Preview Questions Sales Manager (Bancassurance) | Role Specific Skill

Question 1: In the context of bancassurance, what is the role of "policy lapse" in determining the success of a product?

Which action should you take?

Choose only one option

It shows the effectiveness of marketing strategies

It reflects the poor performance of sales staff

It indicates the product's suitability for the market

It significantly impacts profitability and customer retention

Question 2: What is the primary challenge in client retention in bancassurance?

Which action should you take?

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Offering the same product to all customers

Increasing agent commissions

Reducing product prices constantly

Meeting evolving customer expectations and needs

Question 3: Which of the following would be an ineffective use of KPIs in a bancassurance sales environment?

Which action should you take?

Choose only one option

Tracking performance against both individual and team KPIs

Tracking KPIs regularly to adjust strategy

Relying on a single KPI without considering other factors

Using KPIs to motivate sales team performance

Question 4: Which of the following products would be most appropriate for customers seeking long-term financial security with minimal risk exposure?

Which action should you take?

Choose only one option

Child education plan

Endowment life insurance policy

Term life insurance policy

ULIP (Unit-Linked Insurance Plans)

Question 5: When considering geographical expansion for bancassurance, which strategy is most likely to ensure success?

Which action should you take?

Choose only one option

Expanding to international markets immediately

Focusing on rural markets with under-penetrated insurance coverage

Focusing only on urban areas

Partnering with multiple smaller banks

Question 6: When assessing the effectiveness of a bancassurance product portfolio, what metric is most valuable for long-term growth?

Which action should you take?

Choose only one option

The speed at which products are sold

The volume of product offerings

The product's market share relative to competitors

The diversity of customer segments served