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AIC 300 - SIMULATED EXAM 2026
ACTUAL QUESTIONS WITH VERIFIED
ANSWERS.
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 - correct answer-Stairstepping
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? - correct answer-Best practices
Which one of the following methods of establishing case
reserves involves a consensus among multiple claims reps? -
correct answer-Roundtable Method
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Alva works for an international, multi-line insurer. She helps her
company to manage risk selection by working with other
underwriters and coordinating decisions about products,
pricing, and guidelines. Alva is a - correct answer-Staff
Underwriter
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 - correct
answer-Actuary
Sho is a claims representative. With regard to his responsibility
for defending his employer against fraud, Sho understands that
- correct answer-Paying fraudulent claims affects insureds.
In a typical scenario, a summons and complaint initiating
litigation is received by these parties in which one of the
following sequences? - correct answer-Insured, Claims Rep,
Defense Counsel
AIC 300 - SIMULATED EXAM 2026
ACTUAL QUESTIONS WITH VERIFIED
ANSWERS.
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 - correct answer-Stairstepping
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? - correct answer-Best practices
Which one of the following methods of establishing case
reserves involves a consensus among multiple claims reps? -
correct answer-Roundtable Method
, Page | 2
Alva works for an international, multi-line insurer. She helps her
company to manage risk selection by working with other
underwriters and coordinating decisions about products,
pricing, and guidelines. Alva is a - correct answer-Staff
Underwriter
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 - correct
answer-Actuary
Sho is a claims representative. With regard to his responsibility
for defending his employer against fraud, Sho understands that
- correct answer-Paying fraudulent claims affects insureds.
In a typical scenario, a summons and complaint initiating
litigation is received by these parties in which one of the
following sequences? - correct answer-Insured, Claims Rep,
Defense Counsel
