Channel Partnerships Certification Exam

1. Question

What is the ideal time period to send out a meeting agenda for a Partner Business Review meeting?

1 hour
1 day
2 days
1 week

2. Question

Which form of analysis is found at the center of the Organizational Partnering Plan (OPP)?

Financial Analysis
Needs/Wants/Limits
SWOT
Power Analysis

3. Question

Which phase of the Solutions Partnering Process is likely to include project plans and a RACI matrix?

Recruiting
Contracting
Strategy
Co-Innovation

4. Question

What is an Independent Software Vendor (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.

5. Question

Which of the following is the best definition of co-innovation?

It occurs when multiple organizations engage in a collaboration initiative designed to bring value to all participants.
The act of developing a contracting map to get a project scoped.
A collaboration activity to creating Partner Personas to clearly identify high-value targets.
An intense collaboration between companies that always includes new patents and protecting intellectual property.

6. Question

What are the 6 phases of the Solutions Partnering Process, in order?

1) Strategy 2) Recruiting 3) Operations 4) Co-Innovation 5) Contracting 6) Onboarding
1) Contracting 2) Onboarding 3) Recruiting 4) Co-Innovation 5) Operations 6) Strategy
1) Strategy 2) Recruiting 3) Contracting 4) Onboarding 5) Co-Innovation 6) Operations
1) Contracting 2) Onboarding 3) Strategy 4) Recruiting 5) Co-Innovation 6) Operations

7. 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.

8. Question

Which phase of the Partnering Process includes the creation of a Strategic Partnering Plan (SPP)?

Strategy
Contracting
Onboarding
Operations

9. Question

What is the definition of 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.

10. Question

The Innovator’s Method is an outstanding product innovation methodology that was co-created by Stanford University Ph.D., ______________ .

Chris McChesney
Nathan Furr
Clayton Christenseen
Stephen Covey

11. Question

Which of the following is not true about Solutions 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.

12. 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.

13. Question

How often should you hold Partner Business Review (PBR) sessions with your Managed partners?

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

14. 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.

15. 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.

16. 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.

17. Question

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

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

18. Question

Which tool allows a PDL to add “Custom Criteria” to help perform due diligence on partner candidates?

Bargaining Matix
Partner Preparation Sheet
Scoring Tool
Term Sheet

19. Question

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

Monthly
Daily
Quarterly
Weekly

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 NOT a core attribute of a great Partner Development Leader?

Analyze Business Models
Entrepreneurial
Influential
High Emotional Intelligence

22. Question

For the majority of businesses, which of the following is the best outreach tool for partner recruiting?

LinkedIn Sales Navigator
Microsoft Excel
Facebook
Instagram

23. 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.

24. Question

What are the two types of recruiting/targeting activities?

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

25. Question

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

2
3
5
4

26. Question

The “Initial” version of the Partner Profile Form generally contains less than _____ questions and it is designed to _______ the candidate evaluation process.

5 – start
15 – start
10 – finalize
25 – continue

27. 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

28. 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.

29. Question

Phase 5 of the Solutions Partnering methodology teaches the use of a RACI Matrix. What does the “R” stand for in RACI?

Revenue
Ramp Time
Reliable
Responsible

30. Question

Which tool is most likely to receive input from your organization’s Board of Directors or Investors?

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