CRM CRM Technology & Data Management 2 — Questions and Answers
Question 1: Which CRM feature allows managers to track which clients haven't been contacted within a defined period?
- Lead scoring
- Activity monitoring / contact frequency alerts (Correct answer)
- Sentiment analysis
- Risk profiling
Correct answer: Activity monitoring / contact frequency alerts
Activity monitoring features flag clients who are overdue for contact, helping CRM professionals maintain consistent touchpoint frequencies.
Question 2: 'Segmentation' within a CRM platform enables a relationship manager to:
- Delete low-value client records
- Group clients by shared characteristics (wealth tier, product usage, risk profile) for targeted outreach (Correct answer)
- Assign all clients to a single service category
- Automatically rebalance client portfolios
Correct answer: Group clients by shared characteristics (wealth tier, product usage, risk profile) for targeted outreach
Segmentation allows CRM users to filter and group the client base for targeted communications, service differentiation, and efficient resource allocation.
Question 3: A 'single customer view' (SCV) in CRM means:
- Each client can only have one account with the firm
- A consolidated, unified record of all client data, interactions, and holdings across all products and channels (Correct answer)
- Only one staff member can access each client record
- A simplified client dashboard with minimal data
Correct answer: A consolidated, unified record of all client data, interactions, and holdings across all products and channels
SCV aggregates all information about a client from every system and channel into one comprehensive record, eliminating data silos.
Question 4: Data governance in financial CRM primarily ensures that:
- Clients can access any data the firm holds
- Client data is accurate, consistent, secure, and used in compliance with regulatory requirements (Correct answer)
- All data is deleted after 12 months
- Only senior managers can view client records
Correct answer: Client data is accurate, consistent, secure, and used in compliance with regulatory requirements
Data governance frameworks define policies for data quality, access controls, retention schedules, and compliance to protect both clients and the firm.
Question 5: Which technology automates repetitive CRM tasks like sending follow-up emails, scheduling reminders, and updating client status fields?
- Blockchain
- Workflow automation / CRM automation rules (Correct answer)
- Quantum computing
- Data lake architecture
Correct answer: Workflow automation / CRM automation rules
CRM automation rules trigger predefined actions based on events or conditions, freeing relationship managers to focus on high-value, personalized interactions.
Question 6: When evaluating CRM data for cross-sell opportunities, a relationship manager should FIRST consider:
- Which products have the highest margin for the firm
- Whether the product or service meets the client's documented needs and risk profile (Correct answer)
- Which products are easiest to explain
- The client's length of relationship with the firm only
Correct answer: Whether the product or service meets the client's documented needs and risk profile
Suitability must come before profitability—any cross-sell opportunity must be evaluated against the client's needs, goals, and risk tolerance.
CRM CRM Technology & Data Management 2
Which CRM feature allows managers to track which clients haven't been contacted within a defined period?