AIC 300 EXAM 2026 LATEST UPDATE
QUESTIONS AND CORRECT VERIFIED
ANSWERS ALREADY GRADED A+
After the SIR limit had been reached, the insurer was obligated to pay up
to the occurrence limit. - ans-Antonia has a general liability policy with a
self-insured retention of $50,000. The policy has an occurrence limit of
$250,000 and an aggregate limit of $500,000. She had submitted one
prior claim this policy term for which $100,000 was paid by the insurer.
How much will Antonia's insurer pay on a subsequent claim under the
same policy period that is valued at $400,000?
Select one:
A. $200,000
B. $250,000
C. $400,000
D. $500,000
A. Explain the rationale behind the decision to the claimant.
If the decision on a claim settlement is negative, good-faith claims
handling requires the claims rep to explain the rationale behind the
decision. - ans-If the decision on a claim settlement is negative, as in a
denial, good-faith claims handling requires the claims rep to
Select one:
A. Explain the rationale behind the decision to the claimant.
B. Deliver the decision to the claimant in writing.
C. Deliver a hard copy of the decision to the claimant by mail.
D. Have a supervisor sign off on the communication to the claimant.
C. Being an employee of the insurer.
, The role of staff claims representative is defined by being an employee of
the insurer and having a primary focus on handling claims. - ans-While
staff claims representatives may have a variety of titles, the role is
typically defined by two things: having a primary focus on claims and
Select one:
A. A focus on inside claims.
B. Being an outsourced contractor of the insurer.
C. Being an employee of the insurer.
D. Having at least five years of claims experience.
C. Domain knowledge
Domain knowledge is the understanding of the discipline, profession, or
activity to which the data is being applied. - ans-Ciara is going to college
with the goal of working as a data scientist for an insurer. She will need a
strong foundation in mathematics and statistics, computer programming,
domain knowledge, and data science. Which one of Ciara's skills will
require her to understand the insurance profession to which the data is
being applied?
Select one:
A. Mathematics and statistics
B. Data science.
C. Domain knowledge
D. Computer programming
C. Roundtable method
With the roundtable method, a consensus reserve figure may be reached
following evaluation and discussion among claims reps. - ans-Which one of
the following methods of establishing case reserves involves a consensus
among multiple claims reps?
Select one:
A. Expert system method
QUESTIONS AND CORRECT VERIFIED
ANSWERS ALREADY GRADED A+
After the SIR limit had been reached, the insurer was obligated to pay up
to the occurrence limit. - ans-Antonia has a general liability policy with a
self-insured retention of $50,000. The policy has an occurrence limit of
$250,000 and an aggregate limit of $500,000. She had submitted one
prior claim this policy term for which $100,000 was paid by the insurer.
How much will Antonia's insurer pay on a subsequent claim under the
same policy period that is valued at $400,000?
Select one:
A. $200,000
B. $250,000
C. $400,000
D. $500,000
A. Explain the rationale behind the decision to the claimant.
If the decision on a claim settlement is negative, good-faith claims
handling requires the claims rep to explain the rationale behind the
decision. - ans-If the decision on a claim settlement is negative, as in a
denial, good-faith claims handling requires the claims rep to
Select one:
A. Explain the rationale behind the decision to the claimant.
B. Deliver the decision to the claimant in writing.
C. Deliver a hard copy of the decision to the claimant by mail.
D. Have a supervisor sign off on the communication to the claimant.
C. Being an employee of the insurer.
, The role of staff claims representative is defined by being an employee of
the insurer and having a primary focus on handling claims. - ans-While
staff claims representatives may have a variety of titles, the role is
typically defined by two things: having a primary focus on claims and
Select one:
A. A focus on inside claims.
B. Being an outsourced contractor of the insurer.
C. Being an employee of the insurer.
D. Having at least five years of claims experience.
C. Domain knowledge
Domain knowledge is the understanding of the discipline, profession, or
activity to which the data is being applied. - ans-Ciara is going to college
with the goal of working as a data scientist for an insurer. She will need a
strong foundation in mathematics and statistics, computer programming,
domain knowledge, and data science. Which one of Ciara's skills will
require her to understand the insurance profession to which the data is
being applied?
Select one:
A. Mathematics and statistics
B. Data science.
C. Domain knowledge
D. Computer programming
C. Roundtable method
With the roundtable method, a consensus reserve figure may be reached
following evaluation and discussion among claims reps. - ans-Which one of
the following methods of establishing case reserves involves a consensus
among multiple claims reps?
Select one:
A. Expert system method
