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C16 - Business Of Insurance - Chapter 2 Exam With 100% Correct Answers
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C16 - Business Of Insurance - Chapter 2 Exam With 100% Correct Answers
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C16 - Business Of Insurance - Chapter 2Exam With 100% Correct Answers
Whatiisitheiroleiofiinsurance?i-iCorrectiAnswer--
iToiprovideipeaceiofimind
-iToiofferifinancialisecurity
-iToiencourageilossipreventioni
Insuranceibringsifocusitoitheiroleiofiriskimanagement.
Whatifactorsiaffectitheiselectioniofianiorganizationistructure?i-
iCorrectiAnswer-Thereiareitwoiorganizationistructureitypes:
-iPyramidiStructure
-iFlatiStructure
Selectioniofianiorganizationistructureidependion:
-iHowipoweri&icontroliareidistributed
-iHowiwellisystemsiareiintegratedibetweenidepartments
-iHowicommunicationiworks
-iHowiwelliservicesiareicoordinated
-iTheisizeiofitheicompany
,CompareiandiContrasti:iPyramidiStructureivs.iFlatiStructurei-
iCorrectiAnswer-
AiPyramidiStructureioffersiopportunitiesiforipromotion,ibutitheidrawba
ckiisitheiprocessitoigainiapprovalifromihierarchalilevelsiisiveryitime-
consumingi;iThisiisibecauseiofitheitop-downinatureiofitheistructure.
AiFlatiStructureionitheiotherihandihasilittleiopportunityiforipromotion,ib
utiinicontrastitoiPyramidiStructureihasiaiteamitoimakeiapprovalsiandide
cisionsi;iThisiisibecauseithereiisinoineeditoiescalateirequestsiupiaichainivs
.iaiteamimakingiaidecision.
Whatiareitheikeyiareasiwithinianiorganizationalistructure?i-
iCorrectiAnswer--iHumaniResources
-iInformationiTechnology
-iAdministration
-iMarketing
-iFinancei&iAccounting
3iUniqueiAreasiwithiniInsuranceiCompaniesi:
-iActuarial
-iUnderwriting
-iClaims
DescribeitheiresponsibilitiesiofiHumaniResources?i-iCorrectiAnswer-
Hiringinewistaffiwithiappropriateiskillisets
, -iAdvertisingipositions
-iWorkingiwithirecruitmentifirms
-iShort-Listingicandidates
AssistingiManagementi
-iPerformanceireviewsiwithitheimanager
-iDesigningitraining,ieducation,iandidevelopmentiprogramsi
EmployeeiServices
-iKeepingirecords
-iDesigningiemployeeibenefitsiprograms
Financialiupkeep
-iOverseeingipayroll
-
iAdministeringicompanyipensioniplani&icomplianceiwithigovernmentip
ensionilawsi&iguidelines
MonitoringiRegulationsi&imanagingiPoliciesi&iGuidelines
-iHumansirightsilawsiareifollowed
-iDevelopingi&iSurveyingieachidepartmentiisibeingiruniproperly
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