3.2 Explain Renewals Manager Tasks 700-805 Practice Questions (Page 5)

Questions 21–25

1. 21foundation · easy

   What is a key goal of a Renewals Manager when working with existing customers?

   • ATo design new network architectures for customers
   • BTo ensure customers renew their contracts on time
   • CTo audit customers' internal financial statements
   • DTo maximize the number of new customer acquisitions
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2. 22application · medium

   A Renewals Manager is reviewing the upcoming quarter's renewal pipeline. A key account with a large support contract is showing a 'risk' indicator because the customer has not responded to outreach. The Renewals Manager needs to improve the forecast accuracy for this account. Which action should the Renewals Manager take first?

   • AMove the renewal to 'upside' in the forecast to reflect the historical likelihood of renewal.
   • BLog the customer's non-response in the renewal tool and schedule a follow-up with a different engagement channel.
   • CEscalate the account to the sales director immediately to request intervention.
   • DUpdate the opportunity with a 'commit' status based on the customer's past renewal behavior.
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4. 23application · medium

   A Renewals Manager is processing a renewal for a government customer. The customer requests a special discount that is not in the standard pricing guidelines. What should the Renewals Manager do?

   • AApply the discount to secure the renewal and maintain the relationship.
   • BConsult the pricing guidelines and, if necessary, seek approval for the discount through the appropriate channel.
   • COffer a different discount that is within the guidelines without seeking approval.
   • DExplain that the discount is not available and offer the standard renewal price.
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5. 24expert · hard

   A Renewals Manager has a portfolio of renewals with varying levels of risk. One large renewal has a high probability of renewal but a low margin, while another smaller renewal has a lower probability but a higher margin. The manager has limited time and resources. How should the Renewals Manager prioritize their efforts?

   • AFocus on the large renewal because it has a high probability of renewal and will contribute significantly to the revenue target.
   • BFocus on the smaller renewal because it has a higher margin and could be more profitable.
   • CBalance efforts by addressing the risks in both renewals, prioritizing based on the expected revenue impact.
   • DFocus on the renewal that is closest to expiration to avoid a lapse.
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6. 25foundation · easy

   What is the Renewals Manager's primary role during the post-renewal stage?

   • AGenerating the initial quote for the renewal
   • BIdentifying the customer's renewal risks
   • CNegotiating terms with the customer
   • DEnsuring the customer's new contract is activated and handed off appropriately
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