Why is it important to review a critical path regularly? To evaluate the process for future business plans. To determine committee time lines and critical dates. To communicate variances with co-ordinators. To update progress and allow for necessary adjustments. Correct! Wrong! Choose the best example of an effective measure an event manager could include in a system to monitor objectives, tasks and duties. Accounting controls. Cost-benefit analysis. Status reporting. Evaluation checklist. Correct! Wrong! Which one of the following steps should an event manager take to ensure event policies and procedures are effective? Conduct research into policy development. Forward a policy summary to suppliers. Communicate them to staff and volunteers. Distribute them to the media. Correct! Wrong! Choose the best definition of a ‘budget’. Strategic plan for committee operations. Record of fixed and variable costs. Overview of current assets, liabilities and equities. Financial plan covering a specified length of time. Correct! Wrong! What is the main purpose of reviewing a budget? To fulfill audit requirements. To complete a chart of accounts. To verify cash flow. To identify and analyze variances. Correct! Wrong! Which one of the following accurately defines ‘bank reconciliation’? Document that lists income, expenditures and budget. Chronological listing of expected revenue and expenses. Analysis of bank expenses that vary with level of activity. Balance between bank statement and actual cash account. Correct! Wrong! An example of establishing a financial control for procurements would be to standardize which one of the following processes? Audit. Approval. Quotation. Cash flow. Correct! Wrong! When applying for a grant, what two items should be submitted with the application form? Letter of recommendation and program plan. Financial statement and production schedule. Business plan and budgets. Marketing and contingency plans. Correct! Wrong! What are cash flow projections used for? To determine financial obligations at a given time. To identify potential long-term growth. To balance cash account with the bank statement. To evaluate effectiveness of retail sales. Correct! Wrong! What document should be produced when finalizing an event program? Event brochures. Detailed agenda. Action plan. Site plan. Correct! Wrong! Which of the following requirements is common to planning both new and established events? Perform feasibility study. Review existing theme and logo. Research target markets. Develop budgets. Correct! Wrong! What task should an event manager perform when selecting an event site? Conduct a feasibility study. Develop a detailed site plan. Take a tour of potential sites. Develop a production budget. Correct! Wrong! What should an event manager consider when developing a food and beverage operations plan? Event decor. Advertising media. Estimated attendance. Public relations. Correct! Wrong! What is the meaning of “accreditation”? Certification of event professionals. System to control event access. Recognition of event at national level. Legal process for approval. Correct! Wrong! Why is an event logo included in the marketing plan for an event? It establishes credibility and builds awareness for the event. It provides recognition and impacts the event promotion. It is incorporated into every aspect of the marketing activities. It affects the pricing strategy by demonstrating the event’s value. Correct! Wrong! What part of developing a marketing plan requires an event manager to ask questions about age, gender, income, occupation, family structure, and recreation likes and dislikes? Creating a strategy for the “people” aspect of marketing. Designing the graphic identification of an event. Conducting a target market analysis. Developing plans for event evaluation. Correct! Wrong! What details concerning a logo should be included in the marketing material specifications? Sponsor obligations. Placement. Cost. Distribution. Correct! Wrong! Public relations can be defined as: Activities that bring the event before the public without direct costs. Series of activities used to determine customer needs or wants. Any paid form of non-personal presentation and promotion of an event. Activities undertaken to maintain or improve the image of an event. Correct! Wrong! What kind of marketing activity would involve organizing a reception for VIPs? Developing a hospitality program. Co-ordinating a media conference. Implementing a publicity strategy. Managing the event sponsor process. Correct! Wrong! What does an event manager need to build into the advertising strategy to help determine its overall impact? Cost-benefit analysis. Method of evaluation. Time for market research. Monitoring system. Correct! Wrong! What type of plan should an event manager develop to deal with unforeseen circumstances at an event? Security. Communications. Contingency. Media relations. Correct! Wrong! What must be done after implementing a human resource plan? Create a chart of accounts. Develop an operations plan. Establish a mission statement. Evaluate strategies. Correct! Wrong!