Brokerages - Study guides, Class notes & Summaries

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 volumnes of work 5. Lesson the likelyhood of human error Brokerage...

CAIB 4 – Marketing Questions and Answers 100% Pass Define positioning advantage Refers to how the brokerage is perceived by clients in relation to competing brokerages. "image of the brokerage" Positioning is in relation to other brokerages operating in the same environment Image is the clients perception of the brokerage Three ways a brokerage can be positioned in relation to its competition 1. Low or high priced 2. Low or high service quality 3. Faster to settle claims De...

Which of the following is NOT true about a sale and leaseback of a commercial property? (a) Seller frees up funds (b) Ownership does not actually transfer (c) Buyer can deduct depreciation from his taxes (d) Seller is able to deduct rent payments from his gross income - Ownership does not actually transfer Which is not correct about PMI? (a) To request cancellation of PMI, you must be current on your loan. (b) For "high-risk loans" lenders are required to automatically remove PMI when ...

CAIB 4, chapter 9 Exam Questions and Answers 100% Pass Define "profit maximization" - Answer- Brokerages strive to build profits, therefore the more profit the better What are leading the causes that distract from profit maximization - Answer- Brokerages are often distracted from implementing strategies to maximize profits because of the day to day practicalities of running brokerages. These are: fulfilling clients needs, info requests and insurer obligations. Explain how multiple of c...

CAIB 4 - Book Practice Questions with 100% Correct Answers What are the similarities between a strategic plan and an action plan? - Answer- 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? - Answer- strategic plans are for three to five years; action plans are for one year strategic plans apply to the brokerage as a...

Alberta Real Estate Unit 1 Quiz With Certified Solutions Which of the following represents an accountability mechanism that RECA must comply with under the Act? A) RECA must prepare for the Minister of Service Alberta an annual report for the previous year end B) RECA must prepare for the Minister of Service Alberta an annual consumer report on the investigations conducted C) RECA must prepare for the Minister of Service Alberta a market report on the industries it regulates D) R...

Search Engine Optimization (SEO) - correct answer The process of maximizing the number of visitors to a particular website by ensuring the website appears high on the list of results returned by a search engine. Fcebook Live - correct answer Video streaming through facebook. CoStar Database - correct answer Functions much like a residential MLS, connecting commercial agents with brokerages, owners, lenders, property managers, appraisers, and investors. Virtual Reality (VR) - correct answer...

CAIB 4, chapter 9 Exam Questions and Answers 100% Pass Define "profit maximization" - Answer- Brokerages strive to build profits, therefore the more profit the better What are leading the causes that distract from profit maximization - Answer- Brokerages are often distracted from implementing strategies to maximize profits because of the day to day practicalities of running brokerages. These are: fulfilling clients needs, info requests and insurer obligations. Explain how multiple of c...

What 4 things must be specified on both representation and customer service agreements? - Answer-- The effective date and expiry date of the agreement (can only be one expiry date) - The method for calculating commission or other remuneration payable to the brokerage (in the case of a seller, the amount payable) - How the commission or other remuneration will be paid - The services that the brokerage will provide under the agreement If the term of a representation or customer service agree...

Real Estate Brokerage Question and answers verified to pass Search Engine Optimization (SEO) The process of maximizing the number of visitors to a particular website by ensuring the website appears high on the list of results returned by a search engine. Facebook Live Video streaming through facebook. CoStar Database Functions much like a residential MLS, connecting commercial agents with brokerages, owners, lenders, property managers, appraisers, and investors. Virtual Realit...