Exam Summaries

This page provides a quick way to navigate to specific exam questions and answers. Chapter references and descriptions of individual questions are currently available for the previous 3 published exams.

2019 Fall

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.OtherExpenses	discuss: accounting for proportional & non-proportional reinsurance in pricing identify: types of investment income, discuss: trending fixed/variable expenses	essay 100%
E	(2019.Fall #7)	Friedland09.BornFerg Werner08.Indication	calculate: indicated rate change (use Bornhuetter-Ferguson for ultimate loss)	calc 100%
E	(2019.Fall #8)	Werner13.Other SOP.Ratemaking	calculate: rate change to maximize profit evaluate: rate change using ratemaking SOP	calc 70% essay 30%
E	(2019.Fall #9)	Werner15.Commercial	compare: purpose of risk classification vs individual risk rating discuss: rating characteristics & classification rating plans	essay 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.ClmsProcess	identify: 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 occurrence 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.Indication	calculate: ultimate loss (using Bornhuetter-Ferguson), indicated rate change discuss: complements of credibility	calc 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.BornFerg	calculate: 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.Recoveries	calculate: 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.LossLAE	calculate: 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.Indication	calculate: 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.Recoveries	calculate: loss aggregation (net & gross of reinsurance)	calc 100%
E	(2018.Fall #16)	Friedland07.Development Friedland09.BornFerg Friedland08.ExpectedClms	calculate: ultimate (rptd devlpt, B-F, expected claims methods) recommend: an ultimate claim estimation method	calc 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%