Project Management & Execution Flashcards

During program kickoff, what is the primary purpose of a detailed client onboarding call?

Answer: To confirm enrolled debts, deposit schedule, program risks, and communication expectations

Onboarding sets the scope, schedule, and expectations that govern the rest of the program.

A client wants to add a new credit card to their program six months in. In project terms, this is best handled as:

Answer: A formal scope change requiring updated agreement, timeline, and fee disclosure

Adding debt changes scope, so the agreement, schedule, and fees must be updated and disclosed.

Which disclosure must be made to a client before enrollment under the TSR regarding program execution?

Answer: The estimated time needed to make a settlement offer to each creditor and the amount to save first

The TSR requires disclosure of the time frame and savings needed before offers are made to each creditor.

A client misses two consecutive program deposits. What is the most appropriate execution response?

Answer: Contact the client, assess hardship, and adjust the deposit plan or timeline if needed

Proactive outreach and plan adjustment keep the program viable and the client informed.

In a RACI matrix for settlement execution, which role would 'Accountable' typically describe for final approval of a settlement offer?

Answer: The client, who must authorize the settlement

The client must approve each settlement, making them accountable for that decision.

Which risk should be identified in a program risk register for nearly every debt settlement client?

Answer: Creditor lawsuits and continued collection activity while accounts are delinquent

Stopping payments can lead to collection calls and lawsuits, a core program risk.

After a settlement is finalized, what document should the agent ensure the client receives and retains?

Answer: A written settlement agreement or letter from the creditor confirming the terms

Written settlement terms protect the client if the creditor or a debt buyer later disputes the balance.