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Business & FinanceAdminmedium26% of exam part

The Lake Wales office receives this potential claim: third-party property damage is alleged. Which administrative record should be opened?

Correct Answer

D) liability claim record

Claim administration begins with a documented incident or notice record and supporting evidence.

Answer Options
A
check-signing matrix
B
supplier statement
C
submittal schedule
D
liability claim record

Why This Is the Correct Answer

Claim administration begins with a documented incident or notice record and supporting evidence.

Why the Other Options Are Wrong

Option A: check-signing matrix

check-signing matrix skips the written authority, scope, price, notice, or release control needed for claim administration.

Option B: supplier statement

supplier statement skips the written authority, scope, price, notice, or release control needed for claim administration.

Option C: submittal schedule

submittal schedule skips the written authority, scope, price, notice, or release control needed for claim administration.

Memory Technique

When begins clashes with documented, let the contract speak before Risk Administrator.

Reference Hint

Open-book path: tab Contractor's Manual, 2025 to Business Administration, Insurance Claims and Incident Records; use the stated business record or control rule to verify the answer.

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