What is the 2 x 8 rule? - Correct answer-The first row of audience should be 2 times the
height of the screen, the last row should be no more than 8
... [Show More] times the height of the
screen.
What is an ex-gratia payment? - Correct answer-A bribe to customs
What are some accomodations you can offer to a vision-impaired attendee - Correct
answer-Tactile Maps
Interpreter
Alternative Media (Braille, Large Print, Audiotape)
Who is responsible for ensuring ADA accesibility - Correct answer-Organizer is
responsible for program
Venue is responsible for venue
What are the two methods for building a budget? - Correct answer-1. Zero based: no
history, based on potential income/expenses
2. Incremental: based on past and potential figures
Name and define the three types of event costs - Correct answer-Variable: based on #
of attendees
Fixed: Independent of # of attendees
Indirect: Organizational expenses related to event
What is the formula for setting registration costs based on a fixed number of attendees?
- Correct answer-Divide fixed costs by number of attendees, then add variable cost per
attendee.
What is the formula for the number of attendees needed to break even? - Correct
answer-Subtract variable cost per attendee from registration fee, then divide fixed costs
by that number.
How do you add a fixed profit when doing an event income analysis? - Correct answerAdd the amount of profit to fixed costs before calculating registration fee or number of
attendees needed to break even.
How do you add a % profit when doing an event income analysis? - Correct answerMultiply the registration fee or number of registrants by the % of profit needed.
CMP EXAM WITH 100% CORRECT
ANSWERS 2023 Graded A+
What is buying forward? - Correct answer-Exhanging the needed amount on money to
the necessary currency at a known exchange rate to avoid negative shifts
What are the two main tax issues for international events? - Correct answer-1. Will
attendees and host org. need to pay taxes at home due to int'l location
2. Will attendees and host org. need to pay taxes to int'l country
What is the VAT? - Correct answer-Value Added Tax. This is charged on the value
added to an item by the manufacturer. It's charged on the difference between the cost of
manufacture and the cost charged to the end buyer. Charged by different countries, at
different rates, for different items. Not charged when event will break even.
What are the two types of accounting? - Correct answer-Cash and Accrual.
In cash accounting, when are income and expenses recorded? - Correct answer-Time
of transaction
(ie: when the registrant first registers for the meeting)
In accrual accounting, when are income and expenses recorded? - Correct answerTime actually incurred
(ie: registration fees are recognized in month of event)
What type of accounting is used for meetings? - Correct answer-Accrual. It gives a
better idea of where assets stand at any given time.
Which accounting method recognized accounts receivable/ payable - Correct answerAccrual. It treats accounts payable and cash expenses as depreciation.
What does a balance sheet show? - Correct answer-Overall net worth at a given time
What does an income statement show? - Correct answer-Profit and loss over a period
of time
What does a cash-flow statement show? - Correct answer-Core operations, Investing,
Financing
What does a spreadsheet control report show? - Correct answer-Antinipated income
and expenses by month.
What is a chart of accounts? - Correct answer-A list of all income and expense line
items with account numbers
What are some organizational factors what can affect a budget? - Correct answer-Local
ordinances and taxes, Labor, Legal issues, Risk management, Staffing, Volunteer
worker available, VIP travel, Different registration rates for members.
What should you use to convey to the facility exactly what should be charged to the
master bill? - Correct answer-A Master account au [Show Less]