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, training, developing & rewarding, managing performance the 3 steps in the selection process of new employees - Answer-recruitment, screening and interviewing, hiring 4 advantages of hiring within - Answer-cost effective, shorter vacancy, takes guesswork out of hiring, reduces turnover 5 components of screening process - Answer-application, resume, interview, testing, reference checks most critical component of the orientation process - Answer-the explanation of performance expectations 4 kinds of training programs recommended for brokerages - Answer-quality service training, sales training, product and service knowledge, leadership training 4 elements of the training program - Answer-who, what, why, how how does a career path relate to an employee's development within brokerage - Answer-it shows the employee how they may progress from one position to another and what kinds of skills and education will be required in order to progress 6 components of leadership - Answer-delegating, motivating, communication, managing conflict, managing change, coaching key factor of effective delegation - Answer-communication is the key factor of delegation 2 reasons why delegation breaks down - Answer-when the balance between responsibility and authority is not maintained and when communication between the parties is not clear non verbal communication - Answer-need to consider not only what you say but how you say it body language - Answer-others may interpret words differently if body language, gestures, mannerisms are not supporting the words active listening - Answer-ability to read between the lines, asks questions to seek clarification how managers can promote open communication - Answer-demonstrate a desire to communicate, display a tendency to take action, maintain flexibility, employ active listening skills 4 strategies a manager can use to resolve employee conflict - Answer-communication skills, mutual respect, interactive problem solving, win-win solutions 4 causes of employee resistance to change - Answer-tradition, past failures, lack of times as too many priorities, unpredictability of future why do some leaders fail to coach their employees - Answer-they don't have time, they don' know how, too many employees reporting to them, employees are not motivated to perform better 5 components of coaching process - Answer-assessing performance, setting goals, selfevaluation, rewarding, monitoring