CAIB 4 Exam Questions & Answers | 100%
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Terms in this set (24)
Briefly explain the 4 characteristics Simplicity - The plan should be easy to
of a plan. understand and explain.
Practicality - The plan should be realistic and
achievable.
Severability - All parts of the plan should be able
to be executed even if 1 part falls through.
Flexibility - The plan should allow for
modification so mid-term changes can be made.
Briefly explain what the external The external environment is made up of the
environment is. brokerage's distant and near environments. An
external environmental scan should identify
threats and opportunities that are outside the
brokerage. The distant environment cannot be
controlled, but the near environment can be
influenced by the brokerage.
, Identify and explain the 5 Specific - Clearly state what is to be
characteristics of goals. accomplished.
Measurable - Capable of being measured to
determine if it was achieved or not.
Action-oriented - Provides a clear expectation of
what to do.
Realistic - Must be something that is achievable.
Timely - Must have a completion date or
timeframe.
If you're given a goal that doesn't fit this criteria,
it's going to be difficult to achieve.
What are the differences between Line organization - Best suited for a smaller
the 3 organizational structures? business. It provides simplicity and a clear
(Give an advantage and delegation of authority, but power is
disadvantage for each.) concentrated at the top and line managers must
be fully knowledgeable in a wide range of areas
in order to make decisions.
Functional organization - Decisions are made by
a management specialist who can provide
employees with expert advice, but having too
many managers giving instructions and not
making decisions can be distracting and slow
down workflow.
Line and Staff - Areas of authority are clearly
defined with better communication on all levels,
but there is a cost associated with providing staff
advice not directly related to producing revenue.
Verified solutions |Questions with Correct
Answers 2026 latest update!!
Save
Terms in this set (24)
Briefly explain the 4 characteristics Simplicity - The plan should be easy to
of a plan. understand and explain.
Practicality - The plan should be realistic and
achievable.
Severability - All parts of the plan should be able
to be executed even if 1 part falls through.
Flexibility - The plan should allow for
modification so mid-term changes can be made.
Briefly explain what the external The external environment is made up of the
environment is. brokerage's distant and near environments. An
external environmental scan should identify
threats and opportunities that are outside the
brokerage. The distant environment cannot be
controlled, but the near environment can be
influenced by the brokerage.
, Identify and explain the 5 Specific - Clearly state what is to be
characteristics of goals. accomplished.
Measurable - Capable of being measured to
determine if it was achieved or not.
Action-oriented - Provides a clear expectation of
what to do.
Realistic - Must be something that is achievable.
Timely - Must have a completion date or
timeframe.
If you're given a goal that doesn't fit this criteria,
it's going to be difficult to achieve.
What are the differences between Line organization - Best suited for a smaller
the 3 organizational structures? business. It provides simplicity and a clear
(Give an advantage and delegation of authority, but power is
disadvantage for each.) concentrated at the top and line managers must
be fully knowledgeable in a wide range of areas
in order to make decisions.
Functional organization - Decisions are made by
a management specialist who can provide
employees with expert advice, but having too
many managers giving instructions and not
making decisions can be distracting and slow
down workflow.
Line and Staff - Areas of authority are clearly
defined with better communication on all levels,
but there is a cost associated with providing staff
advice not directly related to producing revenue.
