AIC 300 - Simulated Exam| Ques ons and answers |
Updated RATED A+ | NEW 2026
Insurers and claim representa ves must keep the promises specified in insurance policies, as
well as those created by the law. In insurance transac ons, the insured pays a premium for the
insurer's promise to
Handle claims in good faith.
Maja handled a large liability claim that se!led above the policy limits. The insured is now
charging the claim was handled in bad faith. During their inves ga on 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.
Be(na'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
cons tutes which one of the following types of fraud?
So+ Fraud.
In liability claims, the claims rep will require an authoriza on from the injured party to
Obtain medical records.
Antonia has a general liability policy with a self-insured reten on of $50,000. The policy has an
occurrence limit of $250,000 and an aggregate limit of $500,000. She had submi!ed one prior
claim this policy term for which $100,000 was paid by the insurer. How much will Antonia's
insurer pay on a subsequent claim under the same policy period that is valued at $400,000?
$250,000
Claims rep Miguel is conduc ng a se!lement with a claimant. He constructs his first offer so
that the claimant will likely find it undesirable. This becomes the basis of comparison for the
second offer that he makes. Miguel understands that people
Feel empowered when given a choice.
Joy Insurance Company is interested in using data mining to solve a problem it is having with
claims fraud in one of its product lines. The first step it should take is
, To understand what it wants to achieve.
Thomas is an a!orney who is defending an insurer in a li gated case. He has located documents
that show the insured was aware of the issue that cause the injury to the claimant before the
accident. Thomas is concerned that this evidence will hurt his case. He should
Preserve the evidence as part of the record.
As a part of the first contact with an insured on a property damage claim, a claims
representa ve may provide a blank
Proof of loss form.
Ciara is going to college with the goal of working as a data scien st for an insurer. She will need
a strong founda on in mathema cs and sta s cs, computer programming, domain knowledge,
and data science. Which one of Ciara's skills will require her to understand the insurance
profession to which the data is being applied?
Domain knowledge.
Rodrigo manages a claims department for an insurer and uses loss ra o as a measure of the
department's performance. Rodrigo calculates loss ra o as
Losses and LAE divided by earned premium.
An insurer that finds it economically imprac cal to establish a claims office in a given state is
likely to use which one of the following to perform the claims handling func on?
Independent Adjusters
Tonya is a claims representa ve tasked with determining whether coverage applies to a new
claim. To ensure that she considers all facets of the claim, she uses the DICE method, which
stands for declara ons, insuring agreement, condi ons and
Exclusions.
Which one of the following is correct with respect to the elements of good-faith claim
management?
Consistent supervision, thorough training, and manageable caseloads help ensure that claim
representa ves are able to handle claims in good faith.
Which one of the following elements of a policy can include coverage that is otherwise
excluded, exclude coverage that is otherwise included, or add or delete insureds?
An endorsement.
Updated RATED A+ | NEW 2026
Insurers and claim representa ves must keep the promises specified in insurance policies, as
well as those created by the law. In insurance transac ons, the insured pays a premium for the
insurer's promise to
Handle claims in good faith.
Maja handled a large liability claim that se!led above the policy limits. The insured is now
charging the claim was handled in bad faith. During their inves ga on 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.
Be(na'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
cons tutes which one of the following types of fraud?
So+ Fraud.
In liability claims, the claims rep will require an authoriza on from the injured party to
Obtain medical records.
Antonia has a general liability policy with a self-insured reten on of $50,000. The policy has an
occurrence limit of $250,000 and an aggregate limit of $500,000. She had submi!ed one prior
claim this policy term for which $100,000 was paid by the insurer. How much will Antonia's
insurer pay on a subsequent claim under the same policy period that is valued at $400,000?
$250,000
Claims rep Miguel is conduc ng a se!lement with a claimant. He constructs his first offer so
that the claimant will likely find it undesirable. This becomes the basis of comparison for the
second offer that he makes. Miguel understands that people
Feel empowered when given a choice.
Joy Insurance Company is interested in using data mining to solve a problem it is having with
claims fraud in one of its product lines. The first step it should take is
, To understand what it wants to achieve.
Thomas is an a!orney who is defending an insurer in a li gated case. He has located documents
that show the insured was aware of the issue that cause the injury to the claimant before the
accident. Thomas is concerned that this evidence will hurt his case. He should
Preserve the evidence as part of the record.
As a part of the first contact with an insured on a property damage claim, a claims
representa ve may provide a blank
Proof of loss form.
Ciara is going to college with the goal of working as a data scien st for an insurer. She will need
a strong founda on in mathema cs and sta s cs, computer programming, domain knowledge,
and data science. Which one of Ciara's skills will require her to understand the insurance
profession to which the data is being applied?
Domain knowledge.
Rodrigo manages a claims department for an insurer and uses loss ra o as a measure of the
department's performance. Rodrigo calculates loss ra o as
Losses and LAE divided by earned premium.
An insurer that finds it economically imprac cal to establish a claims office in a given state is
likely to use which one of the following to perform the claims handling func on?
Independent Adjusters
Tonya is a claims representa ve tasked with determining whether coverage applies to a new
claim. To ensure that she considers all facets of the claim, she uses the DICE method, which
stands for declara ons, insuring agreement, condi ons and
Exclusions.
Which one of the following is correct with respect to the elements of good-faith claim
management?
Consistent supervision, thorough training, and manageable caseloads help ensure that claim
representa ves are able to handle claims in good faith.
Which one of the following elements of a policy can include coverage that is otherwise
excluded, exclude coverage that is otherwise included, or add or delete insureds?
An endorsement.
