Caib 4 exam - Study guides, Class notes & Summaries

4 Forms of operating affiliations - Answer-loosely knit, general purpose groups, clusters, common identity groups What are the considerations when evaluating 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, training, developing & rewarding, managing per...

CAIB 4 Exam Questions with Correct Answers What are the two approaches to planning? Explain each - Answer-1) Top Down Planning - Management provides the mission, strategies, and objectives for the brokerage 2) Bottom Up Planning - Management provides the mission and broad strategies. Leaves the objectives, goals and activities to business units. What are the advantages and disadvantages of top down planning? - AnswerAdvantages: Management feels in control and in charge of decision makin...

What are the two approaches to planning? Explain each - Answer-1) Top Down Planning - Management provides the mission, strategies, and objectives for the brokerage 2) Bottom Up Planning - Management provides the mission and broad strategies. Leaves the objectives, goals and activities to business units. What are the advantages and disadvantages of top down planning? - AnswerAdvantages: Management feels in control and in charge of decision making. Disadvantages: hard to get buy-in from ...

CAIB 4 PRACTICE EXAM CAIB 4 PRACTICE EXAM WITH GUARANTEED ACCURATE ANSWERS|VERIFIED What are the similarities between a strategic plan and an action plan? - Accurate AnswerThey 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? - Accurate Answerstrategic plans are for three to five years; action plans are for one ye...

CAIB 4 Exam Questions and Correct Answers 4 Forms of operating affiliations - Answer-loosely knit, general purpose groups, clusters, common identity groups What are the considerations when evaluating 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, t...

Practice Exam for CAIB 1 Latest 2023 latest update with complete solution 1. Insurers are in the business of assuming the financial risks of others which involves entering into a formal contract. A contract is enforceable at law only when all legal elements have been observed. Insurance contracts differ from other formal agreements and are subject to what three additional elements?: Insurable Interest Utmost Good Faith Indemnity 2. Explain the meaning and disadvantage of the following approac...

CAIB 2 - CHAPTER 4 miscellaneous endorsement form Exam