CHIA Certification Exam Preparation Version 2
Newest 2026-2027 With Complete Questions And
Correct Detailed Answers| Brand New Version!
Comp sets are used for many purposes in hotel operations, which of the
following is one of these purposes?
A. Comp sets can be used to aid the sales and marketing departments in
determining the effectiveness of various pricing decisions
B. Comp sets can be used in management contracts for performance
requirements
C. Comp sets can have an effect on a general managers compensation
D. All of the above are examples of how comp sets are used - ANSWER-
D. All of the above are examples of how comp sets are used
The four key considerations when creating a Competitive Set are?
A. Participation, Proximity, Policy, and Product
B. Participation, Proximity, Pricing, and Product
C. Participation, Parking, Policy, and Pricing
D. Participation, Perimeter, Pool, and Pricing - ANSWER-B. Participation,
Proximity, Pricing, and Product
1|Page
,All of the following are good reasons for a hotel to have an additional
competitive set, except which one?
A. Have a local competitive set based upon geography and another
based upon a special feature or niche, for example: waterpark,
boutique, or conference
B. Have different sets for weekday/weekend or group/transient
business
C. Have one set that you can easily beat and another which is a realistic
target
D. Different entities may not agree, for example, chain vs. management
company - ANSWER-C. Have one set that you can easily beat and
another which is a realistic target
When can a competitive set be created (the earliest time)?
A. A competitive set may be created once the hotel has opened
B. A competitive set may be created while the hotel is under
construction
C. A competitive set may be created on the one-year anniversary of a
hotel's opening
D. A competitive set may be created 3 months before a hotel opens -
ANSWER-B. A competitive set may be created while the hotel is under
construction
2|Page
,Who creates a competitive set for a chain hotel?
A. Only the General Manager
B. Only the Revenue Manager
C. Only the Sales and Marketing Managers
D. It is a joint effort involving many stakeholders - ANSWER-D. It is a
joint effort involving many stakeholders
What is the average number of hotels in a competitive set?
A. Between 3 and 4
B. Between 4 and 5
C. Between 5 and 6
D. Between 6 and 7 - ANSWER-C. Between 5 and 6
Which is a valid rule related to creating a competitive set?
A. Comp sets must include seven or more hotels
B. No single property or chain can account for more than 25% of the
total participating room supply of a comp set
C. You can not have more than 20 hotels in your comp set
D. When percentages are calculated, the rooms of the subject hotel, as
well as the same chain and parent company, are excluded - ANSWER-D.
When percentages are calculated, the rooms of the subject hotel, as
well as the same chain and parent company, are excluded
3|Page
, When can a competitive set be changed?
A. Only if your hotel has changed affiliations
B. At any time, although many wait until the beginning of the year
C. Only at the beginning of the year
D. Only when a hotel has a new general manager - ANSWER-B. At any
time, although many wait until the beginning of the year
Which is NOT a valid rule related to changing a competitive set?
A. If adding two hotels to a competitive set, both must be in different
chains
B. A single hotel may be added to a competitive set if it has been open
less than 6 months
C. Any single hotel may be added to a competitive set at any time
D. Any change must involve two or more hotels (i.e. add one/drop one,
add two, drop two, etc.) - ANSWER-C. Any single hotel may be added to
a competitive set at any time
The definitions for Supply, Demand, and Room Revenue used by STR
and others in the lodging industry are taken from what source?
A. Lodging Industry Accounting Fundamentals Guide
B. Uniform System of Accounts for the Lodging Industry
C. Hotel Bookkeeping for Dummies
4|Page
Newest 2026-2027 With Complete Questions And
Correct Detailed Answers| Brand New Version!
Comp sets are used for many purposes in hotel operations, which of the
following is one of these purposes?
A. Comp sets can be used to aid the sales and marketing departments in
determining the effectiveness of various pricing decisions
B. Comp sets can be used in management contracts for performance
requirements
C. Comp sets can have an effect on a general managers compensation
D. All of the above are examples of how comp sets are used - ANSWER-
D. All of the above are examples of how comp sets are used
The four key considerations when creating a Competitive Set are?
A. Participation, Proximity, Policy, and Product
B. Participation, Proximity, Pricing, and Product
C. Participation, Parking, Policy, and Pricing
D. Participation, Perimeter, Pool, and Pricing - ANSWER-B. Participation,
Proximity, Pricing, and Product
1|Page
,All of the following are good reasons for a hotel to have an additional
competitive set, except which one?
A. Have a local competitive set based upon geography and another
based upon a special feature or niche, for example: waterpark,
boutique, or conference
B. Have different sets for weekday/weekend or group/transient
business
C. Have one set that you can easily beat and another which is a realistic
target
D. Different entities may not agree, for example, chain vs. management
company - ANSWER-C. Have one set that you can easily beat and
another which is a realistic target
When can a competitive set be created (the earliest time)?
A. A competitive set may be created once the hotel has opened
B. A competitive set may be created while the hotel is under
construction
C. A competitive set may be created on the one-year anniversary of a
hotel's opening
D. A competitive set may be created 3 months before a hotel opens -
ANSWER-B. A competitive set may be created while the hotel is under
construction
2|Page
,Who creates a competitive set for a chain hotel?
A. Only the General Manager
B. Only the Revenue Manager
C. Only the Sales and Marketing Managers
D. It is a joint effort involving many stakeholders - ANSWER-D. It is a
joint effort involving many stakeholders
What is the average number of hotels in a competitive set?
A. Between 3 and 4
B. Between 4 and 5
C. Between 5 and 6
D. Between 6 and 7 - ANSWER-C. Between 5 and 6
Which is a valid rule related to creating a competitive set?
A. Comp sets must include seven or more hotels
B. No single property or chain can account for more than 25% of the
total participating room supply of a comp set
C. You can not have more than 20 hotels in your comp set
D. When percentages are calculated, the rooms of the subject hotel, as
well as the same chain and parent company, are excluded - ANSWER-D.
When percentages are calculated, the rooms of the subject hotel, as
well as the same chain and parent company, are excluded
3|Page
, When can a competitive set be changed?
A. Only if your hotel has changed affiliations
B. At any time, although many wait until the beginning of the year
C. Only at the beginning of the year
D. Only when a hotel has a new general manager - ANSWER-B. At any
time, although many wait until the beginning of the year
Which is NOT a valid rule related to changing a competitive set?
A. If adding two hotels to a competitive set, both must be in different
chains
B. A single hotel may be added to a competitive set if it has been open
less than 6 months
C. Any single hotel may be added to a competitive set at any time
D. Any change must involve two or more hotels (i.e. add one/drop one,
add two, drop two, etc.) - ANSWER-C. Any single hotel may be added to
a competitive set at any time
The definitions for Supply, Demand, and Room Revenue used by STR
and others in the lodging industry are taken from what source?
A. Lodging Industry Accounting Fundamentals Guide
B. Uniform System of Accounts for the Lodging Industry
C. Hotel Bookkeeping for Dummies
4|Page
