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AIC 300 - Claims In An Evolving World Exam Questions With 100% Correct Answers 2024
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AIC 300 - Claims In An Evolving World Exam Questions With 100% Correct Answers
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AIC 300 - Claims In An Evolving WorldExam Questions With 100% Correct
Answers
Adamimanagesiaiclaimsidepartmentiforianiinsurer.iHeimeasuresitheidep
artment'siperformanceibyibestipractices,iclaimsiaudits,icustomerisatisfa
ctionidata,iandilossiratio.iWhichioneiofiAdam'simeasuresirefersitoiaisyst
emiofiidentifiediinternalipracticesithaticlaimsirepresentativesiperformit
oiproduceisuperioriperformance?
A.iClaimsiaudits
B.iBestipractices
C.iLossiratio
D.iCustomerisatisfactionidatai-iCorrectiAnswer-B.iBestipractices
Bestipracticesigenerallyirefersitoiaisystemiofiidentifiediinternalipractices
ithatiareisharediwithiclaimsirepsiandiproduceisuperioriperformance.
DaJuan,iaiclaimsirepresentative,isetsiailowicaseireserveiforiaiseeminglyis
impleiclaim.iAifewiweeksilateriitibecomesiapparentithatitheiinitialireserv
eiwasitooilow,iandiheiincreasesiitiiniorderitoiissueipayments.iMoreibillsir
elateditoitheiclaimiarriveiaifewimonthsilater,iandiheiincreasesitheireserv
eiagain.iThisiprocessiisiknownias
,Selectione:
A.iReadjusting.
B.iStairstepping
C.iReopening.
D.iIncrementalireserving.i-iCorrectiAnswer-B.iStairstepping.
Correct.iTheiprocessiofirepeatedlyiincreasingitheireserveiforiaiclaimiisical
ledistairstepping.
Oliviaiisicarefulitoikeepipropericlaimistatusinotesiwhenisheihandlesiaiclai
m.iForiexample,isheimakesisureitoionlyiincludeineutral,iobjectiveicomm
entsiaboutitheipartiesiinvolved.iThisiisibecauseiclaiminotes
Selectione:
A.iAreipotentiallyidiscoverableiiniaitrial.
B.iContinueiforiasilongiasitheiclaimiisiopen.
C.iPresentiaichronologyiofitheilifeiofitheiclaim.
D.iMustibeiableitoispeakiforithemselves.i-iCorrectiAnswer-
A.iAreipotentiallyidiscoverableiiniaitrial.
Correct.iAreipotentiallyidiscoverableiiniaitrial.iSeeminglyiinnocuousicom
mentsicanibeidevastatingiwhenireaditoiaijury.
Ciaraiisigoingitoicollegeiwithitheigoaliofiworkingiasiaidataiscientistiforianii
nsurer.iSheiwillineediaistrongifoundationiinimathematicsiandistatistics,ic
, omputeriprogramming,idomainiknowledge,iandidataiscience.iWhichion
eiofiCiara'siskillsiwillirequireiheritoiunderstanditheiinsuranceiprofessioni
toiwhichitheidataiisibeingiapplied?
Selectione:
A.iMathematicsiandistatistics
B.iDataiscience
C.iComputeriprogramming
D.iDomainiknowledgei-iCorrectiAnswer-Domainiknowledgei
...isitheiunderstandingiofitheidiscipline,iprofession,ioriactivityitoiwhichit
heidataiisibeingiapplied.
rinihelpsiheriemployer,iaimulti-
lineiinsurer,itoidetermineiactualiexposureiandipremiumiforicoverage.iSh
eidoesithisibyiconductingidetailediexaminationsiofipolicyholderioperati
ons,irecords,iandiaccounting.iEriniisia(n)
Selectione:
A.iUnderwriter
B.iPremiumiauditor.
C.iClaimsiadjuster.
D.iProducer.i-iCorrectiAnswer-Premiumiauditor.i
Premiumiauditorsiprovideiinventoryivalues,icontractors'iequipmentilist
s,iandiotherifactsithatiareiimportantitoitheiclaimsifunction.
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