Question 7 (3 points) The REIT Modernization Act made one change that is very positive for the lodging industry: It now allows REITs to manage the properties they own.

Question 7 options: A) True B) False

Question 8 (3 points) Some city-ledger accounts are permanent, on-going records (credit-card accounts, for example) and some are one-time records (Jones-Smith wedding party, for example).

Question 8 options: A) True B) False

Question 9 (3 points) In a brief period, lobby business centers, which were once essential for commercial hotels, have been largely replaced by in-room electronic equipment and telecommunication hookups.

Question 9 options: A) True B) False

Question 10 (6 points) Which of the following applies to conference centers?

Question 10 options: A) Meeting space is dedicated B) Double occupancy is low C) Growth in this segment of the market has stopped D) Weekend occupancy is high E) All of the above

Question 11 (3 points) Bank credit-card companies pay the hotel/merchant in full at face value, but T&E card companies reduce the hotel's payments by merchant fees.

Question 11 options: A) True B) False