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CIC AGENCY MANAGEMENT 2024 LATEST UPDATE COMPLETE QUESTIONS ANDVERIFIED CORRECT ANSWERS EXAM PRACTICES CERTIFIED STUDY GUIDE GRADE A+ GET IT RIGHT R300,22
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COMPLETE QUESTIONS ANDVERIFIED
CORRECT ANSWERS EXAM PRACTICES
CERTIFIED STUDY GUIDE GRADE A+ GET IT
RIGHT
An agency uses its value statement to accomplish several
goals - (correct answer)
1. Communicate the agency's core principles to shape its
direction and organizational goals
2. Focus on aspirations and behavioral issues that matter
most to the agency's leadership
3. Define the standards of conduct and expectations for
all agency members
,4. Communicate these statements orally, written, and
electronic form
Value statement answers the questions - (correct
answer) Who we are?
What we are?
How we do it?
An example of a value statement - (correct answer)
The smith Agency values helping local businesses
succeed
An agency's vision statement should - (correct answer)
1. Communicate a clear picture of what an agency is
trying to achieve
2. Identifies characteristics that:
-reflect the long-range goals of the agency's
policyholders
-project the view of what the agency aspires to be
,-guide the agency's strategic development
Budget Considerations for growing an agency and doing a
needs assessment - (correct answer) -the specific
talents and skills employees require
-an awareness of gaps, deficiencies, and surpluses within
and across departments
-a determination of how many employees the agency can
afford to hire
-the best time for employees to join the agency
An agency's vision statement answers - (correct
answer) Where do we want to go?
An example of a vision statement - (correct answer)
The vision of the Smith Agency is to be a fully employee-
owned agency that is recognized as the premier
commercial lines agency in the region
, An agency's mission statement should - (correct
answer) -provide a clear statement of an agency's
purpose and focus
-Identify characteristics that are broadly stated in terms
of service, income, and profit
-establish clear growth goals serving its key stakeholders,
clients, and employees
An example of a mission statement - (correct answer)
ABC Agency will provide quality personal and commercial
insurance products to the clients located within our trade
area to help them achieve their financial security goals
Several considerations that contribute to establishing an
agency's goals - (correct answer) -Target market
niches
-Agency personnel and productivity
-Market territory
-Multiple locations
-Marketing and Sales
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