Chapter 5 & 6 Quiz

Chapter 5 & 6 Quiz Question 1 One of the most important components of conference services contacts is the language used to establish and assign responsibility for the group ’ s _________.     Room Size   Master Bill   Food and Beverage Order   None of the above Question 2 Which of the following represents a fee that is ordinarily paid by the franchisee to the franchisor?     Franchise application fee   Earnings percentage or Royalty Fee   Advertising participation or Marketing Fee   All of the above   Question 3 Attrition in hospitality means ______.   The loss of previously estimated guest counts   The parties do not have a meeting of the minds   The contract is illegal and thus unenforceable   The scheduled function has relocated to another city   Question 4 A well-developed group lodging contact will include detailed language about a variety of items including how room rates will be calculated if the contract is signed prior to the establishment of the group ’ s final room rates.   True   False   Question 5 According to the law, franchisors must provide potential investors with a basic disclosure document and are required to guarantee a profit to the franchisee in the third year of the franchise operation.   True   False   Question 6 Which of the following terms is used when dealing with both real property and personal property?   Deed   Lease   FOB   UCC   Question 7 Which of the following legal documents would not be used by a lender to secure collateral for a loan to buy a restau- rant?   Mortgage