Module 1 - Session 2

27 Questions | Total Attempts: 372

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Module Quizzes & Trivia

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Questions and Answers
  • 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

  • 2. 
    Being coachable is not applicable to agents who have sales experience.
    • A. 

      True

    • 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

  • 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

  • 5. 
    You should only put people on your list who own businesses and process credit cards.
    • A. 

      True

    • 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

  • 7. 
    How many people should an ambitious agent have on their list?
    • A. 

      10-25

    • B. 

      26-50

    • C. 

      51-100

    • 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

  • 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

  • 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

  • 11. 
    Banks are in the business of providing payment solutions.
    • A. 

      True

    • B. 

      False

  • 12. 
    Software companies often require merchants to process with a specific processor.
    • A. 

      True

    • B. 

      False

  • 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

  • 14. 
    What percentage of transactions in the United States are processed by First Data?
    • A. 

      10%

    • B. 

      22%

    • C. 

      36%

    • D. 

      55%+

  • 15. 
    What year was Fidelity founded?
    • A. 

      1986

    • B. 

      1991

    • C. 

      1996

    • D. 

      2006

  • 16. 
    What is Fidelity's retention rate?
    • A. 

      35%

    • B. 

      55%

    • C. 

      75%

    • D. 

      90%+

  • 17. 
    Learning how to overcome objections is a skill you can master without experience.
    • A. 

      True

    • 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

  • 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

  • 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

  • 21. 
    All card types carry the same cost.
    • A. 

      True

    • 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

  • 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

  • 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

  • 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

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