Written audit reports developed by district/regional staff of a contract management company are normally sent to the sponsoring organization:
A) weekly. B) at least twice-monthly.
C) annually. D) at least quarterly.
The only cash flows relevant to the valuation of a hospitality project are the incremental cash flows actually generated by the project.
Indicate whether the statement is true or false
Which of the following types of insurance is not normally included in the terms of the management contract?
A) life insurance B) comprehensive crime insurance
C) business interruption insurance D) worker's compensation insurance
Which of the following is sent from the contract management company to the organization desiring foodservices?
A) Proposal response B) Foodservices specification
C) Request for proposal D) All the above
Cash flows should be attributed to a project when they are earned, regardless of when they are actually paid.
Indicate whether the statement is true or false
Elementary and secondary schools may participate or not in the National School Lunch Program. Participating allows the school to
A) control fat intake
B) have more variety in food
C) create better diets
D) get better food
E) save money when federally funded
Image is one of two important criteria for effective positioning. The other is:
A) Having a product that is both salient and determinant
B) A promised benefit
C) Tangibility of the product
D) An objective positioning statement
Which of the following is not a service provided by a management company during the pre-opening period?
A) staff organization B) five year projection of cash flows
C) advertising and promotion D) FF&E assistance
Which of the following statements is true about contract management companies?
A) Non-management staff members may be employed by the contract management company.
B) Managers are employed by the contract management company.
C) Non-management personnel may be employees of the sponsoring organization.
D) A and B above
E) All the above
Schools that participate in the National School Lunch Program are able to take advantage of
A) a direct line of contact and reduced costs with fast food chains
B) federal funding in the amount of about 2.72 per meal per student
C) higher profits for each school that participates and highly nutritious foods
D) a higher quality food product, similar to that served in restaurants
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