CIC Agency Management Exam
Questions Complete Latest 2025/2026
with Correct Answers and Rationales
GRADED A+
Terms in this set (58) Original
Sales Oriented vs Service oriented
Organizational Structures
Large Agencies vs Small Agencies
Available to Insurance Agencies
Publicly Traded Vs Privately Held
Why do we have regulations?
-To make sure we keep promises
Impact of Federal & State
-Interstate Commerce
Regulations on Agencies
-Consumer Protection
-Viable Insurance Marketplace
(ESSTM)
Characteristics of the 5 stages of
1. Existence - agency struggle, must be creative to move,
Agency Growth
basic staff, owner does everything
, 2. Survival - Ongoing concern, must have direction to grow,
owner heavily involved, balance revenues & expenses.
3. Success - Profitable, can stay or grow, must be sales
oriented to grow, owner not as involved.
4. Take-Off - Expands quickly, coordination to grow,
increase staff, $=People, Delegation no longer and option
5. Maturity - Developed, tends to be large, focus on $ &
planning
Standard Markets
-Stock - Owned by Stockholders
-Mutual - Owned by policyholders
-Direct writers - exclusive
Types of Company Markets
available to agents Alternative Markets
-Excess Surplus
- MGA's
- Brokerage
- SIFs
Questions Complete Latest 2025/2026
with Correct Answers and Rationales
GRADED A+
Terms in this set (58) Original
Sales Oriented vs Service oriented
Organizational Structures
Large Agencies vs Small Agencies
Available to Insurance Agencies
Publicly Traded Vs Privately Held
Why do we have regulations?
-To make sure we keep promises
Impact of Federal & State
-Interstate Commerce
Regulations on Agencies
-Consumer Protection
-Viable Insurance Marketplace
(ESSTM)
Characteristics of the 5 stages of
1. Existence - agency struggle, must be creative to move,
Agency Growth
basic staff, owner does everything
, 2. Survival - Ongoing concern, must have direction to grow,
owner heavily involved, balance revenues & expenses.
3. Success - Profitable, can stay or grow, must be sales
oriented to grow, owner not as involved.
4. Take-Off - Expands quickly, coordination to grow,
increase staff, $=People, Delegation no longer and option
5. Maturity - Developed, tends to be large, focus on $ &
planning
Standard Markets
-Stock - Owned by Stockholders
-Mutual - Owned by policyholders
-Direct writers - exclusive
Types of Company Markets
available to agents Alternative Markets
-Excess Surplus
- MGA's
- Brokerage
- SIFs
