AIC 300 ALL CLAIMS EXAM
2024-2025 LATEST REAL EXAM
WITH ACTUAL NGN QUESTIONS
AND VERIFIED WELL
EXPLAINED 100% CORRECT
ANSWERS
WITH RATIONALES GRADED A+
LATEST UPDATE 2025 WITH
100% GUARANTEED SUCCESS
AFTER DOWNLOAD (ALL YOU
NEED TO PASS YOUR
EXAMS
A common-law principle that prevents a person who has been harmed from recovering
damages if that person's own negligence contributed in any way to the harm
, Contributory Negligence
An accepted standard for the steps in any data mining process used to provide business
solutions
Cross Industry Standard Process for Data Mining (CRISP DM)
The analysis of large amounts of data to find new relationships and patterns that will assist in
developing business solutions
Data mining
An interdisciplinary field involving the design and use of techniques to process very large
amounts of data from a variety of sources and to provide knowledge based on the data
Data science
A reduction in the value of property that results directly and often immediately from damage
to that property
Direct loss
A pretrial exchange of all relevant information between the plaintiff and defendant
Discovery
Information related to the context of the information a data scientist is working with
Domain knowledge
The study of what constitutes good and bad behavior, dealing with moral duty and obligation
Ethics
A method of setting reserves with a software application that estimates losses and loss
adjustment expenses
Expert System method
A set of rules established to ensure that civil actions and procedures move through the United
States district courts as quickly as possible
Federal Rules of Civil Procedure
The initial report notifying the insurer of a claim
First notice of loss (FNOL)
A method of setting claims reserves be using a mathematical formula
Formula method
A monetary award to compensate a victim for losses, such as pain and suffering, that do not
involve specific, measurable expenses
, General damages
Actions that are undertaken deliberately to defraud
Hard fraud
In the model training process, existing data with a known target variable that is not used as
part of the training data
Holdout data
To restore a party who has sustained a loss to the same financial position that party held
before the loss occurred
Indemnify
A loss that arises as a result of damage to property, other than the direct loss to the property
Indirect loss
A method of setting reserves based on the claim's circumstances and the claims
representative's experience in handling similar claims
Individual case method
A measure of the predictive power of one or more attributes
Information gain
An interest in the subject of an insurance policy that is not unduly remote and that would
cause the interested party to suffer financial loss if an insured event occurred
Insurable interest
Any deliberate deception committed against an insurer or an insurance producer for the
purpose of unwarranted financial gain
Insurance fraud
A network of objects that transmit data to each other and to central hubs through the internet
Internet of Things (IoT)
In model performance evaluation, a model's correct predictions divided by its total
predictions
Accuracy
A person who uses mathematical methods to analyze insurance data for various purposes,
such as to develop insurance rates or set claim reserves
Actuary
2024-2025 LATEST REAL EXAM
WITH ACTUAL NGN QUESTIONS
AND VERIFIED WELL
EXPLAINED 100% CORRECT
ANSWERS
WITH RATIONALES GRADED A+
LATEST UPDATE 2025 WITH
100% GUARANTEED SUCCESS
AFTER DOWNLOAD (ALL YOU
NEED TO PASS YOUR
EXAMS
A common-law principle that prevents a person who has been harmed from recovering
damages if that person's own negligence contributed in any way to the harm
, Contributory Negligence
An accepted standard for the steps in any data mining process used to provide business
solutions
Cross Industry Standard Process for Data Mining (CRISP DM)
The analysis of large amounts of data to find new relationships and patterns that will assist in
developing business solutions
Data mining
An interdisciplinary field involving the design and use of techniques to process very large
amounts of data from a variety of sources and to provide knowledge based on the data
Data science
A reduction in the value of property that results directly and often immediately from damage
to that property
Direct loss
A pretrial exchange of all relevant information between the plaintiff and defendant
Discovery
Information related to the context of the information a data scientist is working with
Domain knowledge
The study of what constitutes good and bad behavior, dealing with moral duty and obligation
Ethics
A method of setting reserves with a software application that estimates losses and loss
adjustment expenses
Expert System method
A set of rules established to ensure that civil actions and procedures move through the United
States district courts as quickly as possible
Federal Rules of Civil Procedure
The initial report notifying the insurer of a claim
First notice of loss (FNOL)
A method of setting claims reserves be using a mathematical formula
Formula method
A monetary award to compensate a victim for losses, such as pain and suffering, that do not
involve specific, measurable expenses
, General damages
Actions that are undertaken deliberately to defraud
Hard fraud
In the model training process, existing data with a known target variable that is not used as
part of the training data
Holdout data
To restore a party who has sustained a loss to the same financial position that party held
before the loss occurred
Indemnify
A loss that arises as a result of damage to property, other than the direct loss to the property
Indirect loss
A method of setting reserves based on the claim's circumstances and the claims
representative's experience in handling similar claims
Individual case method
A measure of the predictive power of one or more attributes
Information gain
An interest in the subject of an insurance policy that is not unduly remote and that would
cause the interested party to suffer financial loss if an insured event occurred
Insurable interest
Any deliberate deception committed against an insurer or an insurance producer for the
purpose of unwarranted financial gain
Insurance fraud
A network of objects that transmit data to each other and to central hubs through the internet
Internet of Things (IoT)
In model performance evaluation, a model's correct predictions divided by its total
predictions
Accuracy
A person who uses mathematical methods to analyze insurance data for various purposes,
such as to develop insurance rates or set claim reserves
Actuary
