CISR Agency Operations Questions And Answers.
Professional - answer;-an adjective used to describe appearance, attitude, or actions
Acting Ethically and Professionally - answer;-you put the needs of your clients above
your own
Ethics - answer;-a system or set of moral principles or practice
a set of rules or standards based on a set of principles or values we accept as truths
and that govern our behavior
Factors that influence ethics - answer;-Friends, Society, Media, Belief Systems,
Educational Institution, Legal Restraints, Family
Benefits of Being Ethical - answer;-1. Public Trust and Confidence Gained
2. Government regulation avoided
3. Enhanced Credibility Earned
Public Trust and Confidence Gained - answer;-it is difficult to criticize that person's
behavior or motives
Government Regulation Avoided - answer;-acting in an ethical manner avoids this
Enhanced Credibility Earned - answer;-it allows people to regard you and your business
as a reliable and trusted resource
Conducting Business in an Unethical Manner - answer;-always puts the customer
secondary
Examples of Bending the Rules in Insurance - answer;-Vehicle Usage
Protection Class
Property Values
Other Residents in the Household
Young drivers in the household
Rate Basis, Classification, or Garaging Address
Signing for an insured
Contemplating the Ethical Response - answer;-Ask questions to clear blurey lines in
situations
Six Steps to Ethical Decision Making - answer;-1. Define the Problem
2. Seek Out Resources
3. Brainstorm a List of Potential Solutions
4. Evaluate those Alternatives
5. Make Your Decision and Implement It
6. Evaluate the Decision
, CISR Agency Operations Questions And Answers.
Unethical Decision effects on the Agency's Profitability - answer;-Incorrect Rating =
Unprofitable Agency
Legal Duties are based on Three Criteria - answer;-Peer Standards
Oral and Written Agreements
Statues
Peer Standards - answer;-require a person's duties be performed in a manner similar to
others in the same position.
Not typically written, but rather associated with generally accepted practice in a specific
field
Contracts (Oral and Written Agreements) - answer;-an agreement between two or more
parties wich creates an obligation to do or to not do something
Statues - answer;-written laws open to little interpretation
Actual or Expressed Authourity - answer;-expressly given to the agency by the
insurance company. It is granted in the agency contract (agreement).
Implied Authority - answer;-describes a situation in which the authority of the agent is
not specifically expressed or communicated, but it still is consistent with the agent fully
exercising the expressed authority granted by the company
Apparent Authority - answer;-authority the agent appears to have based on
circumstances surrounding that belief. Insurance agencies can be held legally liable
under apparent authority for things that are not expressed
Estoppel - answer;-the principle which prevents a person from asserting something
contrary to what is implied by a previous action or statement of that person or by a
previous pertinent judicial determination.
The insurance company is stopped from denying the agent's authority when it has
allowed that same activity in the past without taking any corrective action
No Authority - answer;-Agency cannot generate a quote or conduct business tin that
insurance company
Care owed to their Insurance Companies - answer;-Loyalty
Good faith
Reasonable Care
Contractual Duties
, CISR Agency Operations Questions And Answers.
Loyalty - answer;-Act for the benefit of the insurance company regarding matters
associated with the agency contract
Good Faith - answer;-Being honest throughout the entire insurance transaction and
acting in the best interest of the insurance company
Reasonable Care - answer;-When one exercises care and concern for the safety of his
or herself and others regarding business conducted with the insurance company
Contractual duties - answer;-Always act within the authority granted in the company-
agency agreement. It defines duties and responsibilities of both parties as well as
authorizing certain activities
Care owed to the Customer - answer;-Adequate Coverage
Proper Coverage
Coverage placed in the best interest of the customer
Prompt communication
Coverage placed with a financially sound insurance company
Adequate Coverage - answer;-The agency helps the customer determine the
appropriate amount of insurance to meet their needs
Proper coverage - answer;-Must know the available polices, identify the best polic(ies)
for the given exposures, and stay abreast of industry developments in order to provide
pooper coverage for their customers
Coverage plans Ed in the best interests of the customer - answer;-Placing the best
coverage for the customer based on the specific needs of that customer
Prompt Communication - answer;-Notify customers regarding all aspects of their
insurance transactions with the agency including, but not limited to, changes,
exclusions, limitations, claims, cancellations, and non-renewals
Coverage placed with a Financially Sound Insurance Company - answer;-It is important
to make sure coverage is placed with an insurance company that will be able to pay
claims
Insurance License - answer;-makes you eligible to sell and discuss insurance
Continuing Education - answer;-Decided at state level, additional training required to
maintain licences
Good Ethics - answer;-=Good Business
Professional - answer;-an adjective used to describe appearance, attitude, or actions
Acting Ethically and Professionally - answer;-you put the needs of your clients above
your own
Ethics - answer;-a system or set of moral principles or practice
a set of rules or standards based on a set of principles or values we accept as truths
and that govern our behavior
Factors that influence ethics - answer;-Friends, Society, Media, Belief Systems,
Educational Institution, Legal Restraints, Family
Benefits of Being Ethical - answer;-1. Public Trust and Confidence Gained
2. Government regulation avoided
3. Enhanced Credibility Earned
Public Trust and Confidence Gained - answer;-it is difficult to criticize that person's
behavior or motives
Government Regulation Avoided - answer;-acting in an ethical manner avoids this
Enhanced Credibility Earned - answer;-it allows people to regard you and your business
as a reliable and trusted resource
Conducting Business in an Unethical Manner - answer;-always puts the customer
secondary
Examples of Bending the Rules in Insurance - answer;-Vehicle Usage
Protection Class
Property Values
Other Residents in the Household
Young drivers in the household
Rate Basis, Classification, or Garaging Address
Signing for an insured
Contemplating the Ethical Response - answer;-Ask questions to clear blurey lines in
situations
Six Steps to Ethical Decision Making - answer;-1. Define the Problem
2. Seek Out Resources
3. Brainstorm a List of Potential Solutions
4. Evaluate those Alternatives
5. Make Your Decision and Implement It
6. Evaluate the Decision
, CISR Agency Operations Questions And Answers.
Unethical Decision effects on the Agency's Profitability - answer;-Incorrect Rating =
Unprofitable Agency
Legal Duties are based on Three Criteria - answer;-Peer Standards
Oral and Written Agreements
Statues
Peer Standards - answer;-require a person's duties be performed in a manner similar to
others in the same position.
Not typically written, but rather associated with generally accepted practice in a specific
field
Contracts (Oral and Written Agreements) - answer;-an agreement between two or more
parties wich creates an obligation to do or to not do something
Statues - answer;-written laws open to little interpretation
Actual or Expressed Authourity - answer;-expressly given to the agency by the
insurance company. It is granted in the agency contract (agreement).
Implied Authority - answer;-describes a situation in which the authority of the agent is
not specifically expressed or communicated, but it still is consistent with the agent fully
exercising the expressed authority granted by the company
Apparent Authority - answer;-authority the agent appears to have based on
circumstances surrounding that belief. Insurance agencies can be held legally liable
under apparent authority for things that are not expressed
Estoppel - answer;-the principle which prevents a person from asserting something
contrary to what is implied by a previous action or statement of that person or by a
previous pertinent judicial determination.
The insurance company is stopped from denying the agent's authority when it has
allowed that same activity in the past without taking any corrective action
No Authority - answer;-Agency cannot generate a quote or conduct business tin that
insurance company
Care owed to their Insurance Companies - answer;-Loyalty
Good faith
Reasonable Care
Contractual Duties
, CISR Agency Operations Questions And Answers.
Loyalty - answer;-Act for the benefit of the insurance company regarding matters
associated with the agency contract
Good Faith - answer;-Being honest throughout the entire insurance transaction and
acting in the best interest of the insurance company
Reasonable Care - answer;-When one exercises care and concern for the safety of his
or herself and others regarding business conducted with the insurance company
Contractual duties - answer;-Always act within the authority granted in the company-
agency agreement. It defines duties and responsibilities of both parties as well as
authorizing certain activities
Care owed to the Customer - answer;-Adequate Coverage
Proper Coverage
Coverage placed in the best interest of the customer
Prompt communication
Coverage placed with a financially sound insurance company
Adequate Coverage - answer;-The agency helps the customer determine the
appropriate amount of insurance to meet their needs
Proper coverage - answer;-Must know the available polices, identify the best polic(ies)
for the given exposures, and stay abreast of industry developments in order to provide
pooper coverage for their customers
Coverage plans Ed in the best interests of the customer - answer;-Placing the best
coverage for the customer based on the specific needs of that customer
Prompt Communication - answer;-Notify customers regarding all aspects of their
insurance transactions with the agency including, but not limited to, changes,
exclusions, limitations, claims, cancellations, and non-renewals
Coverage placed with a Financially Sound Insurance Company - answer;-It is important
to make sure coverage is placed with an insurance company that will be able to pay
claims
Insurance License - answer;-makes you eligible to sell and discuss insurance
Continuing Education - answer;-Decided at state level, additional training required to
maintain licences
Good Ethics - answer;-=Good Business
