Difference between revisions of "Werner14.Implementation"

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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:
  
−
* fact A...
+
* <span style="color: green;">'''base rate'''</span> - ''calculating the appropriate base rate to be implemented with a rate change''
−
* fact B...
+
* <span style="color: blue;">'''territorial relativities'''</span> ''calculating territorial relativities to be implemented with a rate change''
 +
* <span style="color: brown;">'''non-pricing solutions'''</span> - ''bringing the Fundamental Insurance Equation into balance''
  
 
: {| class='wikitable' style='width: 1000px;'
 
: {| class='wikitable' style='width: 1000px;'
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|-
 
|-
 
! style='width: 175px;' | reference !! style='width: 175px;' | part (a) !! style='width: 175px;' | part (b) !! style='width: 175px;' | part (c) !! part (d)
 
! style='width: 175px;' | reference !! style='width: 175px;' | part (a) !! style='width: 175px;' | part (b) !! style='width: 175px;' | part (c) !! part (d)
 +
 +
|- style="border-bottom: solid 2px"
 +
|| [https://www.battleacts5.ca/pdf/Exam_(2018_2-Fall)/(2018_2-Fall)_(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.Fall #12)'''</span>
 +
|| '''PP method''' (adjusted) <br> - see [[Werner09.RiskClass#Adjusted_Pure_Premium_Approach | Chapter 9 - Adj. PP]]''
 +
|| <span style="color: green;">'''base rate'''</span> <br> - calculate
 +
|| '''rating variable criteria''' <br> - see  [[Werner09.RiskClass#Criteria_for_Evaluating_Rating_Variables | social criteria]]
 +
| style="background-color: lightgrey;" |
  
 
|-
 
|-
 
|| [https://www.battleacts5.ca/pdf/Exam_(2017_2-Fall)/(2017_2-Fall)_(13).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;'>'''(2017.Fall #13)'''</span>
 
|| [https://www.battleacts5.ca/pdf/Exam_(2017_2-Fall)/(2017_2-Fall)_(13).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;'>'''(2017.Fall #13)'''</span>
−
||  
+
|| <span style="color: blue;">'''territorial relativities'''</span> <br> - calculate
−
||  
+
| style="background-color: lightgrey;" |  
−
||
+
| style="background-color: lightgrey;" |  
−
||
+
| style="background-color: lightgrey;" |  
  
−
|-
+
|- style="border-bottom: solid 2px"
 
|| [https://www.battleacts5.ca/pdf/Exam_(2017_1-Spring)/(2017_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;'>'''(2017.Spring #10)'''</span>
 
|| [https://www.battleacts5.ca/pdf/Exam_(2017_1-Spring)/(2017_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;'>'''(2017.Spring #10)'''</span>
−
||  
+
|| '''U/W profit''' <br> - calculate
−
||  
+
|| <span style="color: green;">'''base rate'''</span> <br> - calculate
−
||
+
|| <span style="color: green;">'''base rate'''</span> <br> - evaluate mgmt suggestion
−
||
+
| style="background-color: lightgrey;" |  
  
−
|-
+
|- style="border-bottom: solid 2px"
 
|| [https://www.battleacts5.ca/pdf/Exam_(2016_1-Spring)/(2016_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;'>'''(2016.Spring #12)'''</span>
 
|| [https://www.battleacts5.ca/pdf/Exam_(2016_1-Spring)/(2016_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;'>'''(2016.Spring #12)'''</span>
−
||  
+
|| '''change in premium''' <br> - calculate average
−
||  
+
|| '''change in premium''' <br> - distortion
−
||
+
|| <span style="color: brown;">'''non-pricing solutions'''</span> <br> - for inadequate rates
−
||
+
| style="background-color: lightgrey;" |  
  
 
|-
 
|-
 
|| [https://www.battleacts5.ca/pdf/Exam_(2015_2-Fall)/(2015_2-Fall)_(09).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;'>'''(2015.Fall #9)'''</span>
 
|| [https://www.battleacts5.ca/pdf/Exam_(2015_2-Fall)/(2015_2-Fall)_(09).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;'>'''(2015.Fall #9)'''</span>
−
||  
+
|| <span style="color: blue;">'''territorial relativities'''</span> <br> - revenue-neutral change
−
||  
+
|| <span style="color: blue;">'''territorial relativities'''</span> <br> - evaluate impact
−
||
+
| style="background-color: lightgrey;" |  
−
||
+
| style="background-color: lightgrey;" |  
  
 
|-
 
|-
 
|| [https://www.battleacts5.ca/pdf/Exam_(2015_2-Fall)/(2015_2-Fall)_(11).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;'>'''(2015.Fall #11)'''</span>
 
|| [https://www.battleacts5.ca/pdf/Exam_(2015_2-Fall)/(2015_2-Fall)_(11).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;'>'''(2015.Fall #11)'''</span>
−
||  
+
|| <span style="color: green;">'''base rate'''</span> <br> - calculate (see [[Werner05.Premium#Extension_of_Exposures | here]])
−
||  
+
| style="background-color: lightgrey;" |  
−
||
+
| style="background-color: lightgrey;" |  
−
||
+
| style="background-color: lightgrey;" |  
  
−
|-
+
|- style="border-bottom: solid 2px"
 
|| [https://www.battleacts5.ca/pdf/Exam_(2015_1-Spring)/(2015_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;'>'''(2015.Spring #10)'''</span>
 
|| [https://www.battleacts5.ca/pdf/Exam_(2015_1-Spring)/(2015_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;'>'''(2015.Spring #10)'''</span>
−
||  
+
|| <span style="color: blue;">'''territorial relativities'''</span> <br> - calculate
−
||  
+
|| <span style="color: brown;">'''non-pricing solutions'''</span> <br> - for inadequate rates
−
||
+
| style="background-color: lightgrey;" |  
−
||
+
| style="background-color: lightgrey;" |  
  
−
|-
+
|- style="border-bottom: solid 2px"
 
|| [https://www.battleacts5.ca/pdf/Exam_(2014_1-Spring)/(2014_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;'>'''(2014.Spring #10)'''</span>
 
|| [https://www.battleacts5.ca/pdf/Exam_(2014_1-Spring)/(2014_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;'>'''(2014.Spring #10)'''</span>
−
||  
+
|| '''deviation from indicated''' <br> - 3 reasons
−
||  
+
|| <span style="color: brown;">'''non-pricing solutions'''</span> <br> - for inadequate rates
−
||
+
|| <span style="color: green;">'''base rate'''</span> <br> - calculate
−
||
+
| style="background-color: lightgrey;" |  
  
 
|-
 
|-
 
|| [https://www.battleacts5.ca/pdf/Exam_(2013_2-Fall)/(2013_2-Fall)_(09).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;'>'''(2013.Fall #9)'''</span>
 
|| [https://www.battleacts5.ca/pdf/Exam_(2013_2-Fall)/(2013_2-Fall)_(09).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;'>'''(2013.Fall #9)'''</span>
−
||  
+
|| <span style="color: blue;">'''territorial relativities'''</span> <br> - calculate
−
||  
+
| style="background-color: lightgrey;" |  
−
||
+
| style="background-color: lightgrey;" |  
−
||
+
| style="background-color: lightgrey;" |  
  
 
|-
 
|-
 
|| [https://www.battleacts5.ca/pdf/Exam_(2013_1-Spring)/(2013_1-Spring)_(14).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;'>'''(2013.Spring #14)'''</span>
 
|| [https://www.battleacts5.ca/pdf/Exam_(2013_1-Spring)/(2013_1-Spring)_(14).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;'>'''(2013.Spring #14)'''</span>
−
||  
+
|| '''capping rates''' <br> - identify issues
−
||  
+
|| '''capping rates''' <br> - reasons for
−
||
+
| style="background-color: lightgrey;" |  
−
||
+
| style="background-color: lightgrey;" |  
  
 
|}
 
|}

Revision as of 18:45, 3 December 2020


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Keywords

BattleTable

Based on past exams, the main things you need to know (in rough order of importance) are:

  • base rate - calculating the appropriate base rate to be implemented with a rate change
  • territorial relativities calculating territorial relativities to be implemented with a rate change
  • non-pricing solutions - bringing the Fundamental Insurance Equation into balance
reference part (a) part (b) part (c) part (d)
E (2018.Fall #12) PP method (adjusted)
- see Chapter 9 - Adj. PP 		base rate
- calculate 		rating variable criteria
- see social criteria
E (2017.Fall #13) territorial relativities
- calculate
E (2017.Spring #10) U/W profit
- calculate 		base rate
- calculate 		base rate
- evaluate mgmt suggestion
E (2016.Spring #12) change in premium
- calculate average 		change in premium
- distortion 		non-pricing solutions
- for inadequate rates
E (2015.Fall #9) territorial relativities
- revenue-neutral change 		territorial relativities
- evaluate impact
E (2015.Fall #11) base rate
- calculate (see here)
E (2015.Spring #10) territorial relativities
- calculate 		non-pricing solutions
- for inadequate rates
E (2014.Spring #10) deviation from indicated
- 3 reasons 		non-pricing solutions
- for inadequate rates 		base rate
- calculate
E (2013.Fall #9) territorial relativities
- calculate
E (2013.Spring #14) capping rates
- identify issues 		capping rates
- reasons for

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