Saleslogix Opportunities & Forecasting (Mod 6)

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| By Gawaine Ward
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Gawaine Ward
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Forecasting Quizzes & Trivia

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Questions and Answers
  • 1. 

    After watching the SalesLogix Training on Opprotunities & Forecasting, do you have any additional questions?

  • 2. 

    What field in the opportunity section will determine if the LOB is on the open dashboard or the closed dashboard?

    • A.

      CSC

    • B.

      Status

    • C.

      Account Mgr.

    • D.

      All of the above

    Correct Answer
    B. Status
    Explanation
    The field "Status" in the opportunity section will determine whether the LOB (Line of Business) is displayed on the open dashboard or the closed dashboard. The status of an opportunity indicates its progress or stage in the sales process. If the status is set to "open," the LOB will be shown on the open dashboard, indicating that it is still being worked on. If the status is set to "closed," the LOB will be displayed on the closed dashboard, indicating that the opportunity has been completed or lost.

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  • 3. 

    When partnering with another rep on an account, who is responsible for entering the opportunities into SalesLogix?

    • A.

      The rep who has the territory

    • B.

      The rep who discovered the opportunity

    • C.

      Both reps with the forecast percentage of next revenue they have agreed to split

    • D.

      All of the above

    • E.

      None of the above

    Correct Answer
    C. Both reps with the forecast percentage of next revenue they have agreed to split
    Explanation
    When partnering with another rep on an account, both reps are responsible for entering the opportunities into SalesLogix. This is because they have agreed to split the forecasted percentage of the next revenue. By both reps entering the opportunities, they ensure that the information is accurately captured and shared between them.

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  • 4. 

    What status should an opportunity be once the account decides to go with a different provider?

    • A.

      Open

    • B.

      Closed-Won

    • C.

      Closed-Lost

    • D.

      Delete it

    • E.

      None

    Correct Answer
    C. Closed-Lost
    Explanation
    When the account decides to go with a different provider, the opportunity should be marked as "Closed-Lost." This status indicates that the opportunity has been lost to a competitor and will no longer be pursued. It allows the company to track and analyze the reasons for losing the opportunity and make necessary improvements in the future.

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  • 5. 

    What stage is the opportunity in once the prospect has accepted our fees and the account is set up?

    • A.

      Prospect

    • B.

      61-120

    • C.

      0-60

    • D.

      Committed

    • E.

      Closed-Won

    Correct Answer
    D. Committed
    Explanation
    Once the prospect has accepted our fees and the account is set up, the opportunity is in the "Committed" stage. This means that the prospect has made a commitment to move forward with the purchase or partnership and has taken the necessary steps to set up the account. This stage indicates that the deal is progressing and is likely to close successfully.

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  • 6. 

    In the opportunity section which field would you indicate that the LOB has been retained?

    • A.

      Status

    • B.

      Sales Type

    • C.

      State

    • D.

      CSC

    • E.

      Sold Date

    Correct Answer
    B. Sales Type
    Explanation
    The field "Sales Type" would indicate that the LOB (Line of Business) has been retained. This field is likely used to categorize or classify the type of sales made, and if the LOB has been retained, it would be reflected in the selected sales type.

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  • 7. 

    ABC Company has agreed to accept our CHB fees for their annual 6,000 entries.  Highgate and Atlanta CSC's will be processing the work.  Highgate will process 4,000 of the entries and Atlanta will process 2,000.  The client will be charged an entry fee of 12.00 each for Highgate and 70.00 for Atlanta entries.  Choose the option below that should be correct in forecasting these opportunities in SalesLogix.

    • A.

      Net Revenue for Atlanta CHB $420,000 Net Revenue for Highgate CHB $24,000

    • B.

      Net Revenue for Atlanta CHB $140,000 Net Revenue for Highgate CHB $48,000

    • C.

      Net Revenue for Atlanta CHB $70,000 Net Revenue for Highgate CHB $120,000

    Correct Answer
    B. Net Revenue for Atlanta CHB $140,000 Net Revenue for Highgate CHB $48,000
    Explanation
    The correct answer is based on the given information that Highgate will process 4,000 entries and Atlanta will process 2,000 entries. The client will be charged $12.00 per entry for Highgate and $70.00 per entry for Atlanta. Therefore, the net revenue for Highgate can be calculated by multiplying the number of entries (4,000) by the entry fee ($12.00), resulting in $48,000. Similarly, the net revenue for Atlanta can be calculated by multiplying the number of entries (2,000) by the entry fee ($70.00), resulting in $140,000.

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  • 8. 

    Using the above example what would be the correct forecasting if two reps are partnering and they are splitting the net revenue 50/50?

    • A.

      Net Revenue for Atlanta CHB $70,000 Net Revenue for Highgate CHB $120,000

    • B.

      Net Revenue for Atlanta CHB $25,000 Rep A Net Revenue for Atlanta CHB $25,000 Rep B Net Revenue for Highgate CHB $50,000 Rep A Net Revenue for Highgate CHB $50,000 Rep B

    • C.

      Net Revenue for Atlanta CHB $70,000 Rep A Net Revenue for Highgate CHB $24,000 Rep A Net Revenue for Atlanta CHB $70,000 Rep B Net Revenue for Highgate CHB $24,000 Rep B

    • D.

      All of the above

    Correct Answer
    C. Net Revenue for Atlanta CHB $70,000 Rep A Net Revenue for Highgate CHB $24,000 Rep A Net Revenue for Atlanta CHB $70,000 Rep B Net Revenue for Highgate CHB $24,000 Rep B
    Explanation
    The correct answer is the combination of the net revenues for Atlanta CHB and Highgate CHB, with Rep A and Rep B each receiving 50% of the total revenue for their respective locations. Therefore, the correct forecasting would be Net Revenue for Atlanta CHB $70,000 Rep A, Net Revenue for Highgate CHB $24,000 Rep A, Net Revenue for Atlanta CHB $70,000 Rep B, and Net Revenue for Highgate CHB $24,000 Rep B. This ensures that both reps are splitting the net revenue 50/50.

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  • 9. 

    What is the importance of adjusting the Estimated Close Date of opportunities in SalesLogix?

    • A.

      Accurate open dashboards

    • B.

      Warehouse space projections

    • C.

      Staffing resources

    • D.

      Pipeline managment

    • E.

      All of the above

    Correct Answer
    E. All of the above
    Explanation
    Adjusting the Estimated Close Date of opportunities in SalesLogix is important for several reasons. Firstly, it ensures accurate open dashboards by reflecting the most up-to-date information on when deals are expected to close. This helps sales teams prioritize their efforts and focus on opportunities that are likely to close soon. Secondly, it allows for accurate warehouse space projections, as the estimated close dates can be used to anticipate future orders and allocate storage accordingly. Thirdly, adjusting the Estimated Close Date helps in staffing resources effectively by providing insights into upcoming workload and resource requirements. Lastly, it aids in pipeline management by providing a clear view of the sales pipeline and allowing for better forecasting and decision-making.

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  • 10. 

    If ABC Company has been lost in the last 6 months and you have regained the business, what would be the correct Sales Type to enter before closing the opportunity?

    • A.

      New

    • B.

      New Existing

    • C.

      Retained

    • D.

      Saved

    Correct Answer
    D. Saved
    Explanation
    The correct Sales Type to enter before closing the opportunity would be "Saved". This is because the company was previously lost, but has now been regained, indicating that the opportunity was saved.

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  • 11. 

    Last year we secured ABC Company's CHB business.  This year through your hard work and cross selling efforts IFF has now been secured.  Which Sales Type would you chose to enter in SalesLogix?

    • A.

      New

    • B.

      New Existing

    • C.

      Retained

    • D.

      Saved

    Correct Answer
    B. New Existing
    Explanation
    The correct answer is "New Existing." This is because the question mentions that the company has secured a new business with IFF, indicating that it is a new client. However, it also mentions that ABC Company's CHB business was secured last year, suggesting that there is an existing relationship with ABC Company. Therefore, the Sales Type "New Existing" would be appropriate to indicate that the business with IFF is new, while also acknowledging the existing relationship with ABC Company.

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  • 12. 

    Where should all documentation "fee quotes, credit application, warehouse rates" be inserted for visibility and support of working the sales process for all accounts?

    • A.

      Details tab

    • B.

      Attachment tab

    • C.

      Activity tab

    • D.

      Notes tab

    Correct Answer
    B. Attachment tab
    Explanation
    All documentation such as fee quotes, credit applications, and warehouse rates should be inserted in the Attachment tab for visibility and support of working the sales process for all accounts. This tab is specifically designed for attaching files and documents related to the sales process, making it the most appropriate place to store and access these types of documentation.

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  • 13. 

    When reviewing your monthly committed report, which two stages determine what data is on the report?  Check all that apply.

    • A.

      Prospect

    • B.

      Quote

    • C.

      61-120

    • D.

      0-60

    • E.

      Committed

    Correct Answer(s)
    D. 0-60
    E. Committed
    Explanation
    The stages that determine what data is on the monthly committed report are "0-60" and "Committed". These stages represent the different phases of the sales process. The "0-60" stage refers to the initial phase where prospects are identified and engaged. The "Committed" stage represents the final stage where deals are closed and customers have made a commitment to purchase. Including these two stages in the report ensures that all relevant data related to potential leads and closed deals is captured and analyzed.

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