Bill And Collect Article Quiz

Reviewed by Editorial Team
The ProProfs editorial team is comprised of experienced subject matter experts. They've collectively created over 10,000 quizzes and lessons, serving over 100 million users. Our team includes in-house content moderators and subject matter experts, as well as a global network of rigorously trained contributors. All adhere to our comprehensive editorial guidelines, ensuring the delivery of high-quality content.
Learn about Our Editorial Process
| By Mvarner
M
Mvarner
Community Contributor
Quizzes Created: 1 | Total Attempts: 73
| Attempts: 73
SettingsSettings
Please wait...
  • 1/9 Questions

    Which of the following is NOT a feature of electronic convergent billing?

    • Rent, utilities, etc., included on one bill
    • Bills emailed to residents
    • Direct links to online payment services
    • All of the above are features of electronic convergent billing.
Please wait...
About This Quiz


This quiz is to test how well you know your bill and collect. You may consult the recent article "The Death Utility Bill and Collect" as you take it. Good luck!

Bill And Collect Article Quiz - Quiz

Quiz Preview

  • 2. 

    Approximately how many U.S. apartment residents are billed for utilities in addition to rent?

    • 1 million

    • 5 million

    • 10 million

    • 20 million

    • 50 million

    Correct Answer
    A. 5 million
    Explanation
    Approximately 5 million U.S. apartment residents are billed for utilities in addition to rent. This suggests that a significant number of apartment residents have to pay for utilities separately from their rent. This could be due to various reasons such as the apartment complex not including utilities in the rent or the residents having individual meters for their utilities. Regardless of the reason, this statistic highlights the financial burden that many apartment residents face in addition to their monthly rent payments.

    Rate this question:

  • 3. 

    Who of the following is the owner of Holly Station, a Tristar property, and is quoted in the article?

    • Virginia Love

    • Peter Voelkel

    • Dave Staal

    • Doug Hastings

    Correct Answer
    A. Peter Voelkel
    Explanation
    Peter Voelkel is the owner of Holly Station, a Tristar property, and is quoted in the article.

    Rate this question:

  • 4. 

    When utility bill and collect services were first introduced, which of the following was a benefit of them?

    • Increase in property income

    • Being able to collect bills faster

    • Decrease in the amount of delinquent payments

    • Decrease in the workload for property staff

    Correct Answer
    A. Decrease in the workload for property staff
    Explanation
    The benefit of utility bill and collect services is that they decrease the workload for property staff. This means that property staff members do not have to spend as much time and effort on collecting and managing utility bills, allowing them to focus on other important tasks. This can lead to increased efficiency and productivity in property management.

    Rate this question:

  • 5. 

    Convergent billing now represents about _________ resident utility and rent bills per month.

    • 25,000 to 100,000

    • 500,000 to 1 million

    • 1.5 to 2 million

    • 10 to 25 million

    Correct Answer
    A. 1.5 to 2 million
    Explanation
    Convergent billing now represents about 1.5 to 2 million resident utility and rent bills per month. This means that a significant number of residents are using convergent billing services to pay their utility and rent bills. The range of 1.5 to 2 million suggests that the service is being widely adopted and is gaining popularity among residents.

    Rate this question:

  • 6. 

    Which of the following would NOT be included on a convergent bill?

    • Garbage fees

    • Pet fees

    • Utilities

    • Rent

    • All of the above might be included on a convergent bill.

    Correct Answer
    A. All of the above might be included on a convergent bill.
    Explanation
    A convergent bill is a single bill that combines multiple expenses into one payment. It typically includes various charges such as utilities, rent, and additional fees like garbage fees and pet fees. Therefore, all of the options listed in the question might be included on a convergent bill.

    Rate this question:

  • 7. 

    According to Dave Staal’s estimates, by how much could electronic convergent billing increase utility collections?

    • 10 to 20 percent

    • 20 to 30 percent

    • 30 to 40 percent

    • 40 to 50 percent

    Correct Answer
    A. 20 to 30 percent
    Explanation
    Dave Staal estimates that electronic convergent billing could increase utility collections by 20 to 30 percent. This suggests that implementing electronic convergent billing methods can lead to a significant improvement in the efficiency and effectiveness of utility collections. By utilizing electronic billing systems, utilities can streamline the collection process, reduce errors, and enhance customer convenience, ultimately resulting in higher collection rates.

    Rate this question:

  • 8. 

    Which of the following is NOT a benefit of electronic convergent billing?

    • Accelerated collections

    • Decreased vacant costs

    • Less required working capital

    • Reduced administrative workload

    • Improved transparency

    • Increased resident satisfaction

    Correct Answer
    A. Decreased vacant costs
    Explanation
    Electronic convergent billing does not directly impact vacant costs. Electronic convergent billing refers to a system that consolidates and streamlines billing processes, allowing for faster and more efficient collections, reducing the required working capital, reducing administrative workload, improving transparency, and increasing resident satisfaction. However, it does not directly address or impact the costs associated with vacant units.

    Rate this question:

  • 9. 

    Which of the following is NOT a reason why the practice of utility bill and collect persists?

    • It’s the lowest priced option.

    • It operates “out of sight, out of mind.”

    • Cryptic, complex vendor remittance statements

    • It’s accepted as a necessary evil.

    Correct Answer
    A. It’s the lowest priced option.
    Explanation
    The practice of utility bill and collect persists not because it is the lowest priced option, but because it operates "out of sight, out of mind," has cryptic and complex vendor remittance statements, and is accepted as a necessary evil.

    Rate this question:

Quiz Review Timeline (Updated): Jun 26, 2023 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Jun 26, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jun 26, 2012
    Quiz Created by
    Mvarner
Back to Top Back to top
Advertisement
×

Wait!
Here's an interesting quiz for you.

We have other quizzes matching your interest.