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Business Owner Sales Master Class

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Module 3 Finding & Qualifying Leads Ch 9

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1. 1. What is a lead?
A) A confirmed sale B) A potential customer C) A policy document D) A sales script
2. 2. In the insurance business, why is a single good lead valuable?
A) It always buys immediately B) It can lead to referrals and policy upgrades C) It guarantees a monthly income D) It reduces the cost of advertising
3. 3. Which stage of the sales funnel comes first?
A) Consideration B) Awareness C) Decision D) Retention
4. 4. What is the program’s target lead-to-close ratio?
A) 2:1 B) 5:1 C) 10:1 D) 3:1
5. 5. What is the main advantage of warm leads over cold leads?
A) They are cheaper to find B) They trust and engage faster C) They require no follow-up D) They always buy the product
6. 6. Which of these is an example of a warm lead source?
A) Facebook ad to strangers B) Referral from a friend C) Random street approach D) Cold calling from a directory
7. 7. What does the “I” in I.C.E. stand for?
A) Income B) Interest C) Investment D) Information
8. 8. What does the “C” in I.C.E. stand for?
A) Capacity B) Commitment C) Contact D) Cost Answer
9. 9. What does the “E” in I.C.E. stand for?
A) Engagement B) Eligibility C) Effort D) Endorsement
10. 10. If a lead scores 18 points in lead scoring, they are…
A) Cold B) Warm C) Hot D) Unqualified
11. 11. How much of your lead work should be focused on hot leads?
A) 30% B) 50% C) 60% D) 80%
12. 12. Which is a sign of a hot lead?
A) Doesn’t answer your calls B) Wants to buy within 30 days C) Says “maybe later” D) Has never heard of your product
13. 13. What is the main reason to track leads?
A) To look busy B) To remember names C) To know your next action and improve D) To have a large contact list
14. 14. Which tool does not require internet to track leads?
A) Notebook B) Google Sheets C) WhatsApp D) Email CRM
15. 15. In a 7-day campaign, what is the first step?
A) Send product info B) Close hot leads C) Make your target audience list D) Follow up with warm leads
16. 16. Which is the correct formula for Closing Rate?
A) (Sales ÷ Qualified Leads) × 100 B) (Leads ÷ Sales) × 100 C) (Qualified Leads × Sales) ÷ 100 D) (Sales ÷ Total Leads) × 10
17. If you had 20 qualified leads and 4 sales, your lead-to-close ratio is…
A) 4:1 B) 5:1 C) 6:1 D) 7:1
18. 18. Which of these is a cause of poor sales performance?
A) Strong follow-up B) Talking to the wrong target audience C) Focusing on hot leads D) Knowing your product well
19. 19. Which lead source is best for funeral insurance?
A) Funeral parlours and community networks B) Mechanics and taxi owners C) Digital ads only D) Large retail stores
20. 20. What is the biggest risk of working with low-quality leads?
A) You’ll make more sales B) You’ll waste time and money C) You’ll increase referrals D) You’ll need less follow-up
21. 21. In follow-up, how soon should you contact warm leads again?
A) Every week B) Every month C) Only when they call you D) Once a year
22. 22. Which product sells well at a worksite presentation?
A) Vehicle insurance B) Legal insurance C) Holiday travel cover D) Pet insurance Answe
23. 23. Which statement is an example of a sales affirmation?
A) “No one wants insurance. B) “Every conversation brings me closer to my goals.” C) “Cold leads are a waste of time.” D) “I can’t sell without discounts.”
24. 24. What was Sipho’s key to converting ‘maybes’ into sales?
A) Dropping them from his list B) Weekly follow-up with voice notes and reminders C) Offering big discounts D) Selling only to hot leads
25. 25. Maria built trust with her stokvel by…
A) Offering free policies B) Avoiding the topic of insurance C) Educating members about funeral costs D) Selling only to friends
26. 26. Which action improves your lead-to-close ratio?
A) Adding more cold leads to your hot list B) Ignoring follow-up calls C) Qualifying strictly and focusing on hot leads D) Avoiding product training
27. 27. In lead tracking, hot leads should be…
A) Reviewed monthly B) At the top of your list C) Removed after one week D) Ignored if they don’t answer immediately
28. 28. Why is retention important in the sales funnel?
A) It reduces your need to find new customers B) It increases competition C) It ends the sales process D) It means fewer follow-ups
29. 29. What is the last step of a 7-day campaign?
A) Share product info B) Review results and note lessons learned C) Call to qualify leads D) Close hot leads
30. 30. Which ratio tells you how many qualified leads you need to close one sale?
A) Closing Rate B) Lead-to-Close Ratio C) Retention Rate D) Hot Lead Score