AIDA 181 - PRACTICE EXAMS SET 2025
AIDA 181 - PRACTICE EXAMS SET 2025 WITH GUARANTEED
ACCURATE ANSWERS |VERIFIED |LATEST VERSION
Greatview Insurance wants to predict which auto liability claims will
most likely go to litigation, so it can assign them to experienced
adjusters early in the process. There are certain known indicators of
litigation that Greatview wants to use in the data mining process. Which
one of the following data mining techniques would Greatview's analyst
most likely use? - ACCURATE ANSWERS✔✔ Classification
Which one of the following is correct regarding an insurer's big data? -
ACCURATE ANSWERS✔✔ An insurer's big data consists of both its
own internal data and external data
Data science is especially useful for - ACCURATE ANSWERS✔✔
Unstructured data
,Which one of the following correctly describes a new evolution of big
data, sometimes referred to as big data 2.0 in insurance and risk
management? - ACCURATE ANSWERS✔✔ Organizations can
strategically use data from the Internet of Things and vehicle telematics
Which one of the following is a way that insurers and risk managers can
use data science to improve their results through data-driven decision
making? - ACCURATE ANSWERS✔✔ Discovering new relationships
in data
All of the following are fundamental concepts of data science, EXCEPT:
- ACCURATE ANSWERS✔✔ The data mining project need not provide
actions that lead to better business results in order to be considered
worthwhile
The descriptive approach is applied - ACCURATE ANSWERS✔✔
When an insurer or risk manager has a specific problem
Which one of the following is a data mining technique an insurer applies
when it knows what information it wants to predict? - ACCURATE
ANSWERS✔✔ Classification
Which one of the following is correct about data science? - ACCURATE
ANSWERS✔✔ Data science is a new field that arose from the need to
link big data and technology to provide useful information
,Which one of the following is a legal and regulatory concern in
obtaining mass information from social media? - ACCURATE
ANSWERS✔✔ Privacy
The important first step in a decision-making model is to - ACCURATE
ANSWERS✔✔ Define the problem
Data scientists at Grisham Risk and Insurance are working with
underwriting, claims, and other department professionals to design data
mining projects to help generate better business solutions and decisions.
Which one of the following is true regarding this collaboration at
Grisham? - ACCURATE ANSWERS✔✔ The data scientists will
explore underutilized sources of data, such as social media and social
networks
Gustav is a claims representative from Forefront Insurance. He is
accessing online weather reports to determine hazardous road conditions
alleged by an injured claimant. These weather reports are an example of
which one of the following types of data? - ACCURATE
ANSWERS✔✔ External unstructured data
The first step in the data mining process is to - ACCURATE
ANSWERS✔✔ Understand what a business wants to achieve
, Data scientists must be able to - ACCURATE ANSWERS✔✔ Analyze
traditional data as well as new types
Which one of the following is a fundamental concept of data science? -
ACCURATE ANSWERS✔✔ The selection of data mining approaches
must be considered in the context in which the results will be applied
A project team at Goshen Mutual has been working on developing a new
product for the personal insurance market. The team is using
geodemographic data to determine which territories would be the best to
introduce the product. Geodemographic data would be categorized as -
ACCURATE ANSWERS✔✔ Structured external data
The purpose of data analytics for insurers is to - ACCURATE
ANSWERS✔✔ Make data-driven decisions and strategy
The insurance professionals who have traditionally analyzed data and
made predictions based on their analyses are - ACCURATE
ANSWERS✔✔ Actuaries
Reynolds Insurance provides workers compensation insurance for small
to medium sized companies, mostly to its local and regional
manufacturers. For data science to be relevant and useful to Reynolds,
which one of the following types of technology would be its best
investment? - ACCURATE ANSWERS✔✔ Harnessing the Internet of
AIDA 181 - PRACTICE EXAMS SET 2025 WITH GUARANTEED
ACCURATE ANSWERS |VERIFIED |LATEST VERSION
Greatview Insurance wants to predict which auto liability claims will
most likely go to litigation, so it can assign them to experienced
adjusters early in the process. There are certain known indicators of
litigation that Greatview wants to use in the data mining process. Which
one of the following data mining techniques would Greatview's analyst
most likely use? - ACCURATE ANSWERS✔✔ Classification
Which one of the following is correct regarding an insurer's big data? -
ACCURATE ANSWERS✔✔ An insurer's big data consists of both its
own internal data and external data
Data science is especially useful for - ACCURATE ANSWERS✔✔
Unstructured data
,Which one of the following correctly describes a new evolution of big
data, sometimes referred to as big data 2.0 in insurance and risk
management? - ACCURATE ANSWERS✔✔ Organizations can
strategically use data from the Internet of Things and vehicle telematics
Which one of the following is a way that insurers and risk managers can
use data science to improve their results through data-driven decision
making? - ACCURATE ANSWERS✔✔ Discovering new relationships
in data
All of the following are fundamental concepts of data science, EXCEPT:
- ACCURATE ANSWERS✔✔ The data mining project need not provide
actions that lead to better business results in order to be considered
worthwhile
The descriptive approach is applied - ACCURATE ANSWERS✔✔
When an insurer or risk manager has a specific problem
Which one of the following is a data mining technique an insurer applies
when it knows what information it wants to predict? - ACCURATE
ANSWERS✔✔ Classification
Which one of the following is correct about data science? - ACCURATE
ANSWERS✔✔ Data science is a new field that arose from the need to
link big data and technology to provide useful information
,Which one of the following is a legal and regulatory concern in
obtaining mass information from social media? - ACCURATE
ANSWERS✔✔ Privacy
The important first step in a decision-making model is to - ACCURATE
ANSWERS✔✔ Define the problem
Data scientists at Grisham Risk and Insurance are working with
underwriting, claims, and other department professionals to design data
mining projects to help generate better business solutions and decisions.
Which one of the following is true regarding this collaboration at
Grisham? - ACCURATE ANSWERS✔✔ The data scientists will
explore underutilized sources of data, such as social media and social
networks
Gustav is a claims representative from Forefront Insurance. He is
accessing online weather reports to determine hazardous road conditions
alleged by an injured claimant. These weather reports are an example of
which one of the following types of data? - ACCURATE
ANSWERS✔✔ External unstructured data
The first step in the data mining process is to - ACCURATE
ANSWERS✔✔ Understand what a business wants to achieve
, Data scientists must be able to - ACCURATE ANSWERS✔✔ Analyze
traditional data as well as new types
Which one of the following is a fundamental concept of data science? -
ACCURATE ANSWERS✔✔ The selection of data mining approaches
must be considered in the context in which the results will be applied
A project team at Goshen Mutual has been working on developing a new
product for the personal insurance market. The team is using
geodemographic data to determine which territories would be the best to
introduce the product. Geodemographic data would be categorized as -
ACCURATE ANSWERS✔✔ Structured external data
The purpose of data analytics for insurers is to - ACCURATE
ANSWERS✔✔ Make data-driven decisions and strategy
The insurance professionals who have traditionally analyzed data and
made predictions based on their analyses are - ACCURATE
ANSWERS✔✔ Actuaries
Reynolds Insurance provides workers compensation insurance for small
to medium sized companies, mostly to its local and regional
manufacturers. For data science to be relevant and useful to Reynolds,
which one of the following types of technology would be its best
investment? - ACCURATE ANSWERS✔✔ Harnessing the Internet of
