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CSM Exam 2024 Questions with Correct Answers
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Exam of 8 pages for the course Certified Scrum Master at Certified Scrum Master (CSM Exam 2024)
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CSM Exam 2024Explain the key drivers creating the need for customer success - answer1. CS fills
organization gaps between sales and customer support
2. CSMs provide value to customers, individual customer stakeholders, and solution
providers
3. CSMs focus on the relationship between solution capabilities and customer business
outcomes
4. CSMs enable customer solution competence and self sufficiency
Define customer success (expected & unexpected value) - answer The purpose of
customer success management is to maximize the value gained for both the customer
and solution provider. The focus is to enable customer's business outcomes through the
utilization of the CSM's company's products and services.
Explain the customer lifecycle journey - answer Experience > Renewal > Loyalty >
Expand
Awareness > Consideration > Evaluation > Purchase
(start over)
Compare customer success, customer support, and sales - answer Customer success:
Assists on account-based issues and helps customers learn to succeed and thrive and
tend toward self sufficiency
Customer support: Answer small, simple questions
Sales: Responsible for all selling functions; concerned about money, not necessarily
customer success
Explain the value proposition for customer success (vendor) - answer1. Increased
renewal rate
2. Incremental renewals
3. New sales (cross sells/expansion)
4. Advocacy (referrals, case studies, testimonials)
5. Product improvement (better understanding of customer needs)
Explain the value proposition for customer success (customer) - answer1. Reduced time
to value
2. Increased ROI
3. Tangible impact to business outcomes
4. Supports project success - shared accountability
5. Support of business vision
, Explain different IT purchasing and consumption models: Software licensing -
answerSoftware licenses typically provide end users with the right to one or more
copies of the software without violating copyrights.
Sum: Buying the software outright, no subscription
Explain different IT purchasing and consumption models: Service subscriptions(IaaS,
PaaS, Saas) - answerIaaS: cloud-based services, pay-as-you-go for services such as
storage, networking, and virtualization. PaaS: hardware and software tools available
over the internet. SaaS: software that's available via a third-party over the internet.
Sum: Subscriptions to store, software, and other tools via the internet
Explain different IT purchasing and consumption models: Enterprise agreements -
answerEnterprise management systems are large-scale software packages that track
and control the complex operations of a business. They are used as a central command
center, automating the organization and making it convenient to prepare reports and
make decisions.
Sum: Blends licensing and subscriptions
Explain different IT purchasing and consumption models: CapEx vs OpEx -
answerCapital expenditures are menjor investments in goods that show up on the
balance sheet and are depreciated over the life of the asset, typically 3-5 years
(hardware/software purchases using cash expensed at point in time)
Operating expenditures show up on the profit and loss account and relate to expenses
incurred on an ongoing basis (hardware/software purchases that are expensed over
time)
Identify the key metrics for customer success: Leading indicators - answerActivity
oriented, indivative of future outcomes, and answers the question: "Are you likely to
achieve your goal? (e.g. Number of customer logins this past month [usage])
Identify the key metrics for customer success: Lagging indicators - answerOutput
oriented and answers the question: "Have you achieved the goal?" (e.g. Number of
renewals [revenue])
Explain the financial implication of: Churn - answer% of customers who do not renew
OR % of revenue that is not renewed
May include offering a discount o keep business, providing a lower service level, or a
reduction in subscription
Explain the financial implication of: Expand - answerCustomer contract grows in scope
due to new features, additional products/license count, services
Explain the financial implication of: Renewal (MRR, ATR, LTV, ACV) - answerCustomer
purchases another subscription from vendor
MRR: Monthly Recurring Revenue
ATR: Available to Renew
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