HFT 3273 Principles of Resort Timesharing
Final UPDATED Exam Questions and
CORRECT Answers
Quiz 3 - CORRECT ANSWER - Quiz 3
1. Rentals are allowed for all ownership types: - CORRECT ANSWER - False
Which is a reason for an owner to want to resell their timeshare? - CORRECT ANSWER -
A. Lifestyle changes
B. Fees
C. Owner's death
Obstacles of timeshares resale: - CORRECT ANSWER - A. Lack of standardized measure
of value
B. Geographical separation
C. Fraudulent activities
There are 2 types of financing, consumer and developer: - CORRECT ANSWER - True
Which is the responsibility of an HOA: - CORRECT ANSWER - A. Budgeting
B. Hiring a management company
D. Annual fees
Construction financing covers 100% of the costs. - CORRECT ANSWER - False, no more
than 70-80%
POA, COA and HOA all mean the same thing: - CORRECT ANSWER - True
, If you can't attend the HOA annual meeting you have no voting rights - CORRECT
ANSWER - False
There is no minimum to the number of owners that must attend a meeting: - CORRECT
ANSWER - False
Resort management can be performed by all of the following: - CORRECT ANSWER - A.
The HOA
B. A management company
C. The developer
A developer seeking equity financing is asking a lender to: - CORRECT ANSWER - Put
up most of the money to launch the project
In the timeshare industry, financing is critical because: - CORRECT ANSWER - Both
developers and purchasers need financing
Acquisition financing - CORRECT ANSWER - Funds that pay for the land
Equity financing - CORRECT ANSWER - "seed money"
Construction financing - CORRECT ANSWER - Covers hard and soft costs
Development financing - CORRECT ANSWER - Prepares site for
improvements/construction
End loan financing - CORRECT ANSWER - Funds for consumer purchases
Final UPDATED Exam Questions and
CORRECT Answers
Quiz 3 - CORRECT ANSWER - Quiz 3
1. Rentals are allowed for all ownership types: - CORRECT ANSWER - False
Which is a reason for an owner to want to resell their timeshare? - CORRECT ANSWER -
A. Lifestyle changes
B. Fees
C. Owner's death
Obstacles of timeshares resale: - CORRECT ANSWER - A. Lack of standardized measure
of value
B. Geographical separation
C. Fraudulent activities
There are 2 types of financing, consumer and developer: - CORRECT ANSWER - True
Which is the responsibility of an HOA: - CORRECT ANSWER - A. Budgeting
B. Hiring a management company
D. Annual fees
Construction financing covers 100% of the costs. - CORRECT ANSWER - False, no more
than 70-80%
POA, COA and HOA all mean the same thing: - CORRECT ANSWER - True
, If you can't attend the HOA annual meeting you have no voting rights - CORRECT
ANSWER - False
There is no minimum to the number of owners that must attend a meeting: - CORRECT
ANSWER - False
Resort management can be performed by all of the following: - CORRECT ANSWER - A.
The HOA
B. A management company
C. The developer
A developer seeking equity financing is asking a lender to: - CORRECT ANSWER - Put
up most of the money to launch the project
In the timeshare industry, financing is critical because: - CORRECT ANSWER - Both
developers and purchasers need financing
Acquisition financing - CORRECT ANSWER - Funds that pay for the land
Equity financing - CORRECT ANSWER - "seed money"
Construction financing - CORRECT ANSWER - Covers hard and soft costs
Development financing - CORRECT ANSWER - Prepares site for
improvements/construction
End loan financing - CORRECT ANSWER - Funds for consumer purchases
