Insurance Broker Assessment Test
Insurance brokers act as intermediaries between clients, who can be either individuals or commercial businesses and organizations, and insurance companies. Typical employers of insurance brokers include large and small brokerages, financial advice companies, Insurance or reinsurance companies and Insurance risk management departments.
They use their in-depth knowledge of risks and the insurance market to find and arrange suitable insurance policies and arrange cover. They act in the interest of their clients and offer products from more than one insurer to ensure that their clients get the best deal.
Their major tasks include:
Building and maintaining business relationships with clients.
Discussing and assessing clients' current and future insurance needs.
Researching insurance policies and products.
Negotiating policy terms and costs with insurance providers.
Arranging insurance cover for clients with the insurance provider.
Collecting insurance premiums.
Preparing reports for insurance underwriters.
Advising clients on making claims on their policies.
Renewing or amending existing policies for clients.
KEY SKILLS REQUIRED:
CONFIDENT NEGOTIATION SKILLS - Logical Reasoning
DECISION MAKING - Logical Reasoning
ANALYTICAL SKILLS - Abstract Reasoning and Quantitative Aptitude
ACCURACY AND ATTENTION TO DETAIL
RESEARCH AND STUDY - Verbal Reasoning
VERBAL AND WRITTEN COMMUNICATION SKILLS - Verbal Ability
Verbal ability is essential because grammar and vocabulary is a prerequisite for good spoken and written English.
Reading comprehension indicates an ability to comprehend and reason with the concepts on a written page.
Quantitative ability will indicate analytical thinking and problem-solving ability.
Logical Reasoning is assessed through
• Cause /Effect and
• Statement/Fact questions
These questions will indicate the quality of deductive reasoning and inductive reasoning which contribute to Critical thinking ability.
Abstract reasoning will indicate the ability to think clearly, identify logical patterns, learn new skills and solve complex problems. It is an indicator of fluid intelligence and shows an ability to strategize.
Test Details: 46 Questions 60 minutes
Verbal Ability - 08 Questions 08 minutes
Verbal Reasoning - 10 Questions 14 minutes
Quantitative Aptitude - 10 Questions 10 minutes
Logical Reasoning - 10 Questions 14 minutes
Abstract Reasoning - 10 Questions 13 minutes