Timeshare – Final UPDATED Exam
Questions and CORRECT Answers
The main reasons the rental or resale value of any timeshare can vary are due to: - CORRECT
ANSWER- Its location, season, size, competition, age, and demand.
When bringing an individual into an organization, the human resource staff should determine
if the candidate's values are consistent with the organizations. The indoctrination of a new
employee into an organization should include: - CORRECT ANSWER- An in-depth
discussion of the organization's purpose, values, and goals.
Madsen Marketing Agency worked on a direct mail campaign for Buzz Development. The
developer told the marketing agency to promote a contest featuring twelve free Mercedes.
When the contest winner came to claim their cars, they found the Mercedes were actually
toys. Under the FTC prospect acquisition regulations: - CORRECT ANSWER- Buzz
Development and Madsen Marketing Agency can be held responsible for unfair or deceptive
practices.
Once an owners' association assumes control of the property, it may - CORRECT ANSWER-
Find and hire its own management team.
Ask the developer to remain as the property manager.
Contract with an independent property management firm.
During the trial close process, it is important for the salesperson to: - CORRECT ANSWER-
Summarize the prospect's perceived product benefits
Address objections that might exist
Summarize the prospect's dominant buying motive
The forms of legal design for a vacation ownership resort are: - CORRECT ANSWER- Club
membership, fee simple, right-to-use, and leasehold.
What can a sales manager do to cultivate the sales team? - CORRECT ANSWER-
Communicate expectations
Offer rewards and recognition
, Set goals
In a right-to-use resort without an association, the developer retains control over property
management: - CORRECT ANSWER- Indefinitely.
If the property budget does not set aside enough reserve funds to anticipate future furniture,
fixture, appliance repairs, and the repairs or improvements to the physical structures of the
buildings, the owners are likely to levy a __________ to pay for these items when such
expenses become necessary. - CORRECT ANSWER- Special assessment.
Which of the following is the biggest drawback in using a script during the sales process? -
CORRECT ANSWER- It limits the degree of flexibility on the salesperson's part in
presenting the vacation ownership product.
All disclosures required under the ARDA Code of Ethics must be: - CORRECT ANSWER-
Easily located, conspicuous, and readable
Early in the sales process, the most costly element in the marketing program is generally: -
CORRECT ANSWER- Lead generation
True or false, rental programs should be operated most importantly to offset annual
maintenance fees. - CORRECT ANSWER- True
How has social media changed public relations in the timeshare industry? - CORRECT
ANSWER- It allows negative or positive comments to be addressed quickly.
Allows companies to communicate with prospective customers
It can be used to obtain endorsements
The human resource function includes: - CORRECT ANSWER- Forecasting staffing needs.
Because owners generally do not live close to the resort, the resort general manager,
management company, or HOA Board usually must do which of the following in order to
ensure a quorum for a proper owners' association meeting: - CORRECT ANSWER- Solicit
owners' proxies and tally the returns.
Questions and CORRECT Answers
The main reasons the rental or resale value of any timeshare can vary are due to: - CORRECT
ANSWER- Its location, season, size, competition, age, and demand.
When bringing an individual into an organization, the human resource staff should determine
if the candidate's values are consistent with the organizations. The indoctrination of a new
employee into an organization should include: - CORRECT ANSWER- An in-depth
discussion of the organization's purpose, values, and goals.
Madsen Marketing Agency worked on a direct mail campaign for Buzz Development. The
developer told the marketing agency to promote a contest featuring twelve free Mercedes.
When the contest winner came to claim their cars, they found the Mercedes were actually
toys. Under the FTC prospect acquisition regulations: - CORRECT ANSWER- Buzz
Development and Madsen Marketing Agency can be held responsible for unfair or deceptive
practices.
Once an owners' association assumes control of the property, it may - CORRECT ANSWER-
Find and hire its own management team.
Ask the developer to remain as the property manager.
Contract with an independent property management firm.
During the trial close process, it is important for the salesperson to: - CORRECT ANSWER-
Summarize the prospect's perceived product benefits
Address objections that might exist
Summarize the prospect's dominant buying motive
The forms of legal design for a vacation ownership resort are: - CORRECT ANSWER- Club
membership, fee simple, right-to-use, and leasehold.
What can a sales manager do to cultivate the sales team? - CORRECT ANSWER-
Communicate expectations
Offer rewards and recognition
, Set goals
In a right-to-use resort without an association, the developer retains control over property
management: - CORRECT ANSWER- Indefinitely.
If the property budget does not set aside enough reserve funds to anticipate future furniture,
fixture, appliance repairs, and the repairs or improvements to the physical structures of the
buildings, the owners are likely to levy a __________ to pay for these items when such
expenses become necessary. - CORRECT ANSWER- Special assessment.
Which of the following is the biggest drawback in using a script during the sales process? -
CORRECT ANSWER- It limits the degree of flexibility on the salesperson's part in
presenting the vacation ownership product.
All disclosures required under the ARDA Code of Ethics must be: - CORRECT ANSWER-
Easily located, conspicuous, and readable
Early in the sales process, the most costly element in the marketing program is generally: -
CORRECT ANSWER- Lead generation
True or false, rental programs should be operated most importantly to offset annual
maintenance fees. - CORRECT ANSWER- True
How has social media changed public relations in the timeshare industry? - CORRECT
ANSWER- It allows negative or positive comments to be addressed quickly.
Allows companies to communicate with prospective customers
It can be used to obtain endorsements
The human resource function includes: - CORRECT ANSWER- Forecasting staffing needs.
Because owners generally do not live close to the resort, the resort general manager,
management company, or HOA Board usually must do which of the following in order to
ensure a quorum for a proper owners' association meeting: - CORRECT ANSWER- Solicit
owners' proxies and tally the returns.
