Professional Practice Questions And Answers

What answer best defines a Flat Fee compensation type? - Designer's compensation is the sum for all of the designer's services on the job (the client pays trade sources, etc. directly or pays the designer at cost) Sales tax is collected by the designer and paid to the Federal Government T/F - False When is the "retail basis" for determining fees and compensation the most appropriate for - residential design What answer best defines a Percentage Off Retail fee compensation type? - Designer's compensation is the manufacturer's list price less a certain percentage What answer best defines a Retail Basis fee compensation type? - Designer's compensation is the billing for merchandise provided to a client at the list price suggested by trade sources The net price of an item is always 25% off the retail price T/F - False What answer best defines an Hourly Rate and Per-diem fee compensation type? - Designer's compensation is the result of charging by the hour or the day There is one (1) method for determining fees, which is right for every firm or for every job in that firm T/F - False To arrive at a fee or compensation for all projects, a design firm must have a grasp of - All of these -The scope of services for each particular job -The operation, overhead, and income requirements -How much marketing, promotion, and publishing wanted from the job