SMPS CPSM END OF COURSE QUESTIONS AND
ANSWERS SET A+
✔✔Consideration - ✔✔The value exchanges between two parties in a contract, which
may consist of promises, services, goods, or money.
✔✔Contract - ✔✔An exchange of promises, either orally or in writing, between two or
more parties that creates a legal obligation between them.
✔✔Mediation - ✔✔A procedure in which the parties submit their dispute, including the
details of their position, to an independent third party mediator
✔✔Arbitration - ✔✔The use of a third party to settle a dispute
✔✔Rainmaker - ✔✔A professional, usually a partner, who both generates leads and
converts them into work for the firm at levels outstripping other partners to such a
degree that it appears miraculous
✔✔Valley of Death - ✔✔The typically discouraging early stage of client development
during which the amount of time and effort a person puts into development activities
does not seem to be reflected in their results.
✔✔Sales Success Cycle - ✔✔A model that describes the stage of client development
where small successes, self-motivation, and self-confidence feed off each other to
become a self-sustaining model of success.
✔✔Rainmaking System - ✔✔A four-point intervention process developed to give
professionals the skills, standards, systems, and support needed to become a
rainmaker.
✔✔Internal Marketing - ✔✔A multi-dimensional strategy for growing a firm from the
inside-out, focusing sharply on the people inside the firm.
ANSWERS SET A+
✔✔Consideration - ✔✔The value exchanges between two parties in a contract, which
may consist of promises, services, goods, or money.
✔✔Contract - ✔✔An exchange of promises, either orally or in writing, between two or
more parties that creates a legal obligation between them.
✔✔Mediation - ✔✔A procedure in which the parties submit their dispute, including the
details of their position, to an independent third party mediator
✔✔Arbitration - ✔✔The use of a third party to settle a dispute
✔✔Rainmaker - ✔✔A professional, usually a partner, who both generates leads and
converts them into work for the firm at levels outstripping other partners to such a
degree that it appears miraculous
✔✔Valley of Death - ✔✔The typically discouraging early stage of client development
during which the amount of time and effort a person puts into development activities
does not seem to be reflected in their results.
✔✔Sales Success Cycle - ✔✔A model that describes the stage of client development
where small successes, self-motivation, and self-confidence feed off each other to
become a self-sustaining model of success.
✔✔Rainmaking System - ✔✔A four-point intervention process developed to give
professionals the skills, standards, systems, and support needed to become a
rainmaker.
✔✔Internal Marketing - ✔✔A multi-dimensional strategy for growing a firm from the
inside-out, focusing sharply on the people inside the firm.
