CHIA exam 1 Questions With Complete Solutions Graded A+

1) Most of the entities below are classified as "Chains". Which one is a "Parent Company" consisting of multiple chains? - Accor Hotels 2) Which is a true statement about Parent Companies? - Parent Companies and the related chains have changed over time 3) What are the three different operation types? - Chain Management, Franchise, Independent 4) Which is a true statement about independent hotels? - Independent hotels are not affiliated with a specific chain 5) Which is a true statement about Management Companies? - Management companies have contracts where they receive payment for their services and/or some portion of profits 6) Which is a true statement regarding geographic categorization? - STR uses the UNWTO definitions when it comes to recognizing countries 7) Which is a true statement regarding markets? - No market will ever cross country boundaries 8) In descending order of geographic size, which option below is correct? - Continent, SubContinent, Country, Market, Submarket 9) Which two geographic categories are the most important for a hotel GM? - Market and Submarket 10) Markets and Submarkets are created based on what two determining factors? - Number of hotels and participation11) Which is a true statement regarding Submarkets - A submarket may represent a small city in a rural market