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Guidewire Policy Center Professional Exam 2024-2025. Questions & Correct Answers. Graded A, Exams of Computer Science

University of RoehamptonComputer Science

Guidewire Policy Center Professional Exam 2024-2025. Questions and Correct Answers. Graded A

Typology: Exams

2024/2025

Available from 02/06/2025

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Guidewire Policy Center Professional Exam
2024-2025. Questions and Correct Answers.
Graded A
2 Ways to create documents โ€“ ANS
1. Upload an electronic file to the Document Management System
2. Create a new doc using a PC template, creating a local copy on the
Document Production system, ultimately uploaded to the Document
Management System
3 levels of assignment for external users โ€“ ANS
1. fully restricted - only access to their own org
2. protect internal - can be assigned producer codes from any external
org
3. allow internal - allow access to internal or external orgs
3 statuses of policies getting renewed โ€“ ANS Renewed
Not Taken
Non-renewed
4 types of info in a security dictionary โ€“ ANS A series of HTML pages
documenting roles and permissions for the application
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Download Guidewire Policy Center Professional Exam 2024-2025. Questions & Correct Answers. Graded A and more Exams Computer Science in PDF only on Docsity!

Guidewire Policy Center Professional Exam

2024-2025. Questions and Correct Answers.

Graded A

2 Ways to create documents โ€“ ANS

  1. Upload an electronic file to the Document Management System
  2. Create a new doc using a PC template, creating a local copy on the Document Production system, ultimately uploaded to the Document Management System 3 levels of assignment for external users โ€“ ANS
  3. fully restricted - only access to their own org
  4. protect internal - can be assigned producer codes from any external org
  5. allow internal - allow access to internal or external orgs 3 statuses of policies getting renewed โ€“ ANS Renewed Not Taken Non-renewed 4 types of info in a security dictionary โ€“ ANS A series of HTML pages documenting roles and permissions for the application
  1. Application permission keys
  2. Pages (in UI)
  3. System Permissions
  4. Roles A Policy Line contains: (5) โ€“ ANS
  5. Exclusions
  6. Conditions
  7. Modifiers
  8. Coverage
  9. Forms Actions related to a Contingency (3) โ€“ ANS
  10. Changing the policy
  11. Cancelling the policy
  12. Cancelling and rewriting the policy Activity Lifecycle (5) โ€“ ANS
  13. In Progress - New/Updated (Star icon)
  14. In Progress (viewed) - Normal (Star disappears)
  15. Overdue - Due date turns red
  16. Escalated - exclamation appears
  1. Breaking down features into user stories
  2. Prioritizing and Planning user stories
  3. Analyzing "what if" scenarios or edge case management
  4. Identifying impacts to other systems
  5. Writing testable requirements Best practices in documenting functional requirements (5) - ANS1. Create testable requirements
  6. Never document a requirement in more than 1 place
  7. Document only what you want the system to do (not what you don't want)
  8. Keep track of all stories associated with a feature
  9. Always review a requirement with the team prior to implementation Blocking point - ANSStops the progress of a job until an issue is approved (some issues can be informational (non-blocking) Checking set - ANSA point in the job where issues can be raised (Pre- quote, Bind, Pre-issuance) Clauses and subclauses - ANSThese are groups of coverages A clause can have 1 or 0 parents clauses

A clause can have multiple subclauses of multiple levels Color codes in sotry cards - ANSDark Green - Coverage attributes Light Green - Coverage Term Attributes Lightest green - Coverage Term Option attributes Components of UW authority - ANSUW Issue - a specific occurance on a policy transaction where an UW condition was true. Created when a condition gives undesirable results based on data on the policy or account. These can stop jobs until approved UW Rule - Describes how the policy transaction is affected by the UW issues and how issues can be approved. Rules include conditions which will raise an UW issue Authority Grant - The ability to approve UW issues and to what degree Authority profile - a group of authorities that can be given to a user, allowing the user to approve UW issues Coverage Pattern Attributes - ANSDetermines whether or not each relevant coverage is offered on a policy and whether the user can accept or decline Coverage Table - ANSEach coverage is associated with a coverage lookup table storing availability criteria for coverages

Document Production - ANSCreate a draft document by merging Template with Field Values Endorsement numbers - ANSIndicates the order that a form was added to the policy (apply to a specific policy period (sequential starting at 1) Examples of PC functional requirements (6) - ANS1. Product - coverages and coverage terms

  1. Rating - Costs for coverages
  2. UI - screens and fields
  3. UW issues - business rules within business framework
  4. Validation rules - screen edits within the business rules framework
  5. Roles and Permissions - collection of granular tasks in PC mapped to a job function or title External systems PC can be integrated with (8) - ANS1. Broker Management System
  6. Customer Communication System
  7. Reporting System
  8. Esignature system
  9. Document Production
  10. Contact Management
  11. Rating Engine System
  1. Authentication Final Audit Steps (5) - ANS1. Schedule Final Audit
  2. Audit task batch process start audit job before policy expiration
  3. Enter Audit basis
  4. Calculate premium and complete audit
  5. Billing system notified to make premium adjustments Forms vs Documents - ANS1. Forms contain legal info, documents contain relevant account, policy, or job info
  6. Forms are part of the policy contract, documents are not Generic Schedule - ANSdata model that stores schedule info in a generic way can be easily created and edited in Product Designer and can be defined in Product Model XML files How are forms created? - ANSForm Inference - PC generates forms based on policy details (this logic is defined by Form Patterns) Form Pattern - defines metadata about a form and the inference logic (the define valid forms the system can infer on a policy)

The can have access to ao build groups, org and permissions for their own orgs but not others How to override an automatic renewal - ANSPre-configure renewal directions - this puts the expiring term into either automatic nonrenewal or manual renewal Info you need to write Forms requirements (9) - ANS1. Form number

  1. Edition
  2. Name on the form
  3. Transactions for which the form applies
  4. Availability
  5. Start and End dates
  6. UW company
  7. Inference for the form
  8. Specific details about printing Interrupt renewal - If you start a renewal and then change the existing policy, what happens? - ANSIf the renewal is unbound, the policy change can be added to the renewal Jobs can be started in 3 ways - ANS1. By users through Actions menu
  9. External systems through API's
  1. PC batch processes Keep in mind when defining UW rules (4) - ANS1. Are you making a change to an existing rule or creating a new rule?
  2. How would you describe the rule in terms of values (age, cost, etc.)
  3. On which jobs should the issue be detected?
  4. What LOB's does the issue apply to? This should be documented in the UW Issues story card, in the UW Issues tab Keyboard shortcuts in studio for PCF - ANS1. Search everywhere in studio - Double Shift
  5. Open current UI screen in studio - Alt + Shift + E
  6. Navigate File - Ctrl + Shift +N List of Policy Lines (8) - ANS1. Personal Auto
  7. Commercial Auto
  8. General Liability
  9. Homeowners
  10. Business Owners
  11. Inland Marine
  12. Commercial Property
  1. Integrations Also split into:
  2. Products
  3. Processes
  4. Content Policy File Contains (4) - ANS1. Contact
  5. Location
  6. Form
  7. Policy (contains coverages, coverables, coverage terms, and premium) Policy File details (on left hand side bar) (11) - ANS1. Summary - concise info about policy file
  8. Billing - view overall balances for policy periods
  9. Contacts - list all contacts associated with a policy
  10. Participants - lists users interacting with a policy by role
  11. Policy Transaction - displays summary info about all policy transactions that have occurred on the policy
  12. Notes - view and search notes related to the policy
  13. Documents - view and search documents related to the policy
  1. Risk Analysis - issues that may affect the policy (UW issues, claims, prior policies, prior losses, contingencies)
  2. Reinsurance - insurance risk transferred to another insurance company to all or part of the liability
  3. History - view and search historical events pertaining to policy
  4. Financial Transactions - an internal tool used for rating while developing the application (only people with the "InternalTool" permission can see this screen Preemption - ANS2 transactions are initiated from the same base period
  • a transaction starts while another is in progress The first job that finishes/gets bound "wins out" and the losing job has to be modified to handle the preemption Premium Audit Methods - ANS1. Physical
  1. Phone
  2. Estimate
  3. Voluntary Premium Audit Roles - ANS1. Premium Auditor - may edit the audit summary and details
  4. Audit Examiner - verifies the accuracy of the audits, calculates the premium, completes the audit
  1. Often manually created, can only be deleted manually or through API, can't be approved
  2. PErsists with the policy, resulting UW issues can be approved Recommended Practice for mapping coverages - ANS1. When mapping, put coverages that will appear together or automatically in the same category
  3. When rendering on the UI, put commonly accepted coverages on "Included Coverages" and less commonly accepted coverages as "Additional Coverages" Requirements to designing a product (required fields) (7) - ANS1. Product Type
  4. Product Name
  5. LOB
  6. Product Account Types
  7. Available Jurisdictions
  8. Policy Terms
  9. Default Policy Term Rewites - ANSYou must cancel a policy to rewrite it Full term rewrite (discards the original policy and policy term) Mid term rewrite (retains part of the original policy)

Rules for groups (5) - ANS1. Users can belong to more than 1 group

  1. An internal user can be assigned a producer code for any org
  2. External users must be associated with an org
  3. If Producer Code Security is set to "Yes" the user can only use their role permissions against policies with a matching producer code, even if they have a larger set of permissions available through their roles
  4. "Misassigned" category is for jobs assigned to groups but to an invalid user. Activities and jobs can be mass reassigned. Samples of forms (5) (4) - ANS1. declaration sheets - a summary of all exposures and coverages
  5. Base forms - attached regardless of what coverages or exposure units are selected
  6. Additional coverage forms - add additional coverage
  7. Exclusion forms - limit forms
  8. Manuscript forms - blank forms with space for free text High level:
  9. Policy forms form PC
  10. Invoices from BC
  11. Delinquency Letters from BC

Steps to creating a submission/policy (12) - ANS1. Offering - allows the insurers to define product types based on existing base product definitions

  1. Prequalification - answer basic questions to reveal if the applicant qualifies for certain coverages, or could reveal UW issues
  2. Policy info - captures basic info
  3. UW - large insurers license subsidiaries to do UW based on state requirements
  4. Coverages - ex. for PA - collision, liability
  5. Modifiers - increases or decreases in coverages based on certain factors
  6. Risk Analysis - where UW concerns show up. UW can review or maintain any issues
  7. Policy Review - can see full application summary
  8. Quote - all policy info is sent to a rating engine and returns a quote
  9. Forms - become available at this point
  10. Payments - payments screen looks in depth at payment options to consider payment plans
  11. Bind and Issue - coverage becomes legally binding with Bind even without official documentation. Issues means the documents are getting issued Supporting information under an Account (11) - ANS1. Summary
  12. Contacts
  13. Location
  1. Participants
  2. Transactions
  3. Submission Manager
  4. Policies and UW files
  5. Documents
  6. History
  7. Notes
  8. Related Accounts Things to consider when gathering requirements for coverages (6) - ANS1. What is the coverable?
  9. In what category is the coverage?
  10. Where is the coverage available?
  11. Does the coverage exist on the policy?
  12. Is the coverage automatically added, manually added, or can it be defined?
  13. What are the terms of the coverage? Types of activities - ANS1. General Activities - a task to do, no authority invovled
  14. UW Review activity - Requests UW to review UW Issues