Why Is Writing a Prospecting Letter More Challenging Than a Solicited

question 69

Multiple Choice

Why is writing a prospecting letter more challenging than a solicited letter when sending a résumé?

• A)You have less research on the company
• B)You don't know what skills the company is most interested in
• C)You don't have a clear target as you have with a solicited letter
• D)It is hard to find the name of a person to send the letter to
• E)You have no common ground with the reader

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Definitions:

Deposit Expansion Multiplier

The ratio that measures the potential increase in total deposits in the banking system generated from an increase in primary deposits.

Excess Reserves

Funds that banks hold over and above the required reserve ratio set by a central banking authority, often for safety or emergency purposes.

Reserve Requirements

The minimum amount of reserves that a bank must hold as mandated by a central bank, affecting the bank's ability to lend.

Glass-Steagall Act

A 1933 law creating a regulatory firewall between commercial and investment banking sectors to prevent financial crises.