CAIB 4 - Book Practice Questions and Answers
100% Approved
What is the reputation of those brokerages already participating in the program?
If the brokerage is seeking prestige and image from the affiliation, this can be derived only if
others participating are up to the standards described by the sponsoring organization.
When evaluating an operating affiliation why would the following be an important
consideration?
a) Exclusivity
b) Fees Fees;
A major factor in determining whether to affiliate is the cost of the affiliation and whether the
services offered are worth the price being charged.
All costs should be known in advance so that there will be no surprises once the affiliation has
been formed.
,Some brokerages effectively structure their brokerages as a functional organization. Discuss why
it is a difficult form to implement effectively Employees will find that they have more
than one boss, so that in areas of overlapping authority they may be given conflicting or
inconsistent instructions.
When a decision is required that does not firmly belong to any manager, decision-making can be
slow. Employees may be referred by one manager to another without any decision being made.
When there are too many managers giving instructions, employees are frequently distracted
from their primary roles of serving their clients.
The first activity in human resources management is planning. Discuss three areas involved
Evaluate its existing ability to generate sales and premium growth, and determine
whether the existing human resources are capable of producing the levels anticipated in the
strategic plan. If they are not, a plan must be established to obtain the necessary human
resources and to revise the organization structure to accommodate the anticipated growth.
Estimate human resource needs as early in the planning process as possible, to permit time for
a professional approach to selecting new employees and to avoid the pitfalls of a crash hiring
process. The human resource plan should include an evaluation of the skills the new employees
, need to have, the hiring timetable, and a contingency plan in the event candidates with the
required skills cannot be found in a timely manner.
Prepare a position description containing position qualifications and specifications for each
position to be filled. This will enable the brokerage to determine the kind of experience,
knowledge, attitude and behaviors which will be required of the candidates.
Allow for contingencies and be capable of mid-course correction should the reality of the
business conditions diverge from the plan.
Identify and discuss any two ongoing training programs every brokerage needs. Quality
service
Service training should concentrate on problem solving. Client service employees should view
themselves as 'problem-solvers' who are empowered to take action to generate satisfied clients.
Sales Training
Sales training should teach employees how to sell in an environment where the long-term goal
is to build client relationships. This program should emphasize; listening skills, problem solving,
consultative selling, building trust and follow-up.
100% Approved
What is the reputation of those brokerages already participating in the program?
If the brokerage is seeking prestige and image from the affiliation, this can be derived only if
others participating are up to the standards described by the sponsoring organization.
When evaluating an operating affiliation why would the following be an important
consideration?
a) Exclusivity
b) Fees Fees;
A major factor in determining whether to affiliate is the cost of the affiliation and whether the
services offered are worth the price being charged.
All costs should be known in advance so that there will be no surprises once the affiliation has
been formed.
,Some brokerages effectively structure their brokerages as a functional organization. Discuss why
it is a difficult form to implement effectively Employees will find that they have more
than one boss, so that in areas of overlapping authority they may be given conflicting or
inconsistent instructions.
When a decision is required that does not firmly belong to any manager, decision-making can be
slow. Employees may be referred by one manager to another without any decision being made.
When there are too many managers giving instructions, employees are frequently distracted
from their primary roles of serving their clients.
The first activity in human resources management is planning. Discuss three areas involved
Evaluate its existing ability to generate sales and premium growth, and determine
whether the existing human resources are capable of producing the levels anticipated in the
strategic plan. If they are not, a plan must be established to obtain the necessary human
resources and to revise the organization structure to accommodate the anticipated growth.
Estimate human resource needs as early in the planning process as possible, to permit time for
a professional approach to selecting new employees and to avoid the pitfalls of a crash hiring
process. The human resource plan should include an evaluation of the skills the new employees
, need to have, the hiring timetable, and a contingency plan in the event candidates with the
required skills cannot be found in a timely manner.
Prepare a position description containing position qualifications and specifications for each
position to be filled. This will enable the brokerage to determine the kind of experience,
knowledge, attitude and behaviors which will be required of the candidates.
Allow for contingencies and be capable of mid-course correction should the reality of the
business conditions diverge from the plan.
Identify and discuss any two ongoing training programs every brokerage needs. Quality
service
Service training should concentrate on problem solving. Client service employees should view
themselves as 'problem-solvers' who are empowered to take action to generate satisfied clients.
Sales Training
Sales training should teach employees how to sell in an environment where the long-term goal
is to build client relationships. This program should emphasize; listening skills, problem solving,
consultative selling, building trust and follow-up.
