Quiz 1

A  Deposit and Cancellation policies

B  all the above

C  Length of time the contract prices exists.

D  Identification of Who is authorized to modify the contract

A  TRUE

B  FALSE

A  FALSE

B  TRUE

A  all the above

B  Meeting Space Contracts

C  Group Lodging Contracts

D  Franchise-related Contracts

E  Management Operating Contracts

A  FALSE

B  TRUE

A  FALSE

B  TRUE

A  Agreement in writing

B  all the above

C  Acceptance of partial or full payment

D  Verbal or nonverbal agreement

E  Acceptance of a deposit

A  all the above

B  Acceptance

C  Consideration

D  Offer

A  FALSE

B  TRUE

A  FALSE

B  TRUE

A  Management Contract

B  Condo Hotels/Shared Services

C  Owner-Operator

D  Franchise

E  all the above

A  Limited Partnership

B  Sole Proprietorship

C  all the above

D  C Corporation

E  General Partnership

A  TRUE

B  FALSE

A  FALSE

B  TRUE

A  Internal Revenue Service (IRS)

B  Occupational Safety and Health Administration (OSHA)

C  Equal Employment Opportunity Commission (EEOC)

D  Food and Drug Administration (FDA)

E  all the above

A  Be aware of the major entities responsible for regulation.

B  Be aware of the process for responding to an inquiry or complaint from a regulatory entity.

C  Understand how to resolve conflicting regulations.

D  Stay abreast of changes in regulations that affect your segment of the industry.

E  all the above

A  TRUE

B  FALSE

A  TRUE

B  FALSE

A  Would I publicize my action?

B  Am I being honest?

C  all the above

D  Is it fair?

E  Is it legal?

A  Laws have an evolutionary nature, based on changes in society.

B  all the above

C  It is possible to use the philosophy of preventive management to manage the legal environment and minimize the chances of litigation.

D  Laws have historical origins, and the manager needs to know them