AIC 300 CLAIMS IN AN EVOLVING WORLD EXAM WITH REVISED SOLUTIONS
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AIC 300 CLAIMS IN AN EVOLVING WORLD
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AIC 300 CLAIMS IN AN EVOLVING WORLD
AIC 300 CLAIMS IN AN EVOLVING WORLD EXAM WITH REVISED SOLUTIONS
Which one of the following elements of a policy can include coverage that is otherwise excluded, exclude coverage that is otherwise included, or add or delete insureds?
Select one:
A. An endorsement. B. The declarations. C. An excl...
AIC 300 CLAIMS IN AN EVOLVING
WORLD EXAM WITH REVISED
SOLUTIONS
Which one of the following elements of a policy can include coverage that is otherwise
excluded, exclude coverage that is otherwise included, or add or delete insureds?
Select one:
A. An endorsement.
B. The declarations.
C. An exclusion.
D. The conditions. - Answer-A. An endorsement.
An endorsement can include coverage that is otherwise excluded, exclude coverage
that is otherwise included, or add or delete insureds.
Claims rep Miguel is conducting a settlement with a claimant. He constructs his first
offer so that the claimant will likely find it undesirable. This becomes the basis of
comparison for the second offer that he makes. Miguel understands that people
Select one:
A. Are easier to manipulate with choices.
B. Feel empowered when given a choice.
C. Are naturally suspicious of an initial offer.
D. Will typically accept a second offer. - Answer-B. Feel empowered when given a
choice.
Feel empowered when given a choice. This is the basis of the choicing technique.
Attorney Grace is representing an insurer in a case and is preparing a pretrial motion.
Her argument is that the court has no jurisdiction for the cause of action brought by the
claimant. Grace is preparing a
Select one:
A. Motion for summary judgment.
B. Motion in limine.
C. Motion to dismiss
D. Motion to suppress. - Answer-C. Motion to dismiss.
Correct. Motion to dismiss. This is a request that a court terminate an action because of
settlement, voluntary withdrawal, or procedural defect.
, Correct. Examination under oath is administered by the attorney for the insurer after
notice is issued to appear at the office of the insurer, attorney, or court reporter.
Which one of the following methods of establishing case reserves involves a consensus
among multiple claims reps?
Select one:
A. Expert system method
B. Average value method
C. Formula method
D. Roundtable method - Answer-D. Roundtable method
Correct. With the roundtable method, a consensus reserve figure may be reached
following evaluation and discussion among claims reps.
Maja handled a large liability claim that settled above the policy limits. The insured is
now charging the claim was handled in bad faith. During their investigation of the bad-
faith claim, Maja and defense counsel discovered that the claimant had received the
payment from the insurer, but not the amount above the policy limits that was to come
from the insured's assets. Which one of the following defenses would Maja's defense
most likely invoke?
Select one:
A. Advice of counsel
B. Insured's collusion with claimant
C. Debatable reasonable basis
D. Contributory negligence - Answer-B. Insured's collusion with claimant
Insured's collusion with claimant. Discovering collusion between the insured and
claimant, such as a claimant agreeing not to collect a judgment from the insured's
assets, can lead to dismissal of a bad-faith claim.
An insurer that finds it economically impractical to establish a claims office in a given
state is likely to use which one of the following to perform the claims handling function?
Select one:
A. Public adjusters
B. Third-party administrators
C. Independent adjusters
D. Producers - Answer-C. Independent adjusters
Correct. Insurers may contract with independent adjusters to handle claims in strategic
locations.
In her investigations into fraudulent claims, Laura uses information about the driver's
history and driving habits to determine factors such as speed, acceleration, and
location. Laura is using
Select one:
A. Telematics.
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