Navigate Power Process And Best Practice
Questions and Answers
- 1.
When would an LOA be necessary?
- A.
When the customer does not wish to show you their usage
- B.
When customer usage history is not available online & must be gathered from LDC
- C.
When customer usage is smaller than 500,000 kWh
- D.
When customer usage is larger than 500,000 kWh
Correct Answer
B. When customer usage history is not available online & must be gathered from LDCExplanation
An LOA (Letter of Authorization) would be necessary when the customer usage history is not available online and must be gathered from the LDC (Local Distribution Company). This means that the customer has not provided consent for their usage information to be accessed electronically, and therefore, the LDC must obtain the information through other means, such as physical documents or direct communication with the customer.Rate this question:
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- 2.
How long does it take an RES (supplier) to return pricing?
- A.
6-12 Hours
- B.
1-3 Hours
- C.
1-3 business days
- D.
A week
Correct Answer
C. 1-3 business daysExplanation
The correct answer is 1-3 business days. This means that it takes the RES supplier between 1 to 3 business days to return pricing. Business days typically refer to weekdays, excluding weekends and public holidays. This timeframe allows the supplier enough time to process and provide the requested pricing information to the customer.Rate this question:
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- 3.
Added margins to the raw pricing presented by suppliers is typically added in "mils" meaning a:
- A.
Penny
- B.
Quarter of a penny
- C.
Quarter
- D.
Tenth of a penny
Correct Answer
D. Tenth of a pennyExplanation
The added margins to the raw pricing presented by suppliers are typically added in "mils," which refers to a tenth of a penny. This means that the suppliers add a small fraction of a penny to the raw pricing to cover their profit margin or other expenses.Rate this question:
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- 4.
A RES returns "Raw" pricing, meaning it has no built-in commission.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
This statement is true because a RES (Real Estate System) indeed provides "Raw" pricing, which means that it does not include any built-in commission. This means that the pricing provided by a RES is the base price without any additional fees or commissions added.Rate this question:
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- 5.
The LOE ( Letter of Exclusivity) forces a client to do business with one specific supplier.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The LOE (Letter of Exclusivity) does not force a client to do business with one specific supplier. It is a document that grants exclusivity to a supplier, meaning that the client agrees not to engage with any other suppliers for a specified period of time. However, the client is not obligated to do business with the exclusive supplier and can choose to work with other suppliers if they wish. Therefore, the statement is false.Rate this question:
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- 6.
What is the furthest start date we can price?
- A.
6-12 months from the current date
- B.
12-18 months from the current date
- C.
19-24 months from the current date
Correct Answer
C. 19-24 months from the current dateExplanation
The furthest start date that can be priced is 19-24 months from the current date. This means that the pricing can be done for events or projects that are scheduled to start within this time frame.Rate this question:
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- 7.
Which of the following describes an LOA (Letter of Authorization)?
- A.
A document that allows Navigate Power to exclusively price a deal
- B.
A document that allows Navigate Power to pull historical usage from the utility company
- C.
A document that is legally binding upon the client's signature
Correct Answer
B. A document that allows Navigate Power to pull historical usage from the utility companyExplanation
An LOA (Letter of Authorization) is a document that grants Navigate Power the permission to access and retrieve historical usage data from the utility company. This document enables Navigate Power to gather accurate information about the client's past energy consumption, which is essential for analyzing their energy needs and providing appropriate pricing and solutions. By having access to this data, Navigate Power can better understand the client's energy usage patterns and customize their services accordingly.Rate this question:
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- 8.
Can custom pricing take 5-7 business days to turn around?
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Custom pricing can take 5-7 business days to turn around because it involves a thorough analysis and evaluation of the specific requirements and needs of the customer. This process may require input from various departments within the company, including sales, finance, and operations. Additionally, custom pricing often involves negotiations and discussions with the customer to ensure that their unique needs are met. All of these factors contribute to the time required to finalize and deliver custom pricing, which can take several business days.Rate this question:
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- 9.
I can add usage from different meters to use for aggregated pricing if it has the same signer.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
This statement is true because if multiple meters have the same signer, it means that they are under the same ownership or management. In this case, it is possible to combine the usage data from these meters to calculate aggregated pricing. This can be beneficial for the signer as it allows them to have a comprehensive view of their overall energy consumption and negotiate better pricing or make more informed decisions regarding their energy usage.Rate this question:
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- 10.
When do I get paid for a deal if it's an annual upfront (12-month), supplier?
- A.
The next business day
- B.
Residually
- C.
3 months after the start month
- D.
Approximately 45 days after sign date
Correct Answer
D. Approximately 45 days after sign dateExplanation
The correct answer is "Approximately 45 days after sign date." This means that if the deal is an annual upfront (12-month) supplier, the payment will be received approximately 45 days after the date of signing the deal. This allows for some processing time and ensures that the supplier receives their payment in a timely manner.Rate this question:
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- 11.
Commissions are paid out on what date every month?
- A.
1st of the month
- B.
The 10th of the month
- C.
Last day of the month
Correct Answer
B. The 10th of the monthExplanation
Commissions are paid out on the 10th of every month. This means that individuals who are eligible for commissions can expect to receive their payments on this specific date each month.Rate this question:
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- 12.
How do I get a log-in, username and password for the Navigate Exchange (NEX)?
- A.
Email on-boarding to request login information with all my paperwork
- B.
Email [email protected] with my first and last name
- C.
Call my Channel Manager to request login information
Explanation
To obtain a log-in, username, and password for the Navigate Exchange (NEX), the correct approach is to send an email to [email protected]. In the email, one should include their first and last name. By following this process, the necessary login information can be requested and provided.Rate this question:
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- 13.
The Navigate Exchange (NEX) can custom price deals over 1 million kWh.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The statement is false because the Navigate Exchange (NEX) can only custom price deals up to 1 million kWh, not over 1 million kWh.Rate this question:
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- 14.
If you have a deal that uses 150,000 annual kWh and you put 5 mils on it at a commission rate of 30% what would your annual commission check be?
- A.
$225
- B.
$275
- C.
$325
- D.
$600
Correct Answer
A. $225Explanation
The annual commission check would be $225. This can be calculated by multiplying the annual kWh usage (150,000) by the commission rate (30%) and then dividing by 100. 150,000 * 30 / 100 = $45,000. Since 1 mil is equal to $1,000, the commission check would be $45,000 * 5 = $225.Rate this question:
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Current Version
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Mar 15, 2023Quiz Edited by
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Aug 14, 2014Quiz Created by
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