Module 1 - Session 2
Enter your name and email below to begin your quiz.
(To pass the quiz you must score a 90 or above. If you fail you
must retake the quiz before scheduling your coaching session. )
- 1.
What's the number one reason why most people fail in sales?
- A.
They keep getting no's
- B.
They spend too much time training
- C.
They don't take massive action
- D.
They don't have anyone to talk to
Correct Answer
C. They don't take massive action -
- 2.
Being coachable is not applicable to agents who have sales experience.
- A.
True
- B.
False
Correct Answer
B. False -
- 3.
Which of the following components are part of the Success Equation
- A.
Highly Developed Skills
- B.
Highly Developed Character
- C.
The company you work for
- D.
Investing time to execute what you learn
- E.
All of the above
Correct Answer
E. All of the above -
- 4.
When do you start making your list?
- A.
Before prospecting
- B.
After you begin prospecting
- C.
After obtaining your first statement
- D.
Never a good idea
Correct Answer
A. Before prospecting -
- 5.
You should only put people on your list who own businesses and process credit cards.
- A.
True
- B.
False
Correct Answer
B. False -
- 6.
Which of the following do you NOT put on your list?
- A.
Friends & family
- B.
Business associates
- C.
Merchants that already process with Fidelity
- D.
Businesses that you frequently patron
Correct Answer
C. Merchants that already process with Fidelity -
- 7.
How many people should an ambitious agent have on their list?
- A.
10-25
- B.
26-50
- C.
51-100
- D.
100-200+
Correct Answer
D. 100-200+ -
- 8.
What does low hanging fruit refer to?
- A.
Cold market
- B.
Friends and family
- C.
Supermarkets
- D.
All of the above
Correct Answer
B. Friends and family -
- 9.
Which of the following represents Fidelity's top competitors?
- A.
Banks
- B.
Software companies
- C.
Family and Friends
- D.
Other ISO's
- E.
All of the above
Correct Answer
E. All of the above -
- 10.
Which one of the following is an edge we have over competing banks?
- A.
Rates
- B.
Customer Service
- C.
Technology
- D.
All of the above
Correct Answer
D. All of the above -
- 11.
Banks are in the business of providing payment solutions.
- A.
True
- B.
False
Correct Answer
B. False -
- 12.
Software companies often require merchants to process with a specific processor.
- A.
True
- B.
False
Correct Answer
A. True -
- 13.
Fidelity offers competitive products or emulators that allow us to work with many software's that we are not able to integrate with.
- A.
True
- B.
False
Correct Answer
A. True -
- 14.
What percentage of transactions in the United States are processed by First Data?
- A.
10%
- B.
22%
- C.
36%
- D.
55%+
Correct Answer
D. 55%+ -
- 15.
What year was Fidelity founded?
- A.
1986
- B.
1991
- C.
1996
- D.
2006
Correct Answer
C. 1996 -
- 16.
What is Fidelity's retention rate?
- A.
35%
- B.
55%
- C.
75%
- D.
90%+
Correct Answer
D. 90%+ -
- 17.
Learning how to overcome objections is a skill you can master without experience.
- A.
True
- B.
False
Correct Answer
B. False -
- 18.
You can easily overcome an objection by knowing the rebuttal, even if you yourself are struggling with the answer.
- A.
True
- B.
False
Correct Answer
B. False -
- 19.
If you get asked a question by your merchant that you don't know the answer to you should make up an answer.
- A.
True
- B.
False
Correct Answer
B. False -
- 20.
When your merchant asks why you need a statement and asks for your best price, you should offer them rates on the spot.
- A.
True
- B.
False
Correct Answer
B. False -
- 21.
All card types carry the same cost.
- A.
True
- B.
False
Correct Answer
B. False -
- 22.
Our analytics team can determine a merchants profit margins on products that they sell or overall profitability by looking at their processing statement.
- A.
True
- B.
False
Correct Answer
B. False -
- 23.
What should you do when a merchant says he showed his statement to many companies and no one can beat his rates?
- A.
Thank him for his time and walk out
- B.
Explain how we've heard this many times and can often provide substantial savings
- C.
Guarantee him savings in hopes of getting the statement
- D.
Panic
Correct Answer
B. Explain how we've heard this many times and can often provide substantial savings -
- 24.
If a merchant says he's getting 20 calls per day, it's an automatic indication that he is not a prospect for you.
- A.
True
- B.
False
Correct Answer
B. False -
- 25.
When a merchant says he is happy, it's still worth put him in your pipeline to follow up at a later date.
- A.
True
- B.
False
Correct Answer
A. True -
- 26.
When a merchant says he's too busy, which of the following is he really saying?
- A.
He's really too busy
- B.
He's getting too many solicitations
- C.
His wife burnt last nights dinner
- D.
Could be any of the above *
Correct Answer
D. Could be any of the above * -
- 27.
Which would be a scenario where we can still board an account despite a merchants contract?
- A.
When agent is willing to pay the cancellation fee
- B.
When savings is enough to convince the merchant to pay the cancellation fee
- C.
If you can find a way out of the contract
- D.
All of the above
Correct Answer
D. All of the above -
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
-
Mar 21, 2022Quiz Edited by
ProProfs Editorial Team -
Sep 27, 2016Quiz Created by
Avromy Segal
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