Caib 4 Study guides, Class notes & Summaries

CAIB 4 Chapter 4 Questions with Verified Solutions Successful leadership results in knowledgeable, dedicated and motivated employees working effectively together to achieve the brokerage's mission, strategies, objectives and goals. Identify the six components of leading. 1. Delegating 2. Motivating 3. Communicating 4. Managing conflict 5. Managing change 6. Coaching Delegating is the art of accomplishing objectives and achieving goals through the involvement of others and by gi...

CAIB 4 - Chapter 2 Exam Questions and Answers 100% Pass Identify 3 elements to organizing effectively: - Answer- 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. - Answer- 1. Line organization 2. Functional organization 3. Line and staff organization Identify which type of brokerage is best suited for a line or...

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...

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 - Book Practice Questions & Answers

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 Define differential advantage Refers to any feature, service, or ...

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...

CAIB 4 Chapter 8 Exam Questions and Answers 100% Pass 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. - Answer- 1. Improve client service levels 2. Store information safely and convenietly 3. Reduce operating costs 4. Handle large v...

CAIB 4 Chapter 2 Exam Questions and Answers 100% Pass Organizing involves determining the way the brokerage's activities will be divided into measurable units. Identify the three elements to organizing effectively. - Answer- 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 responsibilit...

A technology plan will affect all aspects of the brokerage and its relationships with its clients, prospects and the insurance companies. Describe areas the brokerage will have to address in its technology planning process - Understanding Needs Analyze the current business situation Project the future Criteria to Evaluate Technology Reporting Capabilities Capacity Support & Training Cost Implementation Contingency Plan Maximization Coaching is a planned process that brings about la...