Exam Questions and Answers for 700-805 Study Guide Questions and Answers!
Cisco Renewals Manager Certification Sample Questions and Practice Exam
NEW QUESTION # 43
What support should an RM take from the CSM?
- A. Communicate new greenfield opportunities.
- B. Oversee the closure of contracts.
- C. Book customer-service briefings.
- D. Communicate value and the impact of Cisco solutions.
Answer: D
Explanation:
Communicate value and the impact of Cisco solutions to the customer
Help the customer achieve their desired outcomes and realize the full potential of their investment Provide feedback and insights on customer health, satisfaction, and adoption
NEW QUESTION # 44
Which service offering helps define the IT vision and strategy of the customer?
- A. optimization
- B. advisory
- C. training
- D. support
Answer: B
Explanation:
According to the Cisco website1, advisory services from Cisco and their partners provide expert guidance and data-driven insights to help customers architect and optimize their IT environment. Advisory services can help customers with:
IT strategy and planning
Business and technology alignment
IT governance and operating models
IT transformation and innovation
IT performance and optimization
NEW QUESTION # 45
Which success indicator for a Renewals Manager is valid?
- A. increased deployment of licenses
- B. new product introductions
- C. stabilized customer satisfaction scores
- D. on-time renewal
Answer: D
Explanation:
A success indicator for a Renewals Manager that is valid is on-time renewal. On-time renewal measures the percentage of customers who renew their contracts with Cisco before or on the expiration date. On-time renewal reflects the Renewals Manager's ability to retain customers and revenue, as well as to increase customer satisfaction and loyalty. On-time renewal also reduces the risk of losing customers to competitors or alternative solutions. On-time renewal is calculated by dividing the number of customers who renew on time by the number of customers who are eligible to renew in a given period. On-time renewal is different from other metrics such as increased deployment of licenses, stabilized customer satisfaction scores, or new product introductions, which are not directly related to the Renewals Manager's role or performance.
NEW QUESTION # 46
Which licensing model represents the highest value?
- A. Pay as you go
- B. Subscription
- C. Transactional
- D. Enterprise Agreements
Answer: D
NEW QUESTION # 47
Which service offering helps define the customer's IT vision and strategy?
- A. Training
- B. Support
- C. Optimization
- D. Advisory
Answer: D
Explanation:
Cisco offers different types of service offerings to help customers achieve their IT vision and strategy, such as support, optimization, training, and advisory. Among these options, the one that best helps define the customer's IT vision and strategy is advisory. Advisory services from Cisco provide expert guidance and insights to help customers design and deploy new solutions, streamline existing operations, or optimize their IT. Advisory services can also help customers align their IT goals with their business priorities, identify opportunities for innovation and growth, and measure and report on key performance indicators.
NEW QUESTION # 48
Which statement best describes the Success Plan?
- A. a tool for report ng actions to management
- B. the blueprint for account teams to achieve customer success
- C. a shareable document that captures all account activities
- D. a document capturing a comprehensive view of all customer health scores
Answer: D
NEW QUESTION # 49
Which two actions does a partner or customer perform within CCW-R? (Choose two.)
- A. set up billing
- B. order new services
- C. view and manage their contracts
- D. change Customer Address
- E. download hardware, software and services data sheets
Answer: C,D
NEW QUESTION # 50
An important Cisco customer has a large number of individual licenses for Cisco One in Enterprise Networking and engages many Webex users.
The customer has expressed the intention to grow both groups and needs a compelling and simplified proposal.
Which Cisco offer represents the best value for the customer?
- A. Prepare a Partner Branded Managed Service deal.
- B. Ask Cisco team to engage into a Smart Account or Enterprise Agreement annd propose a creation of a Customer Success Plan.
- C. Suggest a simplified discount DSA with the total of licenses from each product Cisco One and Webex.
- D. Propose to migrate to perpetual model.
Answer: B
NEW QUESTION # 51
Which detail is provided in the scorecard by using the Total Program View tool?
- A. new products
- B. renewal rate
- C. program rate
- D. EOL products
Answer: B
Explanation:
According to the Total Program View (TPV) User Guide1, the scorecard is a dashboard that provides a summary of the partner's performance across different programs and metrics. One of the metrics that is provided in the scorecard is the renewal rate, which is defined as:
* The percentage of recurring revenue that is retained or renewed within a defined time period (usually
90, 180, or 365 days)
* A key indicator of customer satisfaction, retention, and loyalty
* A factor that affects the partner's incentives and rebates
References: 1: TPV User Guide - Cisco
NEW QUESTION # 52
Which licensing model is the most complex for a customer to manage?
- A. Subscription
- B. Enterprise agreement
- C. Managed service agreement
- D. A La Carte
Answer: C
NEW QUESTION # 53
Which action can a Renewals Manager take to drive value in the account?
- A. Align partners on training.
- B. Removing adopt on barriers.
- C. Def ne the account forecast.
- D. Manage and mitigate renewal risk.
Answer: D
Explanation:
An action that a Renewals Manager can take to drive value in the account is to manage and mitigate renewal risk. Renewal risk is the possibility that a customer will not renew their contract with Cisco at the end of their term, resulting in revenue loss and customer churn. Renewal risk can be caused by various factors, such as low adoption, poor satisfaction, lack of value realization, competitive pressure, budget constraints, or organizational changes. A Renewals Manager can manage and mitigate renewal risk by:
Identifying and prioritizing the accounts that have the highest risk of non-renewal, using data and tools such as ATR (Annualized Total Revenue), ARR (Annual Recurring Revenue), iARR (Incremental Annual Recurring Revenue), TPV (Total Partner Value), icebreaker (a tool that provides insights into new and unique business prospects), and Adopt on Scores (a tool that provides insight into how well customers are utilizing service and software they purchase from Cisco).
Developing and executing a risk mitigation plan for each high-risk account, involving actions such as engaging with the customer, understanding their needs and challenges, demonstrating value and ROI, addressing any issues or concerns, proposing improvements or enhancements, offering incentives or discounts, or leveraging partners or references.
Monitoring and tracking the progress and results of the risk mitigation plan, using data and tools such as CCW-R (Cisco Commerce Software Subscriptions and Services), which is a tool that allows customers and partners to quote, order, and manage their service contracts and software subscriptions from one place; and Customer Success Plan, which is a document that captures the account team's strategy and actions to achieve customer success.
Collaborating with other account team members, such as Customer Success Managers, Account Executives, or Sales Engineers, to align on the renewal strategy, share information and insights, coordinate activities and touchpoints, and deliver a consistent and positive customer experience.
By managing and mitigating renewal risk, a Renewals Manager can drive value in the account by increasing the chances of a successful renewal, retaining customers and revenue, enhancing customer satisfaction and loyalty, and creating opportunities for upsell or cross-sell.
NEW QUESTION # 54
What is the ideal licensing option?
- A. Smart License
- B. Standby License
- C. Right to Use
- D. Classic PAK
Answer: A
NEW QUESTION # 55
How does Cisco define AT R?
- A. Any customer agreement where attrition has been an issue.
- B. Contracts/subscriptions that are available to renew.
- C. ATR is the sum of RR and iARR, minus the attrition rate.
- D. Contracts/subscriptions that have attrition terms revoked.
Answer: B
Explanation:
A: Contracts/subscriptions that are available to renew.
Comprehensive and Detailed Explanation: According to the Cisco website1, ATR stands for Available To Renew, which is defined as:
* Contracts/subscriptions that are available to renew within a defined time period (usually 90, 180, or 365 days)
* A key metric for measuring the renewal opportunity and performance
* A report that shows the contract details, status, expiration date, product coverage, etc.
References: 1: Cisco Renewals Manager - Cisco
NEW QUESTION # 56
Which two actions can a partner or customer perform within CCW-R? (Choose two.)
- A. set up billing
- B. order new services
- C. download hardware, software and services datasheets
- D. view and manage their contracts
- E. change Customer Address
Answer: D,E
Explanation:
According to the CCW-R User Guide5, some of the actions that a partner or customer can perform within CCW-R are:
* Change Customer Address: This allows the user to update the customer address information for a quote or an order.
* View and Manage their Contracts: This allows the user to view their contract details, status, expiration date, product coverage, etc., as well as request a quote or renew their contracts.
References: 5: CCW-R User Guide - Cisco
NEW QUESTION # 57
What is the primary measurement of success for a Renewals Manager?
- A. renewal success rate
- B. percentage of contracts closed
- C. upsell percentage
- D. iARR rate
Answer: A
Explanation:
The primary measurement of success for a Renewals Manager is the renewal success rate, which is the percentage of customers who renew their contracts with Cisco at the end of their term. The renewal success rate reflects the Renewals Manager's ability to retain customers and revenue, as well as to increase customer satisfaction and loyalty. The renewal success rate is calculated by dividing the number of customers who renew by the number of customers who are eligible to renew in a given period. The renewal success rate is different from other metrics such as upsell percentage, percentage of contracts closed, or iARR rate, which are not directly related to the Renewals Manager's role or performance.
NEW QUESTION # 58
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Salary Cisco 700-805: Cisco Renewals Manager
United States: 100,000 USD Europe: 85,000 Euro India: 7,500,000 INR England: 71,500 Pound
Cisco 700-805 exam is designed for professionals who want to enhance their skills and knowledge in Cisco’s renewals management. 700-805 exam evaluates the candidates’ ability to manage a customer’s lifecycle, drive customer success, and ensure renewals. Cisco Renewals Manager certification is beneficial for professionals who wish to advance their career in sales, business development, and customer success.
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