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AINS 103 ASSESSMENT TEST QUESTIONS WITH CORRECT ANSWERS
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AINS 103 ASSESSMENT TEST QUESTIONS WITH CORRECT ANSWERS
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AINS 103 ASSESSMENT TESTQUESTIONS WITH CORRECT ANSWERS
With advancements in technology, underwriting data is becoming increasingly abundant
and more reliable. These technological advancements changed underwriting in which
one of the following ways? - Answer-More insurers are turning to automated systems.
In an effort to control its loss exposures, Furlong Distributing uses a network of objects
that transmit data to each other and to central hubs through the internet. This network is
known as: - Answer-The Internet of Things.
During a mid-year review of one of her large accounts, Annette noticed that the
frequency and severity of auto losses had been trending downward over the past 18
months. When she consulted with the account's risk management team, she learned
that the insured had installed telematics devices in many of their vehicles. This
information would help support Annette's decision to: - Answer-Propose a premium
reduction at renewal time.
Which one of the following is the first step in the enterprise risk management (ERM)
process? - Answer-Scan the environment.
Which one of the following lists the two distinct benefits of enterprise risk management
(ERM)? - Answer-Improved decision making and better communication.
Many insurers have embraced the use of data mining in the claims process because of
its ability to help do which one of the following? - Answer-Detect fraudulent claims.
In which one of the following ways does process mining differs from other data analysis
techniques used by insurers? - Answer-It looks at the entire process rather than one
specific area.
One way in which producers can help clients identify supply chain risk is through: -
Answer-The use of flowcharts.
Erik is a liability claims representative. He became suspicious of a slip and fall claim that
he was handling, because the claimant kept pushing for a quick settlement despite
having little documentation for the medical expenses being claimed. Erik referred the
claim to the insurer's special investigation unit (SIU). The SIU would likely use which
one of the following forms of data analytics to further investigate the claim? - Answer-
The SIU would likely use DATA MINING to identify any connections or relationships with
others with similar injuries, or medical offices involved in similarly suspicious claims.
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