CMP Exam CORRECT & VERIFIED ANSWERS (HIGHLY RECOMMEDED)

CMP Exam What is the 2 x 8 rule? correct answerThe first row of audience should be 2 times the height of the screen, the last row should be no more than 8 times the height of the screen. What is an ex-gratia payment? correct answerA bribe to customs What are some accomodations you can offer to a vision-impaired attendee correct answerTactile Maps Interpreter Alternative Media (Braille, Large Print, Audiotape) Who is responsible for ensuring ADA accesibility correct answerOrganizer is responsible for program Venue is responsible for venue What are the two methods for building a budget? correct answer1. Zero based: no history, based on potential income/expenses 2. Incremental: based on past and potential figures Name and define the three types of event costs correct answerVariable: based on # of attendees Fixed: Independent of # of attendees Indirect: Organizational expenses related to event What is the formula for setting registration costs based on a fixed number of attendees? correct answerDivide fixed costs by number of attendees, then add variable cost per attendee. What is the formula for the number of attendees needed to break even? correct answerSubtract variable cost per attendee from registration fee, then divide fixed costs by that number. How do you add a fixed profit when doing an event income analysis? correct answerAdd the amount of profit to fixed costs before calculating registration fee or number of attendees needed to break even. How do you add a % profit when doing an event income analysis? correct answerMultiply the registration fee or number of registrants by the % of profit needed. What is buying forward? correct answerExhanging the needed amount on money to the necessary currency at a known exchange rate to avoid negative shifts What are the two main tax issues