Continuous Professional Development
Productive sales people have all the following characteristics EXCEPT: Choose one answer.
A. Know what their time is worth.
B. Are selective about who they work with.
C. Spend adequate time to properly qualify a prospect.
D. Never take NO for an answer.
Setting of a Deficiency Modification Plan involves all the following EXCEPT: Choose one answer.
A. Identifying all the deficiencies.
B. Priority listing of deficiencies.
C. Corrective action.
D. Time frame for corrective action.
Following are the basic type of Financial Statements, EXCEPT: Choose one answer.
A. Break- Even Statement.
B. Balance Sheet.
C. Income Statement.
D. Cash- Flow Statement.
As a team leader of a successful team you must always do the following, EXCEPT: Choose one answer.
A. Solicit honest feedback from your team.
B. Challenge the imagination of your team.
C. Never play politics with your team.
D. Be dictatorial.
Diagnostic analysis of a Business Plan includes all the following EXCEPT: Choose one answer.
A. Profitability.
B. Goals and Objectives.
C. Qualitative analysis.
D. Quantitative analysis.
Good meetings are useful in moving an organization forward. Bad meetings are a waste of everyone’s time. All the following points help make for a good meeting, EXCEPT: Choose one answer.
A. What is the purpose?
B. Who needs to be there?
C. What is on the agenda?
D. When is the next meeting scheduled?
All the following are valid objectives in the sales development process, EXCEPT: Choose one answer.
A. What do you want to sell?
B. Who do you want to sell it to?
C. How do you want to sell it?
D. How do you benefit by selling it?
Effective teams have all the following characteristics, EXCEPT: Choose one answer.
A. Team members share leadership roles.
B. Team members are mutually responsible and accountable.
C. Team members are not supportive of each other.
D. Team members make commitments to the team and each other.
The following is evidence of a positive business culture, EXCEPT: Choose one answer.
A. Caring and supporting your staff.
B. Written policies and procedures.
C. Changing and dictatorial practices.
D. Determining staff needs and appropriate training plan.
A Business Plan is all of the following, EXCEPT: Choose one answer.
A. Written document.
B. Lists the strengths, weaknesses, challenges and opportunities.
C. Lists business goals.
D. Describes how you will achieve the goals.
Collaboration is the heart of good team work. This means all the following, EXCEPT: Choose one answer.
A. Team members blame each other for their mistakes.
B. Team members share credit for accomplishments.
C. Team members help each other succeed and grow.
D. Team members share their problems while offering solutions.
Effective metrics on sales performance are essential for managing the sales cycle. All the following are elements of the sales performance measurements, EXCEPT:
A. Readiness
B. Productivity
C. Efficiency
D. Competition
All the following are steps in the selection process, EXCEPT: Choose one answer.
A. Preliminary interview or phone screening.
B. Testing.
C. Physical examination and promotion.
D. Employment offer.
The following are true with regard to Business Ethics, EXCEPT: Choose one answer.
A. Decisions must be managed and constantly monitored.
B. It means doing the “Right” thing.
C. Decisions are applicable to all without any exceptions.
D. You are responsible only for your ethical behavior, not for those reporting to you.
The cost of adding new clients or customers is far greater than expanding opportunities with existing clients. All the following are strategies to cultivate relations with your client base rather than seek new single transaction accounts, EXCEPT:
A. Establish client relationship teams.
B. Maintain professional contacts with clients on an on-going basis.
C. Ignore news of legal actions, and rumors about your company.
D. Seek referrals from satisfied clients.
A policy purchase is based on the following assumptions:
- The applicant answers all the questions with utmost good faith.
- The Insurance Company always sticks with the contract.
A. I only
B. II only
C. Both I and II
D. Neither I nor II
Recruiting can be compared to prospecting because
- It should be an ongoing routine fun
ction - It is an easy habit to learn.
A. I only
B. II only
C. Both I and II
D. Neither I nor II
Some of the best advisors who are brought in are as a result of
- Referrals from successful advisors.
- Solicitation of policyholders.
A. I only
B. II only
C. Both I and II
D. Neither I nor II
A sales manager will probably want to know
- His role in the organization
- How the goals are set for him, and how he is to accomplish them.
A. I only
B. II only
C. Both I and II
D. Neither I nor II
The effect of one more call a day by an advisor can
- Take the advisor to a higher performance level.
- Be insignificant to an advisor’s earnings.
A. I only
B. II only
C. Both I and II
D. Neither I nor II
The main fun
- Recruitment
- Productive growth
A. I only
B. II only
C. Both I and II
D. Neither I nor II
Recruiting can be considered as
- The foremost requirement of a sales manager.
- Recruitment results over time follow the Pareto Rule.
A. I only
B. II only
C. Both I and II
D. Neither I nor II
Developing good relationships include
- Always being polite and courteous.
- Praising in public, reprimanding in private.
A. I only
B. II only
C. Both I and II
D. Neither I nor II
Which statement is true?
- Teams are defined by groups of people working on the same project.
- A work group is defined as people working on the same project.
A. I only
B. II only
C. Both I and II
D. Neither I nor II
The following statements are true
- A sales person is primarily tasked with building accounts and making sales.
- A sales manager builds sales people.
A. I only
B. II only
C. Both I and II
D. Neither I nor II
Brand relevance is important to customers because
- They may have had a bad experience with a company and refuse to deal with them again.
- A happy, satisfied customer would very likely become a client and refer even more business.
A. I only
B. II only
C. Both I and II
D. Neither I nor II
After a team is built, a manager
- Must always continue to build relationships.
- Leave people alone, and hire more advisors.
A. I only
B. II only
C. Both I and II
D. Neither I nor II
Which of the following statements regarding the benefits of target marketing is correct? Choose one answer.
A. It helps you to learn the business of the competitor.
B. You penetrate the whole market.
C. It helps you understand those you serve.
D. You don’t have to spend on advertising and promotions.
Which of the statements is true of budgeting? Choose one answer.
A. Budgeting is a process of determining the profits of a company.
B. Budgeting is a process of allocating resources and income.
C. Budgeting is a document to generate resources for a company.
D. None of the above.
The following is true with regard to business ethics. Choose one answer.
A. It is secondary to profitability.
B. It acts as a guide for true professional behavior.
C. It implies adherence to law.
D. It can be used to monitor the efficiency of a business.
To instill confidence and loyalty from team members, a team leader should. Choose one answer.
A. Be honest with his team.
B. Always be diplomatic so no feelings are hurt.
C. Always be sympathetic.
D. Always be aggressive and confrontational.
Which of the following statements regarding Financial Advisors is true? Choose one answer.
A. Financial advisors need to be insurance experts.
B. Financial advisors need not have expertise in all aspects of life insurance.
C. Financial advisors must be pushy.
D. Financial advisors must always put their needs ahead of client’s need.
When a policy lapses. Choose one answer.
A. The company issuing the policy is unaffected.
B. The Lokayukta gets involved.
C. The policy holder and the beneficiaries are the biggest losers.
D. Escrow amounts for reserves are unaffected.
A master budget comprises of. Choose one answer.
A. Revenues, Expenses and Cash flow.
B. Revenue, Expenses and Capital conservation.
C. Revenue, Cash flow, Balance sheet.
D. Revenue, Expenses, Depreciation schedule.
As a team leader, a manager. Choose one answer.
A. Must listen to his team member’s inputs with a closed mind.
B. Must learn to relate mainly to the projects assigned to him by the company.
C. Must remain aloof and detached.
D. Must be readily available to his team members.
The following is something you must do for better Time Management. Choose one answer.
A. Never say ‘No’
B. Be a perfectionist
C. Procrastinate
D. Delegate
As a manager you will. Choose one answer.
A. Always have the final say in the hiring decision.
B. Always decide on a compensation package.
C. Always be aware of what the current compensation package range is on the market.
D. Always expect to pay the high end of a compensation range.
Working in an unstructured, haphazard environment can lead to. Choose one answer.
A. Lack of confusion.
B. Punctuality.
C. Missed deadlines.
D. Error free transactions.
The effect of a policy lapse on a new advisor. Choose one answer.
A. Can be career ending.
B. A bad learning experience.
C. Has no effect.
D. Can boost his self confidence
Sales can lead to peaks and valleys in earnings. To smooth out these peaks and valleys, it is important to. Choose one answer.
A. Always have a large list of ‘suspects’.
B. Convert all your ‘suspects’ into ‘prospects’
C. Ensure that you have activity in every stage of the process.
D. Never analyze what is going right or wrong and why.
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