AIC 300 CLAIMS IN AN EVOLVING WORLD
STUDY GUIDE EXAM 2026 COMPLETE
QUESTIONS WITH SOLUTIONS GRADED A+
◉A. Drones
Erik would most likely use drones to take photos or videos of the
difficult-to-reach area and assess the damage and danger. By using
the drones, he can assess the danger without risking the safety of the
claims representatives. Answer: Erik is a claims manager for
Taunton Insurance. He is leading a team of property claims
representatives responding to a recent tornado in Kentucky. Before
sending the representatives into the field, Erik has decided to use
Internet of Things (IoT) technology to assess the damage and danger
in the area. Which one of the following IoT devices would Erik most
likely use in this situation?
Select one:
A. Drones
B. Sensors
C. Smartphones
D. Telematics
◉B. Is named in the policy declarations or an endorsement.
,An individual may have an insurable interest in a building, but not be
considered an insured under the policy because the person's name
is not listed in the declarations or on an endorsement. Answer: Luke
runs his business out of a store front in a commercial building. After
a fire destroyed part of the building, Luke made a claim for damages
and received a settlement check from the property insurer. This
necessarily means that Luke
Select one:
A. Has business interruption coverage.
B. Is named in the policy declarations or an endorsement.
C. Has an insurable interest in the damaged property.
D. Is the owner of the building.
◉B. Losses and LAE divided by earned premium.
Losses and LAE divided by earned premium. Loss ratio measures
losses and loss adjustment expenses against earned premium and
reflects the percentage of premiums being consumed by losses.
Answer: Rodrigo manages a claims department for an insurer and
uses loss ratio as a measure of the department's performance.
Rodrigo calculates loss ratio as
Select one:
A. Losses divided by written premium.
B. Losses and LAE divided by earned premium.
, C. Losses and LAE divided by written premium.
D. Losses divided by earned premium.
◉B. Obtain medical records.
In liability claims, the claims rep will require an authorization from
the injured party to obtain medical records. Answer: In liability
claims, the claims rep will require an authorization from the injured
party to
Select one:
A. Investigate the claim.
B. Obtain medical records.
C. Contact the insured.
D. Issue a partial claim settlement.
◉A. Actuary.
Actuaries are critically important to this process because they
understand the business and the analytics. Answer: 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
STUDY GUIDE EXAM 2026 COMPLETE
QUESTIONS WITH SOLUTIONS GRADED A+
◉A. Drones
Erik would most likely use drones to take photos or videos of the
difficult-to-reach area and assess the damage and danger. By using
the drones, he can assess the danger without risking the safety of the
claims representatives. Answer: Erik is a claims manager for
Taunton Insurance. He is leading a team of property claims
representatives responding to a recent tornado in Kentucky. Before
sending the representatives into the field, Erik has decided to use
Internet of Things (IoT) technology to assess the damage and danger
in the area. Which one of the following IoT devices would Erik most
likely use in this situation?
Select one:
A. Drones
B. Sensors
C. Smartphones
D. Telematics
◉B. Is named in the policy declarations or an endorsement.
,An individual may have an insurable interest in a building, but not be
considered an insured under the policy because the person's name
is not listed in the declarations or on an endorsement. Answer: Luke
runs his business out of a store front in a commercial building. After
a fire destroyed part of the building, Luke made a claim for damages
and received a settlement check from the property insurer. This
necessarily means that Luke
Select one:
A. Has business interruption coverage.
B. Is named in the policy declarations or an endorsement.
C. Has an insurable interest in the damaged property.
D. Is the owner of the building.
◉B. Losses and LAE divided by earned premium.
Losses and LAE divided by earned premium. Loss ratio measures
losses and loss adjustment expenses against earned premium and
reflects the percentage of premiums being consumed by losses.
Answer: Rodrigo manages a claims department for an insurer and
uses loss ratio as a measure of the department's performance.
Rodrigo calculates loss ratio as
Select one:
A. Losses divided by written premium.
B. Losses and LAE divided by earned premium.
, C. Losses and LAE divided by written premium.
D. Losses divided by earned premium.
◉B. Obtain medical records.
In liability claims, the claims rep will require an authorization from
the injured party to obtain medical records. Answer: In liability
claims, the claims rep will require an authorization from the injured
party to
Select one:
A. Investigate the claim.
B. Obtain medical records.
C. Contact the insured.
D. Issue a partial claim settlement.
◉A. Actuary.
Actuaries are critically important to this process because they
understand the business and the analytics. Answer: 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
