AIC 30 - Assignment 3 Practice Exam Questions And Answers.
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Module
AIC.
Institution
AIC.
AIC 30 - Assignment 3 Practice Exam Questions And Answers.
Reserve adequacy and accuracy are important for supporting an insurer's continued solvency and - CORRECT ANSWER Capacity
Individual case method - CORRECT ANSWER A method of setting reserves based on the claim's circumstances and the...
AIC 30 - Assignment 3 Practice Exam
Questions And Answers.
Reserve adequacy and accuracy are important for supporting an insurer's continued solvency and -
CORRECT ANSWER Capacity
Individual case method - CORRECT ANSWER A method of setting reserves based on the claim's
circumstances and the claim representative's experience in handling similar claims
Hector is an experienced workers compensation claim representative for Great States Insurance
Company. Hector considers the ratio between medical costs and indemnity when setting the reserves on
his workers compensation claims. This is known as the - CORRECT ANSWER Formula method
Ron was investigating an automobile accident and took a statement from the insured. Ron asked
questions such as "The light was green wasn't it?" and "You were already through the turn when hit?".
These questions would show the investigation to contain which one of the following elements? -
CORRECT ANSWER Bias
An examination under oath (EUO) is a valuable tool to use when - CORRECT ANSWER An insured is
suspected of submitting a fraudulent claim
Which one of the following are included on a notice of loss form? - CORRECT ANSWER Agency
The first step in confirming coverage is - CORRECT ANSWER Matching the information on the loss notice
to the relevant policy
For reference and advice on how to safely handle contact situations for any hazardous materials that
could be present in an auto body shop, a claim representative can request which one of the following
from the auto body shop? - CORRECT ANSWER A Material Safety Data Sheet
Business rule engines - CORRECT ANSWER An investigative tool a claim representative uses to analyze
claims for fraud indicators or coverage issues and then refers the claim to the appropriate party for a
response
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