255 final study guide - 112607 PRACTICE FINAL SKR Page 1 _...

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112607 PRACTICE FINAL SKR Page 1 _____________________________________________________________________________________________ Here are about 30 PRACTICE questions to help you prepare for the final exam. In order for these questions to be most effective as a study aid , try to answer as many questions as you can without referring to your notes, and then turn to the course materials to cover those questions you may have had trouble with. Remember: I’m looking for the ONE BEST answer to each question. I will post the answers on December 12. To supplement these questions, look also at the exercises posted on the course web site for each week, and spend some time going over your homeworks, prelims and your lecture notes. Good luck! 1. 00000000All of the following are steps or sub-steps in the development process except: (a) Contract bid analysis (b) Feasibility (c) Renovation planning (d) Schematic design (e) Team assembly 2. Which of the following typically forms part of the owner/developer’s role in a hotel project? (a) FF&E procurement (b) Inspection for punch list (c) Obtaining financing (d) Responsibility for code compliance (e) Reviewing the floor plans for hotel functionality 3. What is the primary goal of an asset manager? (a) Maximize returns (b) Maximize value (c) Maximize number of properties in a portfolio (d) Maintain good relations with operators (e) Attract investment dollars 4. The best way to determine the value of an existing hotel property is to: (a) Calculate the internal rate of return on the hotel’s revenues over several years plus add in the IRR of the reversion (b) Calculate the net present value of the hotel’s NOI over several years plus add in the NPV of the reversion (c) Look at recent sales of comparable properties (d) Perform a location analysis (e) Ask a quantity surveyor for a cost estimate for replacing the hotel 5. All of the following were discussed in class as reasons to perform a feasibility study except: (a) To determine value (b) To define a concept (c) To attract equity financing (d) To obtain debt financing (e) To attract an operator 6. If a hotel has more than its fair share of leisure business, it is said to: (a) Penetrate the leisure market at less than 100% (b) Penetrate the leisure market at more than 100% (c) Penetrate the business market and group markets equally (d) Have a penetration factor of 1
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This test prep was uploaded on 02/24/2008 for the course HADM 265 taught by Professor Robson during the Spring '08 term at Cornell University (Engineering School).

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255 final study guide - 112607 PRACTICE FINAL SKR Page 1 _...

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