3.1 Describe the Role of a Renewals Manager Within the Lifecycle and the Integration with Various Teams 700-805 Practice Questions (Page 3)

Questions 11–15

1. 11expert · hard

   A Renewals Manager is responsible for a renewal that is critical to the company's quarterly revenue. The customer's procurement team has a strict deadline for contract approvals. The Sales team has identified a small upsell that could be added, but the CSM is concerned that adding it may delay the approval. What should the Renewals Manager do?

   • AEvaluate the trade-off between the upsell and the approval deadline, and coordinate with Sales and CSM to decide the best approach.
   • BAsk the CSM to handle the approval process while the Renewals Manager focuses on the upsell.
   • CAdd the upsell to the renewal to maximize revenue, regardless of the deadline.
   • DSkip the upsell to ensure the renewal is approved on time.
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2. 12application · medium

   A Renewals Manager is preparing for a complex renewal negotiation. The Renewals team has a standard process for handling such negotiations, and a senior team member has experience with similar accounts. What should the Renewals Manager do to maximize the chance of a successful outcome?

   • ADelegate the entire negotiation to the senior team member.
   • BFollow the team's standard process and consult the senior team member for guidance.
   • CHandle the negotiation independently to avoid delays.
   • DCreate a new negotiation process tailored to this account.
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4. 13application · medium

   A Renewals Manager is working with a CSM on an at-risk account. The CSM has proposed a series of success activities to improve adoption before the renewal date. What should the Renewals Manager do to support this effort?

   • AAsk the Sales team to take over the account since it is at risk.
   • BAlign the renewal timeline with the CSM's success plan and monitor progress together.
   • CProceed with the renewal immediately to secure revenue before the customer churns.
   • DOffer a discount to encourage the customer to renew despite the risk.
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5. 14foundation · easy

   How does the Renewals Manager and Customer Success Manager (CSM) work together to manage customer risk?

   • AThe CSM provides the Renewals Manager with a list of new leads to pursue
   • BThe Renewals Manager handles all customer support issues to reduce churn
   • CThe CSM is solely responsible for all renewal negotiations
   • DThe Renewals Manager shares customer health data with the CSM to identify at-risk accounts
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6. 15expert · hard

   A Renewals Manager is part of a Renewals team that uses a specific CRM workflow for all renewals. The Sales team has requested a custom report that the CRM cannot generate. The Renewals Manager needs to provide the data to Sales while adhering to the team's process. What should the Renewals Manager do?

   • ATell Sales the report is not possible and provide no data.
   • BWork with the Renewals team to find a compliant way to extract the data and share it with Sales.
   • CGive Sales direct access to the CRM to create the report themselves.
   • DManually create the report outside the CRM to avoid process delays.
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