L2 Unit – 5 – Quiz - Wealth Management Course that Top Wealth Managers Swear By

Question 1 of 25

1. Question

Which of the following should Wealth Managers have a clear view on, for CRM to work?

Efficiency of Services Delivered
Cost Reductions
Convenience in Dealing with WM Organization
All of the above

Question 2 of 25

2. Question

Which of the following CRM dominant characteristic is a core customer-centric business strategy that aims at winning and keeping profitable customers

Strategic
Operational
Analytical
Collaborative

Question 3 of 25

3. Question

Which of these is not a part of influence market ?

labor markets
Government
Shareholders
Regulators

Question 4 of 25

4. Question

Which of the following is the last phase in CRM implementation ?

Implement the project
Evaluate performance
Specify needs and select partner
Build the CRM project foundations

Question 5 of 25

5. Question

____________occurs when the customer is not fully sure that the product will do what is required.

Physical risk
Performance risk
Financial risk
Social risk

Question 6 of 25

6. Question

The first step in the market segmentation process is to

Define the Market
Position Offer in the Market
Segment the Market
Target the Market

Question 7 of 25

7. Question

Company’s “Customer Relationship Capital” is another name of

Dissatisfied Customers
Satisfied Customers
Customer Conversion
Customer Retention

Question 8 of 25

8. Question

_____________offer a second-level indicator of advertisement effectiveness.

Conversion rate
Response rate
Level 1 rate
1 indicator rate

Question 9 of 25

9. Question

_______ are generally easier to break than structural bonds.

Technology bonds
Legal bonds
Social bonds
Interpersonal bonds

Question 10 of 25

10. Question

The main drawback of CRM is

Implementing CRM before creating a customer strategy
Rolling out CRM before changing the organization to match
Stalking, not wooing, customers
All of the above

Question 11 of 25

11. Question

Which of the following is not correct about Analytical CRM?

It captures, stores, extracts, integrates, processes, interprets, distributes, uses and reports customer-related data to enhance both customer and company value
It offers the company the prospect of more powerful cross-selling and up-selling programmes
It does not help companies to decide their selling approach for the customer groups
Customer information forms the foundation of this CRM

Question 12 of 25

12. Question

The core processes involved in paynes’s model include

Strategy development process
the value creation process
The multichannel integration process
All of the above

Question 13 of 25

13. Question

______________are generated by existing, satisfied customers through their unpaid advocacy. Word-of mouth is recognized as powerfully persuasive because it is regarded as being independent and unpaid.

Referrals
Cost to serve
Higher prices
Revenue

Question 14 of 25

14. Question

_________are attributes and variables that can significantly impact business outcomes.

Important success factors
Critical variables
Critical success factors
Most important attributes

Question 15 of 25

15. Question

Conspire with competitors to restrain competitive behaviour is known as

Collusion
Cooperation
Coexistence
Conflict

Question 16 of 25

16. Question

The individual investor’s optimal portfolio is designated by

The point of the highest reward to variability ratio in the indifference curve
The point of tangency with the indifference curve and the capital allocation line
The point of tangency with the opportunity set and the capital allocation line
The point of highest reward to variability ratio in the opportunity set

Question 17 of 25

17. Question

Which of the following is not a CRM industry best practice?

Implement in Iterations
Define Information Needs and Flows
Build an Integrated View of the Customer
Provide Better Customer Service

Question 18 of 25

18. Question

“_____________ is the process of establishing and maintaining business-related personal relationships.”

Forecasting
Publicity
Networking
Business activity

Question 19 of 25

19. Question

____________ are found in positive interpersonal relationships between people on both sides of the customer-manager equation.

Social bonds
Structural bonds
Legal bonds
Process bonds

Question 20 of 25

20. Question

In buyer decision process, percentage of potential customers in a given target market is called

Customer funnel
Company funnel
Marketing funnel
Retailers funnel

Question 21 of 25

21. Question

What type of organizations can benefit from CRM?
I) Small and medium-sized companies
II) Corporations, associations
III) Internet-based retailers, fund-raising organizations

II and III
I and III
I, II & III
I and II

Question 22 of 25

22. Question

The model’s authors prefer to describe their model as a customer management model, omitting the word ‘relationship’. At the heart of the model they depict a series of activities that companies need to perform in order to acquire and retain customers. The model features people performing processes and using technology to assist in those activities. This model is

IDIC Model
QCI model
Francis buttle's model
None of the above

Question 23 of 25

23. Question

Which of the following are useful in customer portfolio management?
I) Market Segmentation
II) Sales Forecasting
III) Activity-based Costing
IV) Customer Lifetime Value Estimation

I and II
II, III and IV
I, II, III and IV
III and IV

Question 24 of 25

24. Question

Which of the following attributes of CRM influence Customer Experience?
I) Usability – ease with which CRM application is used
II) Flexibility – alternatives available to the user at any given time
III) Performance – Response times, integration process, online user experience
IV) Cost – Financial resource spent to set up CRM