4.4 Identify the Steps to Process Exceptions or Non-Standard Elements of a Renewal Quote 700-805 Practice Questions (Page 5)

Questions 21–24

1. 21foundation · easy

   Which of the following is an example of a non-standard element in a renewal quote?

   • AA discount applied to the renewal line items
   • BThe standard list price for a renewal product
   • CThe standard payment terms of net 30 days
   • DThe customer's standard renewal date
   Reveal Solution Discussion Select an answer first
2. 22expert · hard

   A renewals manager is processing a renewal quote for a customer who is requesting a 20% discount and a 12-month extension to the contract term. The policy states that discounts above 15% require CEO approval, and contract term extensions beyond 6 months require legal review. The CEO has approved the discount, but legal has not yet reviewed the term extension. The customer has a hard deadline of the end of the week. What is the manager's best course of action?

   • AExpedite the legal review by providing all necessary documentation and context, while keeping the customer informed of the timeline.
   • BSend the quote to the customer with a note that the term extension is pending legal review.
   • CReduce the term extension to 6 months to avoid the legal review requirement and meet the deadline.
   • DFinalize the quote with the CEO-approved discount and the term extension, since the CEO's approval covers the entire quote.
   Reveal Solution Discussion Select an answer first
4. 23application · medium

   A renewals specialist is working on a renewal quote and discovers that the customer's requested discount of 18% is above the standard threshold. The specialist documents the exception and submits it for approval. The approval is denied. What should the specialist do next?

   • AApprove the discount personally to avoid losing the renewal.
   • BAdjust the quote to the standard discount and inform the customer that the exception was not approved.
   • CResubmit the same exception to a different approver who might approve it.
   • DRemove the exception from the quote system and reissue the quote without any discount.
   Reveal Solution Discussion Select an answer first
5. 24expert · hard

   A renewals manager is reviewing a quote and identifies three potential exceptions: a 9% discount, a 30-day extension to the renewal date, and a change to the billing frequency from annual to quarterly. The policy states that discounts up to 10% can be approved by the renewals manager, renewal date extensions up to 60 days can be approved by the renewals manager, and billing frequency changes require finance director approval. How should the manager process these elements?

   • ARoute all three exceptions to the finance director, since the billing frequency change is the most significant.
   • BApprove all three exceptions personally, since the manager has the authority to approve the discount and extension.
   • CRoute the discount and extension to the finance director, and approve the billing frequency change personally.
   • DApprove the discount and the extension personally, and route the billing frequency change to the finance director.
   Reveal Solution Discussion Select an answer first