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AIC 300 ALL CLAIMS NEWEST 2025/2026 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (100%
VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED||
Which one of the following methods of establishing case reserves
is used most often when there are small variations in loss size for
a particular type of claim?
Select one:
A. Individual case method
B. Average value method
C. Formula method
D. Roundtable method - ANSWER-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.
To determine whether an insurer typically underreserves or
overreserves claims, actuaries compare the insurer's paid losses
to
Select one:
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A. The insurer's case reserves.
B. The insurer's profits.
C. NAIC model regulations.
D. National averages. - ANSWER-A. The insurer's case reserves.
To determine whether an insurer typically underreserves or
overreserves claims, actuaries compare the insurer's paid losses
to the insurer's case reserves.
Samuel was seriously injured in a car accident caused by a drunk
driver. His settlement included payments for repairs to his vehicle,
medical bills, pain and suffering, and lost wages. Which one of the
payments in Samuel's settlement is considered general
damages?
Select one:
A. Medical bills
B. Lost wages
C. Repairs to his vehicle
D. Pain and suffering - ANSWER-D. Pain and suffering
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Pain and suffering, disfigurement, loss of body function, and
emotional distress are all forms of general damages.
Andrew is a claims representative investigating whether coverage
applies to a new claim. To help ensure that he considers every
facet of the policy before determining coverage, he might use
Select one:
A. The CARD method.
B. The CARE method.
C. The DICE method.
D. The DARE method. - ANSWER-C. The DICE method.
Mitsuki was severely injured when the safety latch on an
amusement park ride failed and she was thrown from the ride. In
her lawsuit with the amusement park, Mitsuki was awarded
payment for pain and suffering, emotional distress, disfigurement,
and loss of earnings. Which one of Mitsuki's awards is considered
special damages?
Select one:
A. Loss of earnings
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B. Emotional distress
C. Pain and suffering
D. Disfigurement - ANSWER-A. Loss of earnings
Loss of earnings, medical bills, and lost property payments are all
considered special damages.
Although most policies are occurrence forms, covering claims that
occur during the policy period, some are claims-made forms.
Which one of the following types of loss is most likely to involve a
claims-made form?
Select one:
A. An automotive collision claim.
B. A homeowners liability claim due to a slip and fall.
C. A homeowners claim due to storm damage.
D. A medical malpractice claim. - ANSWER-D. A medical
malpractice claim.
Claims-made forms are most often used for environmental,
medical malpractice and directors and officers' policies.
AIC 300 ALL CLAIMS NEWEST 2025/2026 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (100%
VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED||
Which one of the following methods of establishing case reserves
is used most often when there are small variations in loss size for
a particular type of claim?
Select one:
A. Individual case method
B. Average value method
C. Formula method
D. Roundtable method - ANSWER-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.
To determine whether an insurer typically underreserves or
overreserves claims, actuaries compare the insurer's paid losses
to
Select one:
,2|Page
A. The insurer's case reserves.
B. The insurer's profits.
C. NAIC model regulations.
D. National averages. - ANSWER-A. The insurer's case reserves.
To determine whether an insurer typically underreserves or
overreserves claims, actuaries compare the insurer's paid losses
to the insurer's case reserves.
Samuel was seriously injured in a car accident caused by a drunk
driver. His settlement included payments for repairs to his vehicle,
medical bills, pain and suffering, and lost wages. Which one of the
payments in Samuel's settlement is considered general
damages?
Select one:
A. Medical bills
B. Lost wages
C. Repairs to his vehicle
D. Pain and suffering - ANSWER-D. Pain and suffering
,3|Page
Pain and suffering, disfigurement, loss of body function, and
emotional distress are all forms of general damages.
Andrew is a claims representative investigating whether coverage
applies to a new claim. To help ensure that he considers every
facet of the policy before determining coverage, he might use
Select one:
A. The CARD method.
B. The CARE method.
C. The DICE method.
D. The DARE method. - ANSWER-C. The DICE method.
Mitsuki was severely injured when the safety latch on an
amusement park ride failed and she was thrown from the ride. In
her lawsuit with the amusement park, Mitsuki was awarded
payment for pain and suffering, emotional distress, disfigurement,
and loss of earnings. Which one of Mitsuki's awards is considered
special damages?
Select one:
A. Loss of earnings
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B. Emotional distress
C. Pain and suffering
D. Disfigurement - ANSWER-A. Loss of earnings
Loss of earnings, medical bills, and lost property payments are all
considered special damages.
Although most policies are occurrence forms, covering claims that
occur during the policy period, some are claims-made forms.
Which one of the following types of loss is most likely to involve a
claims-made form?
Select one:
A. An automotive collision claim.
B. A homeowners liability claim due to a slip and fall.
C. A homeowners claim due to storm damage.
D. A medical malpractice claim. - ANSWER-D. A medical
malpractice claim.
Claims-made forms are most often used for environmental,
medical malpractice and directors and officers' policies.
