CRB Sales Techniques & Relationship Management 3

Question 1

A customer declines a credit card offer stating they already have too much debt. What is the most appropriate next step?

Accepted Answer

Acknowledge their concern and ask if they would like help reviewing debt management options

Answer

Acknowledging the concern and pivoting to debt management demonstrates genuine care and keeps the advisory relationship intact.

Question 2

In retail banking sales, what does the acronym 'WIIFM' stand for, and why is it important?

Accepted Answer

What's In It For Me — the customer's perspective that drives their buying decision

Answer

WIIFM reminds bankers to frame every product recommendation in terms of the direct benefit to the customer.

Question 3

Which behavior best demonstrates 'trusted advisor' status in a retail banking relationship?

Accepted Answer

Proactively reaching out with relevant financial guidance even when not requested

Answer

Proactive outreach with relevant advice builds trust and differentiates a banker from a transactional service provider.

Question 4

A customer asks about the difference between a fixed and variable rate mortgage. The banker is unsure. What is the best action?

Accepted Answer

Tell the customer you'll follow up after confirming accurate information with a specialist

Answer

Admitting uncertainty and following up with accurate information preserves trust and avoids providing incorrect financial guidance.

Question 5

What is the most effective use of a CRM system in retail banking relationship management?

Accepted Answer

Recording customer interactions, preferences, and life events to enable personalized outreach

Answer

CRM systems allow bankers to maintain detailed customer profiles and trigger timely, personalized outreach based on life events and preferences.

(CRB) Certified Retail Banker Practice Test