AIDA 181 Latest - and Insurance Exam | Questions and Verified Ans...

AIDA 181 (Latest 2024 / 2025 Update) Big Data Analytics for Risk and Insurance Exam | Questions and Verified Answers | 100% Correct | Grade A

Question:

Computer output simulating human reasoning best describes which one of the following?

Select one:

• Artificial intelligence
• Machine learning
• Deep learning
• Chatbots

Answer:

A

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Question:

Annette is a claims adjuster with Midwestern Insurance (MI). MI recently invested in and established robotic process automation (RPA) in many of its routine repetitive tasks in its claims department. Annette is discovering that her role may be changing in which one of the following ways?

Select one:

• Annette will assume responsibility for claims that call for empathy to meet

the emotional needs of insureds and claims.

• MI has decided the large-scale process reengineering effort is worth it so

Annette can have more customer-facing opportunities.

• Annette's potential for human fallibility, and therefore MI's operational

risk, is heightened by the effects of RPA systems.

• Annette still does most of these same tasks as MI has discovered she does

them less expensively.

Answer:

A

Question:

Which one of the following statements is true regarding smart operations?

Select one:

• Smart operations are very gradually making their way into the field of risk

management.

• Applying algorithms to big data generates the information underlying

smart operations.

• The preventive analytics that lie at the heart of smart operations are based

on historical data. 2 / 4

• Smart operations are limited by the amount of data that they can gather

and process.

Answer:

B

Question:

Which one of the following emerging technologies has led to major advances in the field of automotive safety and the development of automated vehicles?

Select one:

• Artificial intelligence
• Wireless sensor networks
• Computer vision
• Drones

Answer:

C

Question:

Which one of the following is particularly useful in vacant or temporarily unoccupied buildings?

Select one:

• Temperature sensors
• Motion sensors
• Power consumption sensors 3 / 4

• Light sensors

Answer:

A

Question:

Personal lines insurers are investigating ways to incorporate discounts for homeowners insurance policies based on homeowners' use of which one of the following?

Select one:

• Smart home devices
• Loss ratios
• Classification analysis
• Predictive modeling

Answer:

A

Question:

Three Hills Insurance (THI) is a regional insurer. The profitability of its homeowners book has been declining for several years. In the past, THI has been able to maintain profitability by using traditional rating variables and implementing flat rate increases across the entire book when necessary. It has been suggested that THI use machine learning to segment its homeowners book. Based on its relatively small size, management does not believe that it has sufficient data available to benefit from machine learning. Which one of

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