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