AIC 300 EXAM PACKAGE DEAL QUESTIONS & ANSWERS RATED A+

Hanna is in IT and works on data analytics projects for an insurer. These projects involve analyzing large amounts of data to help underwriting to select risks and price policies. Hanna knows that collaboration between data science, IT, underwriting, and actuary is critical to the success of these...

Which one of the following is correct with respect to the elements of good-faith claim management? - Consistent supervision, thorough training, and manageable caseloads help ensure that claim representatives are able to handle claims in good faith. Ciara is going to college with the goal of worki...

Antonia has a general liability policy with a self-insured retention of $50,000. The policy has an occurrence limit of $250,000 and an aggregate limit of $500,000. She had submitted one prior claim this policy term for which $100,000 was paid by the insurer. How much will Antonia's insurer pay on...

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 ...

Identified by studying an insurer's own performance or the performance of successful insurers - Best practices A representative often hired by the insured to protect their interests if a claim is complex or if settlement negotiations are not progressing with the insurer. - Public adjuster _____...

Insurers and claim representatives must keep the promises specified in insurance policies, as well as those created by the law. In insurance transactions, the insured pays a premium for the insurer's promise to A. Handle claims in good faith. B. Comply with federal insurance laws. C. Compete f...

Federal Rules of Civil Procedure - A set of rules established to ensure that civil actions and procedures move through the United States district courts as quickly as possible Expert System method - A method of setting reserves with a software application that estimates losses and loss adjustment...

classification tree parts - root node: first node in a classification tree leaf nodes: terminal node that is used to classify an instance recursively: successfully applying a model training data: used to train a predictive model, has known values holdout data: existing data not used for training...