AU60 Exam Questions With Correct Answers
/ / / / /
book /of /business /- /verified /answer(s)-
✔✔A
/group
/of /policies /with /a /common /characteristic, /such /as /territory /or /type /of /coverage, /or /all /policies
/written /by /a /particular /insurer /or /agency.
underwriting /- /verified /answer(s)-
✔✔The
/process
/of
/selecting
/insureds,
/pricing
/coverage,
/determining
/insurance
/policy /terms /and /conditions, /and /then /monitoring /the /underwriting /decisions /made.
adverse /selection /- /verified /answer(s)-
✔✔In
/general,
/the
/tendency
/for
/people
/with /the /greatest /probability /of /loss /to /be /the /ones /most /likely /to /purchase /insurance.
policyholders' /surplus /- /verified /answer(s)-
✔✔Under
/statutory
/accounting /principles /(SAP), /an /insurer's /total /admitted /assets /minus /its /total /liabilities.
,underwriting /guidelines /(UW /guide) /- /verified /answer(s)-
✔✔A
/written
/manual
/that
/communicates
/an
/insurer's
/underwriting
/policy /and /that /specifies /the /attributes /of /an /account /that /an /insurer /is /willing /to /insure.
predictive /modeling /- /verified /answer(s)-
✔✔A
/process
/in
/which
/historical
/data
/based
/on
/behaviors
/and
/events
/is
/blended
/with /multiple /variables /and /used /to /construct /models /of /anticipated /future /outcomes.
catastrophe /model /- /verified /answer(s)-
✔✔A /type /of /computer /that /estimates /losses /from /future /potential /catastrophic /events.
telematics /- /verified /answer(s)-
✔✔The
/use /of /technological /devices /to /transmit /data /via /wireless /communication /and /GPS /tracking.
,capacity /- /verified /answer(s)-
✔✔The
/amount
/of /business /an /insure /is /able /to /write, /usually /based /on /a /comparison /of /the /insurer's /written
/premiums /to /its /policyholder's /surplus.
manuscript /policy /or /manuscript /endorsement /- /verified /answer(s)-
✔✔An
/insurance
/policy
/or
/endorsement
/that
/specifically
/drafted
/according
/to /terms /negotiated /between /a /specific /insured /(or /group /of /insureds) /and /an /insurer.
big /data /- /verified /answer(s)-
✔✔Sets /of /data /that /are /too /large /to /be /gathered /and /analyzed /by /traditional /methods.
smart /product /- /verified /answer(s)-
✔✔An
/innovative
/item
/that
/uses
/sensors;
/wireless
/sensor
/networks;
/and
/data
, /collection, /transmission, /and /analysis /to /further /enable /the /item /to /be /faster, /more /useful, /or
/otherwise /improved.
internet /of /things /(IoT) /- /verified /answer(s)-
✔✔A
/network /of /objects /that /transmit /data /to /each /other /and /central /hubs /through /the /internet.
artificial /intelligence /(AI) /- /verified /answer(s)-
✔✔Computer /processing /or /output /that /simulates /human /reasoning /or /knowledge
Machine /learning /- /verified /answer(s)-
✔✔artificial
/intelligence
/in
/which
/computers
/continually
/teach /themselves /to /make /better /decisions /based /on /previous /results /and /new /data
Deep /Learning /- /verified /answer(s)-
✔✔Insights
/into
/data
/use
/and
/processing
/gained
/by
/combining
/artificial
/intelligence
/and /machine /learning. /It /is /based /on /algorithms /derived /from /artificial /neural /networks.
/ / / / /
book /of /business /- /verified /answer(s)-
✔✔A
/group
/of /policies /with /a /common /characteristic, /such /as /territory /or /type /of /coverage, /or /all /policies
/written /by /a /particular /insurer /or /agency.
underwriting /- /verified /answer(s)-
✔✔The
/process
/of
/selecting
/insureds,
/pricing
/coverage,
/determining
/insurance
/policy /terms /and /conditions, /and /then /monitoring /the /underwriting /decisions /made.
adverse /selection /- /verified /answer(s)-
✔✔In
/general,
/the
/tendency
/for
/people
/with /the /greatest /probability /of /loss /to /be /the /ones /most /likely /to /purchase /insurance.
policyholders' /surplus /- /verified /answer(s)-
✔✔Under
/statutory
/accounting /principles /(SAP), /an /insurer's /total /admitted /assets /minus /its /total /liabilities.
,underwriting /guidelines /(UW /guide) /- /verified /answer(s)-
✔✔A
/written
/manual
/that
/communicates
/an
/insurer's
/underwriting
/policy /and /that /specifies /the /attributes /of /an /account /that /an /insurer /is /willing /to /insure.
predictive /modeling /- /verified /answer(s)-
✔✔A
/process
/in
/which
/historical
/data
/based
/on
/behaviors
/and
/events
/is
/blended
/with /multiple /variables /and /used /to /construct /models /of /anticipated /future /outcomes.
catastrophe /model /- /verified /answer(s)-
✔✔A /type /of /computer /that /estimates /losses /from /future /potential /catastrophic /events.
telematics /- /verified /answer(s)-
✔✔The
/use /of /technological /devices /to /transmit /data /via /wireless /communication /and /GPS /tracking.
,capacity /- /verified /answer(s)-
✔✔The
/amount
/of /business /an /insure /is /able /to /write, /usually /based /on /a /comparison /of /the /insurer's /written
/premiums /to /its /policyholder's /surplus.
manuscript /policy /or /manuscript /endorsement /- /verified /answer(s)-
✔✔An
/insurance
/policy
/or
/endorsement
/that
/specifically
/drafted
/according
/to /terms /negotiated /between /a /specific /insured /(or /group /of /insureds) /and /an /insurer.
big /data /- /verified /answer(s)-
✔✔Sets /of /data /that /are /too /large /to /be /gathered /and /analyzed /by /traditional /methods.
smart /product /- /verified /answer(s)-
✔✔An
/innovative
/item
/that
/uses
/sensors;
/wireless
/sensor
/networks;
/and
/data
, /collection, /transmission, /and /analysis /to /further /enable /the /item /to /be /faster, /more /useful, /or
/otherwise /improved.
internet /of /things /(IoT) /- /verified /answer(s)-
✔✔A
/network /of /objects /that /transmit /data /to /each /other /and /central /hubs /through /the /internet.
artificial /intelligence /(AI) /- /verified /answer(s)-
✔✔Computer /processing /or /output /that /simulates /human /reasoning /or /knowledge
Machine /learning /- /verified /answer(s)-
✔✔artificial
/intelligence
/in
/which
/computers
/continually
/teach /themselves /to /make /better /decisions /based /on /previous /results /and /new /data
Deep /Learning /- /verified /answer(s)-
✔✔Insights
/into
/data
/use
/and
/processing
/gained
/by
/combining
/artificial
/intelligence
/and /machine /learning. /It /is /based /on /algorithms /derived /from /artificial /neural /networks.
