Caib 4 exam questions Study guides, Class notes & Summaries

CAIB 2 - Chapter 4 Exam Questions and Answers

QUESTIONS AND ANSWERS

CAIB 4 Chapter 6 Exam Questions and Answers 100% Pass Identifying the three meanings given to marketing in the insurance world. - Answer- 1. Placing of business by an insurance brokerage with various insurers. 2. Insurance companies promoting their products to brokerages 3. Insurance companies promoting their products to consumers. Marketing may be defined as a system of business activities which are designed to plan, promote, price and distribute want-satisfying products, services and id...

CAIB 4 Chapter 6 Exam Questions and Answers 100% Pass Identifying the three meanings given to marketing in the insurance world. - Answer- 1. Placing of business by an insurance brokerage with various insurers. 2. Insurance companies promoting their products to brokerages 3. Insurance companies promoting their products to consumers. Marketing may be defined as a system of business activities which are designed to plan, promote, price and distribute want-satisfying products, services and id...

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, tra...

CAIB 4 Practice Final Exam - Questions & Answers

CAIB 3 EXAM PRACTICE QUESTIONS 2024 CAIB 3 EXAM PRACTICE QUESTIONS 2024 WITH GUARANTEED ACCURATE ANSWERS|VERIFIED What is the name given to the collection of written decisions? - Accurate AnswerCase Law Explain the concept of the Rule of Precedent. - Accurate AnswerCurrent court decisions must follow those made in cases having similar circumstances, which allows the development of a logical body of general principles against which specific cases to be compared. Explain the meaning o...

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 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? - Answer- Advantages: Management feels in control and in charge of decision makin...

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...