BattleBriefings
Introduction
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 smaller readings including:
- SOPs (Statements of Principle)
- ASOPs (Actuarial Standards of Practice)
- appendices from Werner & Modlin.
The Rank in the table below indicates how frequently each topic has been asked on prior exams. The Top 5 chapters are the most heavily tested. The Core Content chapters are also heavily tested although less so than the Top 5. 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 smaller readings for a break. Once you're through all of the material once, go back through the material using and make sure you know all of the high priority material really well.
As you become more familiar with using the BattleActs system, take some time to explore the other features on the BattleActs Main Page. There's a lot there so you don't have do it all right at the beginning. An especially useful link is Direct Link to Web-Based Practice Problems. It provides unlimited practice for calculation problems.
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
