SPORTS MAN 1101 - Which entity controls the money

Question 1 (5 points)

Which entity controls the money from ticket sales between the time the tickets are sold and settlement the night of the event?

Question 1 options:

Booking agent

Performer

Promoter

Ticket office at the venue

None of the above

Save?Question 2 (5 points)

One of the interesting dynamics about event bookings is that the venue normally does not have a contract with the performer.

Question 2 options:

True

False

SaveQuestion 3 (5 points)

Venue date protection policies:

Question 3 options:

Allow a promoter to hold a date unless challenged.

Allow the venue to schedule "dark days" for building maintenance, employee holidays, etc.

Are necessary in a venue with a prime tenant to prevent double-booking.

Provide scheduling criteria requiring a reasonable degree of separation between similar attractions.

Protect NBA facilities during a lockout or strike.

SaveQuestion 4 (5 points)

What are the two primary considerations when determining the duration of an event advertising campaign?

Question 4 options:

Budget and average attendance at this venue's events

Budget and event sales history

Budget and number of personnel in the marketing department

Budget and target audience

None of the above

SaveQuestion 5 (5 points)

For most venues, the largest expense category is personnel.

Question 5 options:

True

False

SaveQuestion 6 (5 points)

A challenge may be issued against a tentative hold or a confirmed hold.

Question 6 options:

True

False

SaveQuestion 7 (5 points)

Which of the following categories does not fit in the definition of commercial rights?

Question 7 options:

Advertising signs

Broadcasting rights

Venue sponsorships

Naming rights

Pouring rights

SaveQuestion 8 (5 points)

All of the following are arguments used to support the construction and financing of public assembly venues, except:

Question 8 options:

The venues are an asset necessary to remain competitive with rival cities and towns.

The venues are necessary to attract or retain professional sports franchises, major touring concerts, conventions, meetings, and trade shows.

The venues always generate a great deal of revenue for the owner.

The venues represent an opportunity to enhance the community's quality of life.

The venues help attract businesses that can stimulate the local economy.

SaveQuestion 9 (5 points)

Venue ownership by non-profit organizations is more likely to occur in multi-purpose arenas.

Question 9 options:

True

False

SaveQuestion 10 (5 points)

A venue's ancillary revenue sources are insignificant and should not require much attention by management.

Question 10 options:

True

False

SaveQuestion 11 (5 points)

In publicly owned venues with multiple jurisdictional governing bodies, each constituent jurisdictional governing body will have a proportional number of appointments to an authority or commission.

Question 11 options:

True

False

SaveQuestion 12 (5 points)

__________ refers to balances owed to others for goods, supplies, or services purchased by the venue.

Question 12 options:

Accounts payable

Accounts receivable

Ancillary revenues

Ancillary expenses

None of the above

SaveQuestion 13 (5 points)

There are generally two different types of marketing within the public assembly venue management industry, and they are:

Question 13 options:

Event marketing and group sales

Event and venue marketing

Artist and agent marketing

Client and customer marketing

Radio and television marketing

SaveQuestion 14 (5 points)

Audits should always be scheduled and announced to make sure employees are not surprised.

Question 14 options:

True

False

SaveQuestion 15 (5 points)

Date protection policies refer to procedures put in place to ensure the venue does not book too many events within a specific time frame.

Question 15 options:

True

False

SaveQuestion 16 (5 points)

One of the financial systems used to track the significant amount of supplies and equipment used in a public assembly venue on a day-to-day and event-to-event basis is:

Question 16 options:

Asset management

Cost accounting

Inventory control

Receipt verification

Spot audits

SaveQuestion 17 (5 points)

All of the following are benefits of a prime tenant, EXCEPT:

Question 17 options:

Guaranteed number of events each year

Enhances the value of certain commercial rights

Generates media coverage and exposure for the venue

Provides for increased flexibility of the venue's event calendar

Reliable driver of ancillary event revenues

SaveQuestion 18 (5 points)

A venue's two most important commodities are time and space.

Question 18 options:

True

False

SaveQuestion 19 (5 points)

It is unlikely that a public assembly venue can be financially successful if its manager is required to adhere to all typical governmental policies and procedures.

Question 19 options:

True

False

SaveQuestion 20 (5 points)

Which of the following determines how a particular venue is organized (i.e., management and structure)?

Question 20 options:

Mission

Ownership

Purpose

Venue type

All of the above

SaveQuestion 21 (5 points)

The venue owner has to determine if the return for the expenditure necessary to contract private management is cost effective in terms of dollars, programming, and fulfilling the venue's pubic purpose.

Question 21 options:

True

False

SaveQuestion 22 (5 points)

Most public assembly venues are built with private money.

Question 22 options:

True

False

SaveQuestion 23 (5 points)

The first domed stadium was the ____________, which opened in 1965.

Question 23 options:

Georgia Dome

Houston Astrodome

New Orleans Superdome

Toronto Sky Dome

Metrodome

SaveQuestion 24 (5 points)

Which of the following is a key skill necessary for the successful venue manager?

Question 24 options:

Ability to negotiate

Team-building abilities

Entrepreneurial instincts

Ability to communicate

All of the above

SaveQuestion 25 (5 points)

The financial process a venue manager completes with the promoter or tenant to calculate and finalize the ticket revenue and event expenses after the event is referred to as the:

Question 25 options:

Audit

Closing

Done deal

Financial summary

Settlement

SaveQuestion 26 (5 points)

The most common type of ownership/management structure for public assembly venues is:

Question 26 options:

Private ownership/private sports team

Public ownership/private management

Public ownership/public management

Private ownership/non-profit management

None of the above

SaveQuestion 27 (5 points)

An agreement for a private management company to manage a venue usually includes the potential for earning incentive income if the company exceeds pre-determined financial and operational benchmarks.

Question 27 options:

True

False

SaveQuestion 28 (5 points)

At which point in the booking process should the venue manager place an event on sale?

Question 28 options:

Confirmed

Contracted

Qualified

Tentative

None of the above

SaveQuestion 29 (5 points)

Publicity is paid, non-personal communication through various media by an organization identified in the message with the hope of informing or persuading members of a particular audience.

Question 29 options:

True

False

SaveQuestion 30 (5 points)

Event promoters always make a profit when booking a concert in a large arena.

Question 30 options:

True

False

SaveQuestion 31 (5 points)

Auditoriums and theaters are considered similar types of public assembly venues with similar types of events.

Question 31 options:

True

False

SaveQuestion 32 (5 points)

The purpose of a venue marketing plan is to guide the establishment of the venue's market position to achieve stated objectives in concert with the venue's purpose and mission statements.

Question 32 options:

True

False

SaveQuestion 33 (5 points)

One of the most important aspects of the booking process is determining the viability of an event, which is referred to as:

Question 33 options:

Quantifying the event

Qualifying the event

Qualifying the agent

Quantifying the promoter

Qualifying the promoter

SaveQuestion 34 (5 points)

RFP stands for:

Question 34 options:

Requirements for promoters

Request for parking

Rider for production

Revenue from premiums

Request for proposals

SaveQuestion 35 (5 points)

Public perception is not an important factor when determining the level of success of a public assembly venue.

Question 35 options:

True

False

SaveQuestion 36 (5 points)

When negotiating a contract with a private management company to handle the day-to-day operations of a venue, the venue owner must ensure they retain control of all major areas of responsibility including at least approval of all the following, except:

Question 36 options:

Annual operating and capital budgets

Booking policies and rental rates

Co-promotion and/or in-house promotions that involve financial risks

Event staff uniforms

Venue manager candidates

SaveQuestion 37 (5 points)

_______________ is the assignment of costs to one or more public assembly venue expense categories. The primary purpose is to identify the cost incurred by each cost center in the production of that product or service.

Question 37 options:

Cost accounting

Cost allocation

External audits

Incremental budgeting

Internal audits

SaveQuestion 38 (5 points)

Which of the following venues could host a musical concert?

Question 38 options:

Amphitheater

Arena

Stadium

Theater

All of the above

SaveQuestion 39 (5 points)

The ____________ provides a basis for the governing body when making policy decisions regarding booking priorities, tenant oversight, reporting, and budget development.

Question 39 options:

Capital improvements

Mission statement

Operating budget

Organizational chart

None of the above

SaveQuestion 40 (5 points)

What is the acronym for the set of requirements designed to ensure that all companies that process, store or transmit credit card information maintain a secure environment?

Question 40 options:

GAAP

HVAC

IATSE

PCI DSS

None of the above