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AIC 300 - Claims in an Evolving World Exam Questions with 100% Correct Answers | Verified | Latest Update $13.99   Add to cart

Exam (elaborations)

AIC 300 - Claims in an Evolving World Exam Questions with 100% Correct Answers | Verified | Latest Update

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AIC 300 - Claims in an Evolving World Exam Questions with 100% Correct Answers | Verified | Latest Update

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  • October 21, 2024
  • 57
  • 2024/2025
  • Exam (elaborations)
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  • AIC 300 - Claims in an Evolving World
  • AIC 300 - Claims in an Evolving World
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AIC 300 - Claims in an Evolving World
Exam Questions with 100% Correct
Answers | Verified | Latest Update

Insurersiusuallyisendidenialiletters
Selectione:
A.iByiemailitoiensureipromptireceiptibyitheiinsured.
B.iByicertifiedimailiwithiaireturnireceiptirequested.
C.iByiovernighticourier.
D.iByiregisteredimail.i-iCorrectiAnswer-
B.iByicertifiedimailiwithiaireturnireceiptirequested.


Someiwillialsoisendiaicopyiviairegularimailiinicaseitheicertifiediletteriisino
tiaccepted.


Asimethodsioficommunicationievolve,iit'siimportantiforiclaimsiprofessio
nalsitoirememberithatianyiwritteniclaimsicommunicationimayibe
Selectione:
A.iReplacediwithiverbalicommunication.
B.iMisinterpreted.
C.iEditedilater.
D.iSubpoenaed.i-iCorrectiAnswer-D.iSubpoenaed.

,Anyiwritteniclaimsicommunicationimayibeisubpoenaed.


Iniwhichioneiofitheifollowingiscenariosiisiaipubliciadjusterimostilikelyitoi
becomeiinvolved?
Selectione:
A.iAniinsurerifindsiitifinanciallyiunfeasibleitoihireiitsiowniclaimsistaffiiniai
givenistate.
B.iAniinsurediisiunableitoiaffordilegalirepresentationitoicontestiaiclaim.
C.iAicatastrophicidisasteristrikes,iinvolvingidamageitoimanyiproperties.
D.iAniinsured'sinegotiationsiwithitheiinsurerioniaicomplexiclaimiareinoti
goingiwell.i-iCorrectiAnswer-
D.iAniinsured'sinegotiationsiwithitheiinsurerioniaicomplexiclaimiareinoti
goingiwell.


Ifiaiclaimiisicomplex,ioriifisettlementinegotiationsiareinotiprogressingiwi
thitheiinsurer,itheiinsuredimayihireiaipubliciadjusteritoiprotectihisioriheri
interests.


Whichioneiofitheifollowingistatementsiregardingithird-
partyiadministratorsi(TPAs)iisimostiaccurate?
Selectione:
A.iTPAsiareitypicallyiusedibyibusinessesithatihaveichoseninotitoiself-
insure.

,B.iTPAsihandleiclaims,ikeepiclaimsirecords,iandiperformistatisticalianaly
ses.
C.iTPAsiareigenerallyifoundiinianiinsurer'siclaimsidepartment.
D.iTPAsiareiemployedionlyibyiindependentiadjustingifirms.i-
iCorrectiAnswer-

B.iTPAsihandleiclaims,ikeepiclaimsirecords,iandiperformistatisticalianaly
ses.


Hugoiisiconductingianiauditiofiaibranchiofficeiclaimsioperation.iHeiisieval
uatingitimelinessiofireports,inumberiofifilesiopened,iproperireleasesitak
en,iandiaccuracyiofidataientry.iWhichioneiofiHugo'simetricsiisiaiqualitati
veiauditifactor?
Selectione:
A.iProperireleasesitaken
B.iTimelinessiofireports
C.iNumberiofifilesiopened
D.iAccuracyiofidataientryi-iCorrectiAnswer-A.iProperireleasesitaken


Properireleasesitakeniisiaiqualitativeiauditifactor;itheiothersiareiquantit
ative.


Aaroniworksiforiaimulti-
lineiinsurer.iHeiworksiwithiinsuranceiproducersiandiapplicantsitoievalua
teinewibusinessisubmissionsiandiconductirenewaliunderwriting.iAaronii
sia

, Selectione:
A.iStaffiunderwriter.
B.iPubliciunderwriter.
C.iPersonalilinesiunderwriter.
D.iLineiunderwriter.i-iCorrectiAnswer-D.iLineiunderwriter.


Lineiunderwriter.iThisidescribesitheidutiesiofiailineiunderwriter,iratherit
haniaistaffiunderwriter.iThereiisinotienoughiinformationitoidetermineiw
hichilineiofibusinessiisibeingiwritten.iAipubliciunderwriteridoesinotiexist.
iLineiunderwritersievaluateinewisubmissionsiandiperformirenewaliunde

rwriting,iusuallyibyiworkingidirectlyiwithiinsuranceiproducersiandiapplic
ants.iStaffiunderwriters,imeanwhile,imanageiriskiselectionibyiworkingi
withilineiunderwritersiandicoordinatingidecisionsiaboutiproducts,ipricin
giandiguidelines.


Theifirstikeyitoicommunicatingiempatheticallyiasiaiclaimsiprofessionaliis
Selectione:
A.iAicomprehensiveiunderstandingiofirelevantiinsuranceipolicies.
B.iSpeakingicalmlyiandiclearly.
C.iBeingipreparediwithiallidocumentationirelatingitoitheiclaim.
D.iListening.i-iCorrectiAnswer-D.iListening.


Claimsiprofessionalsishouldifirstilistenicarefullyitoiunderstandiwhatithei
claimantiisisaying.

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