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MQI > Statement > Flashcards

Statement Flashcards

1
Q

What is DW rev?

A

Revenue generated from damage waiver up-sales

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2
Q

What is subro bad debt?

A

Money owed on a rental contract on ROI or COI for over 90 days

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3
Q

What are reserves?

A

12 month average of total PD losses. Damage on DW as a 12 month average

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4
Q

What are other losses?

A

Cost of repairs over the excess

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5
Q

What are total PD losses?

A

Subro bad debt + Other losses

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6
Q

What is employee loss physical damage?

A

Damage done to our own vehicle by an employee

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7
Q

What is employee loss liability?

A

Damage done to somebody else’s car as a result of an incident caused by our employee

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8
Q

What is conversion & other?

A

Loss of control of a rental contract (Stolen vehicles and loss of contact)

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9
Q

What is undoc damage?

A

Damage which has been missed by an employee and so it cannot be assigned to a particular rental contract

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10
Q

What are total uninsured losses?

A

Employee loss physical damage + employee loss liability + Cov & other + undoc damage

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11
Q

How would you improve days earned %?

A

Giving up cars to other branches
Regular callbacks
Renting the same units as much as possible
Building relationships with local BS and DS to get them hiring
Building local business relationships

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12
Q

How to increase C&I rev?

A

Paid upgrades and adjusters
Counter flips
Opening new local accounts (Local accounts typically have higher rates than national accounts)

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13
Q

How would you increase net other?

A 
Sell as much as possible
Sales competitions 
Tracking sales on GVD
Extra training
Buddy systems
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14
Q

How would you reduce hours?

A

Ensuring lunch breaks are held
Minimise overtime and if someone works OT, balance it out by giving them time off on another day
Time sheets should be up to date and correct

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15
Q

What are branch overheads ?

A

Cost of running the branch

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16
Q

What are group overheads?

A

Cost of running U299

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17
Q

How would you improve ESQI?

A 
Right car right deal
Respect customers
Make sure staff are trained 
Car clean and ready on time
SFL sheets
Make sure customer says they are comp sat at the end of the rental
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18
Q

How do you reduce bad debt?

A

Keep in regular contact with our accounts
Try to recover the debt before it goes bad (90 days)
Try to get them to pay as soon as the rental is finished

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19
Q

How to reduce DR liability?

A

Correct FNOL procedure when opening rental contract
Right car right deal
Trust your gut, don’t rent if you have a bad feeling about the customer
Go through controls/offer a test drive

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20
Q

What are miscellaneous expenses?

A

Costs of running CV and PG

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21
Q

What is fuel coll?

A

Fuel costs collected from our customers at the end of a rental contract

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22
Q

What is fuel cost?

A

Money spent on filling up fuel on our cars

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23
Q

What is net fuel?

A

Fuel coll - fuel cost

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24
Q

What are gross costs?

A

A total of all costs

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25
Q

How to reduce employee loss physical damage?

A

Do not use your phone whilst driving
Set up the car before you set off (radio and gps etc)
if picking up a customer, don’t rush, give them a larger time slot so you don’t rush or if you’re already late, call them and let them know
Do spot checks on cars my trainees have checked in
Use assured drivers where possible
Train employees in safe driving

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26
Q

How to reduce conversion and other?

A

Regular callbacks with customer before or during hire

Don’t rent if you don’t trust the customer

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27
Q

What is the ‘other’ in conversion and other?

A

Lot damage

28
Q

How to reduce undoc damage?

A

Extra training

Proper boot to boot training

Write up SEL’s when damage is missed regularly to try and reduce mistakes

Check cars even if they are parked awkwardly

Make employees confident in approaching customers with problems/damage

29
Q

What is % days earned?

A

Percentage of cars in the fleet that are on rent.

30
Q

What is days earned growth?

A

Increase of no of cars on rent compared to last year

31
Q

What is GRV?

A

Guaranteed replacement vehicle

32
Q

What is C&I rev?

A

Also known as income per car, this is the base revenue made before sales. (Average daily rate x days earned x number of days in the month)

33
Q

What is net other?

A

Sales such as DW, EP and RAP

34
Q

What is total revenue?

A

total income per car, C&i REV + NET OTHER

35
Q

What are gross costs?

A

Costs of running the fleet

36
Q

What is operating profit?

A

Total revenue - breakeven = operating profit

37
Q

What is breakeven?

A

A summation of costs (Gross costs + personal expenses + operating expenses + group overheads + branch overheads + corp overheads)

38
Q

What is net profit

A

Operating profit + vehicle adjustment

39
Q

What is vehicle adjustment?

A

Also known as FLIP. This is the difference in our depreciation of the vehicle by 1.7% and the final resale value of the vehicle.

40
Q

C&I rev calculation?

A

Rate x occupancy x days in the month

41
Q

Operating profit Goal?

A

60 goal

100 BHAG

42
Q

De% goal?

A

92%

43
Q

DE growth goal?

A

15%

BHAG 25%

44
Q

What are Uninsured losses?

A

Claims not on a rental contract

45
Q

Goal for personal expenses?

A

120

46
Q

Income to loss ratio?

A

3%?

47
Q

Goal for C&I rev?

A

900

48
Q

Goal for net other?

A

75

49
Q

Goal for tot rev?

A

975

50
Q

Cust sat goal?

A

3

51
Q

Gdpr breach?

A

4% of our global revenue

52
Q

Uninsured loss goal?

A

£4.75

53
Q

Employee loss physical damage and liability goal?

A

£1.25

54
Q

Undoc damage goal?

A

£3

55
Q

Conv and other goal?

A

50p

56
Q

Bad debt goal?

A

£2

57
Q

I conversion goal?

A

85%

58
Q

What’s days earned?

A

Occupancy

59
Q

What is days earned growth?

A

No of units increase from this point last year

60
Q

C&I rev?

A

Daily rate / given rate

61
Q

Net other?

A

Sales / driven rate

62
Q

Total income per car? Also known as Total revenue

A

C&I+Net other

63
Q

What are Reserves?

A

12 month rolling average of total PD losses

64
Q

What are other losses?

A

DW damage cost minus the excess deducted

65
Q

What are total PD losses?

A

subro bad debt + other losses

MQI (7 decks)

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