Exam (elaborations)
UNIT 7 QUIZ - ACTUARIAL OPERATIONS QUESTIONS AND VERIFIED ANSWERS|100% CORRECT|GRADE A+
- Course
- Institution
UNIT 7 QUIZ - ACTUARIAL OPERATIONS QUESTIONS AND VERIFIED ANSWERS|100% CORRECT|GRADE A+
[Show more]
Seller
Follow
Content preview
UNIT 7 QUIZ - ACTUARIALOPERATIONS QUESTIONS AND
VERIFIED ANSWERS|100%
CORRECT|GRADE A+
The two most prominent functions of actuaries are __________ and loss reserving. - ANSWER rate
making
A regulatory ratemaking objective is that rates are adequate, but not excessive and not ______________
discriminatory. - ANSWER unfairly
What ratemaking method would be most appropriate for a completely new line of business with no
available historical claims information? - ANSWER judgement method
Reported Losses (in $1000)
Accident Year Months of Development
12 24 36
1 5500 5250 6000
2 6500 6750
3 7500
Considering the above loss triangle, what is the 24 to 36 month (i.e., one year) loss development factor?
Please answer to four decimal points. - ANSWER 1.1428
6,,250 = 1.1428
Reported Losses (in $1000)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller sellervt. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75619 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now