Project Management & Execution Flashcards

A debt relief agent is building a client's program timeline. Which factor most directly determines how many months the program will run?

Answer: The client's monthly deposit amount relative to total enrolled debt and fees

Program length is driven by how quickly deposits accumulate enough funds to cover settlements and fees on the enrolled debt.

Under the FTC Telemarketing Sales Rule, when may a debt settlement company collect its fee for a settled account?

Answer: Only after a settlement is reached, the client agrees to it, and at least one payment has been made to the creditor

The TSR advance-fee ban requires a settled debt, client consent, and at least one creditor payment before fees are collected.

Which project management tool best helps an agent visualize when each enrolled account is expected to be settled over a 36-month program?

Answer: A Gantt chart or settlement schedule timeline

A Gantt-style schedule maps each settlement milestone against the program calendar.

A client's projected settlement for Account #3 slips by four months because the creditor refused early offers. What should the agent do first?

Answer: Update the program schedule and inform the client of the revised timeline

Schedule changes should be documented and promptly communicated to keep client expectations accurate.

In a debt settlement program, which account is typically prioritized for settlement first when funds are limited?

Answer: An account with a creditor threatening litigation or with a strong settlement opportunity

Agents prioritize based on risk (such as lawsuits) and the availability of favorable settlement offers.

Who must own and control the dedicated account used to hold client settlement funds under the TSR?

Answer: The client

The TSR requires the client to own the funds and be able to withdraw them at any time without penalty.

Which metric best measures execution performance of a settlement team over a quarter?

Answer: Average settlement percentage of enrolled balance and number of accounts settled on schedule

Settlement rate and on-schedule completion directly reflect delivery of client outcomes.