AIDA FINAL EXAM QUESTIONS AND
ANSWERS
Which one of the following statements is true regarding scatterplots? - Correct Answers
-They are effective in identifying potential correlation between two variables.
As a data analyst for an insurer, Luis helps to enhance his employer's data-driven
decision making. His analyses provide many benefits to the company, improving
resource allocation, organizing large volumes of data, expanding analysis of data
sources, and improving loss prediction and prevention. Which one of these benefits is
apparent when Luis improved the system's ability to predict and identify suspicious
claim activity and allowed the special investigation unit to target fraud? - Correct
Answers -Improving resource allocation
Insurance data analyst Mitsuki works with quantitative, qualitative, structured, and
unstructured data. She is developing a model to analyze claims notes to identify fraud
potential. Mitsuki is using which one of the following types of data? - Correct Answers -
Unstructured, qualitative
Larissa is a data analyst and is identifying internal strengths and weaknesses from her
company internal operational data, metadata, snapshot data, and transactional data.
She needs to analyze information about business rules and data processing to improve
the efficiency of report queries and data management. Larissa is analyzing - Correct
Answers -Metadata
Benjamin is conducting an exploratory visualization of a large dataset. He has several
available formats to display his results, including scatterplots, bar plots, pivot tables, and
histograms. Because he needs to synthesize large amounts of data into manageable
columns and rows and to be able to study it from various perspectives, Benjamin
creates a - Correct Answers -Pivot table.
Katarina is a data analyst for an insurer. She is responsible for data engineering, data
mining, data manipulation, and data modeling. Which one of Katarina's responsibilities
involves analyzing large amounts of data to find new relationships and patterns that will
assist in data-driven decision making? - Correct Answers -Data mining
Match the data examples with their data type. All options must be correct for credit. -
Correct Answers -Structured:
Financial/Sensor/Medicall Prognoses
Unstructured:
Recordings/Notes/Images
, Internet websites are often created using which one of the following? - Correct Answers
-Hypertext Markup Language
As a marketer for an insurer, Jobim knows that customer acquisition costs are high.
Jobim is aware that one reason for the high costs is that - Correct Answers -The larger
companies spend a lot of money on marketing.
Data that is not organized into predetermined formats, such as databases, and often
consists of text, images, or other nontraditional media, is called data. - Correct Answers
-Unstructured
A terminal node of a classification tree that is used to classify an instance based on its
attributes is called a node. - Correct Answers -Leaf
Chloe is the personal auto claim supervisor for Parker Insurance. She notices an
increase in bodily injury claims in one of her territories, and suspects that some of the
claims may be fraudulent. Parker's internal fraud detection system identifies a number
of claimants who were all being treated by the same medical group. Chloe suspects that
a fraud ring may be involved. Which one of the following methods should Chloe use to
help her identify the fraud ring? - Correct Answers -Network analysis
Which one of the following words would most likely be included in the list of stopwords
identified by a data scientist analyzing unstructured text data for an insurance
company? - Correct Answers -There
An insured pays $1,000 in premiums every 3 months. It is expected to remain an
insured for the next 10 years. What is its customer lifetime value? - Correct Answers -
40000
An insurer wants to determine the complexity of a claim at the time of first report. Which
one of the following is an important step after identifying the attributes of complex
claims? - Correct Answers -Ranking the attributes according to their relative information
gain
Jack is a commercial property underwriter. Which one of the following types of
technological data could help him evaluate property exposure by monitoring
temperature, moisture, smoke, and other environmental factors? - Correct Answers -
Sensor data
Which one of the following statements is correct regarding how advanced technology
has changed insurers' use of historical loss data in the commercial insurance
application process? - Correct Answers -Insurers now have the ability to gather,
process, and analyze massive volumes of loss data at unprecedented speeds.
ANSWERS
Which one of the following statements is true regarding scatterplots? - Correct Answers
-They are effective in identifying potential correlation between two variables.
As a data analyst for an insurer, Luis helps to enhance his employer's data-driven
decision making. His analyses provide many benefits to the company, improving
resource allocation, organizing large volumes of data, expanding analysis of data
sources, and improving loss prediction and prevention. Which one of these benefits is
apparent when Luis improved the system's ability to predict and identify suspicious
claim activity and allowed the special investigation unit to target fraud? - Correct
Answers -Improving resource allocation
Insurance data analyst Mitsuki works with quantitative, qualitative, structured, and
unstructured data. She is developing a model to analyze claims notes to identify fraud
potential. Mitsuki is using which one of the following types of data? - Correct Answers -
Unstructured, qualitative
Larissa is a data analyst and is identifying internal strengths and weaknesses from her
company internal operational data, metadata, snapshot data, and transactional data.
She needs to analyze information about business rules and data processing to improve
the efficiency of report queries and data management. Larissa is analyzing - Correct
Answers -Metadata
Benjamin is conducting an exploratory visualization of a large dataset. He has several
available formats to display his results, including scatterplots, bar plots, pivot tables, and
histograms. Because he needs to synthesize large amounts of data into manageable
columns and rows and to be able to study it from various perspectives, Benjamin
creates a - Correct Answers -Pivot table.
Katarina is a data analyst for an insurer. She is responsible for data engineering, data
mining, data manipulation, and data modeling. Which one of Katarina's responsibilities
involves analyzing large amounts of data to find new relationships and patterns that will
assist in data-driven decision making? - Correct Answers -Data mining
Match the data examples with their data type. All options must be correct for credit. -
Correct Answers -Structured:
Financial/Sensor/Medicall Prognoses
Unstructured:
Recordings/Notes/Images
, Internet websites are often created using which one of the following? - Correct Answers
-Hypertext Markup Language
As a marketer for an insurer, Jobim knows that customer acquisition costs are high.
Jobim is aware that one reason for the high costs is that - Correct Answers -The larger
companies spend a lot of money on marketing.
Data that is not organized into predetermined formats, such as databases, and often
consists of text, images, or other nontraditional media, is called data. - Correct Answers
-Unstructured
A terminal node of a classification tree that is used to classify an instance based on its
attributes is called a node. - Correct Answers -Leaf
Chloe is the personal auto claim supervisor for Parker Insurance. She notices an
increase in bodily injury claims in one of her territories, and suspects that some of the
claims may be fraudulent. Parker's internal fraud detection system identifies a number
of claimants who were all being treated by the same medical group. Chloe suspects that
a fraud ring may be involved. Which one of the following methods should Chloe use to
help her identify the fraud ring? - Correct Answers -Network analysis
Which one of the following words would most likely be included in the list of stopwords
identified by a data scientist analyzing unstructured text data for an insurance
company? - Correct Answers -There
An insured pays $1,000 in premiums every 3 months. It is expected to remain an
insured for the next 10 years. What is its customer lifetime value? - Correct Answers -
40000
An insurer wants to determine the complexity of a claim at the time of first report. Which
one of the following is an important step after identifying the attributes of complex
claims? - Correct Answers -Ranking the attributes according to their relative information
gain
Jack is a commercial property underwriter. Which one of the following types of
technological data could help him evaluate property exposure by monitoring
temperature, moisture, smoke, and other environmental factors? - Correct Answers -
Sensor data
Which one of the following statements is correct regarding how advanced technology
has changed insurers' use of historical loss data in the commercial insurance
application process? - Correct Answers -Insurers now have the ability to gather,
process, and analyze massive volumes of loss data at unprecedented speeds.
