biggest jump to $24.3 billion, up 12.4 percent from two years before. 

Question 3: As of this week, which athletic footwear brand has the highest price-to-earnings ratio?

a. Puma
b. Under Armour
c. Nike
d. Adidas

Answer 3: Choice (b) is correct. Adidas shares trade at 16.9 times forward earnings to 22 times for Nike and almost 62 times for fast-growing U.S. upstart Under Armour. 

Question 4: Which apparel item has captured the attention of male fashion consumers?

a. slim suit
b. fitted shirt
c. athletic pants
d. printed ties

Answer 4: Choice (a) is correct. The slim suit is that rare menswear trend that has captured the attention of the cool kids, the GQ cover stars, and the mainstream corporate guys alike.

Question 5: The return rate for an online retailer is ____.

a. less than 10 percent
b. between 10 and 20 percent
c. between 20 and 30 percent
d. between 30 and 40 percent

Answer 5: Choice (c) is correct. "Usually the return rate for an online retailer is going to be 20 to 30 percent," said Sucharita Mulpuru, vice president and analyst at Forrester Research, a global research and advisory firm.

Question 6: For the upcoming New York Fashion Week, which brand will be holding a one-act play instead of a traditional runway show?

a. Opening Ceremony
b. Kate Spade
c. Tory Burch
d. Gareth Pugh

Answer 6: Choice (a) is correct. Opening Ceremony will be holding a one-act play in lieu of a runway show during New York Fashion Week.

Question 7: It is expected that by 2020, ___ percent of watches will be connected to the internet.

a. 25
b. 45
c. 60
d. 75

Answer 7: Choice (c) is correct. "In 2020, we expect 60 percent of all watches sold in the world to be connected with the Internet," said Pascal Koenig, managing director at Zurich-based Smartwatch Group, an independent research company. He predicts that $2.5 billion worth of smartwatches will be sold globally in 2014.

Question 8: Comme des Garçons is a brand rooted in values, or ____.

a. kanban
b. kachikan
c. poka yoke
d. kaizen

Answer 8: Choice (b) is correct. Kachikan means 'a sense of values.'

Question 9:  In a recent US survey, which brand did consumers rank as their first choice of athletic apparel?

a. Nike
b. Adidas
c. Lululemon Athletica
d. Reebok

Answer 9: Choice (a) is correct. A Cowen survey of 2,500 U.S. consumers published last month showed 43 percent named Nike as their first choice of athletic apparel, compared with just 13 percent for Adidas, 6 percent for its Reebok brand, and 14 percent for Under Armour.

Question 10: According to Olu Michael Odukoya of OMO Creates, the internet has created a(n) ____ culture.

a. observer
b. creative
c. producer
d. absorber

Answer 10: Choice (d) is correct. Olu Michael Odukoya recently shared, "Ultimately, the rise of 'absorber' culture as a direct result of the internet has been useful for me, because it has separated what I do from a large part of the industry. I am a provider rather than an absorber, and this is a more notable distinction in the digital age. There will always be an advantage for those who produce things to connect with people, rather than making them automatically."

Answer Key: 1. (b) 2. (d) 3. (b) 4. (a) 5. (c) 6. (a) 7. (c) 8. (b) 9. (a) 10. (d)