AIC 300 - Claims in an Evolving World
Exam Questions And Answers
B. By certified mail with a return receipt requested.
Some will also send a copy via regular mail in case the certified
letter is not accepted. -
correct answer ✅Insurers usually send denial letters
Select one:
A. By email to ensure prompt receipt by the insured.
B. By certified mail with a return receipt requested.
C. By overnight courier.
D. By registered mail.
D. Subpoenaed.
Any written claims communication may be subpoenaed. -
correct answer ✅As methods of communication evolve, it's
important for claims professionals to remember that any written
claims communication may be
Select one:
A. Replaced with verbal communication.
B. Misinterpreted.
,AIC 300 - Claims in an Evolving World
Exam Questions And Answers
C. Edited later.
D. Subpoenaed.
D. An insured's negotiations with the insurer on a complex claim
are not going well.
If a claim is complex, or if settlement negotiations are not
progressing with the insurer, the insured may hire a public adjuster
to protect his or her interests. -
correct answer ✅In which one of the following scenarios is a
public adjuster most likely to become involved?
Select one:
A. An insurer finds it financially unfeasible to hire its own claims
staff in a given state.
B. An insured is unable to afford legal representation to contest a
claim.
C. A catastrophic disaster strikes, involving damage to many
properties.
D. An insured's negotiations with the insurer on a complex claim
are not going well.
,AIC 300 - Claims in an Evolving World
Exam Questions And Answers
B. TPAs handle claims, keep claims records, and perform statistical
analyses. -
correct answer ✅Which one of the following statements
regarding third-party administrators (TPAs) is most accurate?
Select one:
A. TPAs are typically used by businesses that have chosen not to
self-insure.
B. TPAs handle claims, keep claims records, and perform statistical
analyses.
C. TPAs are generally found in an insurer's claims department.
D. TPAs are employed only by independent adjusting firms.
A. Proper releases taken
Proper releases taken is a qualitative audit factor; the others are
quantitative. -
correct answer ✅Hugo is conducting an audit of a branch office
claims operation. He is evaluating timeliness of reports, number of
files opened, proper releases taken, and accuracy of data entry.
Which one of Hugo's metrics is a qualitative audit factor?
Select one:
A. Proper releases taken
, AIC 300 - Claims in an Evolving World
Exam Questions And Answers
B. Timeliness of reports
C. Number of files opened
D. Accuracy of data entry
D. Line 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. -
correct answer ✅Aaron works for a multi-line insurer. He works
with insurance producers and applicants to evaluate new business
submissions and conduct renewal underwriting. Aaron is a
Select one:
A. Staff underwriter.
B. Public underwriter.
C. Personal lines underwriter.
Exam Questions And Answers
B. By certified mail with a return receipt requested.
Some will also send a copy via regular mail in case the certified
letter is not accepted. -
correct answer ✅Insurers usually send denial letters
Select one:
A. By email to ensure prompt receipt by the insured.
B. By certified mail with a return receipt requested.
C. By overnight courier.
D. By registered mail.
D. Subpoenaed.
Any written claims communication may be subpoenaed. -
correct answer ✅As methods of communication evolve, it's
important for claims professionals to remember that any written
claims communication may be
Select one:
A. Replaced with verbal communication.
B. Misinterpreted.
,AIC 300 - Claims in an Evolving World
Exam Questions And Answers
C. Edited later.
D. Subpoenaed.
D. An insured's negotiations with the insurer on a complex claim
are not going well.
If a claim is complex, or if settlement negotiations are not
progressing with the insurer, the insured may hire a public adjuster
to protect his or her interests. -
correct answer ✅In which one of the following scenarios is a
public adjuster most likely to become involved?
Select one:
A. An insurer finds it financially unfeasible to hire its own claims
staff in a given state.
B. An insured is unable to afford legal representation to contest a
claim.
C. A catastrophic disaster strikes, involving damage to many
properties.
D. An insured's negotiations with the insurer on a complex claim
are not going well.
,AIC 300 - Claims in an Evolving World
Exam Questions And Answers
B. TPAs handle claims, keep claims records, and perform statistical
analyses. -
correct answer ✅Which one of the following statements
regarding third-party administrators (TPAs) is most accurate?
Select one:
A. TPAs are typically used by businesses that have chosen not to
self-insure.
B. TPAs handle claims, keep claims records, and perform statistical
analyses.
C. TPAs are generally found in an insurer's claims department.
D. TPAs are employed only by independent adjusting firms.
A. Proper releases taken
Proper releases taken is a qualitative audit factor; the others are
quantitative. -
correct answer ✅Hugo is conducting an audit of a branch office
claims operation. He is evaluating timeliness of reports, number of
files opened, proper releases taken, and accuracy of data entry.
Which one of Hugo's metrics is a qualitative audit factor?
Select one:
A. Proper releases taken
, AIC 300 - Claims in an Evolving World
Exam Questions And Answers
B. Timeliness of reports
C. Number of files opened
D. Accuracy of data entry
D. Line 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. -
correct answer ✅Aaron works for a multi-line insurer. He works
with insurance producers and applicants to evaluate new business
submissions and conduct renewal underwriting. Aaron is a
Select one:
A. Staff underwriter.
B. Public underwriter.
C. Personal lines underwriter.
