Caib 4 - Study guides, Class notes & Summaries

Organizing involves determining the way the brokerage's activities will be divided into measurable units. Identify the three elements to organizing effectively. 1. Creating an Organizational Structure 2. Defining Employee Relationships 3. Establishing Position Descriptions The organizational structure is the skeleton upon which the brokerage grows and interacts. The structure also defines who has authority and responsibility for activities. Identify three basic forms of organizational st...

CAIB 4 - Book Practice Questions With Complete Solutions.

CAIB 4 Exam Questions and Answers 100% Pass 4 Forms of operating affiliations - Answer- loosely knit, general purpose groups, clusters, common identity groups What are the considerations when evalutating operating affiliations - Answer- services and support, exclusivity, fees, contractual agreement, financial strength What is the law of agency - Answer- when one entity acts on behalf of another 6 activities with human resources management function - Answer- planning, selecting, orienting,...

CAIB 4 Chapter 6 Exam Questions and Answers 100% Pass Identifying the three meanings given to marketing in the insurance world. - Answer- 1. Placing of business by an insurance brokerage with various insurers. 2. Insurance companies promoting their products to brokerages 3. Insurance companies promoting their products to consumers. Marketing may be defined as a system of business activities which are designed to plan, promote, price and distribute want-satisfying products, services and id...

Identify 3 elements to organizing effectively: 1. Creating an organizational structure. 2. Defining employee relationships. 3. Establishing position descriptions. Identify 3 basic forms of organizational structure based on the way authority and responsibility is delegated. 1. Line organization 2. Functional organization 3. Line and staff organization Identify which type of brokerage is best suited for a line organization and briefly explain why this is so. Smaller brokerages in which sen...

CAIB 4 Chapter 6 Exam Questions and Answers 100% Pass Identifying the three meanings given to marketing in the insurance world. - Answer- 1. Placing of business by an insurance brokerage with various insurers. 2. Insurance companies promoting their products to brokerages 3. Insurance companies promoting their products to consumers. Marketing may be defined as a system of business activities which are designed to plan, promote, price and distribute want-satisfying products, services and id...

CAIB 4 Exam Questions and Answers 100% Pass 4 Forms of operating affiliations - Answer- loosely knit, general purpose groups, clusters, common identity groups What are the considerations when evalutating operating affiliations - Answer- services and support, exclusivity, fees, contractual agreement, financial strength What is the law of agency - Answer- when one entity acts on behalf of another 6 activities with human resources management function - Answer- planning, selecting, orienting,...

CAIB 4 Chapter 8 Latest Version with Complete Solutions Technology development has had a major impact on the insurance industry. It has completely transformed the way information is recorded and transmitted between the parties involved in insurance transactions. Identify five functions that the effective utilization of technology will allow brokers to realize. 1. Improve client service levels 2. Store information safely and convenietly 3. Reduce operating costs 4. Handle large volu...

What are the similarities between a strategic plan and an action plan? They are both critical steps in the success of a brokerage They both flow from the mission statement They both use the same process (top down/bottom up) What are the differences between a strategic plan and an action plan? strategic plans are for three to five years; action plans are for one year strategic plans apply to the brokerage as a whole; action plans apply to a particular business unit action plans are much m...