Topic 1: Objections and Queries · Web viewThe gentleman needed to understand more about the...

Tata AIA WBT Storyboard

Module: Objection HandlingTA Intervention Period Business Metric Intervention Type

NLA M0-M3 Month-on-month activation WBT

Learning Objectives Recognise the difference between queries and objections. Apply the Three As Approach to handle objections. Recognise some typical objections often raised by customers. Identify how to handle typical objections.

Module Structure

Topic Screens Description/CommentsSplash 1. Animation on the theme of objectionsMenu 1. Static screenTopic 1:Objections and Queries

1. Objection Handling — Finding New Opportunities2. Objection Types 3. Find the Difference4. Module Objectives

Screen 1 explains the difference between objections and queries through a nuggetScreen 2 lists the different objection types throughout the sales process.Screen 3 is a Your Take where learners distinguish between objections and queries.Screen 4 presents the objectives.

Topic 2: 1. While Seeking an Appointment on the Phone Screen 1 explains the 3Fs approach. Screen 2 gives an

Tata Interactive Systems 1


The 3Fs Approach 2. Handling Initial Objections example of how this approach can be implemented.

Topic 3: The Three As Approach

1. During a Face-to-Face Meeting2. Acknowledging, Asking and Answering3. Your Take

Screen 1 explains the meaning of the Three As.Screen 2 explains the difference in the context of a scenario.Screen 3 is an Interactivity to test understanding.

Topic 4: Handling Common Objections

1. Common Objections2. Handling the Objections3. Your Take4. Your Take

Screen 1 presents the four most common objections and lists their associated disadvantages.Screen 2 explains how the Thee As are used to handle one of the objections in the context of a scenario.Screen 3 is an interactive knowledge check on applying the Three As in context.Screen 4 is a simple question on one of the common objections.

Topic 5:Summary

1 Key Learning Points Static text.

Topic 6:Quiz

1. Intro to Quiz (Test yourself)2. Question 13. Question 24. Question 35. Question 46. Question 5

Results (pop-up, not a screen)

Five MCQs on objection handling.

No. of screens/Seat time 22 screens 22 minutes approximately

Note to Reviewer: Text in grey will not appear on screen or be spoken in the audio.

Screen No. 0Screen Title SplashOn-Screen Text With the first line of audio (please change the text “Brand” to “No”.):

id498858720Boss and employee image with second line of audio. (Please insert a speech bubble pointing towards the seated figure with the



following words “No, there will be no pay hikes this year.”

id108617799Display the following two images with the third line of audio (In the first image, please turn the speech bubble towards the older figure and insert the following text “No you can’t have more pocket money.” In the second image, insert a speech bubble pointing towards the man with the following words: “No I don’t have time to talk now.”

id469142336 id185627216Show the following image with the fourth line of audio. (Please insert a speech bubble pointing at the figure on the left with the following words: “No, I really don’t need a new phone.”

id166054396With the last lines of audio, display a set of thumbs down signs that flip over to thumbs up as the audio progresses.

id578586506

Audio Transcript

All of us face objections in our day-to-day lives.

Sometimes from people in office,

Sometimes from our own friends and family...our parents, children, husbands or wives.

And sometimes from complete strangers.



The trick is not to feel upset. When someone says “No”, think how you can turn it into a Yes.

Graphic Description

Display the images in the TOS section along with the TOS given there in sync with the corresponding lines of audio.

Screen No.Screen Title MenuOn-Screen Text 1. Objections and Queries

2. The 3Fs Approach3. The Three As Approach4. Handling Common Objections5. Summary6. Quiz

i-text Click or tap a topic to begin.Audio Transcript

Click or tap a topic to begin.

Graphic Description

Display any of the two images provided below.

id467064968 id488439064

Topic 1: Objections and Queries

Screen No. 1Screen Title Objection Handling — Finding New Opportunities



On-Screen Texti-text Click or tap Play to view the video.Audio Transcript

What is an objection? It is a statement made by the customer expressing disagreement with something you have said.What does this indicate? View the video to learn what objections are. Click or tap Play to view the video.

Graphic Description Video

Screen No. 2Screen Title Objection TypesOn-Screen Text

No moneyNo needNo time/hurryNo trust

I-textAudio Objections may occur at any point in the sales process, when you are making an appointment, opening a call, gathering information,


Debnath, Himadri, 06/01/17,

Once you have established difference between objection and Query, establish that in general there are 4 types of objection No MoneyNo NeedNo HurryNo TrustAlso note that objection can crop up anytime during the call, however trust factor will not come at the end of call (if one has done properly opening, gathering information and pitching solution)TIS: Added screen.


Transcript preparing your analysis, presenting the solution or closing a sale.

In general, there are four types of objections. No money, no need, no time or no hurry and no trust. In the next topic we look at how these objections can be dealt with, using the 3Fs and the 3As approaches.

Graphic Description

Show the sales process. Highlight the text in sync with audio. Fade in the text on the image with the image dimmed out.

Screen No. 3Screen Title Find the DifferenceOn-Screen Text Take a look at the two customer statements and identify if they are objections or queries.

I-text Select Objection or Query for each of these scenarios. Then click or tap Submit.

Option 1(this is a query)

Image:

id499284008Speech bubble text:I don’t understand how this can be an advantage. My money will double in about 15 years. Where’s the benefit in that?

Option 2(this is an objection)

Image:

id491116590Speech bubble text:I don’t need insurance. I have mutual fund investments that are performing very well. And other investments too.

Audio Transcript

Most statements that appear to be objections are actually queries. Can you tell the difference? Select Objection or Query for each of these scenarios. Then click or tap Submit.

Feedback for Absolutely right!



correct answer The gentleman needed to understand more about the solution and its benefits. Although he was speaking strongly, he was actually raising a query for more information. The sales representative needs to provide this. The lady, on the other hand, was raising an objection. She had alternative investments that she felt were better. In this case, the sales representative needs to point out the pitfalls of these alternatives and explain the comparative benefits of insurance.A query is merely a request for more information regarding your solution. An objection is a roadblock that can prevent closure and has to be handled carefully to prevent that from happening.

Feedback for correct answer

Not really.The gentleman needed to understand more about the solution and its benefits. Although he was speaking strongly, he was actually raising a query for more information. The sales representative needs to provide this. The lady, on the other hand, was raising an objection. She had alternative investments that she felt were better. In this case, the sales representative needs to point out the pitfalls of these alternatives and explain the comparative benefits of insurance.A query is merely a request for more information regarding your solution. An objection is a roadblock that can prevent closure and has to be handled carefully.

Graphic Description

This is a radio button template. The two options (including images and speech bubbles) will be in one column. The second and third columns will have radio buttons and have the headers Objections and Queries.The learner will select any one of the options for each scenario and then select submit.

Screen No. 3Screen Title Module ObjectivesOn-Screen Text By the end of this module, you will be able to:

Recognise the difference between queries and objections. Recognise some typical objections often raised by customers. Describe the Three Fs approach to handling objections on the phone. Describe the Three As Approach to handle objections. Identify how to handle typical objections.

Audio Transcript

By the end of this module, you will be able to: Recognise the difference between queries and objections.



Recognise some typical objections often raised by customers. Describe the Three Fs approach to handling objections on the phone. Describe the Three As Approach to handle objections. Identify how to handle typical objections.

Graphic Description

Standard objectives image and text.

Topic 2: The 3Fs ApproachScreen No. 1Screen Title While Seeking an Appointment on the PhoneOn-Screen Text Display the image below with the text following showing in the speech bubbles:

id489481234No needNo money No trustNo timeWith the second para display the following heading and buttons:The Feel, Felt, Found TechniqueFeelFelt Found

I -text Click or tap each button to learn more.Pop-up 1 textFor Feel

FeelExample:“Sir, I understand how you feel.”



Relate back to the feedback given in the beginningThis category is also true for Face to Face objections with No time getting replaced with No HurryTIS: Incorporated.


There should be separator that now we are going to see how to handle objection over telephone.Also note while handling objection over telephone, the objective is getting appointment not selling policy over phone, so one should never try to resolve objection then and there on the telephone, as there could be possible that objection is not handled properly and you don’t even get appointment. Objections are best handled face to face.TIS: Fixed.


When a customer objects before your conversation has even begun, disarm them by showing empathy. This also shows that you have been listening attentively.

Pop-up 2 text for Felt

FeltExample:“Many of my other customers felt the same way initially.”This reassures the customer because it shows that their concern is valid and has been expressed by others and they’re not just being difficult. It also shows that you have handled such situations before. This creates confidence and builds trust.

Pop-up 3 text for Found

FoundExample:“However, after our discussion, they found that it was beneficial………”This suggests that a discussion may not be a waste of time as others have found value in it. Moreover, a third party recommendation is also inherent in this part of the technique.

Audio Transcript

When you’re seeking an appointment with a prospect over the phone, objections like these are very common. No need!No money! No trust!No time!

You can handle these initial objections during your call using the Three Fs, the Feel Felt Found technique. Feel enables you to empathize with the customer, Felt validates the objection as it provides evidence that other people often feel the same way initially, and Found explains why you should meet despite the initial feeling.

Click or tap each plus symbol to learn more.Graphic Description

With the first para of text, display the speech bubbles one by one with the TOS in them. This will form the image on the left.With the second para of text, display the heading and buttons on the right. Display pop-ups when the buttons are clicked. Here’s the template you can use with some modification:



These objections can be handled by 3 A technique also. Please note the difference is FFF technique is used over telephone and AAA technique is used in face to face meeting. Change the conversation accordinglyTIS: Changed.


Screen No. 2Screen Title Handling Initial ObjectionsOn-Screen Text Mr Mohanty image and speech bubble text:

id475710211“I really don’t have time for a discussion. I’m very busy and I already have life insurance.”Pallavi image and speech bubble text:

id475826412“I appreciate the fact that you already have life insurance and I understand how you feel, Sir.”Mr Mohanty image and speech bubble text:

id475628679“Okay, that’s good.”Pallavi image and speech bubble text:

id475871102“Initially, many of my other successful clients felt the same way too.”Mr Mohanty image and speech bubble text:

id475614797“I see.”Pallavi image and speech bubble text:

id475841730



Appreciate the fact that you already have life insurance and I understand how you feel …TIS: Added.


“However, after our discussion, they found it well worth the time spent for creating complete financial roadmap for them and their loved ones, I am sure you will also find value in the discussion. I will not take more than half an hour.”

id475544621“Oh, all right then. Monday 9:30 and don’t be late. And come prepared, I’m not a likely customer.

Pallavi image and speech bubble text:

id475841730“I promise you that I will not try to sell you anything during these thirty minutes. If you do not find any value in the discussion after our meeting, I will not bring it up again, unless you wish to do so. We will discuss it further only if you wish to do so.”

I -text Click the arrow buttons to view the conversation.Audio Transcript

Now let’s see how the Feel Felt Found Technique works. Tata AIA sales representative Pallavi has called up a prospect, Mr Santosh Mohanty, to fix up an appointment. Mr Mohanty says he isn’t interested because he already has a life insurance policy. Let’s see how Pallavi handles the situation.

Click the arrow buttons to view the conversation.

Graphic Description

Use slide show template

Topic 3: The Three As Approach



At the end of the conversation add, further Pallavi can state three promises to reassure consumer that she is not like other life insurance sales representative who come to sell policy rather than giving solution as per the need of consumerTIS: Added the three promises to the conversation.

Bhavna Shrivastava, 16/02/17,

Alpha feedback.


Screen No. 1Screen Title During a Face-to-Face MeetingOn-Screen Text1

How should you respond to an objection?Follow the Three As ApproachAcknowledge Ask Answer

I-Text Click or tap each plus symbol to see some examples.Pop-up text for Acknowledge

AcknowledgeI understand that you like to invest in the stock market.I get your point: gold prices don’t fall.I understand that you feel FDs are a secure form of investment.You are putting all your savings in real estate: did I get that right?

Pop-up text for Ask

Ask Is that the only reason why you would not opt for this solution?Are your stock investments protected against market fluctuations?Do you buy gold biscuits or jewellery?So, are all of your savings in FDs?What is the current value of your real estate investments?

Pop-up text for Answer

AnswerThank you for explaining.

If markets are down when you need to liquidate your shares, your returns may be lower than expected. I know your children will greatly value your jewellery. That’s why they will hesitate to sell even if they have an urgent

requirement. Though FDs are secure, the interest is taxable. So the returns will be proportionately lower. Thanks for that information. Would you allow me to say a few things about real estate investments?

Audio Transcript

If a customer objects to something you say, try not to react immediately and negatively. Stop, think and respond in a way that increases your chances of overcoming the objection. As during the initial phone call, throughout the sales process, the most common objections continue to be no need, no money, no hurry and no trust. During a face to face meeting, the 3 As approach works wonders for handling objections. Acknowledge, Ask and Answer.Acknowledging demonstrates empathy and makes the customer want to carry on the conversation.Asking questions helps you to understand the actual nature of the objection and makes the customer think.



Put them as bullet points as these are answers to different objections


Once you have asked that the objection is the sole reason for blockade, then one can ask all these questionsTIS: Done.


The comments given during Nugget creation should have been incorporated here.During Ask Section, one may ask “Is that the only reason because of which you are not taking decision today?” (Don’t take verbatim)Second version may beIs this the only reason why you would not go for this solutionTIS: Added.


This is more of an agreement rather than acknowledging the person“I understand you feel FD is a secure form of investment”TIS: Changed.


Answering involves pointing out the logical flaws in the objection and the benefits of a suggested alternative.

When you handle an objection effectively, they become opportunities rather than objections and pave the way to a successful closure.Click or tap each plus symbol to see some examples.

Graphic Description

Display the following image with the first paragraph of text.

id511871814Then display the text on screen with the following images for Acknowledge, Ask and Answer (In the speech bubble, draw a smile).

Acknowledge Ask AnswerYou could use the template below.

Screen No. 2Screen Title Acknowledging, Asking and AnsweringOn-Screen Text1

Alok:I think other avenues help grow the money much faster. If something happens to me, I’m sure it will be better for my family to have more money than less.Vinod:I understand your focus on increasing your corpus. With prices rising all the time, most of us are looking for ways to beat inflation.Alok:Exactly. I cannot block my money in an investment that gives low returns. My money is in the stock market.Vinod:Sir, is this the only reason why you would not go for this solution?



Sir, Is this the only reason why you would not go for this solutionPost customer’s answer you can proceed with the remaining conversationVinod: In ASK should be “ Is this the only reason why you would not go for this solution “ ? Alok: Yes Vinod: May I know the reason for investing in share market?Alok : Answering ( high returns etc ) Vinod : Are your investments protected against market fluctuations ?....TIS: Done.


Alok: That’s correct.Vinod: May I know the reason for investing in the stock market?Alok: Oh, returns are really high and I can pull out at any time.Vinod:I read from time to time that stock markets keep fluctuating. Are your investments secured against this? Are you sure they will give the returns you need just when you need it? Suppose markets are low at that point? Won’t your returns be low if you liquidate?Alok:Yes, that is one of the risks. Everything has a negative side. However, I still feel it’s better to grow than stagnate.Vinod:I agree, Sir. I could offer you a solution that would give you guaranteed returns, regardless of market fluctuations. In addition, it would secure your life as well as protect the goal from Day 1 even if something were to happen to you before you made the full investment. Wouldn’t that be worth looking at?Alok:Okay, I’m listening. Please explain your solution.

I-text Click the arrows to view the conversation.Audio Transcript

Let’s now take a look at how the Three As work in a conversation. Tata AIA sales representative Vinod is meeting Alok, a 35-year old finance executive who has never invested in life insurance. He’s raising the “No need” objection.

Click the arrows to view the conversation.Graphic Description

Use the following template to display the conversation.

Images you could use (you will need to edit them to suit your requirements):

id479158632 id479164966 id479158636 id492462212



Screen No. 3Screen Title Your TakeOn-Screen Text Identify the scenario in which the Three As approach is being followed correctly.

I-text Select the correct option and click or tap Submit.Option 1

id103952083Mrs Malhotra prefers to invest in gold. “I feel gold prices rise faster than anything else and it’s a better investment than life insurance!” Speech bubble for sales representative icon: “But Madam, in case something happens to you, it will give no additional protection. Besides, you will lose all the making charge.”

Option 2(correct)

id171207199 “I am an ordinary, salaried man,” says Ranjan. “I don’t have a lot of extra money and I like to keep it completely secure. So FDs are my investment choice.” Speech bubble for sales representative:“I understandyou prefer the security of FDs. Do you put all your savings in just that instrument? If you give me a chance, I could talk about a solution that would keep your money secure.”

Option 3

ID:485118149Parvati already has a flat of her own and is now looking to invest in a house. “I feel property prices rise consistently and it’s a better investment than life insurance!” Speech bubble for sales representative icon: “Let me tell you something about property transactions: the tax on it is very high so you may not get as much as you think. Have you thought of that?”



Feedback for correct

Well done!You’re quite right. The sales representative talking to Ranjan was following the Three As approach correctly. The representatives talking to Mrs Malhotra and Parvati made the mistake of contradicting the customer and attempting to teach them about investments.

Feedback for incorrect

Not really.The sales representative talking to Ranjan was the only one to follow the Three As approach correctly. The representatives talking to Mrs Malhotra and Parvati made the mistake of contradicting the customer and attempting to teach them about investments.

Audio Transcript

Now let’s see how well you have understood the Three As approach. Here are three scenarios. Identify the one in which the Three As approach is being followed correctly.Select the correct option and click or tap Submit.

Graphic Description

This is an MCQ with three options. Here’s a template you could use.

Topic 4: Handling Common Objections

Screen No. 1Screen Title Common ObjectionsOn-Screen Text

id478602354 id488690713Label:Stocks and Shares



id103952098 id139890630Label:Gold

id171225892 id515811352?s=2048x2048Label:Fixed Deposits

ID:485118149 id144188691Label:Real Estate

I -text Click or tap each plus symbol to learn about the drawbacks of these investments.Pop-up 1 text Stocks and Shares

1. Uncertain returns: Dividends depend on performance of companies in the portfolio.2. Distress selling risk: The markets may be low at the time you need to sell.3. Protection factor: No life cover.4. Tax: Dividend income is sometimes subject to tax.5. Constant monitoring is required.

Pop-up 2 text Gold1. Hard to sell: Most people hesitate to sell because of emotional or other reasons.2. Making charge lost: This can amount to 25% of total value.3. Protection factor: No life cover.4. Tax: Large sales can attract taxes.5. A distress sale might not yield the desired results.



Distress selling risk is with all investmentSelling at lower than market price due to usage and wear and tearTIS: Added.


Constant monitoring requiredTIS: Added.


6. Wear and tear resulting from usage reduces value.

Pop-up 3 text Fixed Deposits1. Distress selling risk: Banks charge a penalty on premature closure.2. Protection factor: No life cover.3. Tax: Interest earned is subject to tax that can amount to 30% (excluding cess)4. Interest rates reduce as the duration increases. 5. Investing for shorter periods, with the intention of reinvesting on maturity is risky. The interest rates may be lower than at the point of inception.6. In case of bankruptcy banks are liable to return money only up to the sum assured provided by deposit linked insurance.

Pop-up 4 text Real Estate1. Distress selling risk: Sellers often have to offer 15-20% discount.2. Uncertain returns: No guarantees on how much prices will appreciate.3. Protection factor: No life cover.4. Tax: Long term capital gains tax can be as high as 20%.5. The requirement for cash might be for a lesser amount, for example for college admission. 6.New government rulings might adversely affect the real estate markets.

Audio Transcript

You have already met four prospective Tata AIA customers. The different objections they raised are also the most common objections that you, as a sales representative, are likely to face when pitching.

Do you remember what the customers had said?Alok had preferred to invest in stocks because of the higher returns.Mrs Malhotra had preferred jewellery because gold prices never fall.Ranjan had preferred FDs because he wanted his money secure.Parvati had preferred real estate because prices always appreciate.

Each of these objections fall into the “No need” category because they believe that by investing in other vehicles, they no longer need a Tata AIA solution.How will you handle these objections? By explaining their disadvantages.

Click or tap each plus symbol to learn about the drawbacks of these investments.



There is only long term capital gain tax, which is 20%TIS: Fixed.


Since real estate market in not regulated like other investments, any future government ruling may adversely affect the real estate marketTIS: Added.


Also Note that for your financial goal let’s say higher education, one need “x” amount for only admission, will the person be able sell a portion of his/her real estate?TIS: Done


Depends on bank to bankTIS: Fixed.


In general the longer the duration, lower is the interest rate. The maximum tenure available is 10 years. However generally people tend to go for maximum 5 years. That poses reinvestment risk. As one the tenure is over, you might invest at lower rate that what was available at inceptionAlso remember in case of bankruptcy, bank is only liable to return money only up to sum assured provided by deposit linked insurance (1 Lakh per individual) irrespective of no. of accountsTIS: Added.


Graphic Description

With the first paragraph of audio, display the following image. Write the word “Objections” across it in animation. This will form a circle in the middle.

id152986710With the second para of audio, display the two images provided in the TOS row for each corresponding line of text, along with the label. Each pair of images will form an item arranged around the central circle. Here is a template you can use.

Once the animation stops, the plus signs should appear beside each image and the corresponding I-text. Clicking these will open the pop-ups. If it fits, allow the pop-up text to remain on screen. If the pop-ups don’t remain on screen, then include the image within them.

Screen No. 2Screen Title Handling the ObjectionsOn-Screen Text(This will be the Audio button)

Parvati:I invest in property. The property market is always rising. My flat is already worth 50% more than what I paid for it. Insurance can’t compete.Vinod:I do appreciate your point of view. Property prices are very high these days. Insurance may be a different kind of product, though. Ma’am, if you don’t mind, would you explain a bit more? Do you put all your savings into property?Parvati:Not all. I have the office PF and PPF as well. Vinod:



Change the conversation as per the feedback given in previous page and comments provided by Ramnath


Assuming this is the beginning of the conversation, since this kind of conversation will not happen at the end of call. And the situation has to be highlighted on the screen


I see. Vinod:Let me share some interesting facts about investing in real estate. With property, there are no guarantees on how much prices will appreciate and the long term capital gains tax that you will have to pay could be as high as 20%, reducing your gains considerably. Parvati:You’re right about that. I know.Vinod:You also need to consider a scenario where your requirement is for a much smaller amount than the value of your property, for example, your daughter Reena’s college admission. Would you sell your property for that?Also, property doesn’t provide a life cover. If you’re buying real estate with bank loans and something were to happen to you before you paid them off, the bank would foreclose. With insurance, you can lead a peaceful, tension-free life because your family would be taken care of if any unfortunate event were to occur, God forbid. If I offer a guaranteed solution that ensures a corpus is available when Reena reaches the age of 18 and you need to put her through college, would that interest you?

Parvati:Hmm. Yes. Tell me more.

I-text Click or tap the arrows to view the slideshow.Audio Transcript

Now that you know the disadvantages of alternate investments and the Three As method, all you have to do is put the two together in order to handle objections. Let’s see how Vinod, a Tata AIA representative responds to Parvati’s objection when she says that she doesn’t need insurance.Click or tap the arrows to view the slideshow.

Graphic Description

Slideshow template. Use two images of the characters mentioned above...you needn’t use a composite image. Have a single speech bubble between them that changes directions alternatively.(Note to graphics: There are 11 speech bubbles. Please try to accommodate.)

ID:485118149 Parvati



ID 479158632 Please crop and use the person in the white shirt. Vinod.

Screen No. 5Screen Title Your TakeOn-Screen Text Identify the important fact about gold that the sales representative leaves out from the following response:

Madam, most Indian ladies don’t like to sell their jewellery for emotional and other reasons. Besides, if you do sell, you lose the labour charges which can amount to 25%. Also, there can be taxes on large sales of gold.”

I-text Select the correct option and click or tap Submit.Option 1 He did not mention that gold investments have no life cover.

Option 2 He did not mention that making charges are lost.

Option 3 He did not mention that there may be a penalty on sales.



Option 4 He did not mention that a distress sale could result in losses.

Option 5 He did not mention that wear and tear from usage reduces the value of gold.Feedback for all correct

Good job.The sales representative did not mention that gold investments have no life cover and that wear and tear reduces its value. He also did not mention that distress sales could result in losses.

Feedback for one or more incorrect

Not really.Afraid not.The sales representative did mention that making charges are lost. Moreover, there is a penalty on premature closure of FDs, not on gold sales. And distress sales of property, not gold, often result in a 15-20% discount. What they failed to mention is that gold investments have no life cover.

The sales representative did not mention that gold investments have no life cover and that wear and tear reduces its value. He also did not mention that distress sales could result in losses.

Audio Transcript

Now that you know the method and facts required to handle objections, try your hand at this activity. Here, a sales representative is handling an objection related to investments in gold. You need to identify the important facts that he has left out.Select the correct option and click or tap Submit.

Graphic Description

This is a multiple select question.(Note to graphics: This one has 5 options) We can reduce 1 if required.

Screen No. 6Screen Title Your TakeOn-Screen Text Which of the following statements do not apply to fixed deposits?

I-text Select all the correct options and click or tap Submit.Option 1 Premature closure can attract a penalty.

Option 2 The interest earned is subject to tax that can amount up to 30%.


Bhavna Shrivastava, 16/02/17,

Alpha feedback.


Option 3 The interest earned depends on the performance of companies.

Option 4 There are no guarantees about how much they will appreciate.

Feedback for all correct

That’s correct!In the case of fixed deposits interest earned does not depend on the performance of companies and the returns are guaranteed and defined precisely. However, premature closures can attract a penalty and interest earned is subject to tax that can be as high as 30%.

Feedback for one or more incorrect

Incorrect.In the case of fixed deposits interest earned does not depend on the performance of companies and the returns are guaranteed and defined precisely. However, premature closures can attract a penalty and interest earned is subject to tax that can be as high as 30%.

Audio Transcript

Which of the following statements do not apply to fixed deposits?Now that you know the method and facts required to handle objections, try your hand at this activity. Here, a sales representative is handling an objection related to investments in gold. You need to identify the one important fact that they left out.Select all the correct options and click or tap Submit.

Graphic Description

This is an MMCQ.

Topic 5: Summary

Screen No. 1Screen Title Key Learning PointsOn-Screen Text Here are the key learning points of this module.

Query: request for more information at any point in the sales process Objection: obstacle that can prevent closure



Objection categories o No needo No moneyo No time/hurry o No trust

Objections raised over the phone (3 Fs approach)o Feelo Felto Found

Objections raised face-to-face The( 3 As approach) o Acknowledgeo Ask o Answer

Disadvantages of stock market investments o Uncertain returnso Low returns on distress sellingo No life covero Dividend income may be taxedo Constant monitoring required

Disadvantages of gold investments o Hard to sello Making charges.o No life cover.o Large sales subject to tax.o Wear and tear from usage.

Disadvantages of FDso Penalty on premature closureso No life covero Interest is subject to taxo Interest rates reduce as duration increases

Disadvantages of Real estate investments



o Distress sales are discountedo Uncertain returnso No life covero Long term capital gains tax on saleo

Audio Transcript

Here are the key learning points of this module.

Graphic Description

Summary template

Topic 6: QuizScreen No. 1Screen Title Test YourselfOn-Screen Text You have now completed the module on Objection Handling and are ready to take the final assessment. Please note:

You must complete all questions in one session. If you exit the assessment before all questions are answered, your answers will not be saved.

You need a minimum score of 80% to pass the assessment. You can retry the assessment if you do not achieve the minimum passing score.

Good Luck!

Audio Transcript

You have now completed the module on Objection Handling and are ready to take the final assessment. Please note:

You must complete all questions in one session. If you exit the assessment before all questions are answered, your answers will not be saved.

You need a minimum score of 80% to pass the assessment. You can retry the assessment if you do not achieve the minimum passing score.

Good Luck!



Graphic Description

Generic Assessment image.

Screen No. 2Screen Title Question 1On-Screen Text Which of the following is a query?

Option 1: My family has always invested in real estate and I intend to do the same. Option 2: I don’t see how life insurance is a good investment. What is the claim settlement ratio of your company? Option 3: Mutual funds are the best. They aren’t risky and your returns are high. Option 4: I believe in gold. Nothing else has increased that much over the last 20 years.

Select the correct option and click or tap Submit.

This question maps to the LO: Recognise the difference between queries and objections.

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Screen No. 3Screen Title Question 2On-Screen Text Which of the following correctly describes the Three As method?

Option 1: Ask, Acknowledge, Answer Option 2: Acknowledge, Answer, Ask Option 3: Acknowledge, Ask, Answer Option 4: Answer, Ask, Acknowledge

Select all the correct options and click or tap Submit.



This question maps to the LO: Apply the Three As Approach to handle objections.



Screen No. 4Screen Title Question 3On-Screen Text Savita’s aunt saves through traditional instruments like FDs. When Savita calls for an appointment, she says she has no money to

invest. How should Savita handle this objection?

Option 1: By explaining the disadvantages of FDs. Option 2: By following the Three As Approach. Option 3: By discussing the advantages of Tata AIA products. Option 4: By using the Feel Felt Found technique.

Select the correct option and click or tap Submit.

This question maps to the LO: Identify how to handle typical objections.



Screen No. 5Screen Title Question 4On-Screen Text Which of the following are disadvantages of real estate investments?

Option 1: Sales attract a penalty of 1%.



Option 2: There are no guarantees on how much the prices will rise. Option 3: Distress sales can result in discounts of 15-20%. Option 4: The long term capital gains tax may be as high as 30%.





Screen No. 6Screen Title Question 5On-Screen Text Identify the correct response to an objection related to FDs.

Option 1: I understand that you like the security inherent in FDs. But do you know that the interest can draw taxes of as much as 25%?

Option 2: Life insurance is superior to FDs because they include a life cover that secures your family in case something happens to you before maturity.

Option 3: I understand that you like FDs. But really, they are not a good investment as the interest is taxable. Option 4: I understand that you prefer the security of FDs. Are all your savings in the same instrument? If you suddenly require

some money, you may have to pay a penalty for premature closure and what about the TDS



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Screen No. 8Screen Title ResultBody Text 1 <Passing Text – When score is 80% or more>

Congratulations!

You scored __%

You have completed this course successfully.

Click or tap the Certificate icon to generate the course completion certificate.

Click or tap the Exit button to close the course.Body Text 2 <Failing Text – When score is less than 80%>

Please Try Again.

You scored __%.

However, you need to score 80% or more to successfully complete this course. We recommend you commence this journey again and attempt the assessment after completing it.

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$/TATA_AIA_Continuous_L_and_D_TRMUINA250017_TFS/Project Documentation/07 Client Supplied Items/Nov28_2016 Disclaimers/disclaimers.pptx – Slide 5


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