WernerE.Univariate
Reading: BASIC RATEMAKING, Fifth Edition, May 2016, Geoff Werner, FCAS, MAAA & Claudine Modlin, FCAS, MAAA Willis Towers Watson
Appendix E: Univariate Classification Example
Pop Quiz
What happens when the CAS and SOA have a joint meeting? Click for Answer
Study Tips
| Alice's Pro-Tip: Appendix E is mainly for review and extra practice for material covered in chapter 9 of the main part of the Werner. |
Forum You can probably skip this chapter without missing anything. If you don't want to skip, spend 15 minutes looking over the 2-page exhibit (link further down.) It's a good, quick test to see if you have an overall understanding of the pure premium method. If you can understand the exhibit "at a glance" and see where all the different pieces fit, then you're ready to slay th beast.
The exam problem in the BattleTable is also a good review and may take another 15 minutes to solve.
Estimated study time: 30 minutes
BattleTable
Based on past exams, the main things you need to know (in rough order of importance) are:
- The exam problems below are for review if you'd like to attempt them.
reference part (a) part (b) part (c) part (d) E (2018.Spring #12) Excel Practice Problems E (2016.Spring #10) territorial relativities
- revenue-neutral changemultivariate methods
- benefits 1
- 1 This answer to this questions is in Pricing - Chapter 10 - Benefits of Multivariate Methods.
In Plain English!
Below is a link to the complete Appendix E from Werner which is only 4 pages long.
- There first 2 pages are just a review of chapter 9 material.
- The last 2 pages show an example of the pure premium method
It might be an idea to spend maybe 15 minutes reviewing the 2-page exhibit just to make sure you have a good overall understanding of the method. Don't spend too long here.
Slay the beast.
POP QUIZ ANSWERS
This is what happens when actuaries stop working and start partying! It's not a pretty sight. :-)
