Home For AAT student members General AAT student discussion
Current updates regarding coronavirus (Covid-19) and the precautions AAT are taking will be continually updated on the below page.

Please check this link for the latest updates:
We hope you are all safe and well and if you need us we will be here. 💚


OCMC Supplementary Task (Help Required)

Stuart010Stuart010 Just JoinedRegistered Posts: 1
Hi All,

I recently sat the OCMC simulation. On the whole I thought the paper was straight forward.

I have however, been given supplementary taks to complete. Some of the questions appear to be repeats of questions in the original sim that I thought I had answered well:

Anyway, here goes:-

Give 2 factors to be considered when agreeing terms with a customer:
My answer would be: Credit limit & No. of credit days.

Give 2 sources of of internal information and 2 sources of external information for evaluating the credit status of a customer:
My answer would be: External....Trade References & Credit Search
Internal....Turnover history & Length of time to pay

What are two matters to be discussed with a customer when refusing the credit terms.
My Answer would be: Not sure on this one, would it be something as simple as stating the reason why?

Give three items of data required when setting up a new credit account:
My answer would be: 1. A signed credit agreement
2. Proof of address
3. Credit Check

Thanks for your help in advance.

Comments

  • A-VicA-Vic Expertise Guaranteed Registered Posts: 6,970
    Stuart010 wrote: »
    Hi All,


    What are two matters to be discussed with a customer when refusing the credit terms.
    My Answer would be: Not sure on this one, would it be something as simple as stating the reason why?


    Thanks for your help in advance.

    Discuss that could be re-evauated in 6 to 12 months
  • NO BUSINESS CASENO BUSINESS CASE Feels At Home Registered Posts: 85
    1/ Explain to them tactfully why they havent got the credit they wanted and as A-Vic says if appropriate say they will be re-evaluated at a later date

    2/ Let them know you would be happy to trade on a cash basis for starters so you can build a trading relationship that way
Sign In or Register to comment.