AIC 300 - CLAIMS IN AN EVOLVING WORLD EXAM
QUESTION 2025\26 |GUARANTEED ACCURATE
ANSWERS |LATEST VERSION |ACTUAL
Through data mining, Goshen Mutual discovers that customers who insure two
,Select one:
A. Classification
B. Association rule learning
C. Regression analysis
D. Cluster analysis
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A. Objective.
B. Association rule learning
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.
A. Preserve the evidence as part of the record.
An insurer defending a first-party coverage lawsuit could be found liable if evidence is
intentionally or negligently lost or destroyed.
, Don't know?
Definition 2 of 105
Which one of the following best describes the term 'professionalism' as it
relates to claims professionals?
Select one:
A. The behaviors necessary to implement an ethical decision
B. Remaining silent when a competitor is disparaged publicly
C. Fulfilling the terms of an insurance contract
D. A set of principles and values
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B. Average value method
The average value method is used most often when their are small variations in loss size for a
particular type of claim, and when claims can be concluded quickly.
, A. The behaviors necessary to implement an ethical decision
D. Potentially complex claims
Potentially complex claims are the most difficult for insurers to identify at the time of first
report.
D. An endorsement.
An endorsement can include coverage that is otherwise excluded, exclude coverage that is
otherwise included, or add or delete insureds.
Don't know?
Definition 3 of 105
Hanna is in IT and works on data analytics projects for an insurer. These
projects involve analyzing large amounts of data to help underwriting to
select risks and price policies. Hanna knows that collaboration between data
science, IT, underwriting, and actuary is critical to the success of these
projects. In Hanna's experience, as soon as the need for a data project arises,
QUESTION 2025\26 |GUARANTEED ACCURATE
ANSWERS |LATEST VERSION |ACTUAL
Through data mining, Goshen Mutual discovers that customers who insure two
,Select one:
A. Classification
B. Association rule learning
C. Regression analysis
D. Cluster analysis
Give this one a try later!
A. Objective.
B. Association rule learning
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.
A. Preserve the evidence as part of the record.
An insurer defending a first-party coverage lawsuit could be found liable if evidence is
intentionally or negligently lost or destroyed.
, Don't know?
Definition 2 of 105
Which one of the following best describes the term 'professionalism' as it
relates to claims professionals?
Select one:
A. The behaviors necessary to implement an ethical decision
B. Remaining silent when a competitor is disparaged publicly
C. Fulfilling the terms of an insurance contract
D. A set of principles and values
Give this one a try later!
B. Average value method
The average value method is used most often when their are small variations in loss size for a
particular type of claim, and when claims can be concluded quickly.
, A. The behaviors necessary to implement an ethical decision
D. Potentially complex claims
Potentially complex claims are the most difficult for insurers to identify at the time of first
report.
D. An endorsement.
An endorsement can include coverage that is otherwise excluded, exclude coverage that is
otherwise included, or add or delete insureds.
Don't know?
Definition 3 of 105
Hanna is in IT and works on data analytics projects for an insurer. These
projects involve analyzing large amounts of data to help underwriting to
select risks and price policies. Hanna knows that collaboration between data
science, IT, underwriting, and actuary is critical to the success of these
projects. In Hanna's experience, as soon as the need for a data project arises,
