Take this brief quiz to gauge your readiness
Q1. What are the APEX/ASTM, ISO 20121 and GRI IOSS?
The APEX/ASTM, ISO 20121 and GRI IOSS are all acronyms for major sustainable events standards and protocols. (Domain A: Strategic Planning - CIC 9th, page 14)
Q2. How is the ROI of an event calculated?
ROI (%) = Net Monetary Benefits/Meeting Costs x 100. (Domain A: Strategic Planning - CIC 9th, page 25)
Q3. Which of the following is one of the five elements of a legal contract?
Acceptance is one of the five elements of a legal contract. (Domain B: Project Management - PMM 6th, page 138)
Q4. A circumstance in which a contractual obligation is excused due to a factor not within the control of either party that makes performance impossible or commercially impracticable is called a:
The correct answer is Force Majeure is a circumstance in which a contractual obligation is excused due to a factor within the control of either party that makes performance impossible or commercially impracticable. (Domain B: Project Management - CIC 9th, page 53)
Q5. What coverage does an umbrella policy provide for the host origination of a meeting or event?
An umbrella policy provides insurance to cover gaps in coverage under the primary insurance policies for the host origination of a meeting or event. (Domain C: Risk Management - CIC 9th, page 69)
Q6. Income that is recognized when it is earned and expenses when they occur is:
Accrual based accounting is income that is recognized at the time it is incurred (gained or lost), instead of when money changes hands. (Domain D: Financial Management - CIC 9th, Page 103 and PMM 6th, Page 79)
Q7. In order to calculate the registration fee required to make a $5,000 profit on the meeting, you must:
To make $5,000 in profit on a meeting you must add $5,000 to the fixed costs for the meeting and then calculate a break-even cost from this amount. (Domain D: Financial Management - CIC 9th, Page 98-99 & PMM 6th, Page 81)
Q8. One of the accounting systems most commonly used for meetings is:
Accrual accounting is one of the most common accounting systems used for meetings. Accrual accounting records items as they relate to net worth (assets minus liabilities) when they are incurred, regardless of whether cash has changed hands. (Domain D: Financial Management - CIC 9th, Page 103 and PMM 6th, Page 79)
Q9. The level of value-added taxes (VAT’s) is typically what amount?
The correct answer is Between 6 and 21 percent. (Domain H: Site Management - CIC 9th, pages 96/240)
Q10. When planning a reception with a standard bar and light hors d’oeuvres, how much space minimum space is needed?
The minimum space need is 9 to 10 sq. ft. a person for a reception with a standard bar and light hors d’oeuvres. (Domain G: Meeting or Event Design - CIC 9th, page 183 & PMM 6th)
