I've had my fair share of phone interviews, but I recently received the following info from a headhunter prior to a call he had set up for me. I was impressed by the quality and wished that I'd had something like this back when I first started looking for jobs.
I figure there'd be a few folks out there who would appreciate it, too.

Note: It's written for a contract-to-hire position, so some items wouldn't apply for a folks applying directly for a position.
Enjoy!
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Phone Screen Preparation
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For managers, the goal of the phone interview is not to decide whether or not to hire a candidate, but rather to decide whether the candidate has the essential capabilities for the job to justify an in-person meeting.
For candidates, the goal of a phone screen is to move to an in-person interview.
If you create the proper first impression on the telephone, your chances of being invited for an in-person interview are greatly enhanced.
Here is what you need to do:
1. Preparation
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First, you can prepare for a phone screen. Get in a good spot physically – you have to be able to talk freely and there can’t be too much noise in the background.
Spend time reviewing the job description and company web-site, and really think about what the company wants, and how your experience and technical skills can help the company.
Be prepared to answer the following questions:
Why are you leaving your present position? (Have a positive reason for this move)
What are your strong/weak points?
What were your biggest accomplishments in your last position?
What specific projects have you worked on?
What contributions can you make to our company?
You can prepare a few questions, but do not ask questions that appear to be selfishly motivated. Ask questions that relate to the job, and will make the interviewer want to have a more in-depth discussion with you.
2. Attitude
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This is so important, especially for a phone interview!
Be assertive and enthusiastic -- you don’t have the benefit of expression and eye contact, so try to smile when you talk and relay an image of confidence.
Some people suggest that your voice sounds stronger if you speak while standing up, but if this feels uncomfortable to you, by all means sit down. The most important thing here is to be relaxed and comfortable.
Avoid speaking too fast, chewing gum or smoking, and speaking too close to the receiver.
3. Money
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Do not discuss your contractor pay rate with the hiring manager.
Any questions regarding your pay rate can be directed to your recruiter.
BUT be prepared to discuss conversion salary (direct hire salary) expectations if this comes up… What you’re looking for and why… and what you’ve made in the past.
4. The Close
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Here are two great questions to ask at the close:
"Now that you’ve had a chance to hear more about my background, do you have any concerns about my ability to do this job?”
This allows you to address concerns right now, or know what they are for the next step
"Thank you for your time – I am very interested in the position (for the following reasons). I look forward to meeting you in person. Can I provide you with additional information?”
5. The Thank You Note
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A quick e-mail thank you note, sent through your recruiter, is a nice touch
This will lay the groundwork for the next steps.