AIC 300 Claims in an Evolving World EXAM
(New 2026/ 2027 Update) Questions &
Answers 100% Correct (Verified Solutions)
- {Grade A}
The first key to communicating empathetically as a claims professional is
Select one:
A. A comprehensive understanding of relevant insurance policies.
B. Speaking calmly and clearly.
C. Being prepared with all documentation relating to the claim.
D. Listening. - Correct answer D. Listening.
Claims professionals should first listen carefully to understand what the claimant is
saying.
Mia tracks loss adjustment expense (LAE) as part of her management of the claims
department for an insurer. Mia considers LAE to be the
Select one:
A. Total amount of loss reserves of all claims.
,B. Paid portion of claims.
C. Cost to investigate, defend, and settle claims.
D. Total incurred amount of claims. - Correct answer C. Cost to investigate, defend, and
settle claims.
Cost to investigate, defend, and settle claims. LAE is the expense that an insurer
incurs to investigate, defend, and settle claims according to the terms specified in the
insurance policy.
In her role with an insurer, Katarina has opportunity to collaborate with not only
employees from her company, but also external experts with particular expertise. For
example, as part of her investigation, she hired an engineer to conduct a review of a
machine that was involved in a personal injury. Katarina is a(n)
Select one:
A. Medical provider.
B. Expert Witness.
C. Premium auditor.
D. Claim representative. - Correct answer D. Claim representative.
,Claim reps collaborate with more than other insurer employees. Many insurers employ
a panel of experts that the claims rep can select according to the investigation's needs.
When Mehmet interviews witnesses as part of his claims investigation, he asks
different types of questions based on need, such as open-ended, direct, indirect, and
leading. Which type of question should Mehmet ask when he wants to set the
interviewee at ease and he is looking for explanation or elaboration of details in the
interviewee's own words?
Select one:
A. Open-ended
B. Direct
C. Indirect
D. Leading - Correct answer A. Open-ended
Open-ended questions can be used to clarify an interviewee's statements.
, Charlotte is handling a new claim and she has set the initial reserves at $1,000,000.
She has been asked to complete an internal report summarizing all the file status
information for distribution to management and updated as more information is
received. The report Charlotte is completing is most likely a
Select one:
A. Status report.
B. Summarized report.
C. Preliminary report.
D. Large loss report. - Correct answer D. Large loss report.
Most insurers have guidelines outlining when and under what circumstances large
loss reports should be prepared.
In which one of the following scenarios is the right of subrogation most likely to be
employed by the insurer?
Select one:
A. An insured files a homeowners claim for stolen jewelry. An investigation reveals
that the jewelry is still in the insured's possession.
(New 2026/ 2027 Update) Questions &
Answers 100% Correct (Verified Solutions)
- {Grade A}
The first key to communicating empathetically as a claims professional is
Select one:
A. A comprehensive understanding of relevant insurance policies.
B. Speaking calmly and clearly.
C. Being prepared with all documentation relating to the claim.
D. Listening. - Correct answer D. Listening.
Claims professionals should first listen carefully to understand what the claimant is
saying.
Mia tracks loss adjustment expense (LAE) as part of her management of the claims
department for an insurer. Mia considers LAE to be the
Select one:
A. Total amount of loss reserves of all claims.
,B. Paid portion of claims.
C. Cost to investigate, defend, and settle claims.
D. Total incurred amount of claims. - Correct answer C. Cost to investigate, defend, and
settle claims.
Cost to investigate, defend, and settle claims. LAE is the expense that an insurer
incurs to investigate, defend, and settle claims according to the terms specified in the
insurance policy.
In her role with an insurer, Katarina has opportunity to collaborate with not only
employees from her company, but also external experts with particular expertise. For
example, as part of her investigation, she hired an engineer to conduct a review of a
machine that was involved in a personal injury. Katarina is a(n)
Select one:
A. Medical provider.
B. Expert Witness.
C. Premium auditor.
D. Claim representative. - Correct answer D. Claim representative.
,Claim reps collaborate with more than other insurer employees. Many insurers employ
a panel of experts that the claims rep can select according to the investigation's needs.
When Mehmet interviews witnesses as part of his claims investigation, he asks
different types of questions based on need, such as open-ended, direct, indirect, and
leading. Which type of question should Mehmet ask when he wants to set the
interviewee at ease and he is looking for explanation or elaboration of details in the
interviewee's own words?
Select one:
A. Open-ended
B. Direct
C. Indirect
D. Leading - Correct answer A. Open-ended
Open-ended questions can be used to clarify an interviewee's statements.
, Charlotte is handling a new claim and she has set the initial reserves at $1,000,000.
She has been asked to complete an internal report summarizing all the file status
information for distribution to management and updated as more information is
received. The report Charlotte is completing is most likely a
Select one:
A. Status report.
B. Summarized report.
C. Preliminary report.
D. Large loss report. - Correct answer D. Large loss report.
Most insurers have guidelines outlining when and under what circumstances large
loss reports should be prepared.
In which one of the following scenarios is the right of subrogation most likely to be
employed by the insurer?
Select one:
A. An insured files a homeowners claim for stolen jewelry. An investigation reveals
that the jewelry is still in the insured's possession.
