CRM for financial services quiz

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1. Which of the following is not a factor driving financial institutions to adopt CRM?

a. Consolidation in the financial services industry
b. An increased emphasis on marketing campaigns
c. Increased government and industry regulation
d. The need to develop better service and sales processes
Read answer #1

2. True or False? CRM spending by financial services firms will be fairly strong in 2007, according to the results of a September 2006 survey by Forrester Research.

a. True
b. False
Read answer #2

3. True or False? Customer equity-focused banks do not just look at a customer's one-time reaction to a campaign, but consider how offering the customer a new product will affect their long-term eligibility for other products.

a. True
b. False
Read answer #3

4. True or False? Banks don't generate much operating income from ATM fees and other non-interest revenue streams.

a. True
b. False
Read answer #4

5. True or False? Banks like TD Waterhouse and WashingtonMutual are eliminating fees, hoping to increase customer loyalty by changing the negative perception many customers have about fee charges.

a. True
b. False
Read answer #5

6. Some banks are using ____ software for data transportation, integration and validation. The software also enables impressive audit trails -- a Sarbanes-Oxley compliance requirement.

a. Customer finance management
b. Financial data management
c. Customer data management
d. None of the above
Read answer #6

7. Which of the following enterprise CRM vendors have released vertical functionality in their on-premise products?

a. SAP
b. Oracle
c. Siebel
d. All of the above
Read answer #7

8. Which CRM vendor is traditionally considered to have the strongest financial services offerings, especially in insurance?

a. Siebel
b. PeopleSoft
c. SAP
d. None of the above
Read answer #8

9. Which CRM Software as a Service (SaaS) vendor embarked on a major push into the financial services industry in February 2007, releasing a new wealth management edition and signing up 25,000 subscribers at Merrill Lynch?

a. NetSuite
b. RightNow
c. Salesforce.com
d. None of the above
Read answer #9

10. CDC Software Corp. acquired UK-based Respond Group Ltd., which serves 800 financial services organizations, including AXA Insurance and Barclays, in February 2007. What software is the Respond Group best known for?

a. Email marketing software
b. Customer data integration (CDI) software
c. Customer feedback software
d. None of the above
Read answer #10

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