KIN 3804 Joelle Exam Questions With
Correct Answers
System 1 (Watson) - CORRECT ANSWER✔✔-Unconscious reasoning, Automatic
| | | | | | | |
mode, Low Effort, Mindlessness
| | |
System 2 (Holmes) - CORRECT ANSWER✔✔-Conscious reasoning, Analyzing, High
| | | | | | | | |
Effort, Mindfulness
|
Financial Management Importance - CORRECT ANSWER✔✔-No overspending
| | | | | |
Budget - CORRECT ANSWER✔✔-A road map that shows where the sport
| | | | | | | | | | |
organization intends to spend its money.
| | | | |
Cut costs - CORRECT ANSWER✔✔-Reducing expenses to maintain financial
| | | | | | | | |
health.
Incentives - CORRECT ANSWER✔✔-Motivational factors that encourage specific
| | | | | | | |
behaviors.
Allocated funds - CORRECT ANSWER✔✔-Designated money for specific purposes.
| | | | | | | |
Safety net - CORRECT ANSWER✔✔-Financial reserves to cover unexpected
| | | | | | | | |
expenses.
,Schools paying athletes - CORRECT ANSWER✔✔-Emerging trend in college sports
| | | | | | | | | |
for compensating student-athletes.
| |
New revenue sources - CORRECT ANSWER✔✔-Innovative ways to generate
| | | | | | | | |
income in sports. | |
Personal seat licensing - CORRECT ANSWER✔✔-Up to $150k a seat for securing
| | | | | | | | | | | |
the right to purchase season tickets.
| | | | |
NFTs - CORRECT ANSWER✔✔-Non-fungible tokens used for digital ownership in
| | | | | | | | | |
sports.
Fan Tokens - CORRECT ANSWER✔✔-Cryptocurrency-based tokens that allow fans
| | | | | | | | |
to engage with teams.
| | |
Jersey Sponsorships - CORRECT ANSWER✔✔-Corporate branding on team jerseys
| | | | | | | | |
for revenue.
|
Poor financial planning - CORRECT ANSWER✔✔-Failure to adequately prepare for
| | | | | | | | | |
financial needs. |
Tax payers' rights - CORRECT ANSWER✔✔-Citizens' ability to vote on funding for
| | | | | | | | | | | |
local facilities.
|
, 1990s and Early 2000s Expansion - CORRECT ANSWER✔✔-$28 Billion in
| | | | | | | | | |
Construction Expenses with 40 new stadiums and arenas.| | | | | | |
2007-2009 Great Recession - CORRECT ANSWER✔✔-Significant impact on the
| | | | | | | | |
sport industry, leading to workforce reductions and lower attendance.
| | | | | | | |
2010s Contemporary Environment - CORRECT ANSWER✔✔-Recovery of many
| | | | | | | |
sectors in sports, requiring creative solutions.
| | | | |
2020-2022 Pandemic Impact - CORRECT ANSWER✔✔-Unprecedented disruption
| | | | | | |
with significant financial challenges.
| | |
2023-Present Post-Pandemic Era - CORRECT ANSWER✔✔-Innovation reshaping
| | | | | | |
the sport industry with a focus on competitive advantage.
| | | | | | | |
College Sports Financial Realities - CORRECT ANSWER✔✔-Costs exceed revenues,
| | | | | | | | |
leading to increased financial discrepancies.
| | | |
Skyrocketing coaches' salaries - CORRECT ANSWER✔✔-Rapid increase in
| | | | | | | |
compensation for coaching staff. | | |
Athletic facilities arms race - CORRECT ANSWER✔✔-Competition among schools
| | | | | | | | |
to build and maintain superior athletic facilities.
| | | | | |
Mandatory Student Athletic Fees - CORRECT ANSWER✔✔-Fees required from
| | | | | | | | |
students to support athletic programs.
| | | |
Correct Answers
System 1 (Watson) - CORRECT ANSWER✔✔-Unconscious reasoning, Automatic
| | | | | | | |
mode, Low Effort, Mindlessness
| | |
System 2 (Holmes) - CORRECT ANSWER✔✔-Conscious reasoning, Analyzing, High
| | | | | | | | |
Effort, Mindfulness
|
Financial Management Importance - CORRECT ANSWER✔✔-No overspending
| | | | | |
Budget - CORRECT ANSWER✔✔-A road map that shows where the sport
| | | | | | | | | | |
organization intends to spend its money.
| | | | |
Cut costs - CORRECT ANSWER✔✔-Reducing expenses to maintain financial
| | | | | | | | |
health.
Incentives - CORRECT ANSWER✔✔-Motivational factors that encourage specific
| | | | | | | |
behaviors.
Allocated funds - CORRECT ANSWER✔✔-Designated money for specific purposes.
| | | | | | | |
Safety net - CORRECT ANSWER✔✔-Financial reserves to cover unexpected
| | | | | | | | |
expenses.
,Schools paying athletes - CORRECT ANSWER✔✔-Emerging trend in college sports
| | | | | | | | | |
for compensating student-athletes.
| |
New revenue sources - CORRECT ANSWER✔✔-Innovative ways to generate
| | | | | | | | |
income in sports. | |
Personal seat licensing - CORRECT ANSWER✔✔-Up to $150k a seat for securing
| | | | | | | | | | | |
the right to purchase season tickets.
| | | | |
NFTs - CORRECT ANSWER✔✔-Non-fungible tokens used for digital ownership in
| | | | | | | | | |
sports.
Fan Tokens - CORRECT ANSWER✔✔-Cryptocurrency-based tokens that allow fans
| | | | | | | | |
to engage with teams.
| | |
Jersey Sponsorships - CORRECT ANSWER✔✔-Corporate branding on team jerseys
| | | | | | | | |
for revenue.
|
Poor financial planning - CORRECT ANSWER✔✔-Failure to adequately prepare for
| | | | | | | | | |
financial needs. |
Tax payers' rights - CORRECT ANSWER✔✔-Citizens' ability to vote on funding for
| | | | | | | | | | | |
local facilities.
|
, 1990s and Early 2000s Expansion - CORRECT ANSWER✔✔-$28 Billion in
| | | | | | | | | |
Construction Expenses with 40 new stadiums and arenas.| | | | | | |
2007-2009 Great Recession - CORRECT ANSWER✔✔-Significant impact on the
| | | | | | | | |
sport industry, leading to workforce reductions and lower attendance.
| | | | | | | |
2010s Contemporary Environment - CORRECT ANSWER✔✔-Recovery of many
| | | | | | | |
sectors in sports, requiring creative solutions.
| | | | |
2020-2022 Pandemic Impact - CORRECT ANSWER✔✔-Unprecedented disruption
| | | | | | |
with significant financial challenges.
| | |
2023-Present Post-Pandemic Era - CORRECT ANSWER✔✔-Innovation reshaping
| | | | | | |
the sport industry with a focus on competitive advantage.
| | | | | | | |
College Sports Financial Realities - CORRECT ANSWER✔✔-Costs exceed revenues,
| | | | | | | | |
leading to increased financial discrepancies.
| | | |
Skyrocketing coaches' salaries - CORRECT ANSWER✔✔-Rapid increase in
| | | | | | | |
compensation for coaching staff. | | |
Athletic facilities arms race - CORRECT ANSWER✔✔-Competition among schools
| | | | | | | | |
to build and maintain superior athletic facilities.
| | | | | |
Mandatory Student Athletic Fees - CORRECT ANSWER✔✔-Fees required from
| | | | | | | | |
students to support athletic programs.
| | | |
