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IASSC Exam ICYB Topic 1 Question 67 Discussion

Actual exam question for IASSC's ICYB exam
Question #: 67
Topic #: 1
[All ICYB Questions]

A Belt has determined that the insurance claim form needn't be reviewed by accounting thereby improving the number of claims a processer can handle. According to Cost of Poor Quality (COPQ) definitions RTY improvement would be considered _______________.

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Suggested Answer: A

Contribute your Thoughts:

Lisbeth
17 days ago
I'm going to have to disagree with my fellow candidates. This is clearly a case of A) Downsizing savings. By eliminating the accounting review, they're essentially downsizing that department. Boom, mic drop.
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Armando
21 days ago
I'm going to have to go with C) Soft savings. Anything that's not a direct reduction in labor or materials is usually considered a soft saving. Although, I guess you could argue it's a hard saving since it's reducing the workload. I'm just going to go with my gut on this one.
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Cecilia
3 days ago
I think C) Soft savings makes sense in this case.
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Gennie
25 days ago
As an accountant, I'd have to go with D) Hard savings. Anything that improves the efficiency of a process and reduces costs should be considered a hard saving, not just a fluffy 'soft' one.
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Blair
1 months ago
Hmm, I'm not so sure. Couldn't this also be considered D) Hard savings since it's reducing the overall cost of processing claims? I'll have to think this one through a bit more.
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Rodney
21 days ago
Let's look into it further to make sure we understand the concept correctly.
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Amber
21 days ago
Maybe it's a combination of both Hard savings and Soft savings.
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Tamera
23 days ago
I agree, it seems like it would fall under the category of Hard savings.
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Refugia
24 days ago
I see your point, but I still think D) Hard savings makes more sense.
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Audra
28 days ago
I think it could be D) Hard savings because it's reducing costs.
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Zena
28 days ago
But wouldn't it also be C) Soft savings since it's improving efficiency?
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Ronnie
29 days ago
I think it could be D) Hard savings because it's reducing costs.
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Valda
1 months ago
I think the answer is C) Soft savings. Streamlining the insurance claim review process sounds like a process improvement that would reduce costs without directly adding to the bottom line.
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Thora
2 months ago
But wouldn't it also result in soft savings since it improves efficiency?
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Lucina
2 months ago
I agree with Minna, improving RTY would lead to hard savings.
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Minna
2 months ago
I think the answer is D) Hard savings.
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