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(Ranking Table)
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! style='column-width: 250px;' | Pricing: Other readings
 
! style='column-width: 250px;' | Pricing: Other readings
 
! style='column-width: 100px;' | Study Time
 
! style='column-width: 100px;' | Study Time
 +
 +
|-
 +
| style='text-align: center;" | <span style="color: white; font-size: 12px; background-color: red; border: solid; border-width: 1px; border-radius: 10px; border-color: red; padding: 2px 5px 2px 5px; margin: 0px;">'''Rarely Asked'''</span>
 +
| [[SOP.UnpaidClms]]
 +
| style='text-align: center;' | 30 minutes
 +
| style='column-width: 100px; border-left: 5px solid; text-align: center;' | <span style="color: white; font-size: 12px; background-color: red; border: solid; border-width: 1px; border-radius: 10px; border-color: red; padding: 2px 5px 2px 5px; margin: 0px;">'''Rarely Asked'''</span>
 +
| [[SOP.Ratemaking]]
 +
| style='text-align: center;' | 30 minutes
  
 
|-
 
|-
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| style='column-width: 100px; border-left: 5px solid; text-align: center;' | <span style="color: white; font-size: 12px; background-color: red; border: solid; border-width: 1px; border-radius: 10px; border-color: red; padding: 2px 5px 2px 5px; margin: 0px;">'''Rarely Asked'''</span>
 
| style='column-width: 100px; border-left: 5px solid; text-align: center;' | <span style="color: white; font-size: 12px; background-color: red; border: solid; border-width: 1px; border-radius: 10px; border-color: red; padding: 2px 5px 2px 5px; margin: 0px;">'''Rarely Asked'''</span>
 
| [[WernerA.Auto]]
 
| [[WernerA.Auto]]
| style='text-align: center;' | 10 mins
+
| style='text-align: center;' | TBA
  
 
|-
 
|-
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| style='column-width: 100px; border-left: 5px solid; text-align: center;' | <span style="color: white; font-size: 12px; background-color: red; border: solid; border-width: 1px; border-radius: 10px; border-color: red; padding: 2px 5px 2px 5px; margin: 0px;">'''Rarely Asked'''</span>
 
| style='column-width: 100px; border-left: 5px solid; text-align: center;' | <span style="color: white; font-size: 12px; background-color: red; border: solid; border-width: 1px; border-radius: 10px; border-color: red; padding: 2px 5px 2px 5px; margin: 0px;">'''Rarely Asked'''</span>
 
| [[WernerB.Home]]
 
| [[WernerB.Home]]
| style='text-align: center;' | <span style="color: red;">'''2 days'''</span>
+
| style='text-align: center;' | TBA
  
 
|-
 
|-
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| style='column-width: 100px; border-left: 5px solid; text-align: center;' | <span style="color: white; font-size: 12px; background-color: red; border: solid; border-width: 1px; border-radius: 10px; border-color: red; padding: 2px 5px 2px 5px; margin: 0px;">'''Rarely Asked'''</span>
 
| style='column-width: 100px; border-left: 5px solid; text-align: center;' | <span style="color: white; font-size: 12px; background-color: red; border: solid; border-width: 1px; border-radius: 10px; border-color: red; padding: 2px 5px 2px 5px; margin: 0px;">'''Rarely Asked'''</span>
 
| [[WernerC.MedMal]]  
 
| [[WernerC.MedMal]]  
| style='text-align: center;' | 10 mins
+
| style='text-align: center;' | TBA
  
 
|-
 
|-
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| style='text-align: center; background-color: grey;" | --
 
| style='text-align: center; background-color: grey;" | --
 
| style='text-align: center; background-color: grey;" | --
 
| style='text-align: center; background-color: grey;" | --
| style='column-width: 100px; border-left: 5px solid; text-align: center;' | <span style="color: black; font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 10px; border-color: yellow; padding: 2px 5px 2px 5px; margin: 0px;">'''Bottom 20%'''</span>
+
| style='column-width: 100px; border-left: 5px solid; text-align: center;' | <span style="color: white; font-size: 12px; background-color: steelblue; border: solid; border-width: 1px; border-radius: 10px; border-color: steelblue; padding: 2px 5px 2px 5px; margin: 0px;">'''Core Content'''</span>
 
| [[WernerD.WC]]
 
| [[WernerD.WC]]
| style='text-align: center;' | <span style="color: red;">'''2 days'''</span>
+
| style='text-align: center;' | TBA
  
 
|-
 
|-
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| style='column-width: 100px; border-left: 5px solid; text-align: center;' | <span style="color: black; font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 10px; border-color: yellow; padding: 2px 5px 2px 5px; margin: 0px;">'''Bottom 20%'''</span>
 
| style='column-width: 100px; border-left: 5px solid; text-align: center;' | <span style="color: black; font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 10px; border-color: yellow; padding: 2px 5px 2px 5px; margin: 0px;">'''Bottom 20%'''</span>
 
| [[WernerE.Univariate]]
 
| [[WernerE.Univariate]]
| style='text-align: center;' | 30 minutes
+
| style='text-align: center;' | TBA
  
 
|-
 
|-
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| style='text-align: center; background-color: grey;" | --
 
| style='text-align: center; background-color: grey;" | --
 
| style='text-align: center; background-color: grey;" | --
 
| style='text-align: center; background-color: grey;" | --
| style='column-width: 100px; border-left: 5px solid;  border-bottom: 2px solid; text-align: center;' | <span style="color: black; font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 10px; border-color: yellow; padding: 2px 5px 2px 5px; margin: 0px;">'''Bottom 20%'''</span>
+
| style='column-width: 100px; border-left: 5px solid; text-align: center;' | <span style="color: black; font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 10px; border-color: yellow; padding: 2px 5px 2px 5px; margin: 0px;">'''Bottom 20%'''</span>
| style=" border-bottom: 2px solid;" | [[WernerF.Multivariate]]
+
| [[WernerF.Multivariate]]
| style='text-align: center; border-bottom: 2px solid;' | &frac12; day
+
| style='text-align: center;' | TBA
 
 
|-
 
| style='text-align: center; background-color: grey;" | --
 
| style='text-align: center; background-color: grey;" | --
 
| style='text-align: center; background-color: grey;" | --
 
| style='column-width: 100px; border-left: 5px solid; text-align: center;' | <span style="color: white; font-size: 12px; background-color: red; border: solid; border-width: 1px; border-radius: 10px; border-color: red; padding: 2px 5px 2px 5px; margin: 0px;">'''Rarely Asked'''</span>
 
| [[SOP.Ratemaking]]
 
| style='text-align: center;' | 30 minutes
 
  
 
|}
 
|}

Revision as of 19:59, 25 May 2021

Introduction

Exam 5 consists primarily of 2 source texts covering Reserving (Estimating Unpaid Claims), and Pricing:

  • Estimating Unpaid Claims Using Basic Techniques, Friedland, J.F., , Casualty Actuarial Society, Third Version, July 2010.
  • BASIC RATEMAKING, Fifth Edition, May 2016, Geoff Werner, FCAS, MAAA & Claudine Modlin, FCAS, MAAA

There are also several much shorter readings including: SOPs (Statements of Principle), ASOPs (Actuarial Standards of Practice), and appendices from Werner & Modlin. The Rank in the tables below indicates how frequently each topic has been asked on prior exams.

  • "Top 5" chapters are the most heavily tested. "Top 5" and "Core Content" chapters together account for about 80% of the points on the exam.
  • "Bottom 20%" and "Rarely Tested" chapters together account for about 20% of the points on the exam. "Rarely Tested" chapters appear rarely (or never) on the exam.

Click on the links in the table below to go to specific chapters. You can start with either Reserving or Pricing but you should do the chapters in order because later chapters depend on material from earlier chapters. When you want a change of pace, pick up one of the shorter readings for a break. Make sure you know all of the Top 5 and Core Content material really well.

Note: Alice-the-Actuary  and her minion Ian-the-Intern will appear from time to time to help you out. :-)

Ranking Table

Rank Reserving: Friedland Study Time Rank Pricing: Werner Study Time
Rarely Asked Friedland01.Overview 30 minutes Rarely Asked Werner01.Intro 1 hr
Rarely Asked Friedland02.ClmsProcess ½ day -- not on syllabus - Werner02.Manuals --
Bottom 20% Friedland03.Data ½ day Core Content Werner03.Data ½ day
Rarely Asked Friedland04.Meetings 15 minutes Core Content Werner04.Exposures 2 days
Bottom 20% Friedland05.Triangles 2 days Top 5! Werner05.Premium 1 week
Bottom 20% Friedland06.Diagnostics 2 days Top 5! Werner06.LossLAE 1 week
Top 5! Friedland07.Development 2-5 days Core Content Werner07.OtherExpenses 3 days
Bottom 20% Friedland08.ExpectedClms 3 days Top 5! Werner08.Indication 3 days
Core Content Friedland09.BornFerg 3 days Top 5! Werner09.RiskClass 3 days
Top 5! Friedland10.CapeCod 3 days Bottom 20% Werner10.Multivariate 1 day
Top 5! Friedland11.FreqSev 1 week Top 5! Werner11.SpecialClass 1 week
Core Content Friedland12.CaseOS 1 week Bottom 20% Werner12.Credibility 3 days
Top 5! Friedland13.BerqSherm 1 week Bottom 20% Werner13.Other 1 day
Core Content Friedland14.Recoveries 2-3 days Core Content Werner14.Implementation 1 week
Top 5! Friedland15.Evaluation 1 week Bottom 20% Werner15.Commercial 1-3 days
Core Content Friedland16.ALAE 2-3 days Bottom 20% Werner16.ClaimsMade ½ day
Core Content Friedland17.ULAE 2-3 days -- -- --

Other syllabus readings:

Rank Reserving: Other readings Study Time Rank Pricing: Other readings Study Time
Rarely Asked SOP.UnpaidClms 30 minutes Rarely Asked SOP.Ratemaking 30 minutes
Bottom 20% ASOP12.RiskClass 1 hr Rarely Asked WernerA.Auto TBA
Rarely Asked ASOP13.Trend 30 minutes Rarely Asked WernerB.Home TBA
Rarely Asked ASOP43.UnpaidClmEst 30 minutes Rarely Asked WernerC.MedMal TBA
-- -- -- Core Content WernerD.WC TBA
-- -- -- Bottom 20% WernerE.Univariate TBA
-- -- -- Bottom 20% WernerF.Multivariate TBA

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