Exam Summaries
Revision as of 12:18, 22 September 2020 by 66.248.200.4 (talk) (→2018 Spring TECHNOLOGY-BASED EXAM (Original))
Contents
2019 Fall
Based on user feedback, the BattleCards corresponding to the 2019.Fall exam will NOT be loaded into the BattleActs database until after the 2020.Spring exam. This is to provide the opportunity for practice on a fresh exam prior to your real exam.
link reference reading/chapter topic type E (2019.Fall #1) Werner04.Exposures calculate: exposure aggregation calc 100% E (2019.Fall #2) Werner05.Premium calculate: premium aggregation, discuss: uses of in-force premium calc 55% essay 45% E (2019.Fall #3) Werner12.Credibility calculate: credibility-weighted rate change, identify: complements of credibility calc 75% essay 25% E (2019.Fall #4) Werner16.ClaimsMade calculate/explain: differences between claims-made & occurrence policies calc 20% essay 80% E (2019.Fall #5) Werner06.LossLAE calculate: AY/PY loss trend factors, explain: overlap fallacy calc 65% essay 35% E (2019.Fall #6) Werner06.LossLAE
Werner07.OtherExpensesdiscuss: accounting for proportional & non-proportional reinsurance in pricing
identify: types of investment income, discuss: trending fixed/variable expensesessay 100% E (2019.Fall #7) Friedland09.BornFerg
Werner08.Indicationcalculate: indicated rate change (use Bornhuetter-Ferguson for ultimate loss) calc 100% E (2019.Fall #8) Werner13.Other
SOP.Ratemakingcalculate: rate change to maximize profit
evaluate: rate change using ratemaking SOPcalc 70% essay 30% E (2019.Fall #9) Werner09.RiskClass
Werner15.Commercialcompare: purpose of risk classification vs individual risk rating
discuss: rating characteristics & classification rating plansessay 100% E (2019.Fall #10) Werner10.Multivariate evaluate: inclusion of rating variable based on GLM, identify: other tests essay 100% E (2019.Fall #11) Werner10.Multivariate discuss: univariate & multivariate (GLM) model results essay 100% E (2019.Fall #12) Werner12.Credibility calculate: complement of credibility (Harwayne), discuss: current rate vs Harwayne calc 70% essay 30% E (2019.Fall #13) Werner11.SpecialClass calculate: ILF (Increased Limit Factor) calc 100% E (2019.Fall #14) Werner11.SpecialClass calculate: coinsurance amounts, describe: coinsurance & adequate/equitable rates calc 50% essay 50% E (2019.Fall #15) Werner15.Commercial discuss: impact of changes on premium in a WC large policy essay 100% E (2019.Fall #16) Friedland01.Overview
Friedland02.ClmsProcessidentify: components of unpaid claim estimate, discuss: impact of inadequate estimate essay 100% E (2019.Fall #17) Friedland06.Diagnostics discuss: paid/rptd triangle distortions, identify: relevant diagnostics essay 100% E (2019.Fall #18) Friedland12.CaseOS calculate: unpaid (case O/S devlpt), identify: scenario good for case O/S devlpt calc 85% essay 15% E (2019.Fall #19) Friedland10.CapeCod calculate: ultimate (Cape Cod) calc 100% E (2019.Fall #20) Friedland11.FreqSev calculate: unpaid (freq-sev disposal rate), identify: advantage paid devlpt method calc 80% essay 20% E (2019.Fall #21) Friedland13.BerqSherm calculate: unpaid (Berquist-Sherman technique) calc 100% E (2019.Fall #22) Friedland14.Recoveries calculate: salvage/subrogation (ratio method), identify: advantage over devlpt method calc 80% essay 20% E (2019.Fall #23) Friedland15.Evaluation evaluate: various reserving results essay 100% E (2019.Fall #24) Friedland17.ULAE calculate: ULAE (Kittel), describe: changes for occurence policies (vs claims-made) calc 65% essay 35% E (2019.Fall #25) Friedland15.Evaluation calculate: expected net paid claims, evaluate: net unpaid estimate calc 70% essay 30%
2019 Spring
link reference reading/chapter topic type E (2019.Spring #1) Werner04.Exposures calculate: exposure aggregation, describe: exposure base criteria calc 60% essay 40% E (2019.Spring #2) Werner05.Premium calculate: trended on-level EP, describe: 6 vs 12-mth trended EP calc 80% essay 20% E (2019.Spring #3) Werner03.Data describe: data aggregation, long-tailed & claims-made lines essay 100% E (2019.Spring #4) Werner06.LossLAE calculate: basic limits & excess loss trends, discuss: total limits vs basic limits trend calc 80% essay 20% E (2019.Spring #5) Werner06.LossLAE calculate: trended ultimate loss, 2 methods: capping excess losses calc 90% essay 10% E (2019.Spring #6) Werner07.OtherExpenses calculate: expense ratio (variable expenses), permissible LR, discuss: distortions calc 80% essay 20% E (2019.Spring #7) Friedland09.BornFerg
Werner08.Indicationcalculate: ultimate loss (using Bornhuetter-Ferguson), indicated rate change
discuss: complements of credibilitycalc 85% essay 15% E (2019.Spring #8) Werner13.Other calculate: expected profit, discuss: impact of assumptions calc 45% essay 55% E (2019.Spring #9) Werner10.Multivariate evaluate: specific examples of GLM models essay 100% E (2019.Spring #10) Werner09.RiskClass calculate: proposed rating factors (univariate) calc 100% E (2019.Spring #11) Werner15.Commercial discuss: concerns about pricing for a large vs small deductible policy essay 100% E (2019.Spring #12) Werner13.Other calculate: rate change (LR method), discuss: adverse selection, non-pricing strategies calc 60% essay 40% E (2019.Spring #13) Friedland07.Development discuss: combining coverages for analysis, rate recommendations essay 100% E (2019.Spring #14) Friedland06.Diagnostics evaluate: paid development technique to calculate unpaid calc 50% essay 50% E (2019.Spring #15) Friedland11.FreqSev calculate: unpaid (freq-sev disposal rate), identify: scenario for rptd clm count trend calc 90% essay 10% E (2019.Spring #16) Friedland07.Development calculate: ultimate (rptd devlpt), discuss: industry data, increasing claims staff calc 45% essay 55% E (2019.Spring #17) Friedland09.BornFerg calculate: ultimate (rptd B-F), discuss: combining data for analysis calc 80% essay 20% E (2019.Spring #18) Friedland10.CapeCod calculate: ultimate (rptd Cape Cod), identify: scenario for paid Cape Cod vs rptd Cape Cod calc 75% essay 25% E (2019.Spring #19) Friedland07.Development
Friedland09.BornFergcalculate: ultimate (reported development)
calculate: ultimate (reported Bornhuetter-Ferguson)calc 100% E (2019.Spring #20) Friedland11.FreqSev calculate: tail severity, describe: considerations in selecting tail severity calc 75% essay 25% E (2019.Spring #21) Friedland14.Recoveries identify: scenario for higher rptd claims, discuss: approach to estimate ulimate essay 100% E (2019.Spring #22) Friedland13.BerqSherm calculate: ultimate (rptd Berquist-Sherman) calc 100% E (2019.Spring #23) Friedland07.Development
Friedland14.Recoveriescalculate: IBNR (rptd devlpt) ← must consider reinsurance calc 100% E (2019.Spring #24) Friedland16.ALAE calculate: ALAE (multiplicative ratio devlpt), discuss: additive ratio devlpt, ratio methods calc 65% essay 35%
2018 Fall
link reference reading/chapter topic type E (2018.Fall #1) Werner04.Exposures evaluate: exposure basis for boat insurance essay 100% E (2018.Fall #2) Werner05.Premium
Werner06.LossLAEcalculate: premium & loss aggregation calc 100% E (2018.Fall #3) Werner05.Premium calculate & compare: on-level EP - paralleogram, extension of exposures calc 70%, essay 30% E (2018.Fall #4) Werner16.ClaimsMade calculate: RY/AY losses for claims-made & occurrence policies, describe: differences calc 35%, essay 60% E (2018.Fall #5) Werner06.LossLAE calculate: projected loss using 2-step trending calc 100% E (2018.Fall #6) Werner07.OtherExpenses discuss: premium-based vs exposure-based expense projection methods essay 100% E (2018.Fall #7) Friedland11.FreqSev
Werner08.Indicationcalculate: ultimate (frequency-severity technique)
calculate: indicated rate (pure premium method)calc 100% E (2018.Fall #8) Werner13.Other discuss: rate changes, renewals, non-pricing solutions, competitor comparisons essay 100% E (2018.Fall #9) Werner10.Multivariate interpret: GLM output, discuss: GLM challenges, compare to univariate methods essay 100% E (2018.Fall #10) Werner11.SpecialClass explain: how to develop territory definitions essay 100% E (2018.Fall #11) Werner15.Commercial calculate: premium (large deductible policy) calc 100% E (2018.Fall #12) Werner14.Implementation calculate: indicated relativities, base rate, evaluate: social criteria for rating variables calc 80%, essay 20% E (2018.Fall #13) Werner11.SpecialClass calculate: rate, indemnity pmt, coinsurance penaly, discuss: issues with underinsurance calc 80%, essay 20% E (2018.Fall #14) Friedland01.Overview discuss: importance of accurate unpaid claims estimates to stakeholders essay 100% E (2018.Fall #15) Werner06.LossLAE
Friedland14.Recoveriescalculate: loss aggregation (net & gross of reinsurance) calc 100% E (2018.Fall #16) Friedland07.Development
Friedland09.BornFerg
Friedland08.ExpectedClmscalculate: ultimate (rptd devlpt, B-F, expected claims methods)
recommend: an ultimate claim estimation methodcalc 80%, essay 20% E (2018.Fall #17) Friedland11.FreqSev calculate: ultimate (frequency-severity method), identify: assumptions of method calc 80%, essay 20% E (2018.Fall #18) Friedland10.CapeCod calculate: ultimate (rptd Cape-Cod method), discuss: effect of new class on method calc 70%, essay 30% E (2018.Fall #19) Friedland15.Evaluation evaluate: effect of change on IBNR under 3 reserving methods essay 100% E (2018.Fall #20) Friedland13.BerqSherm calculate: ultimate (Berquist-Sherman), discuss: adjustments & limitations of method calc 80%, essay 20% E (2018.Fall #21) Friedland14.Recoveries calculate: salvage & subrogation (ratio approach) calc 100% E (2018.Fall #22) Friedland17.ULAE calculate: IBYNR, ULAE calc 100% E (2018.Fall #23) Friedland16.ALAE calculate: ALAE (additive ratio method) calc 90%, essay 10% E (2018.Fall #24) Friedland15.Evaluation compare: expected vs reported loss emergence, identify: when to revise ultimate calc 70%, essay 30%
2018 Spring TECHNOLOGY-BASED EXAM (Original)
link reference reading/chapter topic type E (2018.Spring #1) Werner04.Exposures calculate: exposure aggregation, describe: exposure base criteria calc 50%, essay 50% E (2018.Spring #2) Werner12.Credibility calculate: credibility-weighted indicated premium (Buhlmann) calc 100% E (2018.Spring #3) Werner03.Data, Werner06.LossLAE compare: external data for loss trends, explain: overlap fallacy essay 100% E (2018.Spring #4) Werner12.Credibility calculate: # exposures for full credibility, discuss: credibility issues, complements calc 30%, essay 70% E (2018.Spring #5) Werner08.Indication calculate: indicated rate (loss ratio method, pure premium method) calc 60%, essay 40% E (2018.Spring #6) E (2018.Spring #7) E (2018.Spring #8) E (2018.Spring #9) E (2018.Spring #10) E (2018.Spring #11) E (2018.Spring #12) E (2018.Spring #13) E (2018.Spring #14) E (2018.Spring #15) E (2018.Spring #16) E (2018.Spring #17) E (2018.Spring #18) E (2018.Spring #19) E (2018.Spring #20) E (2018.Spring #21) E (2018.Spring #22) E (2018.Spring #23) E (2018.Spring #24) E (2018.Spring #25) Friedland16.ALAE calculate: ultimate ALAE (paid devlpt, ratio method), justify: selections calc 80%, essay 20% E (2018.Spring #26)
2018 Spring TECHNOLOGY-BASED EXAM (Makeup)
link reference reading/chapter topic type E (2018.Spring #1) E (2018.Spring #2) E (2018.Spring #3) E (2018.Spring #4) E (2018.Spring #5) E (2018.Spring #6) E (2018.Spring #7) E (2018.Spring #8) E (2018.Spring #9) E (2018.Spring #10) E (2018.Spring #11) E (2018.Spring #12) E (2018.Spring #13) E (2018.Spring #14) E (2018.Spring #15) E (2018.Spring #16) E (2018.Spring #17) E (2018.Spring #18) E (2018.Spring #19) E (2018.Spring #20) E (2018.Spring #21) E (2018.Spring #22) E (2018.Spring #23) E (2018.Spring #24) E (2018.Spring #25) E (2018.Spring #26)
2017 Fall
link reference reading/chapter topic type E (2017.Fall #1) Werner05.Premium calculate: premium trend factor, identify 2 scenarios: negative premium trend calc 65%, essay 35% E (2017.Fall #2) E (2017.Fall #3) E (2017.Fall #4) E (2017.Fall #5) E (2017.Fall #6) E (2017.Fall #7) E (2017.Fall #8) E (2017.Fall #9) E (2017.Fall #10) E (2017.Fall #11) E (2017.Fall #12) E (2017.Fall #13) E (2017.Fall #14) E (2017.Fall #15) E (2017.Fall #16) E (2017.Fall #17) E (2017.Fall #18) E (2017.Fall #19) E (2017.Fall #20) E (2017.Fall #21) E (2017.Fall #22) E (2017.Fall #23) E (2017.Fall #24) E (2017.Fall #25) E (2017.Fall #26) E (2017.Fall #27) E (2017.Fall #28)
2017 Spring
link reference reading/chapter topic type E (2017.Spring #1) Werner04.Exposures calculate: exposure aggregation calc 100% E (2017.Spring #2) E (2017.Spring #3) E (2017.Spring #4) E (2017.Spring #5) E (2017.Spring #6) E (2017.Spring #7) E (2017.Spring #8) E (2017.Spring #9) E (2017.Spring #10) E (2017.Spring #11) E (2017.Spring #12) E (2017.Spring #13) E (2017.Spring #14) E (2017.Spring #15) E (2017.Spring #16) E (2017.Spring #17) E (2017.Spring #18) E (2017.Spring #19) E (2017.Spring #20) E (2017.Spring #21) E (2017.Spring #22) E (2017.Spring #23) E (2017.Spring #24) E (2017.Spring #25) E (2017.Spring #26)
2016 Fall
link reference reading/chapter topic type E (2016.Fall #1) Werner04.Exposures calculate: exposure aggregation calc 100% E (2016.Fall #2) E (2016.Fall #3) E (2016.Fall #4) E (2016.Fall #5) E (2016.Fall #6) E (2016.Fall #7) E (2016.Fall #8) E (2016.Fall #9) E (2016.Fall #10) E (2016.Fall #11) E (2016.Fall #12) E (2016.Fall #13) E (2016.Fall #14) E (2016.Fall #15) E (2016.Fall #16) E (2016.Fall #17) E (2016.Fall #18) E (2016.Fall #19) E (2016.Fall #20) E (2016.Fall #21) E (2016.Fall #22) E (2016.Fall #23) E (2016.Fall #24) E (2016.Fall #25) E (2016.Fall #26) E (2016.Fall #27)
2016 Spring
link reference reading/chapter topic type E (2016.Spring #1) E (2016.Spring #2) E (2016.Spring #3) E (2016.Spring #4) E (2016.Spring #5) E (2016.Spring #6) E (2016.Spring #7) E (2016.Spring #8) E (2016.Spring #9) E (2016.Spring #10) E (2016.Spring #11) E (2016.Spring #12) E (2016.Spring #13) E (2016.Spring #14) E (2016.Spring #15) E (2016.Spring #16) E (2016.Spring #17) E (2016.Spring #18) E (2016.Spring #19) E (2016.Spring #20) E (2016.Spring #21) E (2016.Spring #22) E (2016.Spring #23) E (2016.Spring #24) E (2016.Spring #25)
2015 Fall
link reference reading/chapter topic type E (2015.Fall #1) E (2015.Fall #2) E (2015.Fall #3) E (2015.Fall #4) E (2015.Fall #5) E (2015.Fall #6) E (2015.Fall #7) E (2015.Fall #8) E (2015.Fall #9) E (2015.Fall #10) E (2015.Fall #11) E (2015.Fall #12) E (2015.Fall #13) E (2015.Fall #14) E (2015.Fall #15) E (2015.Fall #16) E (2015.Fall #17) E (2015.Fall #18) E (2015.Fall #19) E (2015.Fall #20) E (2015.Fall #21) E (2015.Fall #22) E (2015.Fall #23) E (2015.Fall #24) E (2015.Fall #25)
2015 Spring
link reference reading/chapter topic type E (2015.Spring #1) E (2015.Spring #2) E (2015.Spring #3) Werner04.Exposures calculate: exposure aggregation (with retention ratio), assess assumption: uniform writings calc 85%, essay 15% E (2015.Spring #4) E (2015.Spring #5) E (2015.Spring #6) E (2015.Spring #7) E (2015.Spring #8) E (2015.Spring #9) E (2015.Spring #10) E (2015.Spring #11) E (2015.Spring #12) E (2015.Spring #13) E (2015.Spring #14) E (2015.Spring #15) E (2015.Spring #16) E (2015.Spring #17) E (2015.Spring #18) E (2015.Spring #19) E (2015.Spring #20) E (2015.Spring #21) E (2015.Spring #22) E (2015.Spring #23) E (2015.Spring #24) E (2015.Spring #25)
2014 Fall
link reference reading/chapter topic type E (2014.Fall #1) E (2014.Fall #2) E (2014.Fall #3) E (2014.Fall #4) E (2014.Fall #5) E (2014.Fall #6) E (2014.Fall #7) E (2014.Fall #8) E (2014.Fall #9) E (2014.Fall #10) E (2014.Fall #11) E (2014.Fall #12) E (2014.Fall #13) E (2014.Fall #14) E (2014.Fall #15) E (2014.Fall #16) E (2014.Fall #17) E (2014.Fall #18) E (2014.Fall #19) E (2014.Fall #20) E (2014.Fall #21) E (2014.Fall #22) E (2014.Fall #23) E (2014.Fall #24)
2014 Spring
link reference reading/chapter topic type E (2014.Spring #1) E (2014.Spring #2) E (2014.Spring #3) Werner04.Exposures calculate: exposure aggregation (weird problem) calc 100% E (2014.Spring #4) E (2014.Spring #5) E (2014.Spring #6) E (2014.Spring #7) E (2014.Spring #8) E (2014.Spring #9) E (2014.Spring #10) E (2014.Spring #11) E (2014.Spring #12) E (2014.Spring #13) E (2014.Spring #14) E (2014.Spring #15) E (2014.Spring #16) E (2014.Spring #17) E (2014.Spring #18) E (2014.Spring #19) E (2014.Spring #20) E (2014.Spring #21) E (2014.Spring #22) E (2014.Spring #23)
