AIC 301 EXAM AND PRACTICE EXAM NEWEST 2025 ACTUAL EXAM COMPLET
300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+
Study online at https://quizlet.com/_jdlhkc
1. Insurers and claim representatives must keep the promises specified in in-
surance policies, as well as those created by the law. In insurance transactions,
the insured pays a premium for the insurer's promise to: Handle claims in good faith.
2. 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.
3. 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.
4. In liability claims, the claims rep will require an authorization from the
injured party to: Obtain medical records.
5. Antonia has a general liability policy with a self-insured retention of $50,000.
The policy has an occurrence limit of $250,000 and an aggregate limit of
$500,000. She had submitted 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
6. Claims rep Miguel is conducting a settlement 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 under-
stands that people: Feel empowered when given a choice.
7. 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.
1/7
, AIC 301 EXAM AND PRACTICE EXAM NEWEST 2025 ACTUAL EXAM COMPLET
300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+
Study online at https://quizlet.com/_jdlhkc
8. Thomas is an attorney who is defending an insurer in a litigated 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.
9. As a part of the first contact with an insured on a property damage claim, a
claims representative may provide a blank: Proof of loss form.
10. Ciara is going to college with the goal of working as a data scientist for
an insurer. She will need a strong foundation in mathematics and statistics,
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.
11. 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: Losses and LAE divided by earned premium.
12. An insurer that finds it economically impractical to establish a claims office
in a given state is likely to use which one of the following to perform the claims
handling function?: Independent Adjusters
13. Tonya is a claims representative 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 declarations, insuring agreement,
conditions and: Exclusions.
14. Which one of the following is correct with respect to the elements of
good-faith claim management?: Consistent supervision, thorough training, and manageable case-
loads help ensure that claim representatives are able to handle claims in good faith.
15. 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.
16. As a claims representative, Joshua frequently requests proofs of loss and
affidavits, and conducts examinations under oath and recorded statements.
Which one of Joshua's sworn statements is administered by the insurer's
2/7
300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+
Study online at https://quizlet.com/_jdlhkc
1. Insurers and claim representatives must keep the promises specified in in-
surance policies, as well as those created by the law. In insurance transactions,
the insured pays a premium for the insurer's promise to: Handle claims in good faith.
2. 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.
3. 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.
4. In liability claims, the claims rep will require an authorization from the
injured party to: Obtain medical records.
5. Antonia has a general liability policy with a self-insured retention of $50,000.
The policy has an occurrence limit of $250,000 and an aggregate limit of
$500,000. She had submitted 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
6. Claims rep Miguel is conducting a settlement 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 under-
stands that people: Feel empowered when given a choice.
7. 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.
1/7
, AIC 301 EXAM AND PRACTICE EXAM NEWEST 2025 ACTUAL EXAM COMPLET
300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+
Study online at https://quizlet.com/_jdlhkc
8. Thomas is an attorney who is defending an insurer in a litigated 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.
9. As a part of the first contact with an insured on a property damage claim, a
claims representative may provide a blank: Proof of loss form.
10. Ciara is going to college with the goal of working as a data scientist for
an insurer. She will need a strong foundation in mathematics and statistics,
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.
11. 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: Losses and LAE divided by earned premium.
12. An insurer that finds it economically impractical to establish a claims office
in a given state is likely to use which one of the following to perform the claims
handling function?: Independent Adjusters
13. Tonya is a claims representative 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 declarations, insuring agreement,
conditions and: Exclusions.
14. Which one of the following is correct with respect to the elements of
good-faith claim management?: Consistent supervision, thorough training, and manageable case-
loads help ensure that claim representatives are able to handle claims in good faith.
15. 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.
16. As a claims representative, Joshua frequently requests proofs of loss and
affidavits, and conducts examinations under oath and recorded statements.
Which one of Joshua's sworn statements is administered by the insurer's
2/7
