Ida was named in a bad-faith lawsuit as the claims representative who handled the
file. The court dismissed the suit, however, because the statute of limitations had
expired. This means that
Select one:
A. Too much time had expired after the claim concluded.
B. The limits of the policy had been exceeded.
C. There was no basis to pierce the corporate veil.
D. She was immune to prosecution as an employee.
Give this one a try later!
A. Too much time had expired after the claim concluded.
Too much time had expired after the claim concluded. A statute of
limitations is a law that stipulates the length of time after an event during
which legal proceedings may be initiated.
,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
Give this one a try later!
C. Domain knowledge
Domain knowledge is the understanding of the discipline, profession, or
activity to which the data is being applied.
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
Select one:
A. Refer the case to the SIU.
B. Continue with her investigation.
C. Deny the claim.
D. Contact the police.
Give this one a try later!
B. Continue with her investigation.
Continue with her investigation. Indicators of fraud are not proof of fraud.
,Through data mining, Goshen Mutual discovers that customers who insure two or
more vehicles on a personal auto policy are very likely to buy a personal umbrella
policy. Algorithms are then used to identify potential customers who might be
interested in purchasing both personal auto and umbrella policies. Which one of the
following data mining techniques did Goshen Mutual use?
Select one:
A. Classification
B. Association rule learning
C. Regression analysis
D. Cluster analysis
Give this one a try later!
B. Association rule learning
Which one of the following terms encompasses types of fraud including false claims
and intentional losses?
Select one:
A. Willful fraud
B. Staged fraud
C. Soft fraud
D. Hard fraud
Give this one a try later!
D. Hard fraud
Martin is in SIU and helps his employer, a multi-line insurer, to detect fraudulent
claims. He is using a technology that enables insurers to share fraud-related
information. This distributed digital ledger that facilitates secure transactions without
using a third party is known as
, Select one:
A. Blockchain.
B. A predictive model.
C. The Internet of Things.
D. Telematics.
Give this one a try later!
A. Blockchain.
By having a transparent ledger associated with a car, for example, insurers
can detect fraud that would be difficult to detect otherwise.
The first key to communicating empathetically as a claims professional is
Select one:
A. A comprehensive understanding of relevant insurance policies.
B. Speaking calmly and clearly.
C. Being prepared with all documentation relating to the claim.
D. Listening.
Give this one a try later!
D. Listening.
Claims professionals should first listen carefully to understand what the
claimant is saying.
James works for a multi-line insurer. He is responsible for investigating claims that raise
suspicion of fraud. James is in the
Select one:
A. Legal department.
B. Special Investigation Unit.
file. The court dismissed the suit, however, because the statute of limitations had
expired. This means that
Select one:
A. Too much time had expired after the claim concluded.
B. The limits of the policy had been exceeded.
C. There was no basis to pierce the corporate veil.
D. She was immune to prosecution as an employee.
Give this one a try later!
A. Too much time had expired after the claim concluded.
Too much time had expired after the claim concluded. A statute of
limitations is a law that stipulates the length of time after an event during
which legal proceedings may be initiated.
,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
Give this one a try later!
C. Domain knowledge
Domain knowledge is the understanding of the discipline, profession, or
activity to which the data is being applied.
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
Select one:
A. Refer the case to the SIU.
B. Continue with her investigation.
C. Deny the claim.
D. Contact the police.
Give this one a try later!
B. Continue with her investigation.
Continue with her investigation. Indicators of fraud are not proof of fraud.
,Through data mining, Goshen Mutual discovers that customers who insure two or
more vehicles on a personal auto policy are very likely to buy a personal umbrella
policy. Algorithms are then used to identify potential customers who might be
interested in purchasing both personal auto and umbrella policies. Which one of the
following data mining techniques did Goshen Mutual use?
Select one:
A. Classification
B. Association rule learning
C. Regression analysis
D. Cluster analysis
Give this one a try later!
B. Association rule learning
Which one of the following terms encompasses types of fraud including false claims
and intentional losses?
Select one:
A. Willful fraud
B. Staged fraud
C. Soft fraud
D. Hard fraud
Give this one a try later!
D. Hard fraud
Martin is in SIU and helps his employer, a multi-line insurer, to detect fraudulent
claims. He is using a technology that enables insurers to share fraud-related
information. This distributed digital ledger that facilitates secure transactions without
using a third party is known as
, Select one:
A. Blockchain.
B. A predictive model.
C. The Internet of Things.
D. Telematics.
Give this one a try later!
A. Blockchain.
By having a transparent ledger associated with a car, for example, insurers
can detect fraud that would be difficult to detect otherwise.
The first key to communicating empathetically as a claims professional is
Select one:
A. A comprehensive understanding of relevant insurance policies.
B. Speaking calmly and clearly.
C. Being prepared with all documentation relating to the claim.
D. Listening.
Give this one a try later!
D. Listening.
Claims professionals should first listen carefully to understand what the
claimant is saying.
James works for a multi-line insurer. He is responsible for investigating claims that raise
suspicion of fraud. James is in the
Select one:
A. Legal department.
B. Special Investigation Unit.
