BattleBriefings

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)
• 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 for about 20% of the points on the exam. "Rarely Tested" chapters appear rarely (or never) on the exam.

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.

Ranking Table

Rank	Reserving: Friedland	Study Time	Rank	Pricing: Werner	Study Time
Rarely Asked	Friedland01.Overview	30 minutes	Rarely Asked	Complete Werner01.Intro	1 hr
Rarely Asked	Friedland02.ClmsProcess	½ day	--	not on syllabus - Werner02.Manuals	--
Bottom 20%	Friedland03.Data	½ day	Core Content	Complete Werner03.Data	½ day
Rarely Asked	Friedland04.Meetings	15 minutes	Core Content	Complete Werner04.Exposures	2 days
Bottom 20%	Friedland05.Triangles	2 days	Top 5!	Complete Werner05.Premium	1 week
Bottom 20%	Friedland06.Diagnostics	2 days	Top 5!	Complete Werner06.LossLAE	1 week
Top 5!	Friedland07.Development	2-5 days	Core Content	Complete Werner07.OtherExpenses	3 days
Bottom 20%	Friedland08.ExpectedClms	3 days	Top 5!	Complete Werner08.Indication	3 days
Core Content	Friedland09.BornFerg	3 days	Top 5!	Complete Werner09.RiskClass	3 days
Top 5!	Friedland10.CapeCod	3 days	Bottom 20%	Fall - Werner10.Multivariate	TBA
Top 5!	Friedland11.FreqSev	1 week	Top 5!	Complete Werner11.SpecialClass	TBA
Core Content	Friedland12.CaseOS	1 week	Bottom 20%	Fall - Werner12.Credibility	TBA
Top 5!	Friedland13.BerqSherm	1 week	Bottom 20%	Fall - Werner13.Other	TBA
Core Content	Friedland14.Recoveries	2-3 days	Core Content	65% Complete Werner14.Implementation	TBA
Top 5!	Friedland15.Evaluation	1 week	Bottom 20%	Fall - Werner15.Commercial	TBA
Core Content	Friedland16.ALAE	2-3 days	Bottom 20%	Fall - Werner16.ClaimsMade	TBA
Core Content	Friedland17.ULAE	2-3 days	--	--	--

Other syllabus readings: SOPs, ASOPs, appendices from Werner

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

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