Cisr agency operations 2 Study guides, Class notes & Summaries

CISR - Agency Operations - Section 1 2024 Latest Update!! benefits of ethical behavior - ANSWER 1. public trust & confidence gained. 2. government regulation avoided 3. enhanced credibility 6 steps in ethical decision making - ANSWER 1. define problem 2. seek resources 3. brainstorm solutions 4. evaluate the alternatives 5. make decision 6. elvaluate decision estoppel - ANSWER prevents someone from arguing something that contradicts what was said previously examples of being unethi...

CISR Insuring Commercial Property Exam 146 Questions with Answers Select the answer that most closely describes Actual Cash Value (ACV). - CORRECT ANSWER A method of establishing the value of property wherein depreciation and obsolescence are deducted from the value of the property. Select the answer that most closely describes Functional Replacement Cost. - CORRECT ANSWER A provision which changes the policy valuation so as to provide for replacement with a different structure which per...

values statement - ANSWER defines heart of the organization, core priorities & behaviors. "what we stand for" vision statement - ANSWER specifies current and future goals of the agency mission statement - ANSWER action statement that declares what company does, how it intends to service customers and why they are unique SMART goals - ANSWER Specific, Measurable, Attainable, Relevant, Timely agency brand - ANSWER their target markets, areas of specialization, values, vision, mission

CISR Agency Operations Exam 265 Questions with Answers Professional - CORRECT ANSWER an adjective used to describe appearance, attitude, or actions Acting Ethically and Professionally - CORRECT ANSWER you put the needs of your clients above your own Ethics - CORRECT ANSWER a system or set of moral principles or practice a set of rules or standards based on a set of principles or values we accept as truths and that govern our behavior Factors that influence ethics - CORRECT ANSWER Fr...

CISR: Agency Operations Exam 100 Questions with Answers Types of Stakeholders - CORRECT ANSWER managers and employees customers insurers vendors industry associations government Transfer - CORRECT ANSWER Insurance: transfer of financial consequence to an insurance company Non Insurance: when a customer transfers financial consequences to another by contract or agreement Retention - CORRECT ANSWER Active: when a customer knows before the loss that they are responsible for all...

CISR Agency Operations Exam 82 Questions with Answers Four benefits of ethical behavior -CORRECT ANSWER a. To be recognized as knowledgeable insurance professionals within the community b. To gain public trust and confidence c. To avoid government regulation d. To enhance credibility with customers and companies Misrating & Misclassification - CORRECT ANSWER Risk misrated to write coverage - Insurer doesn't receive enough premium; Insurer not able to pay losses Common ethical iss...

values statement - ANSWER defines heart of the organization, core priorities & behaviors. "what we stand for" vision statement - ANSWER specifies current and future goals of the agency mission statement - ANSWER action statement that declares what company does, how it intends to service customers and why they are unique SMART goals - ANSWER Specific, Measurable, Attainable