3: Strengthening the Insurance Value Chain
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CPCU 550: Maximizing Value with D... CPCU 550 AIC 304 Module
140 terms 115 terms 119 terms 38 terms
Steven5523 Preview JoshNoel300 Preview pommietr Preview bay
American Insurance Company uses cluster analysis to D. An algorithm.
determine relationships in data related to underwriting. In
cluster analysis, "k-means" represents
Select one:
A. An instance.
B. The nearest neighbor.
C. The centroid.
D. An algorithm.
For which one of the following is it difficult to rely solely C. Newly introduced products and emerging technologies
on traditional underwriting guidelines?
Select one:
A. Products that do not have uncertain risk characteristics
B. Any products that are made, sold, distributed, or given
away
C. Newly introduced products and emerging
technologies
D. Products with warning labels
, Marc is a claims manager for Millstone Insurance. It has A. Cluster analysis
experienced significant development of workers
compensation claims over the last two years, and Marc
has been asked to work with the data science team to
determine the cause. Because they do not know what
factors are causing the development, the team suggests
that they begin with an unsupervised learning technique
that does not have a defined target variable. The
technique will identify groups of claims that share
attributes. Which one of the following techniques is the
data science team suggesting?
Select one:
A. Cluster analysis
B. Text mining
C. Classification tree analysis
D. Nearest neighbor analysis
Lainie, a data manager for Insurance Company, is tasked D. Cost-benefit analysis.
with assessing whether the company should adopt a new
technological solution. To do this, she first analyzes both
the positive and negative results that are likely to occur
as a result of making the change. This is called a(n)
Select one:
A. Pros and cons review.
B. Business intelligence study.
C. Underwriting assessment.
D. Cost-benefit analysis.
The development of a product or service to address the A. Product targeting.
special needs of a market segment is known as
Select one:
A. Product targeting.
B. Need focus marketing.
C. Segment marketing.
D. Product development.
Which one of the following explains why a computer D. To analyze different splits in the values of attributes
recursively applies a model?
Select one:
A. To identify attributes that can be used
B. To analyze claims data from previous years
C. To determine the probability of a target variable
D. To analyze different splits in the values of attributes
Save
Students also studied
CPCU 550: Maximizing Value with D... CPCU 550 AIC 304 Module
140 terms 115 terms 119 terms 38 terms
Steven5523 Preview JoshNoel300 Preview pommietr Preview bay
American Insurance Company uses cluster analysis to D. An algorithm.
determine relationships in data related to underwriting. In
cluster analysis, "k-means" represents
Select one:
A. An instance.
B. The nearest neighbor.
C. The centroid.
D. An algorithm.
For which one of the following is it difficult to rely solely C. Newly introduced products and emerging technologies
on traditional underwriting guidelines?
Select one:
A. Products that do not have uncertain risk characteristics
B. Any products that are made, sold, distributed, or given
away
C. Newly introduced products and emerging
technologies
D. Products with warning labels
, Marc is a claims manager for Millstone Insurance. It has A. Cluster analysis
experienced significant development of workers
compensation claims over the last two years, and Marc
has been asked to work with the data science team to
determine the cause. Because they do not know what
factors are causing the development, the team suggests
that they begin with an unsupervised learning technique
that does not have a defined target variable. The
technique will identify groups of claims that share
attributes. Which one of the following techniques is the
data science team suggesting?
Select one:
A. Cluster analysis
B. Text mining
C. Classification tree analysis
D. Nearest neighbor analysis
Lainie, a data manager for Insurance Company, is tasked D. Cost-benefit analysis.
with assessing whether the company should adopt a new
technological solution. To do this, she first analyzes both
the positive and negative results that are likely to occur
as a result of making the change. This is called a(n)
Select one:
A. Pros and cons review.
B. Business intelligence study.
C. Underwriting assessment.
D. Cost-benefit analysis.
The development of a product or service to address the A. Product targeting.
special needs of a market segment is known as
Select one:
A. Product targeting.
B. Need focus marketing.
C. Segment marketing.
D. Product development.
Which one of the following explains why a computer D. To analyze different splits in the values of attributes
recursively applies a model?
Select one:
A. To identify attributes that can be used
B. To analyze claims data from previous years
C. To determine the probability of a target variable
D. To analyze different splits in the values of attributes
