Verba Certification Practice Exam

15 Questions | By Verba | Updated: Mar 21, 2022 | Attempts: 188

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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 few 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 shor

Questions and Answers

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
8.

Dynamic Buyback strives to place your buyback pricing as close to the AVERAGE online buyback price as possible.
- A.
  
  True
- B.
  
  False
9.

With the "hashcode" link that's received via email, a user can always access Verba Collect without a password.
- A.
  
  True
- B.
  
  False
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
11.

The four "approval" statuses in Verba Collect are:
- A.
  
  Reviewed
- B.
  
  New
- C.
  
  Edited
- D.
  
  Approved
- E.
  
  Complete
- F.
  
  Submitted
- G.
  
  Incomplete
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.
13.

Bookstores should do everything that they can to increase the dollar amount earned from affiliate commissions in Verba Compare.
- A.
  
  True
- B.
  
  False
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.
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.
16.

It's possible for bookstores to be both competitive and profitable.
- A.
  
  True
- B.
  
  False
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.
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.
19.

I should source often from the online marketplace, as new deals become available every hour of every day.
- A.
  
  True
- B.
  
  False
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
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.