Channel Partnerships Certification Exam

1. Question

How often should you hold Partner Business Review sessions with a given partner?

Weekly
Monthly
Quarterly
As needed, but somewhere between Weekly and Quarterly.

2. Question

In partner management, if a partner is underperforming ______ .

Give them more time, they will probably improve.
Ignore the partner.
They should be acutely aware they are under performing.
Send them resources so they can get educated on your solutions.

3. Question

In performance meetings, what is the last segment where action items are summarized?

"Open Mic"
"Recap"
"Lightning Round"
"To Dos"

4. Question

How frequently should the “typical” Partnering Team Leader hold “internal” partnering team meetings?

Monthly
Daily
Quarterly
Weekly

5. Question

Which of the following is NOT a core attribute of a great Partner Development Leader?

Financial Acumen
Entrepreneurial
Influential
High Emotional Intelligence

6. Question

What does a typical “First 90 days Plan” address?

An organization's ideal partner personas.
How each party will be compensated after a new partnership is launched.
The goals and milestones to clearly identify the partnership launch activities.
All major deal terms for your partnership.

7. Question

What is the maximum number of goals a Partner Development Leader should set for any new partnership?

2
3
5
4

8. Question

Which tool gives new partnerships the ability to execute their goals starting day 1, post-agreement signature?

First 90-Days Plan
Partner Preparation Sheet
Strategic Partnering Plan
Organizational Partnering Plan

9. Question

Role Based Partner Pairing instructs partnering professionals to map _____ connections between partner organizations.

Peer-to-Peer
Executive-to-Individual Contributor
Manager-to-Individual Contributor
Executive-to-Manager

10. Question

The Strategic Partner Leadership Model (SPLM) framework acts as your team’s _________ system.

Revenue
Accountability
Recruiting
Operating

11. Question

Which phase of the Channel Partnering Process addresses CRM, PRM, and accounting setup?

Recruiting
Contracting
Enablement
Onboarding

12. Question

What is partner enablement?

Activities focused on equipping each partner so they can accomplish partnership goals.
Creating a contracting map to get the paperwork in place.
Creating Partner Personas to clearly identify high-value targets.
Implementing role-based partner pairing at your company.

13. Question

The “For Consideration” portion of a collaborative document is designed to____ .

is a list that details the final decisions made by your supervisor.
is a list of items that you must communicate to your accounting department.
be a place to share questions and ideas that one party would like to explore.
outline the financial terms of a proposed contract.

14. Question

What is exclusivity?

Contractual term that allows a party, or all parties, to terminate an agreement without cause.
A contractual arrangement that allows both parties to focus on the goals of their relationship without being distracted by competing partners.
A flat fee is paid when a partnership is formed.
Allows a party to redirect part or all of their obligations of an agreement to another company.

15. Question

What is a Market Development Fund (M.D.F.)?

A fee is paid to a distributor for producing a product.
A program that subsidizes the cost of creating and running marketing campaigns in geographical areas.
It gives a party the right to withhold money and only pays the net amount the partner claims is actually owed, based on some event.
A contractual clause that gives you the right to offer steep discounts for a solution.

16. Question

What is the meaning behind the Bargaining Success Practice that states, “You can’t unring a bell?”

Sometimes you have to make noise to be heard.
Set a 1-hour alarm for every negotiation session and do not go past it.
When a negotiation session starts, you cannot stop for breaks.
When you agree to a term, you are expected to honor your commitment.

17. Question

What is a Term Sheet?

A document that should address the authorized use of confidential information and in most cases.
A brief document that provides all definitions that will be used in a partnering program.
A short document that specifies various "remedies" in the event the agreement is breached.
A brief document, typically three to four pages when finalized, that outlines the core business intentions of parties to a potential agreement.

18. Question

What is the purpose of a Non-Disclosure Agreement (NDA)?

An Exhibit to an agreement that prevents each party from poaching employees.
A legal contract between organizations that allows each party to use their partner's intellectual property.
An Exhibit to your agreement that promises each party's commitment to execute a project plan.
A legal contract between organizations that restricts access and the disclosure of confidential material, knowledge, or other sensitive information to third parties.

19. Question

Which tool contains 10 standard criteria and helps evaluate partner candidates?

Bargaining Matix
Partner Preparation Sheet
Scoring Tool
Term Sheet

20. Question

What is a Partner Preparation Sheet?

A document that helps you explain legal terms to your attorney.
A tool that helps you efficiently conduct partner candidate conversations.
A tool that helps your executives prepare a comprehensive strategy.
A tool that helps your marketing team create partner personas.

21. Question

Which of the following is the best outreach tool for partner recruiting?

LinkedIn Sales Navigator
Microsoft Excel
Facebook
Instagram

22. Question

What are the two types of targeting activities?

Protective and static outreach
Inbound and outbound outreach
Protective and outbound outreach
Inbound and passive outreach

23. Question

What are partner profile forms used for?

To understand a customer's job to be done.
To form ideas about what product you want to sell.
To collect information on each partner candidate that you are evaluating for a program.
To converse with co-workers in the workplace.

24. Question

What are the 2 Partner Personas that must be created?

Industry Persona and Partner Leadership Persona.
Organizational Persona and Partnering Professional Persona.
Organizational Persona and Business to Consumer Persona.
Industry Persona and Business to Business Persona.

25. Question

Which tool is most likely to receive input from your organization’s CEO?

Organizational Partnering Plan (OPP)
Bargaining Matrix
Partner Preparation Sheet
Power Analysis

26. Question

Which form of analysis is found at the center of the Strategic Partnering Plan (SPP)?

Financial Analysis
Needs/Wants/Limits
SWOT
Power Analysis

27. Question

What are Independent Software Vendors (ISV)?

Companies that specialize in making introductions to solutions providers to close sales.
Combines hardware, software, networking, security, and storage solutions into an integrated environment.
Offer remote services such as software installation, upgrades, monitoring, and break/fix for a customer's IT infrastructure
Develops a proprietary software solution that is designed to run on one or more computer operating systems.

28. Question

What are the 6 phases of a channel partnering process, in order?

1) Strategy 2) Recruiting 3) Operations 4) Enablement 5) Contracting 6) Onboarding
1) Contracting 2) Onboarding 3) Recruiting 4) Enablement 5) Operations 6) Strategy
1) Strategy 2) Recruiting 3) Contracting 4) Onboarding 5) Enablement 6) Operations
1) Contracting 2) Onboarding 3) Strategy 4) Onboarding 5) Enablement 6) Operations

29. Question

Which phase of the Partnering Process includes the creation of an Organizational Partnering Plan (OPP)?

Strategy
Contracting
Onboarding
Operations

30. Question

Which of the following is not true about Channel Partnerships?

75% of world commerce flows through partnerships.
38% of CEOs say Partnering is their #1 strategy for growth.
IDC reports a 50% year-over-year increase in the number of B2B partnerships being formed.
80% of companies have stopped forming partnerships due to high failure rates.