AIDA 182 ALL POSSIBLE QUESTIONS AND
ANSWERS SCRIPT 2026 UPDATED
QUESTIONS WITH DETAILED SOLUTIONS
GRADED A+
⩥ data-driven decision making. Answer: An organizational process to
gather and analyze relevant and verifiable data and then evaluate the
results to guide business strategies.
⩥ quantitative. Answer: based on numerical values or other units of
measurement
⩥ qualitative. Answer: based on some quality or characteristic rather
than on measured value
⩥ structured data. Answer: data organized into databased with defined
fields, including links between databases
⩥ telematics. Answer: the use of technological devices to transmit data
via wireless communication and GPS tracking
⩥ unstructured data. Answer: data that is not organized into
predetermined formats, such as databases, and often consists of text,
images, or other nontraditional media
, ⩥ internal data. Answer: data that is owned by an organization
⩥ metadata. Answer: the data about data that provides context for
analyzing transaction facts with efficient structures for grouping
hierarchial information
⩥ underwriting expenses. Answer: costs incurred by an insurer for
operations, taxes, fees, and the acquisition of new policies
⩥ loss adjustment expense (LAE). Answer: the expense that an insurer
incurs to investigate, defend, and settle claims according to the terms
specified in the insurance policy
⩥ allocated loss adjustment expense (ALAE). Answer: The expense an
insurer incurs to investigate, defend, and settle claims that are associated
with a specific claim.
⩥ unallocated loss adjustment expense (ULAE). Answer: Loss
adjustment expense that cannot be readily associated with a specific
claim.
⩥ salvage. Answer: the process by which an insurer takes possession of
damaged property for which it has paid a total loss and recovers a
portion of the loss payment by selling the damaged property
ANSWERS SCRIPT 2026 UPDATED
QUESTIONS WITH DETAILED SOLUTIONS
GRADED A+
⩥ data-driven decision making. Answer: An organizational process to
gather and analyze relevant and verifiable data and then evaluate the
results to guide business strategies.
⩥ quantitative. Answer: based on numerical values or other units of
measurement
⩥ qualitative. Answer: based on some quality or characteristic rather
than on measured value
⩥ structured data. Answer: data organized into databased with defined
fields, including links between databases
⩥ telematics. Answer: the use of technological devices to transmit data
via wireless communication and GPS tracking
⩥ unstructured data. Answer: data that is not organized into
predetermined formats, such as databases, and often consists of text,
images, or other nontraditional media
, ⩥ internal data. Answer: data that is owned by an organization
⩥ metadata. Answer: the data about data that provides context for
analyzing transaction facts with efficient structures for grouping
hierarchial information
⩥ underwriting expenses. Answer: costs incurred by an insurer for
operations, taxes, fees, and the acquisition of new policies
⩥ loss adjustment expense (LAE). Answer: the expense that an insurer
incurs to investigate, defend, and settle claims according to the terms
specified in the insurance policy
⩥ allocated loss adjustment expense (ALAE). Answer: The expense an
insurer incurs to investigate, defend, and settle claims that are associated
with a specific claim.
⩥ unallocated loss adjustment expense (ULAE). Answer: Loss
adjustment expense that cannot be readily associated with a specific
claim.
⩥ salvage. Answer: the process by which an insurer takes possession of
damaged property for which it has paid a total loss and recovers a
portion of the loss payment by selling the damaged property
