Question 1

A major issue for event organisers is to know:

Accepted Answer

A) approximate number of employees. 
B) the suppliers' contact details. 
C) how many people will attend. 
D) the budget for entertainment. 
A) approximate number of employees. 
B) the suppliers' contact details. 
C) how many people will attend. 
D) the budget for entertainment. C

Question 2

A budget helps to:

Accepted Answer

A) regulate the operation of an event over a given period of time. 
B) understand hidden expenses. 
C) structure a list of expenses. 
D) divide fairly income and outcome for all tasks. 
A) regulate the operation of an event over a given period of time. 
B) understand hidden expenses. 
C) structure a list of expenses. 
D) divide fairly income and outcome for all tasks. A

Question 3

If a department has a budget, normally the authority to spend it has to be:

Accepted Answer

A) the head of department. 
B) the CEO. 
C) the customers. 
D) the financial manager. 
A) the head of department. 
B) the CEO. 
C) the customers. 
D) the financial manager. A

Question 4

It is important to remember that a large number of events have a predetermined budget because:

Accepted Answer

A) the event is not intended to raise money. 
B) the event has small number of attendees. 
C) it is much easier. 
D) many managers prefer this approach. 
A) the event is not intended to raise money. 
B) the event has small number of attendees. 
C) it is much easier. 
D) many managers prefer this approach.

Question 5

The issue of ticket prices is:

Accepted Answer

A) an irrelevant distraction. 
B) an occasional source of debate. 
C) an occasional distraction. 
D) a frequent source of heated debate. 
A) an irrelevant distraction. 
B) an occasional source of debate. 
C) an occasional distraction. 
D) a frequent source of heated debate.

Question 6

A budget is a financial guide; it should result in:

Accepted Answer

A) better coordination between the organisers of the event. 
B) spending less. 
C) building better relationships with suppliers in the market. 
D) finding better quality of volunteers. 
A) better coordination between the organisers of the event. 
B) spending less. 
C) building better relationships with suppliers in the market. 
D) finding better quality of volunteers.

Question 7

Fundraising activities might be:

Accepted Answer

A) a requirement. 
B) an opportunity to meet volunteers. 
C) an alternative income for an event. 
D) difficult to manage. 
A) a requirement. 
B) an opportunity to meet volunteers. 
C) an alternative income for an event. 
D) difficult to manage.

Question 8

Good financial management is important to an event:

Accepted Answer

A) even those planned as not-for profit. 
B) only for those planned to make a profit. 
C) to stay within the law. 
D) to keep stakeholders happy. 
A) even those planned as not-for profit. 
B) only for those planned to make a profit. 
C) to stay within the law. 
D) to keep stakeholders happy.

Question 9

Budgeting is a method of controlling expenses and costs because:

Accepted Answer

A) it helps to establish clear lines of who can or cannot spend money. 
B) it helps to clarify certain amounts. 
C) managers find it more convenient. 
D) it helps to increase profits. 
A) it helps to establish clear lines of who can or cannot spend money. 
B) it helps to clarify certain amounts. 
C) managers find it more convenient. 
D) it helps to increase profits.

Question 10

Some costs are fixed, for example the price of a marquee is the same:

Accepted Answer

A) whatever the number of people that attend. 
B) after negotiations. 
C) whatever it is being used for. 
D) whatever the weather. 
A) whatever the number of people that attend. 
B) after negotiations. 
C) whatever it is being used for. 
D) whatever the weather.

Question 11

Ignoring the objectives of the event when setting the budget is:

Accepted Answer

A) a possible opportunity to change objectives the last minute. 
B) a possible opportunity to invest time in other efforts. 
C) one of the common budgeting mistakes. 
D) a strategic plan. 
A) a possible opportunity to change objectives the last minute. 
B) a possible opportunity to invest time in other efforts. 
C) one of the common budgeting mistakes. 
D) a strategic plan.

Question 12

Contribution-pricing is when:

Accepted Answer

A) guests pay what they can. 
B) fixed costs are covered and contribute to variable costs. 
C) the price covers variable costs and contributes to fixed costs. 
D) guests pay what they feel the event is worth. 
A) guests pay what they can. 
B) fixed costs are covered and contribute to variable costs. 
C) the price covers variable costs and contributes to fixed costs. 
D) guests pay what they feel the event is worth.

Question 13

If the event objective is quality rather than profitability, then:

Accepted Answer

A) over-concentration on costs might well damage the success of the event. 
B) a sponsor is needed. 
C) the organiser should create a profit-focus team. 
D) the organiser should create a quality-focus team. 
A) over-concentration on costs might well damage the success of the event. 
B) a sponsor is needed. 
C) the organiser should create a profit-focus team. 
D) the organiser should create a quality-focus team.

Question 14

One key to the effective financial management of events is:

Accepted Answer

A) the appointment of someone from external organisation. 
B) to increase training. 
C) more funding. 
D) the appointment of someone responsible for it. 
A) the appointment of someone from external organisation. 
B) to increase training. 
C) more funding. 
D) the appointment of someone responsible for it.

Question 15

The event coordinator manages an event on behalf of a:

Accepted Answer

A) manager. 
B) head of a financial department. 
C) client. 
D) local government. 
A) manager. 
B) head of a financial department. 
C) client. 
D) local government.

Question 16

In the case of different types of events there might be:

Accepted Answer

A) different pricing of tickets. 
B) similar pricing of tickets. 
C) exactly same pricing of tickets. 
D) some free tickets. 
A) different pricing of tickets. 
B) similar pricing of tickets. 
C) exactly same pricing of tickets. 
D) some free tickets.

Question 17

Where there is more than one sponsor, respective areas of promotion are covered in:

Accepted Answer

A) the sponsorship agreement. 
B) the sponsorship plan. 
C) the sponsorship programme. 
D) the sponsorship bid. 
A) the sponsorship agreement. 
B) the sponsorship plan. 
C) the sponsorship programme. 
D) the sponsorship bid.

Question 18

The event-coordinator is the individual who:

Accepted Answer

A) manages the staff on behalf of the client. 
B) manages the client on behalf of the event. 
C) manages an event on behalf of the client. 
D) manages the staff on behalf of the event. 
A) manages the staff on behalf of the client. 
B) manages the client on behalf of the event. 
C) manages an event on behalf of the client. 
D) manages the staff on behalf of the event.

Question 19

The financial objective in an organisational event could be:

Accepted Answer

A) to keep within the budgeted cost. 
B) to spend the most. 
C) to make profits. 
D) maximum profit. 
A) to keep within the budgeted cost. 
B) to spend the most. 
C) to make profits. 
D) maximum profit.

Question 20

The financial objective in a village cultural festival could be:

Accepted Answer

A) to make enough money to break even. 
B) to make over 10,000 pounds. 
C) to save most of the money. 
D) to make maximum profit. 
A) to make enough money to break even. 
B) to make over 10,000 pounds. 
C) to save most of the money. 
D) to make maximum profit.

A major issue for event organisers is to know:

A budget helps to:

If a department has a budget, normally the authority to spend it has to be:

It is important to remember that a large number of events have a predetermined budget because:

The issue of ticket prices is:

A budget is a financial guide; it should result in:

Fundraising activities might be:

Good financial management is important to an event:

Budgeting is a method of controlling expenses and costs because:

Some costs are fixed, for example the price of a marquee is the same:

Ignoring the objectives of the event when setting the budget is:

Contribution-pricing is when:

If the event objective is quality rather than profitability, then:

One key to the effective financial management of events is:

The event coordinator manages an event on behalf of a:

In the case of different types of events there might be:

Where there is more than one sponsor, respective areas of promotion are covered in:

The event-coordinator is the individual who:

The financial objective in an organisational event could be:

The financial objective in a village cultural festival could be:

An Introduction to Events

The Market Demand for Events

The Events Business: Supply and Suppliers

Social, Economic, Political and Developmental Implications

Making a Start and Planning the Event

Event Logistics and Supplies

Marketing and Public Relations for Events

Risk Management and Legalities

Event Project Management and Set-Up Issues

The Organisation Manager and the Team: During the Event

Close-Down, Evaluation and Legacies

Filters

Exam 6: Financial Management and the Budget

A major issue for event organisers is to know:

A budget helps to:

If a department has a budget, normally the authority to spend it has to be:

It is important to remember that a large number of events have a predetermined budget because:

The issue of ticket prices is:

A budget is a financial guide; it should result in:

Fundraising activities might be:

Good financial management is important to an event:

Budgeting is a method of controlling expenses and costs because:

Some costs are fixed, for example the price of a marquee is the same:

Ignoring the objectives of the event when setting the budget is:

Contribution-pricing is when:

If the event objective is quality rather than profitability, then:

One key to the effective financial management of events is:

The event coordinator manages an event on behalf of a:

In the case of different types of events there might be:

Where there is more than one sponsor, respective areas of promotion are covered in:

The event-coordinator is the individual who:

The financial objective in an organisational event could be:

The financial objective in a village cultural festival could be:

An Introduction to Events

The Market Demand for Events

The Events Business: Supply and Suppliers

Social, Economic, Political and Developmental Implications

Making a Start and Planning the Event

Event Logistics and Supplies

Marketing and Public Relations for Events

Risk Management and Legalities

Event Project Management and Set-Up Issues

The Organisation Manager and the Team: During the Event

Close-Down, Evaluation and Legacies

Filters