Caib 4 Practise Final Exam Questions with
Correct Answers
6 ) You want to attract new Insurers to contract with your brokerage. What could your brokerage
do to prepare? Salient Points:
- Premises.
- Financial information.
- Type and mix of business.
- Other insurers represented.
- Loss experience.
- Human Resources.
- Business Plan.
- E & O Claims Record.
7 ) You have been asked by your Sales Manager to segment your client base using
demographics. In what ways would this assist your marketing efforts. Salient Points:
- Age.
- Gender.
, - Life Style.
- Education.
- Occupation.
- Ethnic Background.
8 ) The owner of your brokerage has asked for your written opinion regarding the number of
insurers to represent. Salient Points:
- Too many Inefficient.
- Too few is dangerous.
Advantage to having correct amount:
- Proper Premium volume to withstand catastrophic losses.
- Profit sharing potential.
- Strong relations with insurer.
9 ) The owner of your brokerage heard of something called a strategic plan on TV last night. She
wants you to explain this to her in a written report. Salient Points:
- Scanning the external environment.
_ Analyzing the internal environment and assessing Current position.
Correct Answers
6 ) You want to attract new Insurers to contract with your brokerage. What could your brokerage
do to prepare? Salient Points:
- Premises.
- Financial information.
- Type and mix of business.
- Other insurers represented.
- Loss experience.
- Human Resources.
- Business Plan.
- E & O Claims Record.
7 ) You have been asked by your Sales Manager to segment your client base using
demographics. In what ways would this assist your marketing efforts. Salient Points:
- Age.
- Gender.
, - Life Style.
- Education.
- Occupation.
- Ethnic Background.
8 ) The owner of your brokerage has asked for your written opinion regarding the number of
insurers to represent. Salient Points:
- Too many Inefficient.
- Too few is dangerous.
Advantage to having correct amount:
- Proper Premium volume to withstand catastrophic losses.
- Profit sharing potential.
- Strong relations with insurer.
9 ) The owner of your brokerage heard of something called a strategic plan on TV last night. She
wants you to explain this to her in a written report. Salient Points:
- Scanning the external environment.
_ Analyzing the internal environment and assessing Current position.
