Chapter 1
Which of the following is an activity associated with prospecting?
A. Prequalifying prospects
B. Asking the prospect to buy
C. analyzing the prospect's situation
Prequalifying prospects
In the Selling Process, what is the one objective in the "Approach the Prospect" step?
A. Set the appointment
B. Develop rapport
C. Determine their need
A. Set the appointment
Which of the following would describe an agent's "general" market?
A. Friend and relatives
B. Women business owners
C. Population within 15 miles of the office
C. Population within 15 miles of the office
Johnny Depp sells life insurance. Which of the following statements about Johnny would be relevant for defining his product?
A. He is an avid golfer
B. He has $50,000,000 in life insurance
C. He meets income replacement needs for clients
C. He meets income replacement needs for clients
A. His aunt and uncle who live with him on Tatooine
B. A co-worker of his friend, Han Solo
C. C-3P0, an orphaned account owner
D. The lady standing at the counter in Jabba's Throne Room
A. His aunt and uncle who live with him on Tatooine
Sophia, whose daughter is 8 months old, has been reading a few books on 529 plans. In which stage of the buying process is Sophia?
A. Information Search
B. Problem recognition
C. Evaluation of alternatives
Evaluation of Alternatives
What is the acronym for FEAR in prospecting/sales?
A. Face Everyone And Roar
B. False Evidence Appearing Real
C. Face Everything and Rise
D. Forgetting Everything About Reality
B. False Evidence Appearing Real
Age, gender, education, ethnicity, occupation, income, and martial status are characteristics of which segmentation variables?
A. Geographic
B. Demographic
C. Psychographic
D. behavioristic
B. Demographic
Sia wants to market to partners in law firms in her city. She doesn't know any lawyers personally, but her office is in same building as the Bar Association. All of the following are correct, EXCEPT:
A. It is a natural market for Sia on the basis of affinity
B. It meets the definition of target market
C. It is a market segment
D. Sia is an amazing singer
A. It is a natural market for Sia on the basis of affinity
A. Divide the number of phone contacts you made by the total number of appointments
B. Divide the total amount of commissions earned by the total number of telephone contacts
C. Divide the number of appointments made by the number of qualified prospects
B. Divide the total amount of commissions earned by the total number of telephone contacts
All of the following decribe client-focused selling EXCEPT:
A. It cultivates mutually beneficial relationships with clients.
B. It uses advisor-centered, manipulative, high pressure strategies.
C. It creates solutions that reflect client goals, values, and needs.
It uses advisor-centered, manipulative, high pressure strategies.
There are 3 types of people in the word, which are you?
A. One who makes things happen
B. One who watches things happen
C. One who wonder what happened
A. One who makes things happen.
(if you got this wrong, deduct 500 points!)
Which of the following statements best defines a value proposition?
A. Compelling reason offered to prospects to buy products and to buy from you
B. A criteria for evaluating the viability of a target market
C. Alternate approach that a company can use to select and target markets
A. Compelling reason offered to prospects to buy products and to buy from you
All of the following statements would be appropriate for positioning a life policy for a young middle-class family with less than $100,000 in assets, EXCEPT:
A. What would happen to your family if you were not there?
B. How would your absence affect your child's college education?
C. Life insurance helps secure your family's current lifestyle and finance their goals and dreams.
D. Life insurance helps you pay the cost of estate taxes so you can pass along all your estate to your heirs.
D. Life insurance helps you pay the cost of estate taxes so you can pass along all your estate to your heirs.
All of the following statements about the referral process are correct EXCEPT:
A. You borrow the trust the referred lead has in the referrer
B. In their highest form, referrals are unsolicited
C. You eliminate the need for making telephone calls
D. The most common cause of referral reluctance is fear of rejection
C. You eliminate the need for making telephone calls
All of the following are characteristics of a qualified prospect EXCEPT:
A. needs and values your product and/or services
B. Is suitable for your product or service
C. Has bought your product or service at least once
D. Can be approached on a favorable basis
C. Has bought your product or service at least once
All of the following is true of "Doers" EXCEPT:
A. Doers communicate
B. Doers create plans
C. Doers drink coffee
D. Doers believe
C. Doers drink Coffee
Which of the following is the most important aspect of establishing the position of your personal brand?
A. implementing appropriate prestige-building activities
B. Creating a logo
C. Delivering what you promised in your value proposition
C. Devising a targeted advertising campaign
C. Delivering what you promised in your value proposition
As you develop your marketing strategy, you should do all the following, EXCEPT:
A. Keep your name in front of the target market
B. Build a reputation as an expert advisor in your target market.
C. Look for new, relevant, and meaningful ways to distinguish yourself from the competition
D. Offer products via personalized email in order to connect with prospects.
D. Offer all products via personalized email in order to connect with prospects.
Record keeping is important to successful prospecting for all the following reasons, EXCEPT:
A. You can make better decisions if you have data to analyze
B. You will have a basis for planning daily, weekly, monthly, and annual marketing and prospecting activities
C. You will be better able to diagnose problem areas that need support
D. You will be assured of a successful career in insurance sales
D. You will be assured of a successful career in insurance sales
Bruno Mars is deciding what to say to his prospect to set an appointment. To which of the following steps of the selling/planning process does Bruno's activity relate most?
A. Identify the Prospect
B. Approach the Prospect
C. Meet the Prospect
B. Approach the Prospect
What are included in Maslow's Hierarchy of Needs?
A. Individualism
B. Esteem
C. Security
D. Affiliation
a. Individualism
A. Identify a relevant, unique position
B. Put it in writing
C. Monitor and protect it
D. Avoid sharing personal content on social media
D. Avoid sharing personal content on social media.
In which of the following situations is Tony Stark a nominator?
A. Tony asks his client, Jennifer Lopez, for referrals.
B. Tony's best friend, Happy Hogan, gives Tony's name to a stock broker
C. Tony tells his stock broker to call his friend, Peter Parker
C. Tony tells his stock broker to call his friend, Peter Parker
In general, COI's can be found in all of these areas EXCEPT:
A. Someone active in a community
B. Someone who is sought out for advice by the community
C. Someone who is a giver, not a taker
D. Someone who is currently incarcerated
D. Someone who is currently incarcerated