Module 1 - Session 2 - Quiz & Trivia

1. All card types carry the same cost.

True

False

2. When do you start making your list?

Before prospecting

After you begin prospecting

After obtaining your first statement

Never a good idea

3. If you get asked a question by your merchant that you don't know the answer to you should make up an answer.

True

False

4. Being coachable is not applicable to agents who have sales experience.

True

False

5. What year was Fidelity founded?

1986

1991

1996

2006

6. When your merchant asks why you need a statement and asks for your best price, you should offer them rates on the spot.

True

False

7. If a merchant says he's getting 20 calls per day, it's an automatic indication that he is not a prospect for you.

True

False

8. When a merchant says he is happy, it's still worth put him in your pipeline to follow up at a later date.

True

False

9. Which of the following components are part of the Success Equation

Highly Developed Skills

Highly Developed Character

The company you work for

Investing time to execute what you learn

All of the above

10. Which of the following do you NOT put on your list?

Friends & family

Business associates

Merchants that already process with Fidelity

Businesses that you frequently patron

11. What should you do when a merchant says he showed his statement to many companies and no one can beat his rates?

Thank him for his time and walk out

Explain how we've heard this many times and can often provide substantial savings

Guarantee him savings in hopes of getting the statement

Panic

12. What percentage of transactions in the United States are processed by First Data?

10%

22%

36%

55%+

13. What is Fidelity's retention rate?

35%

55%

75%

90%+

14. You should only put people on your list who own businesses and process credit cards.

True

False

15. How many people should an ambitious agent have on their list?

10-25

26-50

51-100

100-200+

16. Which one of the following is an edge we have over competing banks?

Rates

Customer Service

Technology

All of the above

17. Banks are in the business of providing payment solutions.

True

False

18. Fidelity offers competitive products or emulators that allow us to work with many software's that we are not able to integrate with.

True

False

19. What's the number one reason why most people fail in sales?

They keep getting no's

They spend too much time training

They don't take massive action

They don't have anyone to talk to

20. Learning how to overcome objections is a skill you can master without experience.

True

False

21. What does low hanging fruit refer to?

Cold market

Friends and family

Supermarkets

All of the above

22. Which of the following represents Fidelity's top competitors?

Banks

Software companies

Family and Friends

Other ISO's

All of the above

23. Software companies often require merchants to process with a specific processor.

True

False

24. When a merchant says he's too busy, which of the following is he really saying?

He's really too busy

He's getting too many solicitations

His wife burnt last nights dinner

Could be any of the above *

25. Which would be a scenario where we can still board an account despite a merchants contract?

When agent is willing to pay the cancellation fee

When savings is enough to convince the merchant to pay the cancellation fee

If you can find a way out of the contract

All of the above

26. Our analytics team can determine a merchants profit margins on products that they sell or overall profitability by looking at their processing statement.

True

False

27. You can easily overcome an objection by knowing the rebuttal, even if you yourself are struggling with the answer.

True

False