Difference between revisions of "WernerE.Univariate"
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(Created page with " ==Pop Quiz== ==Keywords== ==BattleTable== Based on past exams, the '''main things''' you need to know ''(in rough order of importance)'' are: * fact A... * fact B... :...") |
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| + | '''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== | ==Pop Quiz== | ||
| + | What happens when the CAS and SOA have a joint meeting? ''<span style="background-color: lightblue; border-radius: 5px;"> [https://www.battleacts5.ca/images/SOA_dancing.png Click for Answer]'' </span> | ||
| − | == | + | ==Study Tips== |
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| + | {| class='wikitable' style="background-color: powderblue;" | ||
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| + | || '''Alice's Pro-Tip''': Appendix E is mainly for review and extra practice for material covered in '''''[[Werner09.RiskClass | chapter 9]]''''' of the main part of the Werner. | ||
| + | |} | ||
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| + | [https://www.battleactsmain.ca/battleacts5.ca/forum5/index.php?p=/categories/wernere-univariate<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>] 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== | ==BattleTable== | ||
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Based on past exams, the '''main things''' you need to know ''(in rough order of importance)'' are: | Based on past exams, the '''main things''' you need to know ''(in rough order of importance)'' are: | ||
| − | * | + | * same as ''[[Werner09.RiskClass#BattleTable | Pricing - Chapter 9 - Risk Classification (Univariate Methods)]]'' |
| − | * | + | |
| + | * ''The exam problems below are for review if you'd like to attempt them.'' | ||
: {| class='wikitable' style='width: 1000px;' | : {| class='wikitable' style='width: 1000px;' | ||
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| − | || [https://www.battleacts5.ca/pdf/Exam_(2018_1-Spring)/(2018_1-Spring)_( | + | || [https://www.battleacts5.ca/pdf/Exam_(2018_1-Spring)/(2018_1-Spring)_(12).pdf <span style='font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 5px; padding: 2px 5px 2px 5px; margin: 5px;'>E</span>] <span style='color: red;'>'''(2018.Spring #12)'''</span> |
| − | || | + | || [[Excel Practice Problems]] |
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| − | || [https://www.battleacts5.ca/pdf/Exam_( | + | || [https://www.battleacts5.ca/pdf/Exam_(2016_1-Spring)/(2016_1-Spring)_(10).pdf <span style='font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 5px; padding: 2px 5px 2px 5px; margin: 5px;'>E</span>] <span style='color: red;'>'''(2016.Spring #10)'''</span> |
| − | || | + | || '''territorial relativities''' <br> - revenue-neutral change |
| − | || | + | || '''multivariate methods''' <br> - benefits <span style="color: red;">'''<sup>1</sup>'''</span> |
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| − | + | : <span style="color: red;">'''<sup>1</sup>'''</span> This answer to this questions is in ''[[Werner10.Multivariate#Multivariate_Methods | Pricing - Chapter 10 - Benefits of Multivariate Methods]]''. | |
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| − | + | ==In Plain English!== | |
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| − | + | Below is a link to the complete Appendix E from Werner which is only 4 pages long. | |
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| − | + | * There first 2 pages are just a review of chapter 9 material. | |
| − | + | * The last 2 pages show an example of the pure premium method | |
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| − | + | 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. | |
| − | = | + | : [https://www.battleacts5.ca/pdf/Werner_(p411-414)_App_E_complete.pdf <span style="color: white; font-size: 12px; background-color: sandybrown; border: solid; border-width: 2px; border-radius: 10px; border-color: sandybrown; padding: 1px 3px 1px 3px; margin: 0px;">'''''EXAMPLE: Appendix E - Univariate Analysis - Complete'''''</span>] |
| + | Slay the beast. | ||
==POP QUIZ ANSWERS== | ==POP QUIZ ANSWERS== | ||
| + | |||
| + | This is what happens when actuaries stop working and ''[https://www.battleacts5.ca/images/SOA_dancing.png start partying!]'' It's not a pretty sight. :-) | ||
Latest revision as of 15:22, 14 January 2021
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. :-)
