AIC 300 EXAM GRADED A+
When Mehmet interviews witnesses as part of his claims investigation, he asks different types of questions based on need, such as open-ended, direct, indirect, and leading. Which type of question should Mehmet ask when he wants to set the interviewee at ease and he is look...
AIC 300 EXAM GRADED A+
When Mehmet interviews witnesses as part of his claims investigation, he asks different
types of questions based on need, such as open-ended, direct, indirect, and leading.
Which type of question should Mehmet ask when he wants to set the interviewee at
ease and he is looking for explanation or elaboration of details in the interviewee's own
words? - Answer-Open-ended
In which one of the following scenarios is the right of subrogation most likely to be
employed by the insurer? - Answer-A claims rep discovers that their insured's car
accident was caused by a road contractor who left equipment lying in the travel lanes of
a highway.
To determine whether an insurer typically underreserves or overreserves claims,
actuaries compare the insurer's paid losses to - Answer-The insurer's case reserves.
In the process of assigning a claim, an internal claims handler will often transfer
information to the insurer's standard form, called the - Answer-First notice of loss
(FNOL) form.
One of Juan's responsibilities as a claims representative is to prepare internal reports,
such as preliminary, interim, large loss, and captioned. Which one of the reports Juan
prepares is required for claims with reserves that exceed a specified threshold? -
Answer-Large loss
Mitsuki was severely injured when the safety latch on an amusement park ride failed
and she was thrown from the ride. In her lawsuit with the amusement park, Mitsuki was
awarded payment for pain and suffering, emotional distress, disfigurement, and loss of
earnings. Which one of Mitsuki's awards is considered special damages? - Answer-Loss
of earnings
Andrew is a claims representative investigating whether coverage applies to a new
claim. To help ensure that he considers every facet of the policy before determining
coverage, he might use - Answer-The DICE method.
Although most policies are occurrence forms, covering claims that occur during the
policy period, some are claims-made forms. Which one of the following types of loss is
most likely to involve a claims-made form? - Answer-A medical malpractice claim.
Claims may be paid in any of three ways: by check, by bank transfer or - Answer-By
electronic funds transfer.
, The Office of Foreign Assets Control requires claims payors to check payees against a
database of - Answer-Known terrorists and drug traffickers.
Samuel was seriously injured in a car accident caused by a drunk driver. His settlement
included payments for repairs to his vehicle, medical bills, pain and suffering, and lost
wages. Which one of the payments in Samuel's settlement is considered general
damages? - Answer-Pain and suffering
Claims rep Lily is negotiating a claim settlement with an unrepresented claimant and
wishes to smooth the process. She is matching her demeanor, tone, and mannerisms to
those of the claimant. Lily is using which one of the following negotiation techniques? -
Answer-Using traditional sales techniques
Linnea is an attorney who is preparing to defend an insurer in a workers compensation
case. Discovery produced several documents that are being presented as witnesses
statements, but the witnesses admit in the statements to not actually seeing the
accident. Linnea would like to omit these statements from the proceedings, so she is
filing a - Answer-Motion in limine.
The claims litigation process begins with the receipt of - Answer-A summons and
complaint.
Riko is an experienced settlement negotiator. When negotiating with claimant
representatives, she uses techniques such as timing settlements effectively, enticing a
reasonable demand, making concessions cautiously, and leaning on the evaluation.
She understands that her current claimant is eager to receive money, so she is delaying
the negotiations as long as possible. Which negotiation technique is Riko using? -
Answer-Timing settlements effectively
Chloe is an insurer defense attorney who is preparing a trial strategy. She has
researched a court decision that was made in a similar case and is basing the defense
on that precedent. Chloe is relying on the principle of stare decisis, which is that -
Answer-Lower courts must follow precedents set by higher courts.
Kira, a claims representative, receives a summons and complaint from an insured. In
reviewing the facts, she has doubts that the insured's applicable policy will provide
coverage. She should work with counsel and request a managerial review in order to
issue - Answer-A reservation of rights letter.
Rin works for an insurer designing and using techniques to process large amounts of
data from various sources and providing knowledge based on the analysis of that data.
Rin is a(n) - Answer-Data scientist.
Part of the continuous cycle of data mining is preparing the data to eliminate missing or
inaccurate information. This process is called - Answer-Cleaning
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