Podcast
Questions and Answers
What is the defining characteristic of cases categorized under Rank A?
What is the defining characteristic of cases categorized under Rank A?
- Cases worth more than $250,000 but less than $999,000.
- Cases worth less than $1,000,000.
- Cases worth at least $1,000,000. (correct)
- Cases worth exactly $1,000,000.
A case is initially assessed to be worth $600,000. Which rank does this case fall into?
A case is initially assessed to be worth $600,000. Which rank does this case fall into?
- Rank D
- Rank C
- Rank B (correct)
- Rank A
What distinguishes Rank D cases from other ranks in terms of valuation?
What distinguishes Rank D cases from other ranks in terms of valuation?
- Rank D specifically refers to cases valued at exactly $100,000. (correct)
- Rank D includes cases with a wide range of values.
- Rank D refers to cases worth less than $25,000.
- Rank D includes cases with values greater than $1 million.
Which of the following scenarios best describes when the 'Temporary Rank System' is utilized?
Which of the following scenarios best describes when the 'Temporary Rank System' is utilized?
Where are rank changes supposed to be registered?
Where are rank changes supposed to be registered?
How frequently should cases be reviewed to re-evaluate their rank?
How frequently should cases be reviewed to re-evaluate their rank?
What is the focus of Rank Y within the new case temporary rank system?
What is the focus of Rank Y within the new case temporary rank system?
In Filevine's Rank Breakdown, what should accompany the registration of rank changes?
In Filevine's Rank Breakdown, what should accompany the registration of rank changes?
How do Rank X and Rank Y differ from each other in the temporary rank system?
How do Rank X and Rank Y differ from each other in the temporary rank system?
According to the guidelines, if a case initially ranked as 'E' increases significantly in value after 75 days, what steps should be taken?
According to the guidelines, if a case initially ranked as 'E' increases significantly in value after 75 days, what steps should be taken?
Why is it important to include an analysis to estimate the current value when registering rank changes in Filevine?
Why is it important to include an analysis to estimate the current value when registering rank changes in Filevine?
A case is assessed to be Rank F upon initial evaluation. After 80 days, new evidence suggests that the case could potentially be worth $150,000. What steps should be taken regarding its rank?
A case is assessed to be Rank F upon initial evaluation. After 80 days, new evidence suggests that the case could potentially be worth $150,000. What steps should be taken regarding its rank?
What is the primary focus of rank X cases?
What is the primary focus of rank X cases?
Flashcards
Rank A Cases
Rank A Cases
Cases worth equal to or greater than $1 million.
Rank B Cases
Rank B Cases
Cases worth greater than $250,000 up to $999,000.
Rank C Cases
Rank C Cases
Cases worth greater than $100,000 up to $250,000.
Rank D Cases
Rank D Cases
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Rank E Cases
Rank E Cases
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Rank F Cases
Rank F Cases
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Rank Y Cases
Rank Y Cases
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Rank X Cases
Rank X Cases
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Rank U Cases
Rank U Cases
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90-day Limit
90-day Limit
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Filevine
Filevine
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60-90 days
60-90 days
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Study Notes
- The law firm uses a rank system to categorize cases based on their value.
Rank System Breakdown
- Rank A: Cases worth $1 million or more
- Rank B: Cases worth more than $250,000 up to $999,000
- Rank C: Cases worth more than $100,000 up to $250,000
- Rank D: Cases worth exactly $100,000
- Rank E: Cases worth more than $25,000 up to $99,000
- Rank F: Cases worth $25,000 or less
New Case Temporary Rank System
- A temporary rank system is available for new cases.
- Rank Y: Tier 1-1 Potential Commercial Policy
- Rank X: Tier 1-1 Unknown Coverage
- Rank U: Unknown value, pending PL
Important Information
- The temporary rank system is intended for use only during the first 90 days after signing up a new case.
- Rank changes, along with the analysis used to estimate current value, must be registered in Filevine under Rank Breakdown.
- Cases should be reviewed every 60-90 days to re-evaluate their rank.
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