If you are looking for a good topic for a sales meeting, try this one out. Often with sales training, people will nod along saying they understand everything being presented. This is the first of a 3 part test I created. I would have my group first take the test and I would review the answers. It would be clear what areas I would need to address in training for my group and also by individual. Each question if explored properly can be the topic of a quick sales training.
I will post the other 2 parts of this exam over the next few weeks. If you would like the answers, email me and I can send you a copy of the test with the answers included. smurr@offsiteequipment.com
| you can use a calculator, no other items may be used | ||||||||||
| Leasing Basics Exam | during this exam (notes, person next to you, calling Regis, etc.) | |||||||||
| 1 | Name the two accounting classifications of leases: | |||||||||
| 2 | What is a “step lease”? | |||||||||
| 3 | What is a residual? | |||||||||
| 4 | Why does a customer have to pay property tax on their leases? | |||||||||
| 5 | What is a restricted credit industry? (How would you explain this term to a customer) | |||||||||
| 6 | Name 4 restricted credit industries: | |||||||||
| 7 | How many years does a company need to be in business not to be considered | |||||||||
| a start up business? | ||||||||||
| 8 | What credit information is needed for a start up company? | |||||||||
| 9 | What is “application only” and what information is required for application only | |||||||||
| transactions? | ||||||||||
| 10 | If you are going to propose a new solution to a current customer, what is the name of the quote | |||||||||
| you would request from the leasing company they are currently with to close out the old lease? | ||||||||||
| 11 | On leases that do not qualify as “application only”, what credit information is | |||||||||
| required by our leasing partners? | ||||||||||
| 12 | What is “air” or “water” in leasing terms defined as? | |||||||||
| 13 | If you are pricing a competitive takeaway for a new customer, what is the estimated | |||||||||
| buyout? 20 months remaining on a CPC where they have a minimum volume of | ||||||||||
| 8,000 pages per month at .055 and their overage is .013. There are 2 assets. | ||||||||||
| 14 | You are in a closing with a client and before they sign they ask how much more it would | |||||||||
| add to their payment if they added an accessory. You know the accessory is $2,000.00. | ||||||||||
| The agreement is 60 months FMV. What do you say? No peeking at rate sheet, should know this off the top of your head. | ||||||||||
| 15 | The next question they ask you is how much they can buy the machine for at the end of | |||||||||
| their lease. What do you say? | ||||||||||
Sell More Net New Business 