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Questions and Answers
What is the definition of Graduated Commission?
What is the definition of Graduated Commission?
- A type of commission based on commission rates for different levels of sales (correct)
- An additional commission paid to a sales supervisor based on store sales
- A monthly bonus in addition to a certain commission
- An extra commission for exceeding sales targets
What is the definition of Override Commission?
What is the definition of Override Commission?
- An additional commission paid to a sales supervisor based on store sales or the sales of the representatives working under the supervisor (correct)
- A monthly bonus in addition to a certain commission
- An extra commission for exceeding sales targets
- A type of commission based on commission rates for different levels of sales
What characterizes Commission Bonus?
What characterizes Commission Bonus?
- An additional commission paid to a sales supervisor based on store sales or the sales of the representatives working under the supervisor
- A type of commission based on commission rates for different levels of sales
- An extra commission for exceeding sales targets
- A monthly bonus in addition to a certain commission (correct)
What distinguishes Graduated Commission from Override Commission?
What distinguishes Graduated Commission from Override Commission?
How does Override Commission differ from Commission Bonus?
How does Override Commission differ from Commission Bonus?
Study Notes
Types of Commissions
- Commissions are fees charged for specific services or transactions provided to customers.
- There are several types of commissions, including:
Straight Commission
- A type of commission in which the agent or salesman's earnings are based on commission alone.
- Typically, the earning rate is around 1% of the transaction value.
Salary plus Commission
- A type of commission in which the agent's earnings are based on a basic or fixed salary plus a commission.
- The agent receives a steady income (salary) and additional earnings based on performance (commission).
Bonus Commission
- A type of commission in which the sales agent receives a monthly stipend plus a commission and/or bonus for exceeding a certain sales quota.
- The bonus is tied to meeting or exceeding specific sales targets.
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Description
Test your knowledge of different types of commissions, which are fees charged for specific services or transactions provided to customers. This quiz covers straight commission, salary plus commission, salary plus bonus commission, graduated commission, and override commission.