WorksheetsGAP Basics
Total questions: 35
Worksheet time: 18mins
Which document is used to determine the vehicle’s Actual Cash Value?
Settlement Evaluation
Police Report
Breakdown Evaluation
Settlement Breakdown
Which document must contain a narrative of the facts regarding the loss?
Dr. Seuss' latest book
Police Blog
Driver's exchange form
Police Report
What document is often mistaken for the Loan Contract?
GAP Contract
Buyers Order
Loan Application
MSRP
Which Document is a history of all transactions occurring on the loan through the date of loss?
History Chanel
Loan Contract
Payment History
GAP Contract
When do we require a MSRP?
Used vehicle purchase
New vehicle purchase
Leased vehicle
Never
If there is insurance involved, how many days does a Contract Holder have to submit at least 1 required document?
90 days from date of loss
210 days from date of loss
90 days from date of settlement
210 days from date of loss
A cause of loss letter must contain which of the following...
Complete details of the loss
No police report was filed
No police report on file
What is a cause of loss letter?
The insurance company settlement evaluation is used to determine what?
The cause of loss
The amount of the settlement check
The Actual Cash Value of the vehicle as of the date of loss
The options on the vehicle as of date of purchase
What number on the Settlement Breakdown must be equal to the same number on the Settlement Evaluation
The Actual Cash Value (ACV)
The overall settlement
The number of pages
The options on the vehicle
What is the purpose of the settlement Breakdown?
To get the party started
To determine the value of the vehicle
To determine the Actual Cash Value of the vehicle
To determine the amount of the settlement check
If a customer has not made their 1st car payment, what document can be submitted in the place of a Payment History?
A copy of the pay stub
Loan Funding Letter
Note from the their doctor
A copy of their Loan Contract
What items must be present for a payment history to be considered acceptable?
Beginning balance
Ending balance
Amount of Payment
Settlement check
If you see proof of the Insurance Company Settlement Check on the Payment history, is a separate copy of the settlement check required?
yes
no
In CMS, what function key do you use to reach the contract screen?
F7
F3
F10
F9
In CMS, what key would you use to correct a note entry?
Insert
F10
Home
Ctrl + Del
In CMS, what key would you use to search for a contract?
F3
F9
F10
F5
In CMS, what key do you use to both exit and save your work?
F3
F4
F12
F10
When entering notes in a file, what does the last "W" stand for?
Who you talked to
What was discussed in the conversation
What actions need to be done to complete the claim
What's for dinner tonight?
When initiating a claim in the Portal, who are you
Other
Dealer
Customer
That Dude
When initiating a claim in the Portal, are you required to enter the year/make/model of a vehicle?
yes
no
After you have initiated the claim in the Portal, what should your next actions be?
Thank the customer and disconnect the call
Input notes in KTA
Nothing
Wait for the next call
What is a Statement of use?
A statement that details the facts of the loss
A statement that details what the vehicle is being used for
A statement that list all payments made towards the loan
A statement that list all options on the vehicle
The GAP contract does not assist with the following
Missed payments
Late payments
Deferred payments
The balance owed at the time of loss
The Amortized balance is...
The balance that's listed on the payment history
The balance the customer owes after the GAP benefit is paid
The balance the loan should have been had all payments been made according to the terms and conditions of the contract
The balance owed at the beginning of the loan
A Negative GAP (NoBen) is the same as a denial?
True
False
Who is the COO of Safe-Gauard
Jarret Letto
Jason Eversole
Robin Marshall Coley
Jardon Bouska
An example of an extented warranty contract is
GAP
Tire & Wheel
Vehicle Service Contract (VSC)
Paintless Dent Repair
What system does your supervisor use to determine if you were on time and ready for work?
ADP
Finesse
Cisco IP Communicator
KTA
What does GAP stand for?
Guaranteed Asset Program
Guaranteed Asset Protection
Guaranteed Automotive Plan
Guaranteed Auxiliary Protection
How many digits do you need to search for VIN in CMS
5
7
9
10
When Searching for a contract by name, how should it be entered in CMS?
First-Last
Last-First
Last,First
Last First
What is the maximum amount the contract with cover of the Contract Holder's deductible?
$250
$2500
$1000
$500
If a customer finances a vehicle for more than 150% of the value of the vehicle as of the date of purchase, the loan is considered an
Oversell
Overboard
Overloan
Over/under
If the police report narrative states the customer was DUI, but the customer was not charged/cited with the DUI, the contract will not assist with the claim.
True
False
If there is insurance involved, how many days does the Contract Holder have to submit all required documents?
90 days from date of loss
90 days from date of settlement
210 days from date of loss
210 days from date of settlement
