AIC 300 - Claims in an Evolving World Verified Exam Questions and
Answers Latest update 2026/2027
Question:
As methods of communication evolve, it's important for claims professionals to remember that any
written claims communication may be
a. Replaced with verbal communication
b. Misinterpreted
c. Edited later
d. Subpoenaed
Answer:
d. Subpoenaed
Soft fraud occurs when a claim is exaggerated and is also referred to as
a. Opportunity fraud
b. Financial fraud
c. Reimbursement fraud
Question:
d. Victimless fraud
Answer:
a. Opportunity fraud
Question:
In which one of the following scenarios is the right of subrogation most likely to be employed by the
insurer?
a. An insured files a homeowners claim for stolen jewelry. An investigation reveals that the
jewelry is still in the insured's possession.
b. A claims rep discovers that their insured's car accident was caused by a road contractor who
left equipment lying in the travel lanes of a highway.
c. An investigation reveals that an insured set her own business on fire.
d. An insured files a claim for collision damage from a hit and run accident, when in fact he
backed into a utility pole.
Answer:
b. A claims rep discovers that their
insured's car accident was caused by a road contractor who left equipment lying in the travel lanes of a
highway.
Question:
In which one of the following scenarios is a public adjuster most likely to become involved?
a. A catastrophic disaster strikes, involving damage to many properties.
b. An insurer finds it financially unfeasible to hire its own claims staff in a given state.
, c. An insured is unable to afford legal representation to contest a claim.
d. An insured's negotiations with the insurer on a complex claim are not going well.
Answer:
d. An insured's negotiations with the insurer on a complex claim are not going
well. Carla is investigating a claim for a stolen car. The insured provided a copy of the police report,
but she notices that the account in the police report differs from the insured's version of events. At this
point, Carla should
a. Refer the case to the SIU.
b. Deny the claim.
c. Contact the police.
Question:
d. Continue with her investigation.
Answer:
d. Continue with her
investigation
Question:
Which one of the following methods of establishing case reserves is used most often when there are
small variations in loss size for a particular type of claim?
a. Individual case method.
b. Formula method.
c. Average value method.
d. Roundtable method.
Answer:
c. Average value method
Chloe is an insurer defense attorney who is preparing a trial strategy. She has researched a court
decision that was made in a similar case and is basing the defense on that precedent. Chloe is relying
on the principle of stare decisis, which is that
a. Lower courts must follow precedents set by any other courts.
b. Lower courts must follow precedents set by higher courts.
c. Higher courts must follow precedents set by lower courts.
Question:
d. Higher courts must follow precedents set by any other counts.
Answer:
b. Lower courts must follow precedents set by higher courts
Question:
Which one of the following statements regarding state versions of the NAIC model act is correct?
a. Only insureds may bring lawsuits against insurers.
Answers Latest update 2026/2027
Question:
As methods of communication evolve, it's important for claims professionals to remember that any
written claims communication may be
a. Replaced with verbal communication
b. Misinterpreted
c. Edited later
d. Subpoenaed
Answer:
d. Subpoenaed
Soft fraud occurs when a claim is exaggerated and is also referred to as
a. Opportunity fraud
b. Financial fraud
c. Reimbursement fraud
Question:
d. Victimless fraud
Answer:
a. Opportunity fraud
Question:
In which one of the following scenarios is the right of subrogation most likely to be employed by the
insurer?
a. An insured files a homeowners claim for stolen jewelry. An investigation reveals that the
jewelry is still in the insured's possession.
b. A claims rep discovers that their insured's car accident was caused by a road contractor who
left equipment lying in the travel lanes of a highway.
c. An investigation reveals that an insured set her own business on fire.
d. An insured files a claim for collision damage from a hit and run accident, when in fact he
backed into a utility pole.
Answer:
b. A claims rep discovers that their
insured's car accident was caused by a road contractor who left equipment lying in the travel lanes of a
highway.
Question:
In which one of the following scenarios is a public adjuster most likely to become involved?
a. A catastrophic disaster strikes, involving damage to many properties.
b. An insurer finds it financially unfeasible to hire its own claims staff in a given state.
, c. An insured is unable to afford legal representation to contest a claim.
d. An insured's negotiations with the insurer on a complex claim are not going well.
Answer:
d. An insured's negotiations with the insurer on a complex claim are not going
well. Carla is investigating a claim for a stolen car. The insured provided a copy of the police report,
but she notices that the account in the police report differs from the insured's version of events. At this
point, Carla should
a. Refer the case to the SIU.
b. Deny the claim.
c. Contact the police.
Question:
d. Continue with her investigation.
Answer:
d. Continue with her
investigation
Question:
Which one of the following methods of establishing case reserves is used most often when there are
small variations in loss size for a particular type of claim?
a. Individual case method.
b. Formula method.
c. Average value method.
d. Roundtable method.
Answer:
c. Average value method
Chloe is an insurer defense attorney who is preparing a trial strategy. She has researched a court
decision that was made in a similar case and is basing the defense on that precedent. Chloe is relying
on the principle of stare decisis, which is that
a. Lower courts must follow precedents set by any other courts.
b. Lower courts must follow precedents set by higher courts.
c. Higher courts must follow precedents set by lower courts.
Question:
d. Higher courts must follow precedents set by any other counts.
Answer:
b. Lower courts must follow precedents set by higher courts
Question:
Which one of the following statements regarding state versions of the NAIC model act is correct?
a. Only insureds may bring lawsuits against insurers.
