1) What processes are included in the Quote-to-Cash
umbrella?
a) Configure, Price, Quote
b) Contract Management
c) Billing and Order
Management
d) All of the
Above
e) Configure, Price, Quote
AND Contract Management
2) What are the benefits of a streamlined quote-to-cash
process?
a) Faster sales cycles and
bigger deal sizes
b) More accurate
forecasting
c) Higher levels of
customer satisfaction and renewal
d) Reduced contractual
risk
e) All of the
above
3) What is NOT a step of the Quote-to-Cash process?
a) Configuration
b) Contract negotiation
c) Product
design
d) Order fulfillment
e) Billing
4) Although Quote-to-Cash is an organization-wide
initiative, which functional groups are MOST critical to the Quote-to-Cash
process?
a) Operations, Finance,
Marketing, Legal
b) Sales, Legal,
Engineering, Executive-level
c) Suppliers, Sales,
Legal, Finance
d) Sales, Legal,
Operations, Finance
e) Marketing, Engineering,
Sales, Accounting
5) Which organizational challenge is an indicator you
need to fix your Quote-to-Cash process?
a) Restatements are a
regular part of doing business
b) Marketing and Sales
don't get along
c) Engineering creates
duplicate product numbers
d) Contracts expire
without anyone knowing
e) All of the above
f) Restatements
are regular AND contracts expire without notice
6) When measuring the ROI of Quote-to-Cash, Sales
Efficiency, Sales Effectiveness, Cost, and Risk are the primary categories you
should look at.
a) True
b) False
7) A Sales executive might automate the Quote-to-Cash
process to help his or her sales team improve their product knowledge when
selling deals.
a) True
b) False
8) In the Gartner report, “How to Analyze Your Sales
Processes on Efficiency versus Effectiveness,” which two tools rank the highest
for improving sales efficiency and effectiveness?
a) Configure, price,
quote, and sales incentive compensation management
b) Configure, price, quote
and contract management
c) Contract management,
and incentive compensation management
d) Configure,
price, quote, and guided selling
e) None of the above
9) How does configure, price, quote (CPQ) support
multi-channel sales?
a) CPQ increases partner
visibility into product, pricing, and business rules so they know what to sell
b) CPQ provides full
visibility into sales trends on a channel-specific basis
c) CPQ enables you to
create channel-specific business rules for partners
d) CPQ tools offer
role-based access, discount locks, and portals, so you can manage revenue
share, e) exclusive discounts, or pricing and shipping fees
f) All of the
above
g) CPQ enables
channel-specific business rules for partners AND role-based access, discount
locks, and portals
10) Warranties, manuals and third-party components can
add complexity to the quoting process
a) True
b) False
11) Which is NOT a characteristic of an effective CPQ
pricing tool?
a) Triggered approvals
when reps sell bigger discounts than management has authorized
b) Options for creative
discounts
c) Directs what approvals
should kick in when reps go outside the preferred parameters
d) Control and
streamlining supply chain operations with real-time visibility into inventory
e) Attribute based, usage
based, and subscription pricing
12) What two drivers have to be balanced during the
quoting process?
a) Opportunity and
Contract
b) Speed and Control
c) Pricing and
Configuration
d) Speed and
Accuracy
e) Revenue and Margin
13) Pricing can be used to the modify behavior of
customers and channel partners, but not sales reps
a) True
b) False
14) Pricing is the #1 lever you can pull to immediately
impact revenue and margin
a) True
b) False
15) Why are contracts a critical part of Quote to Cash?
a) More than 80% of
business transactions are tied to a contract
b) Insight into real
revenue and costs can be found in your contract data
c) Your contracts contain
data that is needed by everyone involved in the Quote-to-Cash process
d) Many businesses are
moving to a subscription or services model that relies on repeat business with
e) current customers
f) All of the
above
16) Buy-side contracts are the primary focus for
Quote-to-Cash
a) True
b) False
17) What are two challenges you need to balance for
effective contract management?
a) Opportunity and
Contract
b) Speed and
Control
c) Pricing and
Configuration
d) Speed and Accuracy
e) Revenue and Margin
18) Which is NOT a step in the contract management
lifecycle?
a) Comply
b) Generate
c) Renew
d) Quote
e) Request
f) Approval
19) What role does Finance play in the contracting
process?
a) Evaluates a contract’s
financial impact and risks
b) Approves the commitment
of resources per contract terms
c) Acts as the primary
player during contract review, negotiation, and content assurance
d) Designs, creates, and
maintains contract templates
e) All of the above
f) Evaluates
financial impact and risk, AND approves the commitment of resources for
contracts
20) Your business has a problem if more than 20% of
contracts expire without notice
a) True
b) False
21) What are the four stages of contract maturity?
a) Hunting and gathering,
grouping, committing, executing
b) Task automation,
authoring, maximizing, performance enhancement
c)
Consolidation, task automation, process efficiencies, contract performance
d) Co-termination, task
automation, process efficiencies, performance
e) None of the above
22) What is the Billing Schedule?
a) A method of revenue
recognition allowed by GAAP
b) A plan for recognizing
revenue from an accounting perspective
c) A method of accounting
which uses an accrual methodology
d) A plan for
invoicing customers for products and services
23) What type of accounting is more complex
a) Cash accounting
b) Accrual
accounting
c) They are equally
complex
24) What is GAAP revenue?
a) Generally Accepted
Automatic Payments
b) The revenue reported
annually by GAP Inc to its shareholders
c) Revenue which
is recognized in accordance with the standard accounting practices defined
under GAAP
d) International Financial
Reporting Standards
25) CDEF, the criteria that determine how revenue can be
recognized, stands for:
a) Customer has accepted,
Dollars are documented, Exchange is complete, Final payment secured
b) Cash on the table,
Deliver the products, Expedite shipping, Fiscal impact
c) Collection is
probable, Delivery is complete, Evidence of an arrangement, Fixed or
determinable price
d) Contract acceptance
rated, Deal documentation, Elevated price, Financial followup
26) Who is the Revenue team
a) The group of
executive managers, including your CEO, CFO, and EVP of Sales, who are
responsible to owners and shareholders for meeting the business’s financial
objectives
b) The group of managers
responsible for counting the cash at the end of each quarter
c) The partners
responsible for conducting sales with your customers
d) The customers and
prospects that bring revenue to your business
e) None of the above
27) Which is NOT a characteristic of effective Revenue
Management?
a) Adopting cash
based accounting
b) Automate and streamline
the process with contract integration
c) Increase your executive
management's team's visibility to revenue risks
d) Increase collaboration
and eliminate bottlenecks across departments
e) Actively manage partner
performance
28) Integrated contract management is an important
characteristic of revenue management
a) True
b) False
29) The entire Quote-to-Cash process--including ecommerce
capabilities and analytics, can be managed on Salesforce1
a) True
b) False
30) How do Apttus, Jitterbit, Adobe, and Xactly work
together to streamline Quote-to-Cash
a) Apttus provides
enterprise resource management on Salesforce1, Xactly offers CPQ, Jitterbit
provides full revenue management and accounting software, and Adobe helps you
bring all your agreements to the cloud.
b) Apttus
provides full CPQ, contract management, and revenue management on Salesforce1,
Jitterbit integrates your Quote-to-Cash with ERP, Xactly aligns your sales
compensation with the behaviors that bring more dollars to your business, and
Adobe speeds approvals for proposals and quotes with e-signature.
c) Apttus provides full
CPQ, contract management, and revenue management on Salesforce1, Adobe allows
you to make pdfs of sales agreements, Xactly helps you import your old
contracts into Salesforce, and Jitterbit offers guided selling.
d) Xactly provides full
CPQ, contract management, and revenue management on Salesforce1, Jitterbit
integrates your Quote-to-Cash with ERP, Adobe aligns your sales compensation
with the behaviors that bring more dollars to your business, and Apttus speeds
approvals for proposals and quotes with e-signature.
