CIC AGENCY MANAGEMENT EXAM 2024/2025 ACTUAL COMPLETE
300 REAL EXAM QUESTIONS WITH CORRECT DETAILED
ANSWERS ( VERIFIED ANSWERS)/ALREADY GRADED A+
An income statement shows - ANSWER -an agency's revenues
and expenses over a period of time and can
depict activity over a
month, quarter, or year
Performance Evaluation has 4 elements - ANSWER -1.
Agree upon performance standards
2. Measure performance
throughout the year
3. Evaluate
Performance
4. Communicate evaluation results along
with next year's standards
Performance Evaluation forms have common components -
ANSWER -1. clearly communicated performance standards or
behaviors
2. clearly described performance achievements accomplished
during the review period
3. employees special strengths and accomplishments
4. opportunities for further employee development and training
,5. employee's comments in response to the evaluation
Tips to approaching formal evaluations - ANSWER -1. Know the
results you want
2. Be sure the employee is full informed and knows what to expect
3. Focus on facts
4. Maintain privacy
5. Decide what additional training the employee needs
Management driven reasons for separation include -
ANSWER -1. unmet performance expectations
2. dishonesty
and fraud
3. elimination of
the position
Employee driven reasons for separation include - ANSWER -1.
Personal or behavioral problems
2. Resignation
3. Retirement
4. Broken promises by management
5. A feeling that there is nothing left to learn or gain
The agency should document what in the case of
separation? - ANSWER -1. reasons for separation
,2. what the agency
did to prevent it
3. whether disciplinary measures
followed agency policy
4. progressive
disciplinary measures
taken
5. ensure the agency fully investigated
the employees complaint
In cases of involuntary termination: - ANSWER -1.
Review the situation with owners/HR
2. Documentation clearly outlines
unacceptable performance or conduct
3. Write a separation letter stating
specific reasons for separation
4. Have a
separation
meeting
5. Make the meeting to the
point. Not a discussion
Unethical behaviors in the workplace can have numerous
consequences including: - ANSWER -1. Loss of
reputation and image among clients,
insurance companies, and the state
, 2. Exposure to legal action from clients,
insurance companies, and the state
3. Damage to an agency's business, resulting in
profit loss and depreciated values
Factors that contribute to the identifdication and establishment of
ethical responsibilities in the workplace: - ANSWER -1. peer
standards
2. reliable research
3. expert testimonies
4. oral and written agreements
5. case laws
Contributing factors to Errors and Omissions claims include: -
ANSWER -1. the ready availability of legal services
2. changing
legal standards
3. impact of
public media
4. increased specialization of
services and markets
5. growing complexity and
diversity in policies and forms
Agents are expected to by law: - ANSWER -1. notify the client of
policy expiration when the agent receives the
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