Agency Management Exam Review

Certified Insurance Counselors (CIC) Agency Management Exam Review (Latest Update 2025 / 2026) Questions and Verified Answers | 100% Correct | Grade A

Question:

what is a standard

Answer:

-is a stated, acceptable level of performance in every area of an agency's operations.-Performance builds an agency's brand.

Question:

what is a procedure

Answer:

-defines the things an agency must do or accomplish to achieve a standard -identifies who is responsible, what needs to be done , and when it should be completed

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Question:

What is a workflow

Answer:

-describes the specific keystrokes and steps employees need to perform to complete a procedure

Question:

Benefits of implementing standards, procedures, and workflows together

Answer:

P- provides a benchmark to measure compliance, productivity, and effectiveness

O- optimize time use

P- Promotes consistency (reduces mistakes and E&Os)

P- Provides a data set used to help an agency plan, market, grow, and make better decisions

I- Identifies the needs for change, training, or opportunities

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Question:

Describe an Operational Assessment and how it pertains to standards, procedures, and workflows

Answer:

Can be used to ensure agency operations and S,P,W are effective. Helps...

• support its core value and mission • ensure consistency and adherence to agency standards, procedures, and workflows • identify "glitches," or problems that need correction • identify opportunities to enhance the use of existing systems or to expand functionalities • compare agency productivity levels to peer agency groups • indicate whether an agency maintains a competitive edge among peer groups • support the services an agency provides to its customers • provide justification for adding functions, increasing capacity, identifying when to move to the next level, or when to replace/update current hardware/software • identify training needs, redundant procedures, and opportunities to reduce key strokes by setting defaults in systems • measure employee and technology productivity

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Question:

Information Management

Answer:

= (Complete Database) + (Document Management) -complete database means searchable data. Document management refers to handling documents produced or saved online in electronic formats

Question:

Examples of Electronic Documents

Answer:

-emails -carrier generated documents, policies, and endorsements, forms -electronic and paper fazes -regular paper mail that is scanned -photos -VMs, texts, instant messaging, -Formal reports

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