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TM 478 475 472 Exam > Comprehensive Exam > Flashcards

Comprehensive Exam Flashcards

1
Q

A revenue management approach used to maximize the sales of perishable inventories by controlled prices and capacity

A

Yield Management

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2
Q

A casino Employee who provides a personal service link between the casino and premium players

A

CAsino Host

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3
Q

A progressive behavior disorder in which an individual has a uncontrollable urge to gamble.

A

Compulsive Gambler

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4
Q

A marketing acronym for Attention, interest, desire and action. It describes the functions that advertising need to obtain: get attention, gain interest, and create desire to cause action.

A

AIDA

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5
Q

A strategic marketing process to coordinate seller initiated efforts to set up channels of information and persuasion to sell services or to promote an idea.

A

Promotion

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6
Q

The process of attempting to reach the market directly through such media as mail or telephone.

A

Direct Marketing

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7
Q

Develops interactive communication with the casino’s best customers.

A

Direct Marketing

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8
Q

Once the person makes the decision, there is a post-purchase evaluation where the person asks himself/herself whether it was the right decision

A

Cognitive Dissonance

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9
Q

A process that has adopted the usage-rate segmentation and grouped travel markets based on either the length of stay or the volume of trip expenditures.

A

Volume Segmentation

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10
Q

A large, easily identifiable, and accessible group of people who have common interest so that a company can sell to them.

A

Target Market

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11
Q

Revenue / Costs of Goods X 100

A

ROI

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12
Q

Actual / Theoretical Win - Cost of Goods

A

Player Profitability

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13
Q

Player Theoretical X Reinvestment %

A

Offer Value

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14
Q

Cost of Benefits / Theoretical Win X 100

A

Player Reinvestment Percentage

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15
Q

The concept of Lifetime Average Worth Posits

A

A player’s value to the casino will always be greater when viewed over a longer period of time.

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16
Q

Wager X Decisions

A

Handle

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17
Q

Coin In (Coin Out + Jackpots)

A

Actual Win (Slots)

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18
Q

A theory that in order to enjoy an edge over the house, players need a game that has an even, or negative edge to the house, or a game with extremely small margins and the ability to add benefits to change the edge to a positive.

A

Advantage Play

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19
Q

1 / (# of Points earned Per $1 of Coin-In)(# of POints required to Redeem $1 of Value) X 100

A

Percentage of Coin In

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20
Q

Actual Win (Table Games)

A

(Beginning Bank + Buy Ins) - (Ending Bank + Credits)

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21
Q

True or False: In Slot Machines, coin in and drop are the same.

A

False

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22
Q

Which of the following are types of gaming facilities operated in the US?

A

All of the Above

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23
Q

True or False: The general rule for the IRS reporting of slot jackpots is the a slot jackpot that meets or exceeds $750.00 must be reported to the IRS on the form W-2G.

A

False

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24
Q

Personnel from the Cage, Vault, Count Team, Casino Credit, and Revenue Audit Departments should be managed by:

A

Director of Finance or other senior Accounting/Finance position

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25
Q

Ticket In Ticket OUt (TITO) technology on slot machines means:

A

The ticket paid out from one machines can be inserted into and played on another machine.

26
Q

In most states, the various tribal gaming operations are usually exempt from state taxation under the concept of tribal sovereignty

A

True

27
Q

The text notes that casino gaming done on credit represents what percentage of total play Atlantic City casinos?

A

15% - 19%

28
Q

The first step in designing casino performance reports is to choose performance measures that align with top management’s financial goals.

A

True

29
Q

Which of the follow are central cashiering functions?

A

All of the above

30
Q

The instrument used to draw down on an established casino credit line is called a:

A

Marker

31
Q

The cost analysis area that is generally the most critically important to the casino business is:

A

Labor Costs

32
Q

Return on Investment (ROI) is calculated as:

A

Income (profit) divided by investment

33
Q

Casino owners and senior executives have access to the vault/ main bank.

A

False

34
Q

The Bank Secrecy Act (Title 31) required all banks and financial institutions to record and report all cash transaction that exceed _____ during a particular time period.

A

$10,000

35
Q

It is the responsibility of the internal audit department of casinos to act as top managements first line of defense in maintaining the integrity of casino operations.

A

True

36
Q

Governmental gaming authorities are first and foremost concerned with the proper functioning of the casino operations. A secondary object is proper reporting of _____.

A

Gross Gaming Revenue

37
Q

Which of the following is a commonly used IRS form by casinos?

A

All of the above

38
Q

Which of the following is NOT a term often used to describe a component of money laundering?

A

Credit Swap

39
Q

The Department within the US Department of the Treasury responsible for Title 31 compliance is:

A

Financial Crimes Enforcement Network (FinCEN)

40
Q

What is the name of the log used to track and aggregate lower transaction amounts for Title 31 compliance?

A

Multiple Transaction Log (MTL)

41
Q

According to the BBC presentation by Burrus, a 9 box review measures leadership competencies on the:

A

HOW and WHAT

42
Q

These positions are primarily support roles, which support the wealth - creating positions:

A

B level (important) positions

43
Q

Becker, Huselid, and Beatty encourage organizations to put strategy first and not people:

A

True

44
Q

According to Becker, Huselid, and Beatty, What three levels of positions do they identify in a differentiated workforce?

A

A, B, and C Levels

45
Q

When Friedman states, “ the playing field is being leveled: he means it is now possible for more people than ever to collaborate and compete in real time from different corners of the planet using things such as computers, email and new software?

A

True

46
Q

According to Friedman “Outsourcing” is which flattener?

A

Five

47
Q

According to Friedman, the entrance to several billion people from places such as China, India, and the former Soviet Empire onto the playing field is which specific convergence?

A

Third Convergence

48
Q

Friedman identified several categories of jobs, that the new middle will fail into including Great Collaborators, Great Synthesizers, Great Explainers, Great Leverages, Great Adapters, and the Green People. True or False

A

True

49
Q

Flatteners are forces that flattened the world. How many flatteners does Friedman state exist?

A

Ten

50
Q

What are the globalization does Friedman state we are currently in?

A

Globalization 3.0

51
Q

According to Friedman, the quiet crisis can best be described as:

A

A person sleeping on an air mattress and the air is slowly coming out - so slowly you barely feel it, until your head hits the cement.

52
Q

According to Friedman, when he is speaking American and its potential to compete against other countries - he states one of the strengths of American - that is lacking is some other countries - We are high trust country, because we agree that we are going to be governed by a set of values and principles reflected in our institutions and laws - which are higher and more enduring than any individual.

A

True

53
Q

Friedman created a simple formula to describe the power of curiosity and passion in relation to intelligence.
CQ + PQ > UQ

A

True

54
Q

The Right Stuff under the heading “Which class do I take to learn How to Learn?” what is the first and most important ability you can develop in a flat world?

A

The ability to Learn how to Learn

55
Q

According to Friedman in the beginning to Chapter 22, the initial backlash against globalization as it was unfolding was because it was viewed as a form of American cultural imperialism?

A

True

56
Q

The Rule 8 in Chapter 11, HOW you do things a company matters more today than ever describes the difference in companies in how they treat colleagues, customers, suppliers, and investors as part of their success.

A

True

57
Q

According to Friedman, how many Dirty little secrets does America have?

A

6

58
Q

Which of the following dirty little secret would best describe this issue in American where American workers productivity is poorer than other countries such as india?

A

Dirty Little Secret #3 - Ambition Gap

59
Q

In the Chapter titled “how companies cope / chapter 11 of the text book, how many rules does Friedman list for companies to live by?

A

9 rules

60
Q

In chapter 10 “I can only get it for you retail” It paints a picture of countries if they were neighborhoods in a city. He called Western Europe an assisted lving facility, the US a gated community etc. How did he describe India, China and East Asia as a group?

A

The other side of the tracks

TM 478 475 472 Exam (1 decks)

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