Becoming a Sales Champion Module 1-3 Quiz

Question 1 of 24

Relationship selling means…

(check all that apply)

We will never sell something to a member that they don’t need.
We never push a member to make a decision.
Members can save money, make money, save time, or achieve peace-of-mind based on a need that we identify.
We try to improve our members’ financial well-being through long-term relationships.

Question 2 of 24

In the survey mentioned in this module, what percent of credit union members responded favorably to the question, “How would you feel toward credit union employees making suggestions about products and services that would improve your financial life?”

98.1%
76.1%
52.5%
86.2%

Question 3 of 24

What do members want from a financial institution?

(check all that apply)

Members want an adequate solution to their problems with a positive result.
Members want value-added service that exceeds their expectations.
Members want a consultant they can trust who has their best interests in mind.
Members just want to get their banking done without anyone discussing ways to improve their financial well-being.

Question 4 of 24

Which of the following is NOT a reason people are reluctant to sell something?

Lack of knowledge about a product or service.
Not wanting to appear pushy.
Fear of rejection.
Meeting a sales quota.

Question 5 of 24

Members look to us as experts and trust our recommendations as long as we focus on individual members and their needs.

True
False

Question 6 of 24

Relationship selling is important because it allows us to create and keep members.

True
False

Question 7 of 24

Relationship selling is based on a win-win philosophy that says a good sale is one that benefits both the member and the credit union.

True
False

Question 8 of 24

When we sell something to members based on their financial needs, we provide excellent service.

True
False

Question 9 of 24

Relationship selling looks beyond the transaction and seeks to establish an ongoing relationship between the member and the credit union.

True
False

Question 10 of 24

To meet our sales goals, sometimes we need to push members through the buying process faster than they’re willing to go.

True
False

Question 11 of 24

The statement “I’d be happy to do that for you, and while I do so, if I see any other ways to save you money, save you time, or make you money, I’m going to let you know along the way.” is an example of which element of building trust and rapport?

Asking the member if they have time constraints.
Repurposing the conversation.
Asking open-ended questions.
Actively listening.

Question 12 of 24

Which of the following is NOT a good way of showing members that you are listening to them?

Taking notes.
Walking them to a manager on duty.
Nodding and repeating what a member has said thus far for clarification.
Making eye contact.

Question 13 of 24

Using a member’s name 3 times during an interaction gives them a 75% chance to remember that you used their name.

True
False

Question 14 of 24

One step in the selling process is identifying a member’s need. We can do this by:

Sending them targeted marketing materials through the mail.
Listening, observing and asking open-ended questions.
Prospecting.
Telemarketing.

Question 15 of 24

Looking at a summary of products/services, account balances or noticing a member has never logged into digital banking are all examples of what?

Observing to identify a potential need.
Listening to identify a potential need.
Asking open ended questions to identify a potential need.
Asking benefit questions to identify a potential need.

Question 16 of 24

If you observe an unusually high balance in a standard savings account, you may want to suggest which of the following:

An investment product which earns higher interest.
A secondary savings account.
A checking account with no monthly fees.
Safe deposit box.

Question 17 of 24

If you observe a member making her last car payment, after congratulating her, you may want to suggest which of the following:

A checking account.
A new car loan in the future.
A savings account.
A CD.

Question 18 of 24

If a member mentions they are going on vacation soon, which products would be appropriate to suggest to them?”

(check all that apply)

A vacation savings account.
A credit card.
A checking account.
A home equity line of credit.

Question 19 of 24

Which of the following would you recommend to someone who states, “I’m in a hurry to get back to my office”?

(check all that apply)

ATM.
Mobile deposit.
Online banking.
Mobile banking app.

Question 20 of 24

When we are unable to determine need through things we see or hear from our members, we must ask questions. Which of the following are good questioning techniques for identifying needs?

(check all that apply)

Household and demographic questions.
Benefit questions.
Open-ended questions.
Closed-ended questions.

Question 21 of 24

“What rate are you currently paying on your car loan?” is an example of a benefits question.

True
False

Question 22 of 24

Benefit questions tell us where to go next with the conversation.

True
False

Question 23 of 24

Which of the following does NOT apply to benefit questions?

Clarifies the benefit the member can receive from the product or service.
Can begin with “Would you?”, “What if?” or “How would you like to?”
Helps with marketing collateral.
Gets the member interested in hearing more.

Question 24 of 24

Open-ended questions begin with Who, What, Where, When, How and Why.

True
False