AIC 300 EXAM 2026/2027 QUESTIONS AND
CORRECT ANSWERS GRADED A+
Claims rep Miguel is conducting a settlement with a claimant. He constructs his
first offer so that the claimant will likely find it undesirable. This becomes the
basis of comparison for the second offer that he makes. Miguel understands that
people
Feel empowered when given a choice.
Joy Insurance Company is interested in using data mining to solve a problem it is
having with claims fraud in one of its product lines. The first step it should take is
To understand what it wants to achieve.
Thomas is an attorney who is defending an insurer in a litigated case. He has
located documents that show the insured was aware of the issue that cause the
injury to the claimant before the accident. Thomas is concerned that this evidence
will hurt his case. He should
Preserve the evidence as part of the record.
As a part of the first contact with an insured on a property damage claim, a claims
representative may provide a blank
Proof of loss form.
,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?
Domain knowledge.
Rodrigo manages a claims department for an insurer and uses loss ratio as a
measure of the department's performance. Rodrigo calculates loss ratio as
Losses and LAE divided by earned premium.
An insurer that finds it economically impractical to establish a claims office in a
given state is likely to use which one of the following to perform the claims
handling function?
Independent Adjusters
Tonya is a claims representative tasked with determining whether coverage applies
to a new claim. To ensure that she considers all facets of the claim, she uses the
DICE method, which stands for declarations, insuring agreement, conditions and
Exclusions.
Insurers and claim representatives must keep the promises specified in insurance
policies, as well as those created by the law. In insurance transactions, the insured
pays a premium for the insurer's promise to
,Handle claims in good faith.
Maja handled a large liability claim that settled above the policy limits. The
insured is now charging the claim was handled in bad faith. During their
investigation of the bad-faith claim, Maja and defense counsel discovered that the
claimant had received the payment from the insurer, but not the amount above the
policy limits that was to come from the insured's assets. Which one of the
following defenses would Maja's defense most likely invoke?
Insured's collusion with the claimant.
Bettina's apartment is burglarized and several items are stolen. In filing her claim,
she tells her insurer that her stolen television was both newer and larger than it
actually was. This constitutes which one of the following types of fraud?
Soft Fraud.
In liability claims, the claims rep will require an authorization from the injured
party to
Obtain medical records.
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?
$250,000
, Which one of the following is correct with respect to the elements of good-faith
claim management?
Consistent supervision, thorough training, and manageable caseloads help ensure
that claim representatives are able to handle claims in good faith.
Which one of the following elements of a policy can include coverage that is
otherwise excluded, exclude coverage that is otherwise included, or add or delete
insureds?
An endorsement.
As a claims representative, Joshua frequently requests proofs of loss and affidavits,
and conducts examinations under oath and recorded statements. Which one of
Joshua's sworn statements is administered by the insurer's attorney at the office of
the insurer, attorney, or court reporter?
Examination under oath.
The allegations contained in a summons and complaint typically serve four
purposes: To give notice, reveal facts, formulate legal causes of action and
State the damages sought.
CORRECT ANSWERS GRADED A+
Claims rep Miguel is conducting a settlement with a claimant. He constructs his
first offer so that the claimant will likely find it undesirable. This becomes the
basis of comparison for the second offer that he makes. Miguel understands that
people
Feel empowered when given a choice.
Joy Insurance Company is interested in using data mining to solve a problem it is
having with claims fraud in one of its product lines. The first step it should take is
To understand what it wants to achieve.
Thomas is an attorney who is defending an insurer in a litigated case. He has
located documents that show the insured was aware of the issue that cause the
injury to the claimant before the accident. Thomas is concerned that this evidence
will hurt his case. He should
Preserve the evidence as part of the record.
As a part of the first contact with an insured on a property damage claim, a claims
representative may provide a blank
Proof of loss form.
,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?
Domain knowledge.
Rodrigo manages a claims department for an insurer and uses loss ratio as a
measure of the department's performance. Rodrigo calculates loss ratio as
Losses and LAE divided by earned premium.
An insurer that finds it economically impractical to establish a claims office in a
given state is likely to use which one of the following to perform the claims
handling function?
Independent Adjusters
Tonya is a claims representative tasked with determining whether coverage applies
to a new claim. To ensure that she considers all facets of the claim, she uses the
DICE method, which stands for declarations, insuring agreement, conditions and
Exclusions.
Insurers and claim representatives must keep the promises specified in insurance
policies, as well as those created by the law. In insurance transactions, the insured
pays a premium for the insurer's promise to
,Handle claims in good faith.
Maja handled a large liability claim that settled above the policy limits. The
insured is now charging the claim was handled in bad faith. During their
investigation of the bad-faith claim, Maja and defense counsel discovered that the
claimant had received the payment from the insurer, but not the amount above the
policy limits that was to come from the insured's assets. Which one of the
following defenses would Maja's defense most likely invoke?
Insured's collusion with the claimant.
Bettina's apartment is burglarized and several items are stolen. In filing her claim,
she tells her insurer that her stolen television was both newer and larger than it
actually was. This constitutes which one of the following types of fraud?
Soft Fraud.
In liability claims, the claims rep will require an authorization from the injured
party to
Obtain medical records.
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?
$250,000
, Which one of the following is correct with respect to the elements of good-faith
claim management?
Consistent supervision, thorough training, and manageable caseloads help ensure
that claim representatives are able to handle claims in good faith.
Which one of the following elements of a policy can include coverage that is
otherwise excluded, exclude coverage that is otherwise included, or add or delete
insureds?
An endorsement.
As a claims representative, Joshua frequently requests proofs of loss and affidavits,
and conducts examinations under oath and recorded statements. Which one of
Joshua's sworn statements is administered by the insurer's attorney at the office of
the insurer, attorney, or court reporter?
Examination under oath.
The allegations contained in a summons and complaint typically serve four
purposes: To give notice, reveal facts, formulate legal causes of action and
State the damages sought.
