AIC 300 - CLAIMS IN AN EVOLVING WORLD | 50 ACTUAL EXAM
QUESTIONS AND 100% RATED CORRECT ANSWERS | 100% VERIFIED
| GET A+
Adam manages a claims department for an insurer. He measures the department's performance
by best practices, claims audits, customer satisfaction data, and loss ratio. Which one of Adam's
measures refers to a system of identified internal practices that claims representatives perform to
produce superior performance?
A. Claims audits
B. Best practices
C. Loss ratio
D. Customer satisfaction data - (Correct Answer)B. Best practices
你是想要一篇“眼睛容易阅读
Best practices generally refers to a system of identified internal practices that are shared with
claims reps and produce superior performance. 的”中文文章
DaJuan, a claims representative, sets a low case reserve for a seemingly simple claim. A few
weeks later it becomes apparent that the initial reserve was too low, and he increases it in order
to issue payments. More bills related to the claim arrive a few months later, and he increases the
reserve again. This process is known as
Select one:
A. Readjusting.
B. Stairstepping
C. Reopening.
D. Incremental reserving. - (Correct Answer)B. Stairstepping.
Correct. The process of repeatedly increasing the reserve for a claim is called stairstepping.
,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. Are potentially discoverable in a trial.
B. Continue for as long as the claim is open.
C. Present a chronology of the life of the claim.
D. Must be able to speak for themselves. - (Correct Answer)A. Are potentially discoverable in a
trial.
Correct. Are potentially discoverable in a trial. Seemingly innocuous comments can be
devastating when read to a jury.
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 你是想要一篇“眼睛容易阅读
will require her to understand the insurance
profession to which the data is being applied?的”中文文章
Select one:
A. Mathematics and statistics
B. Data science
C. Computer programming
D. Domain knowledge - (Correct Answer)Domain knowledge
...is the understanding of the discipline, profession, or activity to which the data is being applied.
rin helps her employer, a multi-line insurer, to determine actual exposure and premium for
coverage. She does this by conducting detailed examinations of policyholder operations, records,
and accounting. Erin is a(n)
Select one:
A. Underwriter
, B. Premium auditor.
C. Claims adjuster.
D. Producer. - (Correct Answer)Premium auditor.
Premium auditors provide inventory values, contractors' equipment lists, and other facts that are
important to the claims function.
Erik is a claims manager for Taunton Insurance. He is leading a team of property claims
representatives responding to a recent tornado in Kentucky. Before sending the representatives
into the field, Erik has decided to use Internet of Things (IoT) technology to assess the damage
and danger in the area. Which one of the following IoT devices would Erik most likely use in
this situation?
Select one:
A. Drones
B. Telematics
你是想要一篇“眼睛容易阅读
C. Smartphones
的”中文文章
D. Sensors - (Correct Answer)Drones
Erik would most likely use drones to take photos or videos of the difficult-to-reach area and
assess the damage and danger. By using the drones, he can assess the danger without risking the
safety of the claims representatives. Telematics devices are used in automobiles to create a
picture of driving patterns.
Mustafa is a data scientist who is working with a team of underwriting, IT, and actuary to
develop a predictive analytics model. The main goal of the project is to translate the insights
gained from the model they develop into business action. In Mustafa's experience, the team
member that can provide the bridge between the analytics and the business is
Select one:
A. Underwriting.
B. Data science
C. Actuary.
QUESTIONS AND 100% RATED CORRECT ANSWERS | 100% VERIFIED
| GET A+
Adam manages a claims department for an insurer. He measures the department's performance
by best practices, claims audits, customer satisfaction data, and loss ratio. Which one of Adam's
measures refers to a system of identified internal practices that claims representatives perform to
produce superior performance?
A. Claims audits
B. Best practices
C. Loss ratio
D. Customer satisfaction data - (Correct Answer)B. Best practices
你是想要一篇“眼睛容易阅读
Best practices generally refers to a system of identified internal practices that are shared with
claims reps and produce superior performance. 的”中文文章
DaJuan, a claims representative, sets a low case reserve for a seemingly simple claim. A few
weeks later it becomes apparent that the initial reserve was too low, and he increases it in order
to issue payments. More bills related to the claim arrive a few months later, and he increases the
reserve again. This process is known as
Select one:
A. Readjusting.
B. Stairstepping
C. Reopening.
D. Incremental reserving. - (Correct Answer)B. Stairstepping.
Correct. The process of repeatedly increasing the reserve for a claim is called stairstepping.
,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. Are potentially discoverable in a trial.
B. Continue for as long as the claim is open.
C. Present a chronology of the life of the claim.
D. Must be able to speak for themselves. - (Correct Answer)A. Are potentially discoverable in a
trial.
Correct. Are potentially discoverable in a trial. Seemingly innocuous comments can be
devastating when read to a jury.
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 你是想要一篇“眼睛容易阅读
will require her to understand the insurance
profession to which the data is being applied?的”中文文章
Select one:
A. Mathematics and statistics
B. Data science
C. Computer programming
D. Domain knowledge - (Correct Answer)Domain knowledge
...is the understanding of the discipline, profession, or activity to which the data is being applied.
rin helps her employer, a multi-line insurer, to determine actual exposure and premium for
coverage. She does this by conducting detailed examinations of policyholder operations, records,
and accounting. Erin is a(n)
Select one:
A. Underwriter
, B. Premium auditor.
C. Claims adjuster.
D. Producer. - (Correct Answer)Premium auditor.
Premium auditors provide inventory values, contractors' equipment lists, and other facts that are
important to the claims function.
Erik is a claims manager for Taunton Insurance. He is leading a team of property claims
representatives responding to a recent tornado in Kentucky. Before sending the representatives
into the field, Erik has decided to use Internet of Things (IoT) technology to assess the damage
and danger in the area. Which one of the following IoT devices would Erik most likely use in
this situation?
Select one:
A. Drones
B. Telematics
你是想要一篇“眼睛容易阅读
C. Smartphones
的”中文文章
D. Sensors - (Correct Answer)Drones
Erik would most likely use drones to take photos or videos of the difficult-to-reach area and
assess the damage and danger. By using the drones, he can assess the danger without risking the
safety of the claims representatives. Telematics devices are used in automobiles to create a
picture of driving patterns.
Mustafa is a data scientist who is working with a team of underwriting, IT, and actuary to
develop a predictive analytics model. The main goal of the project is to translate the insights
gained from the model they develop into business action. In Mustafa's experience, the team
member that can provide the bridge between the analytics and the business is
Select one:
A. Underwriting.
B. Data science
C. Actuary.
