6: Balancing Ethics and Data Analytics
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CPCU 550 5: Using Data to Stop Losses Before ... AINS 101 Exam Prep Contra
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Millstone Insurance Co. keeps finding errors in its B. Data lineage.
reported auto physical damage loss amounts; some data
reflects the insured's deductible reducing the amount
paid, but other times, the deductible is not taken into
account. Data scientists retrace the data by going back
through the various locations and systems it touched.
They discover that a new employee at a field office was
responsible for data miscoding when claims were first
reported. Millstone discovered the reason for the errors
through
Select one:
A. Meaningful metrics.
B. Data lineage.
C. Acceptability thresholds.
D. Timely data.
After state regulators call into question some of its A. Transparency
underwriting decisions, Insurance Company shares with
those regulators both the data used to reach those
decisions and how it was collected and used. This is an
example of which one of the qualities of ethical data use?
Select one:
A. Transparency
B. Fairness
C. Non-discrimination
D. Protection of intellectual property
, With the growth of algorithms, artificial intelligence and C. The NAIC's Principles of Artificial Intelligence.
machine learning, Greater American Insurance Co. must
ensure that the use of new technologies results in models
that are fair and ethical. To do this, they are most likely to
rely on a combination of unfair trade practices acts and
Select one:
A. Federal insurance law.
B. Data from the Internet of Things.
C. The NAIC's Principles of Artificial Intelligence.
D. Consumer feedback.
Which one of the following categories of data quality C. Accuracy
measures how well data represents true values and the
business information being analyzed?
Select one:
A. Reasonability
B. Validity
C. Accuracy
D. Timeliness
In analyzing claims data for the purpose of rate-setting A. Timeliness
for homeowners policies, Glenn discovers that much of
the data in the sample is more than ten years old. This
calls into question which one of the following data
characteristics?
Select one:
A. Timeliness
B. Lineage
C. Validity
D. Reasonability
A U.S. insurer doing business in the European Union (EU) A. Personal information.
will need to demonstrate, on an ongoing basis, how it
collects, uses, retains, discloses, and destroys
Select one:
A. Personal information.
B. Policy forms.
C. Income statements.
D. Corporate information.
Save
Students also studied
CPCU 550 5: Using Data to Stop Losses Before ... AINS 101 Exam Prep Contra
91 terms 27 terms 378 terms 40 terms
Jonathan_gerdes9 Preview dfaust22 Preview bbiermanrsd Preview man
Millstone Insurance Co. keeps finding errors in its B. Data lineage.
reported auto physical damage loss amounts; some data
reflects the insured's deductible reducing the amount
paid, but other times, the deductible is not taken into
account. Data scientists retrace the data by going back
through the various locations and systems it touched.
They discover that a new employee at a field office was
responsible for data miscoding when claims were first
reported. Millstone discovered the reason for the errors
through
Select one:
A. Meaningful metrics.
B. Data lineage.
C. Acceptability thresholds.
D. Timely data.
After state regulators call into question some of its A. Transparency
underwriting decisions, Insurance Company shares with
those regulators both the data used to reach those
decisions and how it was collected and used. This is an
example of which one of the qualities of ethical data use?
Select one:
A. Transparency
B. Fairness
C. Non-discrimination
D. Protection of intellectual property
, With the growth of algorithms, artificial intelligence and C. The NAIC's Principles of Artificial Intelligence.
machine learning, Greater American Insurance Co. must
ensure that the use of new technologies results in models
that are fair and ethical. To do this, they are most likely to
rely on a combination of unfair trade practices acts and
Select one:
A. Federal insurance law.
B. Data from the Internet of Things.
C. The NAIC's Principles of Artificial Intelligence.
D. Consumer feedback.
Which one of the following categories of data quality C. Accuracy
measures how well data represents true values and the
business information being analyzed?
Select one:
A. Reasonability
B. Validity
C. Accuracy
D. Timeliness
In analyzing claims data for the purpose of rate-setting A. Timeliness
for homeowners policies, Glenn discovers that much of
the data in the sample is more than ten years old. This
calls into question which one of the following data
characteristics?
Select one:
A. Timeliness
B. Lineage
C. Validity
D. Reasonability
A U.S. insurer doing business in the European Union (EU) A. Personal information.
will need to demonstrate, on an ongoing basis, how it
collects, uses, retains, discloses, and destroys
Select one:
A. Personal information.
B. Policy forms.
C. Income statements.
D. Corporate information.
