Timeshare Test 1 Study Guide

Timeshare Test 1 Study Guide Marriott Vacation Club just introduced what kind of ownership? - points Existing Marriott Vacation Club owners will have to convert their ownership into the new program. - FALSE Timeshare sales have increased or decreased in the United States since last year. - Decreased At the end of the semester Dr. Kaufman accepts extra credit papers if you have a poor grade. - FALSE Before the banking issues if you could sign your name and wanted to buy it timeshare resorts would sell it to you. - TRUE It is a good time to buy a timeshare on the resale market. - TRUE Vacation ownership originated in the United States. - FALSE What company does not have a timeshare segment? - None of the above If you own a timeshare you must always return to the same resort every year. - FALSE What decade were timeshares created? - 1960s Wyndham is charging how much for owners to purchase guest certificates(needed for people the owner chooses to use the property/not the owner)? - $129 Wyndham currently allows owners to sell their points to other owners at no cost. - FALSE Timeshares are a good real estate investment. - FALSE Hyatt Vacation Club has locations in the following places - Key West, Lake Tahoe, Carmel, CA Hyatt Vacation Club owners may redeem points for travel to participating Hyatt Hotels and Resorts. - TRUE The tests and exams are administered in the classroom. If you are more than 10 minutes late you will not be able to take the exam. - TRUE Timeshare owners are responsible for repairs of their resort in the case of a hurricane. - TRUE If an owner decides to sell their timeshare it is really easy, there is a big market of people that want to buy. - FALSE MOST people are satisfied with their time share purchase - TRUE Owners can deed their timeshare to their friends and family - TRUE There are less than 1,000 timeshare resorts in the United States. - FALSE Bluegreen Resorts stock price is currently at the lowest point of the past 52 weeks - FALSE The Middle East is an emerging timeshare market - TRUE Most timeshares are brands. - FALSE Vino Bello Resort is located in .... - Napa Bluegreen Resorts have timeshare in which location? - Big Canoe, GA Lake Lure, NC Hershey, PA What percentage of timeshare owners own timeshares at two resorts? - 19.3% Bluegreen's operating income from Dec 31 2006 to Dec 31 2009 has decreased by how many million? - 37.6 mil More than half of timeshares are financed through the developer - TRUE Bluegreen Corporation gross profit decreased between 2008 and 2009 - TRUE The smallest number of timeshare projects is located where in the US? - Northeast Most timeshare owners stated that if they were buying another timeshare that they would purchase it new through the developer - FALSE One of the benefits of Shell Vacation Clubs is the opportunity to go on African safaris. - TRUE One thing the California and Hawaii timeshare markets have in common is - High product costs The timeshare industry is now heavily regulated on a state-by-state basis - TRUE Over half of the timeshare owners live where - east coast The most mentioned reason that people hesitate before buying a timeshare is the price - FALSE Most timeshare owners stayed in their home resort instead of exchanging for another one in 2007. - TRUE Timeshares are only allowed to charge maintenance fees. Special assessments that cover extra costs such as storm damage cannot be charged - FALSE Andrew Carnegie paid Charles Schwab 1 million dollars a year to be the president of his Steel company because he knew more about steel than anybody else - FALSE The right to use timeshare the owner gets to use a timeshare for a certain period of time, but they do not own it - TRUE