Regarding insurers and risk managers internal data

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Reference no: EM132159672

1. A project team is creating a new product for the personal insurance market. They are referring to demographic data to determine the territories that would be the best to introduce it. What kind of data would be categorized as?

A. Structured external data.

B. Structured internal data.

C. Unstructured external data.

D. Unstructured internal data.

2. What is correct regarding insurers' and risk managers' internal data?

A. Insurers and risk managers have traditionally used all their internal data.

B. Insurers and risk managers report all their internal data to regulatory agencies.

C. Insurers and risk managers are not required to report their internal data.

D. Insurers and risk managers have vast quantities of internal data they have not used.

3. What is a legal and regulatory concern of mass information from social media?

A. Fraud.

B. Privacy.

C. Veracity.

D. Volume.

4. An insurance company is using social media to confirm if an insured is committing fraud. They turn to the person’s social media. What kind of data type is that?

A. Structured external.

B. Structured internal.

C. Unstructured external.

D. Unstructured internal.

5. What differentiates big data from traditional data?

A. Structure.

B. Velocity.

C. Privacy.

D. Fraud.

6. A predictive approach to data analytics involves...

A. Providing information to solve a particular problem.

B. Providing a method to be used repeatedly to provide information.

C. Providing sensors that predict accidents.

D. Providing a computer program to gather information from the Internet.

7. Insurers process_________ of their available structured data.

A. A low percentage.

B. A medium percentage.

C. A high percentage.

D. A variable percentage.

8. What is an example where both insurers and risk managers can use data science to improve their results through data-driven decision making?

A. Discovering new relationships in data.

B. Determining prior year losses at a particular location.

C. Providing human analysis of data.

D. Using industry data in addition to the organization's own data.

Reference no: EM132159672

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