Trivia Questions Quiz On Debt Collection Process And Practices!

20 Questions | Total Attempts: 184

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Trivia Questions Quiz On Debt Collection Process And Practices! - Quiz

Welcome to the Trivia Questions Quiz on Debt Collection Process and Practices! Businesses are unable always to have been known to sell to some customers on credit, and the services of a debt collector are called upon to ensure that the monies are collected. Take this quiz and get to sharpen your skills in credit collection.


Questions and Answers
  • 1. 
    When a debtor indicates they want to pay but do not have funds today you should:
    • A. 

      Ask for convenient time to call back to get a payment

    • B. 

      Disregard the debtors statement and demand balance in full today

    • C. 

      Ask for down payment today and the balance in post dates

    • D. 

      Send an ADL letter, and stat sales/and client on refusal to pay

  • 2. 
    Before agreeing to post-dated checks on an account you should:
    • A. 

      Identify the source of funds for the checks

    • B. 

      Tell the debtor there is an $8 fee for each check

    • C. 

      Advise debtor to work out the plan and call you back to do the checks

    • D. 

      Make sure the checks are dated for the EOM to ensure credit this month

  • 3. 
    If a debtor refuses to do post dates to pay the account you should:
    • A. 

      Advise debtor this will be documented as a refusal to pay

    • B. 

      Agree to not require post dates and get a strong commitment to pay at a certain time each month

    • C. 

      Back away from the demand, reinforce the commitment to pay, and ask for post-dates again

    • D. 

      Put the account in status 65 and ask your manager to call to get post dates

  • 4. 
    From CRS you can access and save information from an Accurint report.
    • A. 

      True

    • B. 

      False

  • 5. 
    Most "Rude and Unprofessional" violations are the result of:
    • A. 

      The collector’s attitude on the call

    • B. 

      The collector getting in the last word

    • C. 

      A justified remark made in response to something a debtor said

    • D. 

      The collector yelling and screaming throughout the call

  • 6. 
    Failure to give the MRD (Monitored or Recorded line Disclosure) is a violation because:
    • A. 

      TSI may have violated privacy rights of the persons we spoke to

    • B. 

      TSI has decided to “play it safe” and give everyone the MRD

    • C. 

      Defending failure to give the MRD can be very expensive – as much as $5000 per violation

    • D. 

      All of the above

  • 7. 
    You can view when an account has been credit reported by hitting the
    • A. 

      Shift/6 keys

    • B. 

      Alt/6 keys

    • C. 

      Shift/3 keys

    • D. 

      Alt/3 keys

  • 8. 
    Getting post dates are:
    • A. 

      A waste of time.

    • B. 

      A great way to start you month off with fee already in the house.

    • C. 

      A way to work with debtors experiencing cash flow issues.

    • D. 

      Both B & C

  • 9. 
    In CRS, you can find additional phone information on:
    • A. 

      The B screen

    • B. 

      The F screen

    • C. 

      The N screen

    • D. 

      The P screen

    • E. 

      None of the above

  • 10. 
    To clear a field such as an address, contact or phone number in CRS, you hit the "Esc" button twice
    • A. 

      True

    • B. 

      False

  • 11. 
    RPC means
    • A. 

      Royal Police of Canada

    • B. 

      Real Pricey Computer

    • C. 

      Right Party Contact

    • D. 

      Right Person Called

  • 12. 
    By pressing the "=" while on an account, you can filter by action code transactions, such as SN to show what letters were sent and when or CS to see when the status code was changed and when.
    • A. 

      True

    • B. 

      False

  • 13. 
    In CRS from the "find by" menu, which option do you use to find a debtor by phone number or social security number?
    • A. 

      Option 1

    • B. 

      Option 2

    • C. 

      Option 3

    • D. 

      Option 4

  • 14. 
    According to the TSI Letter Series Policy, how many letters can be sent on an account with a balance of $1,000?
    • A. 

      None

    • B. 

      1

    • C. 

      2

    • D. 

      3

    • E. 

      As many as you want. There are no restrictions.

  • 15. 
    What is the correct way to have the contact name appear in the contact field of CRS?
    • A. 

      There is no correct way, it doesn't matter.

    • B. 

      A/P Department is fine

    • C. 

      The name of the decision maker

    • D. 

      Whatever quick notes you put there, as long as it fits, like "Offer SIF" or "Debtor is Rude"

  • 16. 
    We recently had a change in 3rd party disclosure policy that now allows us to give the client name.  When can we do that and it not be considered 3rd party disclosure?
    • A. 

      Whenever we need to

    • B. 

      Only if expressly asked by an individual at the debtor business we are calling

    • C. 

      Only on the 3rd or later call

    • D. 

      When leaving a message

    • E. 

      Change? What change?

  • 17. 
    Collectors sending emails must CC their manager on all emails unless they are personal in nature.  If they are personal, they must use the word personal in the subject line.
    • A. 

      True

    • B. 

      False

  • 18. 
    One of Santa's most famous reindeer is:
    • A. 

      Frosty

    • B. 

      Michael Stipe

    • C. 

      Cupid

    • D. 

      Rudolph

    • E. 

      All of the above

  • 19. 
    Breaking through the screen is an effective way to get to the RPC.
    • A. 

      True

    • B. 

      False

  • 20. 
    As a collector, you need to effectively manage your queue by properly dating your files. You can use your calendar in CRS to see how many accounts you have scheduled for each day to make sure you are not overloaded or build files for days you plan on being out.  To view your calendar,
    • A. 

      Hit the C key

    • B. 

      From the "find by" menu, the B key will take to you to your calendar in real time

    • C. 

      From the "options" menu, the B key will take to you to your calendar in real time

    • D. 

      You have to get your calendar from your manager

    • E. 

      Calendar? What calendar?

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