AIC 301 Final Exam (Associate in Claims)
EXAM COVERAGE - AIC 301 Final Exam (Associate in Claims)
The AIC 301 Final Exam assesses knowledge of legal principles and
claim practices essential for insurance claims professionals. Key topics
include contract law, such as offer and acceptance, consideration,
enforceability, waiver, estoppel, and implied contracts. The exam
evaluates understanding of tort law and liability concepts, including
negligence, damages, legal defenses, and responsibilities in claim
situations. Candidates are tested on property rights and ownership
laws, including community property, separate property, and
assignment of contractual rights. Additional areas include
transportation and commercial documents, such as bills of lading, and
the legal responsibilities of carriers in the movement of goods. The
,exam also covers claims investigation procedures, ethical
responsibilities, dispute resolution, and settlement practices. Emphasis
is placed on applying legal and insurance principles to real-world
claims scenarios to ensure fair, lawful, and effective claims handling.
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?
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?
Soft Fraud.
In liability claims, the claims rep will require an authorization from the
injured party to
Obtain medical records.
EXAM COVERAGE - AIC 301 Final Exam (Associate in Claims)
The AIC 301 Final Exam assesses knowledge of legal principles and
claim practices essential for insurance claims professionals. Key topics
include contract law, such as offer and acceptance, consideration,
enforceability, waiver, estoppel, and implied contracts. The exam
evaluates understanding of tort law and liability concepts, including
negligence, damages, legal defenses, and responsibilities in claim
situations. Candidates are tested on property rights and ownership
laws, including community property, separate property, and
assignment of contractual rights. Additional areas include
transportation and commercial documents, such as bills of lading, and
the legal responsibilities of carriers in the movement of goods. The
,exam also covers claims investigation procedures, ethical
responsibilities, dispute resolution, and settlement practices. Emphasis
is placed on applying legal and insurance principles to real-world
claims scenarios to ensure fair, lawful, and effective claims handling.
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?
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?
Soft Fraud.
In liability claims, the claims rep will require an authorization from the
injured party to
Obtain medical records.
