Save
Upgrade to remove ads
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

IDE 403

Professional Practice

TermDefinition
Set 1 Professional Organizations & Legal Basics
EEE Education, Experience, Examination.
CIDA Council for Interior Design Accreditation
CIDQ Council for Interior Design Qualification.
IDEC Interior Design Educators Council.
Practice Act Requires designers to be licensed to practice.
Title Acts Protects the title “Interior Designer.”
Permitting Status Ability to submit building plans.
Negligence Failure to use reasonable care.
Conflict of Interest Personal interests influence professional decisions.
Fiduciary Duties Responsibilities a trusted professional must uphold.
Strict Liability Liable even without proving fault.
Breach of Contract Failure to meet obligations in an agreement.
Tort Law Law dealing with harm or injury.
Trespassing Entering someone’s property without permission.
Conversion Taking something that isn’t yours.
Nuisance Improper activity affecting others.
Copyright Protects original creative work.
Trademark Protects branding symbols/words.
Patent Protects inventions and designs.
Set 2 Resumes, Cover Letters, Portfolio
Reverse Chronological Resume Most recent job first.
Functional Resume Focuses on skills.
Combination Resume Mix of skills and experience.
Cover Letter Purpose Purpose → story → conclusion.
Portfolio Collection of skills + project work.
Set 3 Codes & Regulations
Code Compliance Following required laws and standards.
Building Code Construction rules for safety and performance.
Fire Code Rules to prevent and handle fire hazards.
Life Safety ADA and emergency safety regulations.
Set 4 Business & Billing
Billing Rate Amount charged per hour or day.
Direct Personal Expense 25–30% of salary.
Fringe Benefits 30% of salary.
Fixed Fee Flat price for a project.
Square Foot Method Price based on cost per square foot.
Value-Oriented Pricing Senior designers charge more; junior designers charge less.
Percentage Fee Percentage of merchandise/services.
Set 5 Vendor Accounts, Discounts & Pricing
Vendor Account Purpose Establish credit and credibility.
Vendor Application Requirements Credit and busniess information.
Helpful Memberships IIDA or ASID.
Downpayment/Deposit Pre-payment for product.
Retainer Pre-payment for service.
Net Price Your cost.
Selling Price Marked-up price to client.
Catalog Price Listed price of product.
MSRP Manufacturer’s Suggested Retail Price.
Discount Codes Used to reduce price.
Keystone Discount 50% off wholesale.
EQP Discount Extra discount for bulk quantity.
Set 6 Contracts & Specifications
Offer Initial proposal in a contract.
Consideration Value exchanged.
Acceptance Agreement to the offer.
Contract Capacity Ability to understand/agreement of terms.
Signatures Finalize the contract.
Sales Contract Agreement to exchange goods/services.
Letter of Agreement Written outline of business terms.
Open Specification Generic requirements.
Closed Specification Specific product required.
Performance Specification What a product must achieve.
Reference Specification Refers to outside standards.
Set 7 Design Process
Research Gather background information.
Programming Define needs and functions.
Schematic Design Define needs and functions.
Design Development Refining design and selecting materials.
Construction Documents Final detailed drawings and specifications.
Bidding Contractor pricing phase.
Construction Administration Overseeing construction for compliance.
Set 8 Bonds, Submittals & Value Engineering
Bid Bond Ensures contractor can execute project.
Performance Bond Ensures project is completed per contract.
Labor Bond Ensures contractor can cover labor costs.
Submittals / Change Orders Written approvals for project changes.
Value Engineering Reducing cost while maintaining performance.
Set 9 Business, Management & Buying a Firm
Planning Primary management function.
Due Diligence Reviewing business before buying.
Develop a Plan Establish goals, market, finances.
Growth Cycle Startup → Growth → Maturity → Fault.
Negotiation Discussion to reach agreement.
Arbitration Third-party resolves disputes.
Set 10 Accounting Basics
Income Statement Shows revenue and expenses over time.
Balance Sheet Shows assets, liabilities, and equity.
Assets What the company owns.
Liabilities What the company owes.
Equity Owner’s remaining interest.
Revenue Total money earned.
Expenses Costs of running the business.
Profit Revenue − expenses.
Loss When expenses exceed revenue.
Net Profit Profit after all expenses.
Set 11 Loans & Capital
Secured Loan Requires collateral.
Unsecured Loan No collateral.
Short-Term Loan One year or less.
Line of Credit Borrow, repay, borrow again.
Long-Term Loan Typically 15+ years.
Debt Capital Borrowed money repaid with interest.
Collateral Security pledged for repayment.
Angel Investor Investor offering money at low rates.
Set 12 Insurance
Workers’ Compensation Insurance for work injuries.
Business Income Insurance Covers income lost during disruptions.
Professional Liability Insurance Covers negligence/errors.
Crime Liability Responsibility for harmful or criminal acts.
Errors & Omissions Insurance Covers professional mistakes/omissions.
Set 13 Business Plans & Marketing
Business Plan Detailed plan describing operations and goals.
Strategic Plan Long-term goals.
Marketing Plan How to attract clients.
Financial Plan Managing income and expenses.
Orientation Plan Training new hires.
Demographic Targeting Based on age, gender, income, etc.
Geographic Targeting Based on location.
Industry Targeting Based on business sector.
Niche Marketing Small, specific audience.
Created by: krardilio
 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards