AIC 300 - Simulated Exam Questions
and Answers | Fall 2026 | 100% Correct
Insurers and claim representatives must keep the promises specified in
insurance policies, as well as those created by the law. In insurance
transactions, the insured pays a premium for the insurer's promise to - 🧠
ANSWER ✔✔Handle claims in good faith.
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? - 🧠 ANSWER ✔✔Insured's collusion with the claimant.
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? - 🧠 ANSWER ✔✔Soft Fraud.
In liability claims, the claims rep will require an authorization from the
injured party to - 🧠 ANSWER ✔✔Obtain medical records.
Antonia has a general liability policy with a self-insured retention of
$50,000. The policy has an occurrence limit of $250,000 and an aggregate
limit of $500,000. She had submitted one prior claim this policy term for
which $100,000 was paid by the insurer. How much will Antonia's insurer
pay on a subsequent claim under the same policy period that is valued at
$400,000? - 🧠 ANSWER ✔✔$250,000
Claims rep Miguel is conducting a settlement with a claimant. He constructs
his first offer so that the claimant will likely find it undesirable. This
becomes the basis of comparison for the second offer that he makes.
Miguel understands that people - 🧠 ANSWER ✔✔Feel empowered when
given a choice.
Joy Insurance Company is interested in using data mining to solve a
problem it is having with claims fraud in one of its product lines. The first
and Answers | Fall 2026 | 100% Correct
Insurers and claim representatives must keep the promises specified in
insurance policies, as well as those created by the law. In insurance
transactions, the insured pays a premium for the insurer's promise to - 🧠
ANSWER ✔✔Handle claims in good faith.
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? - 🧠 ANSWER ✔✔Insured's collusion with the claimant.
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? - 🧠 ANSWER ✔✔Soft Fraud.
In liability claims, the claims rep will require an authorization from the
injured party to - 🧠 ANSWER ✔✔Obtain medical records.
Antonia has a general liability policy with a self-insured retention of
$50,000. The policy has an occurrence limit of $250,000 and an aggregate
limit of $500,000. She had submitted one prior claim this policy term for
which $100,000 was paid by the insurer. How much will Antonia's insurer
pay on a subsequent claim under the same policy period that is valued at
$400,000? - 🧠 ANSWER ✔✔$250,000
Claims rep Miguel is conducting a settlement with a claimant. He constructs
his first offer so that the claimant will likely find it undesirable. This
becomes the basis of comparison for the second offer that he makes.
Miguel understands that people - 🧠 ANSWER ✔✔Feel empowered when
given a choice.
Joy Insurance Company is interested in using data mining to solve a
problem it is having with claims fraud in one of its product lines. The first
