AIC 300 Questions And Answers With Verified Updates
11 views 0 purchase
Course
AIC 300
Institution
AIC 300
Motion for summary judgment - A pretrial request asking the court to enter a judgment when no
material facts are in dispute and the moving party is entitled to judgment as a matter of law.
Comparative negligence - A common-law principle that requires both parties to a loss to share the
financial...
AIC 300
Motion for summary judgment - A pretrial request asking the court to enter a judgment when no
material facts are in dispute and the moving party is entitled to judgment as a matter of law.
Comparative negligence - A common-law principle that requires both parties to a loss to share the
financial burden of the bodily injury or property damage according to their respective degrees of fault.
Accuracy - In model performance evaluation, a model's correct predictions divided by its total
predictions.
Actuary - A person who uses mathematical methods to analyze insurance data for various
purposes, such as to develop insurance rates or set claim reserves.
Algorithm - An operational sequence used to solve mathematical problems and to create
computer programs.
Allegation - A claim made in the complaint by the plaintiff, specifying what the plaintiff expects to
prove to obtain a judgment against the defendant.
Average value method - A case reserving method that establishes a predetermined dollar amount
of reserve for each claim as it is reported.
Big data - Sets of data that are too large to be gathered and analyzed by traditional methods.
Blockchain - A distributed digital ledger that facilitates secure transactions without the need for a
third party.
Claims representative - A person responsible for investigating, evaluating, and settling claims.
, Classification tree - A supervised learning technique that uses a structure similar to a tree to
segment data according to known attributes to determine the value of a categorical target variable.
Coinsurance clause - A clause that requires the insured to carry insurance equal to at least a
specified percentage of the insured's property value.
Combination of nodes - A representation of data attributes in a classification tree.
Compensatory damages - A payment awarded by a court to reimburse a victim for actual harm.
Complaint - The allegations made by a plaintiff in a lawsuit.
Complex claim - A claim that contains one or more characteristics that cause it to cost more than
the average claim.
Concealment - An intentional failure to disclose a material fact.
Contributory negligence - A common-law principle that prevents a person who has been harmed
from recovering damages if that person's own negligence contributed in any way to the harm.
Cross-Industry Process for Data Mining (CRISP-DM) - An accepted standard for the steps in any
data mining process used to provide business solutions.
Data mining - The analysis of large amounts of data to find new relationships and patterns that
will assist in developing business solutions.
Data science - An interdisciplinary field involving the design and use of techniques to process very
large amounts of data from a variety of sources and to provide knowledge based on the data.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ACADEMICMATERIALS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
