Foundations of Banking and Credit
What are checking accounts, saving accounts, and money market accounts examples of;
*Types of Deposit Accounts
What are Manufacturers, Wholesalers, Retailers, and Service Companies;
The Four Basic Types of Businesses
What is the following statement an example of “As an experienced banker, I’ve had the opportunity to partner with many professionals in our community. If you refer your clients to me, you can be confident that they’ll receive quality service and that I’ll find ways to improve their financial operations”?
What is a value proposition.
What are the number of steps included in the high-impact sales process?
What is Christine's dog's name?
Callie
What are banking centers, telephones banking, mobile banking, and online banking examples of;
Various channels that clients can use to access banking.
What are Sole Proprietorships, Partnerships, Limited Liability Corporations (LLC’s) and Corporations?
Forms of Business Organizations
CPA’s, Attorney’s, Realtors, Chamber of Commerce members, Existing Clients, and Internal Partners are examples of.
The questioning strategy that begins with broad, open-ended, needs-oriented questions and narrows down to closed-ended, focused questions..
What is the Funnel Questioning Strategy.
Which banking center manager is part of the Military Veterans’ Impact Network leadership team?
Which U.S. entity is responsible for providing a safe, flexible, and stable monetary and financial system;
* The Federal Reserve
What is Creation, Development, Young-Operating, Middle-Aged, Mature, and Declining examples of?
Business Growth Stages.
What should you create/develop before reaching out to a prospect for the first time.
What is a pre-call plan.
This can help you build rapport and credibility, while differentiating yourself in a competitive marketplace.
What is a Value Statement.
Which CBMM is co-chair of the Abilities First Impact Network?
Kim Gunaka
Why do banks exist?
* To provide a return on investment for shareholders.
True or False-business owners only want you to understand if they need a checking account.
By doing this, you can ensure you have availability for prospecting activities.
What is regularly scheduling time
Addressing these three components (1. The company’s need; 2. The benefit/value that a product/service will provide; 3. The recommended solution) create what specific statement.
Why was the new wealth division called ‘1834’?
On the bank's balance sheet-is a customer deposit an asset or liability?
* Liability
It is important to research a business prior to a meeting to demonstrate interest and obtain baseline knowledge.
True
Learning the issues facing your COI’s, taking advantage of networking events, treating your network well, and maintaining sustained contact are examples of what?
What are Networking Best Practices.
These four actions will assist in resolving objections – hint: the actions start with these four letters (A, E, R, C).
What line of business did we recently exit?
Land Trust
What is "fractional reserve"?
Bank must hold a reserve in an amount equal to a fraction of the bank's deposit.
This represents a picture of a company’s financial condition at a fixed point in time.
Balance sheet
James is a client who has sent you many referrals which have generated new business. Is James an active or passive COI?
What is the most appropriate first step to take during an initial meeting with a business?
Ask exploring questions to understand operating strategies
Which 3 individuals in Kelly's region once were Small Business lenders while being employed here?
Kelly Cunningham, Tracy Fulton, and Monica Rubio
What is the main difference between Basel and Dodd-Frank?
Basel applies only to banks; Dodd-Frank applies to non-bank financial institutions.
This reports the results of a company’s operating activities during a period of time.
Income statement
Frank is a chamber member who you see frequently at networking events. You have exchanged a small number (less than 5) referrals over the past year. Is Frank an active or passive COI?
Passive
Why is it important to restate information gained from a business client during a conversation?
Ensures you have correctly heard what was stated; allows owner to correct information provided or provide more information; gives banker time to think of next question to ask (we can take any of the three answers provided)
What is Kelly's granddaughter name?
Amelia
What is the reason a loan portfolio contains loans of varying degrees of risk?
What does the abbreviation ROA mean?
What is the first step in prioritizing your COIs?
What is creating a working list.
What is the least effective question to ask about a business’ financial performance?
Was the business profitable over the past 3 years (or any period of time)
Who is the newest Market Manager in Kelly's region?
Rami Haleem
What is the relationship between pricing of a loan and risk?
What does the abbreviation ROE mean?
Return on Equity
What is the #1 best practice to utilize when contacting a prospect?
What is Plan.
Should you ask all financial relationship questions in one meeting?
Depends on time available and relationship
When will Vault Custodian rollout be completed in Kelly's region?
October 27, 2023
What is a common activity in managing credit risk for a bank?
Monitoring current relationships and take immediate action when risk changes.
What is money owed by a company for the purchase of goods/services?
Accounts payable
What is the next step after scheduling an appointment during an initial call to a prospect?
What is Follow up with an e-mail invitation?
What is the purpose of focused questions?
Which managers in Kelly Region teach Client's for life?
Nychi, Tracy, Marco (Kelly is al a correct answer)
These agreements provide regulatory guidelines and standards for managing risks within individual banks and systematically;
What are the Basel Accords.
What is money owed to a company for goods/services purchased?
Accounts receivable
What is a best practice for high performing prospecting?
Spend time prospecting every day • Build a network of centers of influence (COIs) • Ask COIs for referrals and introductions • Create a meaningful value proposition • Use online tools, web-monitoring services, and social media to expand leads and build their knowledge of the organizations they are targeting • Reach out to prospects in various ways: via e-mail or letter; by forwarding relevant articles, e-books, and white papers; sending invitations to relevant webinars and webcasts; and chatting at trade shows • Focus attention on those leads that are most likely to yield results • Plan all sales calls • Create and maintain a follow-up contact plan after calling upon a prospect
What is the purpose of open-ended questions?
Allows owner to open up and share information about goals, issues, and challenges.
What is Old National's annual volunteer event called?
Better Together days
This Act required a reorganization of several government agencies, creation of new ones, and adoption of capital and leverage ratios;
What is the Dodd-Frank Act.
What is the knowledge and understanding of the financial, marketing, and operational functions of a business?
Business Acumen
How many categories do referral sources fall into?
*5-Community, Internal partners, professionals, existing clients, and family, friends, and acquaintances.
What is underlying buying prefrence?
*Profitability goals
*Leverage goals
*Liquidity goals
*Cash balance
What is the largest event in Morris that Old National Bank participates in?
Grundy County Corn Festival
This institution acts as a financial intermediary, plays a key role in the transformation of assets, and provides liquidity to the market;
What is a bank.
How many steps are involved in the Operating Cycle of a Business?
Resolving Objections Model can help do what?
*Acknowledge
*Explore
*Resolve
*Check for Satisfaction
What is Desire to Change?
* Improving cash flow
*Maximizing surplus cash
*Refinancing
*Financing Future Capital Expenditures
*Funding acquisitions
What was Marco's first position when hired into the bank?
He was a teller at the Joliet Webster location.
On the bank’s balance sheet – is a customer loan an asset or a liability?
asset
Assets, Liabilities, and Shareholder’s Equity are the three major components of what financial document.
The Balance Sheet
Asking COI's for referrals and Introductions is a best practice. True or False
True
What is Qualify Needs?
Asset Conversion Cycle, Financial Performance, and Current Banking Relationships.
What is September Culture Topic?
Accountability Ladder