AIC 300 - CLAIMS IN AN EVOLVING
WORLD EXAM Questions and Answers
GRADE A+ Latest Updates 2025
Are potentially discoverable in a trial. Seemingly innocuous comments can be devastating when
read to a jury. - answer>>Olivia is careful to keep proper claim status notes when she handles a
claim. For example, she makes sure to only include neutral, objective comments about the
parties involved. This is because claim notes
Select one:
A. Continue for as long as the claim is open.
B. Present a chronology of the life of the claim.
C. Are potentially discoverable in a trial.
D. Must be able to speak for themselves.
B. 3
The lift provided by the predictive model is 3. The lift is calculated by dividing the model
percentage by the nonmodel percentage. (45/15 = 3) - answer>>Millstone Insurance wanted to
assign its most complex workers compensation claims to experienced claim adjusters as early as
possible. The data science team used the classification tree technique to develop a predictive
model. When holdout data was used to test the model's predictive accuracy, 45% of the
complex claims were assigned to experienced adjusters. When claims were randomly assigned,
only 15% of the complex claims were assigned to experienced adjusters. What is the lift
provided by the predictive model?
Select one:
A. 0.333
B. 3
C. 30
D. 45
C. Staff underwriter.
,This describes the duties of a staff underwriter. Line underwriter. This describes the duties of a
line underwriter, rather than a staff underwriter. There is not enough information to determine
which line of business is being written. A public underwriter does not exist. Line underwriters
evaluate new submissions and perform renewal underwriting, usually by working directly with
insurance producers and applicants. Staff underwriters, meanwhile, manage risk selection by
working with line underwriters and coordinating decisions about products, pricing and
,guidelines. - answer>>Alva works for an international, multi-line insurer. She helps her company
to manage risk selection by working with other underwriters and coordinating decisions about
products, pricing, and guidelines. Alva is a
Select one:
A. Master underwriter.
B. Line underwriter.
C. Staff underwriter.
D. Chief Underwriting Officer.
D. Insured's collusion with claimant
Insured's collusion with claimant. Discovering collusion between the insured and claimant, such
as a claimant agreeing not to collect a judgment from the insured's assets, can lead to dismissal
of a bad-faith claim. - answer>>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?
Select one:
A. Contributory negligence
B. Advice of counsel
C. Debatable reasonable basis
D. Insured's collusion with claimant
D. With a bank draft, the bank must verify that the insurer has authorized payment. -
answer>>Among the methods used to pay claims are the issuance of checks and bank drafts.
The main difference between the two is that
Select one:
A. Only checks may be used for claim payments in excess of $10,000.
B. With a check, the bank must verify that the insurer has authorized payment.
C. Only bank drafts may be used for claim payments in excess of $10,000.
, D. With a bank draft, the bank must verify that the insurer has authorized payment.
C. Claimants, insureds, supervisors and others.
The impression that claims reps make on claimants, insureds, and others reflects either
favorably or unfavorably on the insurer. - answer>>A claims representative should have the
ability to persuade or influence
Select one:
A. Supervisors.
B. Insureds.
C. Claimants, insureds, supervisors and others.
D. Claimants.
C. Insured, claims rep, defense counsel
A summons and complaint is typically received by the insured, who then shares it with the
claims rep, who in turn sends it to the insurer's defense counsel. - answer>>In a typical scenario,
a summons and complaint initiating litigation is received by these parties in which one of the
following sequences?
Select one:
A. Defense counsel, insured, claims rep
B. Defense counsel, claims rep, insured
C. Insured, claims rep, defense counsel
D. Claims rep, insured, defense counsel
D. Soft fraud
In soft fraud, a legitimate loss occurs but the value of that loss is exaggerated. -
answer>>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?
Select one:
WORLD EXAM Questions and Answers
GRADE A+ Latest Updates 2025
Are potentially discoverable in a trial. Seemingly innocuous comments can be devastating when
read to a jury. - answer>>Olivia is careful to keep proper claim status notes when she handles a
claim. For example, she makes sure to only include neutral, objective comments about the
parties involved. This is because claim notes
Select one:
A. Continue for as long as the claim is open.
B. Present a chronology of the life of the claim.
C. Are potentially discoverable in a trial.
D. Must be able to speak for themselves.
B. 3
The lift provided by the predictive model is 3. The lift is calculated by dividing the model
percentage by the nonmodel percentage. (45/15 = 3) - answer>>Millstone Insurance wanted to
assign its most complex workers compensation claims to experienced claim adjusters as early as
possible. The data science team used the classification tree technique to develop a predictive
model. When holdout data was used to test the model's predictive accuracy, 45% of the
complex claims were assigned to experienced adjusters. When claims were randomly assigned,
only 15% of the complex claims were assigned to experienced adjusters. What is the lift
provided by the predictive model?
Select one:
A. 0.333
B. 3
C. 30
D. 45
C. Staff underwriter.
,This describes the duties of a staff underwriter. Line underwriter. This describes the duties of a
line underwriter, rather than a staff underwriter. There is not enough information to determine
which line of business is being written. A public underwriter does not exist. Line underwriters
evaluate new submissions and perform renewal underwriting, usually by working directly with
insurance producers and applicants. Staff underwriters, meanwhile, manage risk selection by
working with line underwriters and coordinating decisions about products, pricing and
,guidelines. - answer>>Alva works for an international, multi-line insurer. She helps her company
to manage risk selection by working with other underwriters and coordinating decisions about
products, pricing, and guidelines. Alva is a
Select one:
A. Master underwriter.
B. Line underwriter.
C. Staff underwriter.
D. Chief Underwriting Officer.
D. Insured's collusion with claimant
Insured's collusion with claimant. Discovering collusion between the insured and claimant, such
as a claimant agreeing not to collect a judgment from the insured's assets, can lead to dismissal
of a bad-faith claim. - answer>>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?
Select one:
A. Contributory negligence
B. Advice of counsel
C. Debatable reasonable basis
D. Insured's collusion with claimant
D. With a bank draft, the bank must verify that the insurer has authorized payment. -
answer>>Among the methods used to pay claims are the issuance of checks and bank drafts.
The main difference between the two is that
Select one:
A. Only checks may be used for claim payments in excess of $10,000.
B. With a check, the bank must verify that the insurer has authorized payment.
C. Only bank drafts may be used for claim payments in excess of $10,000.
, D. With a bank draft, the bank must verify that the insurer has authorized payment.
C. Claimants, insureds, supervisors and others.
The impression that claims reps make on claimants, insureds, and others reflects either
favorably or unfavorably on the insurer. - answer>>A claims representative should have the
ability to persuade or influence
Select one:
A. Supervisors.
B. Insureds.
C. Claimants, insureds, supervisors and others.
D. Claimants.
C. Insured, claims rep, defense counsel
A summons and complaint is typically received by the insured, who then shares it with the
claims rep, who in turn sends it to the insurer's defense counsel. - answer>>In a typical scenario,
a summons and complaint initiating litigation is received by these parties in which one of the
following sequences?
Select one:
A. Defense counsel, insured, claims rep
B. Defense counsel, claims rep, insured
C. Insured, claims rep, defense counsel
D. Claims rep, insured, defense counsel
D. Soft fraud
In soft fraud, a legitimate loss occurs but the value of that loss is exaggerated. -
answer>>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?
Select one:
