Verba Certification Practice Exam
A "Verba Certified" person is able to state the following with confidence:
1. I am aware of all the Verba tools that are available to me within the Verba Software ecosystem.
2. I can understand all of the Verba tools' intended functionality.
3. I can think competitively about textbook buying, pricing, and policies.
4. I am proficient in using a majority of the Verba tools (though not necessarily all of them).
Statements 1, 2, and 3 are weighted more heavily in the Full Exam than statement 4, meaning that you can be less knowledgable on how to use a Read morefew modules and still pass the overall exam. Don't sweat it - you probably know more than you think you do. :)
This sample quiz of 15 short questions represents some of the more complicated concepts in the exam. It's also paired with a few "cheat sheets" that help you focus your studying on the right concepts.
The Certification Exam is scheduled into Boot Camp, but don't worry if you don't pass - you'll be able to take the Exam again online after you've soaked up all the knowledge that you gained at Boot Camp!
See you all in a few weeks!
- 1.
There will be a few general questions in the Exam that pertain to "whole ecosystem" issues and concepts:
- 2.
We'll also ask you questions about using, customizing, and maximizing the effectiveness of Verba Compare:
- 3.
As the newest tool, Dynamic Pricing is perhaps the most difficult aspect of Verba Compete right now. We'll test you on its purpose, functionality, and best practices - make sure to reference the study guide for this module:
- 4.
Buyback pricing is the simplest cost-saver in Verba Compete. We'll test you on basic functionality and higher level concepts, but don't expect as many questions in this module:
- 5.
Online Sourcing is made easier and more efficient through Verba Compete - but a powerful tool has a small learning curve. In this module, expect questions about functionality (both easy and a little more complicated), best practices, and marketplace trends:
- 6.
While only a subset of Verba clients subscribe to Verba Collect, in order to be Verba Certified you'll still need to be aware of its basic concepts and functionality. Don't worry about the higher-level concepts here if you don't use the product - just focus on the basics and you'll be fine:
- 7.
Amazon has the most penetration in the online buyback market, so keep their buyback pricing in mind. If the Amazon buyback price is the highest available online, then you should try to be equal to their price or a little higher.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The explanation for the given correct answer is that Amazon has the highest penetration in the online buyback market. This means that they have a significant presence and dominance in this market. Therefore, it is advisable to keep their buyback pricing in mind. If the buyback price offered by Amazon is the highest available online, it would be beneficial to match or slightly exceed their price in order to remain competitive and attract customers.Rate this question:
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- 8.
Dynamic Buyback strives to place your buyback pricing as close to the AVERAGE online buyback price as possible.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
Dynamic Buyback does not strive to place your buyback pricing as close to the AVERAGE online buyback price as possible.Rate this question:
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- 9.
With the "hashcode" link that's received via email, a user can always access Verba Collect without a password.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement is true because with the "hashcode" link received via email, a user can bypass the need for a password to access Verba Collect. This link serves as a unique identifier for the user, granting them direct access to the platform without the need for additional authentication. This can be convenient for users who may have forgotten their password or prefer a more streamlined login process.Rate this question:
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- 10.
Professors are able to use Verba Collect to assign themselves to their courses, even before the Registrar knows that they're teaching those courses.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Professors can use Verba Collect to assign themselves to their courses before the Registrar is aware of their teaching assignments. This suggests that Verba Collect allows professors to take proactive action in managing their courses, enabling them to secure their teaching positions independently and potentially streamline the administrative process.Rate this question:
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- 11.
The four "approval" statuses in Verba Collect are:
- A.
Reviewed
- B.
New
- C.
Edited
- D.
Approved
- E.
Complete
- F.
Submitted
- G.
Incomplete
Correct Answer(s)
A. Reviewed
D. Approved
F. Submitted
G. IncompleteExplanation
The correct answer is Submitted, Reviewed, Approved, Incomplete. In Verba Collect, these are the four "approval" statuses that can be assigned to a task or a document. When a task or document is submitted, it means that it has been completed and is ready for review. After review, it can be either approved or marked as incomplete, depending on the outcome of the review process. This sequence of statuses ensures a systematic workflow and allows for proper tracking and management of tasks and documents.Rate this question:
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- 12.
Which one of the following statements is true of "fully-managed" affiliates in Verba Compare?
- A.
Commissions earned from "fully-managed" affiliates are pooled together in order to earn a higher commission percentage for Verba clients.
- B.
"Fully-managed" affiliates include rental, digital, eChapter, new, and used price variant options.
- C.
Commissions earned from "fully-managed" affiliates are paid from Verba to the bookstore on a semi-annual basis.
- D.
All of the above.
Correct Answer
D. All of the above.Explanation
"Fully-managed" affiliates in Verba Compare include rental, digital, eChapter, new, and used price variant options. Commissions earned from these affiliates are paid from Verba to the bookstore on a semi-annual basis. Additionally, commissions earned from "fully-managed" affiliates are pooled together to earn a higher commission percentage for Verba clients. Therefore, all of the above statements are true.Rate this question:
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- 13.
Bookstores should do everything that they can to increase the dollar amount earned from affiliate commissions in Verba Compare.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
Bookstores should not necessarily do everything they can to increase the dollar amount earned from affiliate commissions in Verba Compare. While it is important to maximize revenue, focusing solely on affiliate commissions may not be the most effective strategy. Bookstores should consider other factors such as customer satisfaction, brand reputation, and overall profitability. It is important to strike a balance between increasing affiliate commissions and maintaining a positive customer experience.Rate this question:
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- 14.
Define "Recommendation," as it pertains to Dynamic Pricing. A "Recommendation" is:
- A.
A group of multiple price suggestions for an ISBN - new, used, and rental variants.
- B.
A single suggestion to either raise or lower a single price for your upcoming term.
- C.
A required change to your retail pricing, which cannot be manually edited.
- D.
An entire group of suggestions for all ISBNs in a specific catalog.
Correct Answer
B. A single suggestion to either raise or lower a single price for your upcoming term.Explanation
A "Recommendation" in the context of Dynamic Pricing refers to a single suggestion to either increase or decrease a single price for an upcoming term. It does not involve multiple price suggestions for different variants or catalogs, nor is it a required change that cannot be manually edited. The recommendation is a specific suggestion to adjust a single price based on market conditions or other factors.Rate this question:
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- 15.
What does “Unable to Lower" mean in Dynamic Pricing? A title in the "Unable to Lower" category:
- A.
Is missing so much data that Verba cannot lower the price.
- B.
Has not been analyzed by Verba, and thus does not have a Recommendation.
- C.
Will never have a lower Recommendation, regardless of changes to cost, estimated sales, or online pricing.
- D.
Cannot be priced competitively at this time, most probably due to high bookstore cost and low online retail pricing.
Correct Answer
D. Cannot be priced competitively at this time, most probably due to high bookstore cost and low online retail pricing.Explanation
The term "Unable to Lower" in Dynamic Pricing refers to a category of items that cannot have their prices reduced. This is typically because these items have high bookstore costs and low online retail pricing, making it impossible to price them competitively at the moment. The inability to lower the price is a result of the unfavorable cost and pricing conditions for these items.Rate this question:
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- 16.
It's possible for bookstores to be both competitive and profitable.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Bookstores can be both competitive and profitable because competition in the market can drive booksellers to offer a wide range of books, competitive prices, and excellent customer service to attract customers. By staying competitive, bookstores can increase their customer base and generate higher sales, leading to profitability. Additionally, bookstores can explore different revenue streams such as hosting events, selling merchandise, or offering online services to further enhance their profitability. Therefore, it is possible for bookstores to thrive in a competitive market and be profitable at the same time.Rate this question:
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- 17.
"Rush Date" is defined in Verba Compete as:
- A.
The date on which overall sales are expected to peak, including in-store and online traffic taken together.
- B.
The first day of classes.
- C.
The first day you open your website for online textbook purchases.
- D.
The date of highest foot traffic in-store.
Correct Answer
A. The date on which overall sales are expected to peak, including in-store and online traffic taken together.Explanation
The correct answer is "The date on which overall sales are expected to peak, including in-store and online traffic taken together." This definition suggests that a "Rush Date" is the day when the highest level of sales is anticipated, considering both in-store and online activities. It implies that this is a crucial date for businesses, as it represents a peak in customer engagement and purchasing behavior.Rate this question:
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- 18.
Which of the following is NOT a goal of Online Sourcing?
- A.
Sell cheap books to the online marketplace.
- B.
Track packages as they come into your store.
- C.
Assist with the reconciliation of credit card statements.
- D.
Increase the effectiveness of Dynamic Pricing for your upcoming rush.
Correct Answer
A. Sell cheap books to the online marketplace.Explanation
The goal of online sourcing is to find and purchase products or services at the best possible price from online suppliers. It involves identifying reliable suppliers, negotiating prices, and ensuring timely delivery. Selling cheap books to the online marketplace is not a goal of online sourcing as it focuses on purchasing rather than selling.Rate this question:
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- 19.
I should source often from the online marketplace, as new deals become available every hour of every day.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement suggests that the online marketplace constantly offers new deals, implying that one should source often from it. This means that by frequently checking the online marketplace, one can take advantage of the constantly changing deals and potentially find better offers or discounts. Therefore, the answer "True" indicates that sourcing often from the online marketplace is recommended to benefit from the available deals.Rate this question:
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- 20.
In Dynamic Pricing, it is necessary to evaluate every book and all prices in a given term to make your catalog competitive.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
In Dynamic Pricing, it is not necessary to evaluate every book and all prices in a given term to make your catalog competitive. Dynamic pricing involves adjusting prices based on various factors such as demand, competition, and market conditions. This means that not all books and prices need to be evaluated, as the focus is on optimizing prices for specific products or categories to remain competitive in the market.Rate this question:
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- 21.
In Dynamic Pricing, what does Verba ideally suggest I do for my "less confident" Recommendations?
- A.
Wait for more information & check to see if new Recommendations are available tomorrow.
- B.
Research, proceed with individual discretion, & work those Recommendations.
- C.
Ignore these Recommendations altogether.
- D.
A, B or C depending on time constraints.
Correct Answer
D. A, B or C depending on time constraints.Explanation
Verba suggests that for "less confident" recommendations in dynamic pricing, the ideal approach would be to wait for more information and check if new recommendations are available tomorrow. However, if time constraints allow, one can also research, proceed with individual discretion, and work on those recommendations. It is not advisable to ignore these recommendations altogether, as they may still provide valuable insights depending on the situation and time available.Rate this question:
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Quiz Review Timeline +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Mar 21, 2023Quiz Edited by
ProProfs Editorial Team -
Jan 20, 2014Quiz Created by
Verba
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