MQI Exam A+ Pass CORRECT DETAILED ANSWERS WITH RATIONALES

MQI Exam A+ Pass CORRECT DETAILED ANSWERS WITH RATIONALES What is C & I - Answer- Customer and internal revenue What is net other - Answer- Composed of package sales, GPS, satalite radio goal per branch $120 rates, mileage fees, upgrades, length of the rental days earned time and miles-goal $100 Calculate break even (what is it) - Answer- Total income-operating profit (All expenses) Know the expenses in direct cost and the expenses in operating expense - Answer- Gross costs Personnel expense Operation expense Brach overhead Group overhead Corporate overhead Operation expense- LOFRs and gas Know three circumstances that could lead to chargebacks (goes bad at end of month, give branch security) - Answer- *Using credit card in someone else's name Hidden card without speaking with customer Not swiping it Multiple charges in one day Know what is included in bad debt and three ways to control it - Answer- Goes bad after 30 days (retail) 90 days (dealership) Make sure everything is good before during and after rental Proper underwriting Call backs Rewrites Branch overhead - Answer- Cost of running the branch - utilities/can keep this up by growing fleet difference between customer satisfaction and bad debt - Answer- Customer satisfaction- adjustments with customer(smelly car) Bad debt- with accounts not paying Four components of personal expense - Answer- Hourly wages Benefits Bonuses/commissions Payroll tax Purpose of close pending a ticket - Answer- To seek an extension from a direct bill for payment, waiting for information, drop at another location When to backdate or void a ticket - Answer- Cancel it by coming in accurate drop date Understand the three main reasons we would want to be right tickets in 30 days - Answer- New York State lapse of insurance after 30 days Determine if the vehicle needs maintenance Update on the deposit Insurance can decline cover cost of damage after 30 days-liability Process of a DNR customer - Answer- Ticket number, phone number, amount owed, notify management emailing a customer - Answer- Log into rental financial systems Click invoices Invoice inquiry Search customer invoice by various ways such as last name ticket number phone number Invoice pops up click on invoice number hyperlink Click send/print Enter in credentials Click on email and enter and customers requested email address Click OK Adjust an invoice/refund - Answer- Type name Adjustments Calculate Payments Put reason Know how to collect a payment on AR in RFS - Answer- Open rfs Accounts receivable AR inquiry Search/Type name Check the box for account Adjustments Calculate Payments Put amount Why it's important to go to the bank on a daily basis - Answer- Branch security, close the cash box to keep a correct every day steps included to complete the cashbox - Answer- Log into rental financial systems Click on cashbox 1 Click on open cashbox Type in credentials Put amount into check spot enter zero in cash spot Hit close cash box Make sure there's no discrepancies Hit close again Quick history then search day and print receipt Know the steps to find a cash box cover or shortage - Answer- Recount CRS- tracker for all payments received an office Check tickets Ask the staff Know what to do if you were the manager and employee or do use the gas card for personal use - Answer- Considered theft and could be considered for termination from the company-let them know it's wrong and put SEL (significant event long) in, tell management Purpose of the compliance and ethics Committee - Answer- To ensure that our employees are complying with their ethical responsibilities, and somewhere where the employees can go to feel safe about reporting unethical behavior Members of compliance and ethics committee - Answer- Ted Maurer Dixie niemi Whitney khusdsen Dean Bekridakis Doug allsbrooks Norm pimm Slav Valkanov