AIC 300 EXAM ACTUAL 2025/2026 CORRECTLY ANSWERED

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AIC 300 EXAM ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS Accuracy - Answer -In model performance evaluation, a model's correct predictions divided by its total predictions Actuary - Answer -A person who uses mathematical methods to analyze insurance data for various purposes, such as to develop insurance rates or set claim reserves Algorithm - Answer -An operational sequence used to solve mathematical problems and to create computer programs Allegation - Answer -A claim made in the complaint by the plaintiff, specifying what the plaintiff expects to prove to obtain a judgement against the defendant Average value method - Answer -A case reserving method that establishes a predetermined dollar amount of reserve for each claim as it is reported Big data - Answer -Sets of data that are too large to be gathered and analyzed by traditional methods Blockchain - Answer -A distributed digital ledger that facilitates secure transactions without the need for a third party Claims representative - Answer -A person responsible for investigating, evaluating, and settling claims Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: tutorjean01@gmail.com Classification tree - Answer -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 - Answer -A clause that required the insured to carry insurance equal to at least a specified percentage of the insured property's value Combination of nodes - Answer -A representation of data attributes in a classification tree Comparative negligence - Answer -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 Compensatory damages - Answer -A payment awarded by a court to reimburse a victim for actual harm Complaint - Answer -The allegations made by a plaintiff in a lawsuit Complex claim - Answer -A claim that contains one or more characteristics that cause it to cost more than the average claim Concealment - Answer -An intentional failure to disclose a material fact Contributory Negligence - Answer -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 Standard Process for Data Mining (CRISP DM) - Answer -An accepted standard for the steps in any data mining process used to provide business solutions Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: tutorjean01@gmail.com