Podcast
Questions and Answers
What is Graduated Commission based on?
What is Graduated Commission based on?
- Sales agent's experience
- Total sales levels (correct)
- Fixed commission rates
- Monthly sales targets
Who receives Override Commission?
Who receives Override Commission?
- Top-performing sales agents
- Newly hired sales agents
- Sales supervisor or head of department (correct)
- Marketing team members
What is the main characteristic of Bonus Commission?
What is the main characteristic of Bonus Commission?
- It is unrelated to sales targets
- It is received by all employees
- It is paid in fixed amounts
- It is based on individual sales performance (correct)
What distinguishes Override Commission from Graduated Commission?
What distinguishes Override Commission from Graduated Commission?
When does a sales agent receive Bonus Commission?
When does a sales agent receive Bonus Commission?
What is the main characteristic of Graduated Commission?
What is the main characteristic of Graduated Commission?
When does a sales supervisor or head of department receive Override Commission?
When does a sales supervisor or head of department receive Override Commission?
What distinguishes Bonus Commission from regular commission?
What distinguishes Bonus Commission from regular commission?
What is the primary factor determining the total earning of a sales agent under Graduated Commission?
What is the primary factor determining the total earning of a sales agent under Graduated Commission?
Who receives Override Commission according to the provided information?
Who receives Override Commission according to the provided information?
Salary plus Bonus Commission is based solely on the sales agent's earnings from commission alone
Salary plus Bonus Commission is based solely on the sales agent's earnings from commission alone
Straight commission is usually 'one' percent
Straight commission is usually 'one' percent
Bonus Commission is received for exceeding a certain sales quota
Bonus Commission is received for exceeding a certain sales quota
Override Commission is received by the sales supervisor or head of department
Override Commission is received by the sales supervisor or head of department
Graduated Commission is based on a basic or fixed salary plus a commission
Graduated Commission is based on a basic or fixed salary plus a commission
Override Commission is an additional commission paid to a sales agent based on store sales or the sales of the representatives who work under the agent.
Override Commission is an additional commission paid to a sales agent based on store sales or the sales of the representatives who work under the agent.
Graduated Commission is based on commission rates for different levels of sales.
Graduated Commission is based on commission rates for different levels of sales.
Bonus Commission is a type of commission that sales agents receive in addition to their monthly salary.
Bonus Commission is a type of commission that sales agents receive in addition to their monthly salary.
The total earning of a sales agent under Graduated Commission is determined by the total store sales.
The total earning of a sales agent under Graduated Commission is determined by the total store sales.
Override Commission is paid to a sales supervisor or head of department.
Override Commission is paid to a sales supervisor or head of department.
Study Notes
Types of Commissions
- Commissions are fees charged for specific services or transactions provided to customers.
Straight Commission
- A type of commission where the agent's earnings are based on commission alone.
- Usually, the commission rate is 1%.
Salary plus Commission
- A type of commission where the agent's earnings are based on a basic or fixed salary plus a commission.
- Combines a fixed salary with a performance-based commission.
Bonus Commission
- A type of commission where the sales agent receives a monthly salary plus a commission and/or bonus.
- Bonus is awarded for exceeding a certain sales quota.
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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. Learn about straight commission, salary plus commission, salary plus bonus commission, graduated commission, and override commission.
