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AIC 300 – CLAIMS IN AN EVOLVING WORLD EXAM (ACTUAL EXAM) WITH QUESTIONS WITH VERY ELABORATED ANSWERS CORRECTRY WELL ORGANIZED LATEST 2024 – 2025 ALREADY GRADED A+ $12.99
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AIC 300 – CLAIMS IN AN EVOLVING WORLD EXAM (ACTUAL EXAM) WITH QUESTIONS WITH VERY ELABORATED ANSWERS CORRECTRY WELL ORGANIZED LATEST 2024 – 2025 ALREADY GRADED A+
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AIC 300 – CLAIMS IN AN EVOLVING WORLD
Institution
AIC 300 – CLAIMS IN AN EVOLVING WORLD
AIC 300 – CLAIMS IN AN EVOLVING WORLD EXAM (ACTUAL EXAM) WITH QUESTIONS WITH VERY ELABORATED ANSWERS CORRECTRY WELL ORGANIZED LATEST 2024 – 2025 ALREADY GRADED A+
AIC 300 – CLAIMS IN AN EVOLVING WORLD
EXAM (ACTUAL EXAM) WITH QUESTIONS
WITH VERY ELABORATED ANSWERS
CORRECTRY WELL ORGANIZED LATEST
2024 – 2025 ALREADY GRADED A+
The NAIC model act specifies that its provisions regarding bad-faith claims are to
be enforced by state insurance departments. - ANSWERS-The NAIC model act
specifies that its provisions regarding bad-faith claims are to be enforced by
Select one:
A. State insurance departments.
B. The Federal Trade Commission.
C. NAIC personnel.
D. Insurer personnel, on the honor system.
A. Objective. - ANSWERS-Conor is a claims representative whose supervisor is
reviewing his claim status notes. The supervisor took exception with one of
Conor's notes, which read, "The claimant is obviously lying because his account of
,how the accident happened keeps changing." The supervisor should advise Conor
that this statement is inappropriate because it is not
Select one:
A. Objective.
B. Clear.
C. Concise.
D. Accurate.
C. Making concessions cautiously.
D. An insured's negotiations with the insurer on a complex claim are not going
well.
If a claim is complex, or if settlement negotiations are not progressing with the
insurer, the insured may hire a public adjuster to protect his or her interests. -
ANSWERS-In which one of the following scenarios is a public adjuster most likely
to become involved?
Select one:
A. An insurer finds it financially unfeasible to hire its own claims staff in a given
state.
B. An insured is unable to afford legal representation to contest a claim.
C. A catastrophic disaster strikes, involving damage to many properties.
D. An insured's negotiations with the insurer on a complex claim are not going
well.
,B. TPAs handle claims, keep claims records, and perform statistical analyses. -
ANSWERS-Which one of the following statements regarding third-party
administrators (TPAs) is most accurate?
Select one:
A. TPAs are typically used by businesses that have chosen not to self-insure.
B. TPAs handle claims, keep claims records, and perform statistical analyses.
C. TPAs are generally found in an insurer's claims department.
D. TPAs are employed only by independent adjusting firms.
A. Proper releases taken
Proper releases taken is a qualitative audit factor; the others are quantitative. -
ANSWERS-Hugo is conducting an audit of a branch office claims operation. He is
evaluating timeliness of reports, number of files opened, proper releases taken,
and accuracy of data entry. Which one of Hugo's metrics is a qualitative audit
factor?
Select one:
A. Proper releases taken
B. Timeliness of reports
C. Number of files opened
D. Accuracy of data entry
D. Line underwriter.
, Line underwriter. This describes the duties of a line underwriter, rather than a
staff underwriter. There is not enough information to determine which line of
business is being written. A public underwriter does not exist. Line underwriters
evaluate new submissions and perform renewal underwriting, usually by working
directly with insurance producers and applicants. Staff underwriters, meanwhile,
manage risk selection by working with line underwriters and coordinating
decisions about products, pricing and guidelines. - ANSWERS-Aaron works for a
multi-line insurer. He works with insurance producers and applicants to evaluate
new business submissions and conduct renewal underwriting. Aaron is a
Select one:
A. Staff underwriter.
B. Public underwriter.
C. Personal lines underwriter.
D. Line underwriter.
D. Listening.
B. By certified mail with a return receipt requested.
Some will also send a copy via regular mail in case the certified letter is not
accepted. - ANSWERS-Insurers usually send denial letters
Select one:
A. By email to ensure prompt receipt by the insured.
B. By certified mail with a return receipt requested.
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