CAIB 4 EXAM NEWEST ACTUAL
EXAM COMPLETE 100 QUESTIONS
AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS)
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QUESTION 1: What are the two approaches to planning?
Explain each 1) Top Down Planning - Management provides the mission, strategies, and objectives for the brokerage 2) Bottom Up Planning - Management provides the mission and broad strategies. Leaves the objectives, goals and activities to business units.
CORRECT ANSWER : The two approaches to planning are: 1) Top Down Planning - Management provides the mission, strategies, and objectives for the brokerage.2) Bottom Up Planning - Management provides the mission and broad strategies, leaving the objectives, goals, and activities to business units.
QUESTION 2: What are the advantages and disadvantages of
top down planning?
Advantages: Management feels in control and in charge of
decision making.
Disadvantages: hard to get buy-in from employees
CORRECT ANSWER : Advantages: Management feels in control and in charge of decision making.
Disadvantages: Hard to get buy-in from employees.
QUESTION 3: What are the advantages and disadvantages of
bottom up planning?
Advantages: business units have ownership and buy in.
Disadvantages: Management feels less in control, there may
be resistance to changes made to the plan by management.
CORRECT ANSWER : Advantages: Business units have ownership and buy-in.
Disadvantages: Management feels less in control, and there
may be resistance to changes made to the plan by management.
QUESTION 4: Why is Top Down planning not suitable for a
small organization.Stifles innovation, slows decisions, managers need to know too much,
CORRECT ANSWER : Top Down planning is not suitable
for a small organization because it stifles innovation, slows decisions, and managers need to know too much.
QUESTION 5: What are the four characteristics of a plan?
1) Simplicity 2) Practicability 3) Severability 4) Flexibility
CORRECT ANSWER : The four characteristics of a plan
are:
1) Simplicity 2) Practicability 3) Severability 4) Flexibility
QUESTION 6: Explain Simplicity (2 points)
The plan should be explainable in simple terms.The plan should be implemented without extensive training while employees continue their day to day operations.
CORRECT ANSWER : Simplicity means:
- The plan should be explainable in simple terms.
- The plan should be implemented without extensive training
while employees continue their day-to-day operations.
QUESTION 7: Explain Practicability
The plan must be realistic