ACE ACORD Expert Insurance Standards & Data Exchange 2

Question 1

Which ACORD standard specifically addresses electronic data interchange for personal lines property and casualty insurance?

Accepted Answer

AL3

Answer

AL3 (Agency/Company Interface) is the ACORD standard designed for electronic data interchange in personal lines P&C insurance.

Question 2

In ACORD XML schema design, what does the 'OtherOrDesc' field pattern indicate?

Accepted Answer

An enumeration that allows a custom description when 'Other' is selected

Answer

The 'OtherOrDesc' pattern allows a coded value from an enumeration plus a free-text description field activated when 'Other' is chosen.

Question 3

What is the primary purpose of the ACORD Implementation Guide (IG)?

Accepted Answer

To provide trading partner-specific rules layered on top of the ACORD standard

Answer

An Implementation Guide documents the specific business rules, required fields, and constraints that a particular trading partner applies on top of the base ACORD standard.

Question 4

Which version numbering convention does ACORD use for its XML standards?

Accepted Answer

Major.Minor.Patch (semantic versioning)

Answer

ACORD XML standards follow a Major.Minor versioning scheme where major versions may contain breaking changes and minor versions add backward-compatible features.

Question 5

In ACORD's data governance model, who is responsible for approving changes to the ACORD data dictionary?

Accepted Answer

The ACORD Standards Committee with member input

Answer

The ACORD Standards Committee, composed of member representatives, reviews and approves proposed changes to the ACORD data dictionary through a formal balloting process.

(ACE) ACORD Certified Expert Practice Test

(ACE) ACORD Certified Expert Practice Test

ACE ACORD Expert Insurance Standards & Data Exchange 2