CERTIFIED MEETING PROFESSIONAL UPDATED
COMPREHENSIVE EXAM QUESTIONS AND ANSWERS
SURE A+
✔✔Continuing education - ✔✔Structured educational and training experiences for
personal or professional development.
✔✔Continuing Education Unit (CEU) - ✔✔CEU. Requirement of many professional
groups by which members must certify participation in formal educational programs
designed to maintain their level of ability beyond their original certification date. CEUs
are non-academic credit. One CEU is awarded for each 10 contact hours in an
accredited program.
✔✔Certified Association Executive (CAE) - ✔✔Certified Association Executive.
✔✔Certificate in Meeting Management (CMM) - ✔✔Certificate in Meeting Management.
✔✔Certified Meeting Professional (CMP) - ✔✔1) Certified Meeting Professional. 2)
Complete Meeting Package at conference centers; includes lodging, all food and
beverage, support services, including audio visual equipment, room rental, etc.
,✔✔Certified Professional Catering Executive (CPCE) - ✔✔Certified Professional
Catering Executive. A certification program offered by the National Association of
Catering Executives (NACE).
✔✔Certified Special Event Professional (CSEP) - ✔✔Certified Special Event
Professional; an earned designation from the International Special Events Society
(ISES).
✔✔Continuing Legal Education (CLE) - ✔✔Continuning education requirements for
legal professionals are adminstered by the American Bar Association (ABA).
✔✔Continuing Medical Education (CME) - ✔✔Organizations offering this type of
continuing education credits are accredited by the Accreditation Council for Continuing
Medical Education (ACCME).
✔✔Internatinoal Association for Continuing Education and Training (IACET) -
✔✔International Association for Continuing Education and Training.
✔✔Lecture - ✔✔Informative and instructional speech.
✔✔Lifelong learning - ✔✔An ongoing process in which an individual actively seeks to
understand and contribute to change.
✔✔Mandatory Continuing Legal Education (MCLE) - ✔✔Mandatory continuning
education requirements for legal professionals are adminstered by the American Bar
Association (ABA).
✔✔Needs assessment - ✔✔A needs assessment is an essential setp in ensuring that
educational offerings are relevant to attendees. The results of post-event evaluations
can be as valuable as a needs assessment.
✔✔Break-even point - ✔✔The point at which revenues are equal to expenses.
✔✔Cash flow - ✔✔The transfer of monies into and out of an enterprise.
✔✔Fixed costs - ✔✔The day-to-day cost of doing business that is pre-committed, such
as salaries, insurance, lease expenses, utilities, etc.
✔✔Incremental budgeting - ✔✔Building an event budet by analyzing both the projected
and actual figures from the previous year's budget.
✔✔Indirect costs - ✔✔Also called overhead or administrative costs, these are expenses
not directly related to the event. They can include salaries, rent, and building and
equipment maintenance.
,✔✔Variable costs - ✔✔Expenses that vary based upon various factors, such as the
number of attendees .
✔✔Zero-based budgeting - ✔✔Building an event budget on estimates of potential
income and likely expenses because there is no financial history from prior events
available to use.
✔✔Accrual accounting - ✔✔1) An accounting method that enters income and expenses
into the books at the time of contract versus when payment is received or expenses
incurred (cash accounting). 2) A system in which revenue and expenses are accounted
for as soon as they are committed.
✔✔Advance deposit - ✔✔Amount of money paid to secure a room, facility or service in
advance.
✔✔Audiovisual - ✔✔A/V. Equipment, materials, and teaching aids used in sound and
visual presentations, such as television monitors, video, sound equipment, etc.
✔✔Balance sheet - ✔✔A statement that indicates overall financial status by subtracting
expenses from income.
✔✔Billing instructions - ✔✔Notice as to how charges for an event should be handled
and to whom invoices should be addressed.
✔✔Budget - ✔✔A statement of estimated revenues and expenditures for a specified
period of time; divided into subject categories and arranged by principal areas of
revenue and expense. See BUDGET CHART. See Also CASH FLOW CHART,
PHASED BUDGET.
✔✔Cash accounting - ✔✔A system in which revenue and expenses are counted as
they are actually received.
✔✔Chart of accounts - ✔✔A detailed list of the individual line items that make up the
revenue and expense categories in a budget. A numbering system used to identify
every line item in a budget, so income and expenses are posted to the correct accounts.
✔✔Chief Financial Officer (CFO) - ✔✔CFO. Executive responsible for financial affairs of
an organization.
✔✔Cost center - ✔✔An account (usually a number) to which expenses for a function or
activity are charged.
, ✔✔Direct billing - ✔✔Accounts receivable made available to individuals or firms with
established credit.
✔✔Income statement - ✔✔A statement of revenues and expenses. Also known as a
profit & loss statement.
✔✔Master account - ✔✔A record of transactions during an event where the resulting
balance is paid directly by the group. May include room, tax, incidentals, food and
beverage, audiovisual equipment, decor, etc. Also Called MASTER BILL.
✔✔Net worth - ✔✔Assets minus liabilities.
✔✔Paid-out - ✔✔In-house facility form authorizing cash withdrawal to be charged to
master account or individual guest.
✔✔Acceptance - ✔✔A requirement for entering into a binding contract. If a contract
proposal (offer) is made, it is accepted if the offeree signs the offer as submitted. If the
offeree makes any changes to the offer before signing, it is a counter offer, not
acceptance.
✔✔Act of God - ✔✔An extraordinary natural event such as extreme weather, flood,
hurricanes, tornadoes, earthquake or similar natural disaster that cannot be reasonably
foreseen or prevented over which a contracting party has no reasonable control, making
performance of the contract illegal, impracticable or impossible, thus the parties have no
legal responsibility to continue performance of the contract. See FORCE MAJEURE.
✔✔Alternative dispute resolution (ADR) - ✔✔An alternative procedure that can be
specified in contracts instead of going through the process of filing a complaint and
pursuing the claim in court.
✔✔Americans with Disabilities Act (ADA) - ✔✔Americans with Disabilities Act. U.S.
legislation passed in 1992 requiring public buildings (offices, hotels, restaurants, etc.) to
make adjustments meeting minimum standards to make their facilities accessible to
individuals with physical disabilities.
✔✔Arbitration - ✔✔Private dispute resolution process, often referred to as alternate
dispute resolution, in which the parties agree to submit their dispute to an impartial third
party for a decision. Depending on the type of arbitration, the arbitrator's decision may
or may not be binding. Several organizations, including the American Arbitration
Association and JAMS-Endispute, handle arbitration claims. Courts may require some
disputes be submitted to arbitration instead of or prior to the formal trial process.
✔✔Attrition clause - ✔✔Contract wording that outlines potential damages or fees that a
party may be required to pay in the event that it does not fulfill minimum commitments in
the contract.
COMPREHENSIVE EXAM QUESTIONS AND ANSWERS
SURE A+
✔✔Continuing education - ✔✔Structured educational and training experiences for
personal or professional development.
✔✔Continuing Education Unit (CEU) - ✔✔CEU. Requirement of many professional
groups by which members must certify participation in formal educational programs
designed to maintain their level of ability beyond their original certification date. CEUs
are non-academic credit. One CEU is awarded for each 10 contact hours in an
accredited program.
✔✔Certified Association Executive (CAE) - ✔✔Certified Association Executive.
✔✔Certificate in Meeting Management (CMM) - ✔✔Certificate in Meeting Management.
✔✔Certified Meeting Professional (CMP) - ✔✔1) Certified Meeting Professional. 2)
Complete Meeting Package at conference centers; includes lodging, all food and
beverage, support services, including audio visual equipment, room rental, etc.
,✔✔Certified Professional Catering Executive (CPCE) - ✔✔Certified Professional
Catering Executive. A certification program offered by the National Association of
Catering Executives (NACE).
✔✔Certified Special Event Professional (CSEP) - ✔✔Certified Special Event
Professional; an earned designation from the International Special Events Society
(ISES).
✔✔Continuing Legal Education (CLE) - ✔✔Continuning education requirements for
legal professionals are adminstered by the American Bar Association (ABA).
✔✔Continuing Medical Education (CME) - ✔✔Organizations offering this type of
continuing education credits are accredited by the Accreditation Council for Continuing
Medical Education (ACCME).
✔✔Internatinoal Association for Continuing Education and Training (IACET) -
✔✔International Association for Continuing Education and Training.
✔✔Lecture - ✔✔Informative and instructional speech.
✔✔Lifelong learning - ✔✔An ongoing process in which an individual actively seeks to
understand and contribute to change.
✔✔Mandatory Continuing Legal Education (MCLE) - ✔✔Mandatory continuning
education requirements for legal professionals are adminstered by the American Bar
Association (ABA).
✔✔Needs assessment - ✔✔A needs assessment is an essential setp in ensuring that
educational offerings are relevant to attendees. The results of post-event evaluations
can be as valuable as a needs assessment.
✔✔Break-even point - ✔✔The point at which revenues are equal to expenses.
✔✔Cash flow - ✔✔The transfer of monies into and out of an enterprise.
✔✔Fixed costs - ✔✔The day-to-day cost of doing business that is pre-committed, such
as salaries, insurance, lease expenses, utilities, etc.
✔✔Incremental budgeting - ✔✔Building an event budet by analyzing both the projected
and actual figures from the previous year's budget.
✔✔Indirect costs - ✔✔Also called overhead or administrative costs, these are expenses
not directly related to the event. They can include salaries, rent, and building and
equipment maintenance.
,✔✔Variable costs - ✔✔Expenses that vary based upon various factors, such as the
number of attendees .
✔✔Zero-based budgeting - ✔✔Building an event budget on estimates of potential
income and likely expenses because there is no financial history from prior events
available to use.
✔✔Accrual accounting - ✔✔1) An accounting method that enters income and expenses
into the books at the time of contract versus when payment is received or expenses
incurred (cash accounting). 2) A system in which revenue and expenses are accounted
for as soon as they are committed.
✔✔Advance deposit - ✔✔Amount of money paid to secure a room, facility or service in
advance.
✔✔Audiovisual - ✔✔A/V. Equipment, materials, and teaching aids used in sound and
visual presentations, such as television monitors, video, sound equipment, etc.
✔✔Balance sheet - ✔✔A statement that indicates overall financial status by subtracting
expenses from income.
✔✔Billing instructions - ✔✔Notice as to how charges for an event should be handled
and to whom invoices should be addressed.
✔✔Budget - ✔✔A statement of estimated revenues and expenditures for a specified
period of time; divided into subject categories and arranged by principal areas of
revenue and expense. See BUDGET CHART. See Also CASH FLOW CHART,
PHASED BUDGET.
✔✔Cash accounting - ✔✔A system in which revenue and expenses are counted as
they are actually received.
✔✔Chart of accounts - ✔✔A detailed list of the individual line items that make up the
revenue and expense categories in a budget. A numbering system used to identify
every line item in a budget, so income and expenses are posted to the correct accounts.
✔✔Chief Financial Officer (CFO) - ✔✔CFO. Executive responsible for financial affairs of
an organization.
✔✔Cost center - ✔✔An account (usually a number) to which expenses for a function or
activity are charged.
, ✔✔Direct billing - ✔✔Accounts receivable made available to individuals or firms with
established credit.
✔✔Income statement - ✔✔A statement of revenues and expenses. Also known as a
profit & loss statement.
✔✔Master account - ✔✔A record of transactions during an event where the resulting
balance is paid directly by the group. May include room, tax, incidentals, food and
beverage, audiovisual equipment, decor, etc. Also Called MASTER BILL.
✔✔Net worth - ✔✔Assets minus liabilities.
✔✔Paid-out - ✔✔In-house facility form authorizing cash withdrawal to be charged to
master account or individual guest.
✔✔Acceptance - ✔✔A requirement for entering into a binding contract. If a contract
proposal (offer) is made, it is accepted if the offeree signs the offer as submitted. If the
offeree makes any changes to the offer before signing, it is a counter offer, not
acceptance.
✔✔Act of God - ✔✔An extraordinary natural event such as extreme weather, flood,
hurricanes, tornadoes, earthquake or similar natural disaster that cannot be reasonably
foreseen or prevented over which a contracting party has no reasonable control, making
performance of the contract illegal, impracticable or impossible, thus the parties have no
legal responsibility to continue performance of the contract. See FORCE MAJEURE.
✔✔Alternative dispute resolution (ADR) - ✔✔An alternative procedure that can be
specified in contracts instead of going through the process of filing a complaint and
pursuing the claim in court.
✔✔Americans with Disabilities Act (ADA) - ✔✔Americans with Disabilities Act. U.S.
legislation passed in 1992 requiring public buildings (offices, hotels, restaurants, etc.) to
make adjustments meeting minimum standards to make their facilities accessible to
individuals with physical disabilities.
✔✔Arbitration - ✔✔Private dispute resolution process, often referred to as alternate
dispute resolution, in which the parties agree to submit their dispute to an impartial third
party for a decision. Depending on the type of arbitration, the arbitrator's decision may
or may not be binding. Several organizations, including the American Arbitration
Association and JAMS-Endispute, handle arbitration claims. Courts may require some
disputes be submitted to arbitration instead of or prior to the formal trial process.
✔✔Attrition clause - ✔✔Contract wording that outlines potential damages or fees that a
party may be required to pay in the event that it does not fulfill minimum commitments in
the contract.
