Artist Management Test 1 – Rush Hicks, Dwayne O’Brien (Belmont U) – Flashcards
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RIAA
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Recording Industry Association of America
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If the Artist is the corporation, the Artist Manager is the ____
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CEO
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T or F: California prohibits a manager from being a booking agent
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True
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T or F: It's a good idea to have your record producer or publisher also be your personal manager
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False
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What is the lifeblood of the music industry?
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Finding, developing, and exploiting talent.
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Limited management involves engaging the services of a person other than the (1)___ to provide certain specific (2)___ services. The (3)___ performs all other management functions not delegated to the (4)___.
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(1) artist, (2) management. (3) artist, (4) manager.
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T or F: The greatest disadvantage of self-management is that many artists simply don't have the experience and expertise needed to manage their own careers effectively.
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True
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Total management involves an (1) ___ or (2) ____ that is completely involved in the creative and business development and maintenance of artists' career
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(1) individual, (2) management firm
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If an artist is serious about a career in the music business, they should probably move to a music center such as ___, ___, ___, ___, or ___.
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Nashville, Los Angeles, Miami, Atlanta, or New York.
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An artist's promotional package should include a (1) ___, (2) ___, (3) ___, and a (4) ___ of two or three of your best (5) ____.
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(1) photograph, (2) brief biography, (3) press clippings, and a (4) professional demo, (5) songs.
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What is probably the most critical factor in determining a potential manager's credentials?
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Reputation in the industry
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What commission range do managers usually charge of the artist's gross earnings?
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15% - 25%
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T or F: Artists will always insist on paying managers from their gross revenue, but managers should always insist on being paid from net revenue.
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False
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What is it called when an artist's manager is paid a commission on the artist's gross earnings while also receiving other income from the artist?
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Double dipping
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AFTRA stands for what and represents who?
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The American Federation of Television and Radio Artists. They represent singers.
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AFM stands for what and represents who?
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The American Federation of Musicians. They represent musicians.
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T or F: A manager should know the artist's career history and financial condition, professionally and personally.
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True
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What is a good training ground for personal managers?
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Being a road manager for a national act.
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Artist management consists of anything that will further an artist's ___.
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Career
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T or F: An artist's talent alone is never enough
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True
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A strong artist-manager relationship is similar to a good ___.
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Marriage
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Is compatibility between the artist and manager important?
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Yes
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What is the intangible quality of an artist that separates stars from talents called?
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Belief
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T or F: The manager should be expected to make loans to the artist.
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False
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What is the word for that exceptional "star" quality generated by an individual that makes him or her stand out in a crowd?
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Charisma
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T or F: An escalating manager's commission percentage goes up as the artist's gross earnings increase or could just as easily decrease if the artist's earnings increase.
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True
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A good artist manager probably has some experience in (1) ___, (2) ___, (3) ___, (4) ___, (5) ____, (6) ___, or (7) ___.
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(1) management, (2) booking, (3) recording, (4) engineering, (5) producing, (6) music publishing, or (7) public relations
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How does an artist manager succeed in the music business?
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Through contacts, an insight into the industry, and by opening doors and making sure the artist is ready to step through them.
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An accountant should file the necessary ___ and ___ tax returns on behalf of the artist.
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state and federal
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Is a manager probably also a publicist, graphics specialist, choreographer, recording engineer, studio musician, sideman, or songwriting partner?
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Nope
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What is a sole proprietorship?
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A business conducted by one individual who is the sole owner.
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Does a sole proprietorship require contracts?
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No
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Is a sole proprietorship required to provide worker's compensation insurance?
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It may be.
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What is a partnership?
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An association of two or more persons conducting a business on a continuing basis as co-owners for profit.
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Is a corporation a separate, legal entity recognized by state law?
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Yes
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How is a corporation governed?
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By a board of directors
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Who selects the managing officers in a corporation?
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The board of directors
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What do you have to file to start a corporation?
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A charter, sometimes called articles of incorporation
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What are the laws called that govern the operation of the corporation?
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Bylaws
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What is the governing document of an LLC called?
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Operating Agreement
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How are LLCs treated for tax purposes?
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As partnerships
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What does a buy-sell agreement specify?
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How death or withdrawal of a member is handled so that the entity continues to exist without disruption.
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What does an artist's agent do?
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Represents the artist in negotiations and deal making
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What does the Initial Exploratory Conference allow?
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It allows the parties to determine if their goals match up and whether or not they should go ahead with the business relationship.
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Sound, material, physical appearance, image/branding, musical history, other significant areas, and charisma are contained within the ___.
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Creative inventory
