Volume Discounts
Fixed / Flat / Capped Fee
Success Fees
Blended Rates
Other Mechanisms
100

The preferred reset date for volume discounts.

What is January 1?

100

The final billed amount if worked $50K and fixed fee is $60K.

What is $60K?

100

These arrangements align ____ of the firm and client.

What are incentives?

100

Blended rates are generally calculated by factoring in rates and _____

What is % of work (from each TK)?

100

Client type that deferrals are most commonly used for

What is a start-up?

200

The typical number of tiers

What is 4-6?

200

The final billed amount if actually worked $70K and fixed fee is $60K.

What is $60K?

200

Success fees only have one instance of success they are based on. True / False

What is false?

200

Blended rates are usually used when then firm can push work to ______

What are lower cost resources?

200

The subgroup that as a preapproved ability to offer a 25K deferral amount.

What is ECVC?

300

While AFAs and hourly matters all count towards the volume, only these arrangements receive the benefit of the volume discount.

What are hourly matters?

300

The final billed amount if worked $70K and cap of $50K.

What is $50K?

300

The most important item with success fees is how ____ is defined. 

What is success?

300

The benefit to the client for blended rates

What is "get some resources for cheap" or "ease of administration" (less rates to factor in)?

300

Deferrals mean we are doing free work for client true/ false.

False - deferring the requirement for the client to pay, but they do indeed still need to pay.

400

The volume is typically based on these fees. 

(hint: think of the profitability waterfall)

Billed or collected
400

The final billed amount if worked $40K and cap of $50K.

What is $40K?

400

Two variations of how the amount of the success fee is determined.

- pre-determined lump sum

- % of fees incurred or

- % of damages / recovery / savings

400

2 variations on the blended rate

- Matter level (all TKs one rate)

- One rate per title

- One rate for attys vs one rate for non attys

400

The Le[a]d better initiative is meant to benefit clients with what characteristic.

What is owned / or in a sr exec role?

500

The hoped for benefit to the firm

What is "the client will send us more work"?

500

When proposing a fixed fee and a capped fee for the same piece of work, the [insert] should be higher than the [insert] proposal.

What is "the cap should be higher than the fixed fee"?

500

An AFA that success fees can be coupled with.

What is fixed or flat fee?

500

A reason some people might not consider blended rates an AFA

What is "Still based on inputs (hours) / repackaging of hourly rates"?
500

A reason we might offer (or be asked to provide) a "get up to speed credit"

- Client transitioning firms

- Perkins transitioning timekeepers

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