CRB Sales Techniques & Relationship Management 2

Question 1

A customer mentions they are saving for their child's college education in 10 years. Which sales approach best addresses this need?

Accepted Answer

Recommend a 529 education savings plan aligned with their timeline

Answer

A 529 plan is specifically designed for education savings and aligns with a long-term 10-year horizon.

Question 2

During a needs assessment, a customer says they 'just want to think about it.' What is the most effective response?

Accepted Answer

Acknowledge their hesitation and ask what specific concerns they have

Answer

Acknowledging hesitation and uncovering specific concerns helps address objections and keeps the sales conversation productive.

Question 3

Which metric best measures the effectiveness of a retail banker's relationship management efforts over time?

Accepted Answer

Customer lifetime value and product penetration per household

Answer

Customer lifetime value and product penetration measure the depth of the relationship, not just transactional volume.

Question 4

A customer is upset about a fee charged to their account. How should a retail banker handle this situation to preserve the relationship?

Accepted Answer

Empathize, explain the fee, and explore options such as a courtesy waiver or account upgrade

Answer

Empathizing and offering solutions demonstrates customer-centric service and can turn a complaint into a retention opportunity.

Question 5

What is the primary purpose of a 'financial review' appointment with an existing customer?

Accepted Answer

To identify life changes that may create new financial needs and cross-sell opportunities

Answer

Financial reviews uncover life events and evolving needs, enabling bankers to recommend relevant products and deepen the relationship.

(CRB) Certified Retail Banker Practice Test