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Recent content by Hemant Rupani

  1. Hemant Rupani

    Diagnostics

    Hi, Case estimate is pertaining to individual estimation of reported outstanding claims only. case estimate is made for attritional claims as well, once they are reported and are outstanding. However, there might be fixed rules to set case estimate for smaller claims, say, if claims for...
  2. Hemant Rupani

    Chapter 11 - Page 17/18 - normal approx to recursive formula

    Looks like you are using E(X^2), where it should be [E(X)]^2. Actual answer is... Var(S)=E(N)*Var(X)+Var(N)*[E(X)]^2 =10*2+10*1^2=30
  3. Hemant Rupani

    Chapter 20 Q20.3

    Apparantly, you are calculating the Reinsurer's claims ratio. Insurer's net claims ratio(INCR) for this case is (GWP - RP)/(GCI-RR) i.e. (81308-17435)/(120456-26500) which is 67.98%(~ 68%)
  4. Hemant Rupani

    September 2017 Question 6 (ii) - Exposure curves

    Let L be loss amount, second column is \( \sum\limits_{L<=(x\%~of~MPL)} L \) third column is\( \sum\limits_{L>(x\%~of~MPL)} (x\%~of~MPL) \) you first interpretation is good, but the values do not add as Limited Expected value, sums are just limited. I think there is no need to assume whether...
  5. Hemant Rupani

    Assignment x6.1 (ii)

    Largest risk that could be covered by this surplus treaty is 11m(Net of Quota shate, i.e. 1-60%) So at gross 11/0.4=27.5
  6. Hemant Rupani

    Single equivalent discount rates

    Just calculate value present value at start point and end point Say duration is t Single rate (end value/start value) ^(1/t)
  7. Hemant Rupani

    https://ifoa-www.s3.eu-west-2.amazonaws.com/live/s3fs-public/curriculum/specimen_papers/SPECIMEN%...

    https://ifoa-www.s3.eu-west-2.amazonaws.com/live/s3fs-public/curriculum/specimen_papers/SPECIMEN%20EXAM%20PAPER_CS2B_IFoA_2019_final_0.pdf https://www.actuaries.org.uk/studying/curriculum-2019/actuarial-statistics as per the sample paper, you need to write your answer in MS word and submit it...
  8. Hemant Rupani

    October 2015 Q9

    I can't tell specifically, however you can check papers from September 2016 exams, markings had been provided since then.
  9. Hemant Rupani

    October 2015 Q9

    You can refer markings for calculation questions in the Examiners report of April 2018, assuming same marking ideology. https://www.actuaries.org.uk/documents/subject-st8-general-insurance-pricing-exam-paper-and-examiners-report-april-2018
  10. Hemant Rupani

    Recursive formula - Q11.3 in CR Chapter 11

    1. relationship between Gamma function \(\Gamma \) and factorial \( ! \) is \(\Gamma(n)=(n-1)! \) - now you can link the answer. 2. https://en.wikipedia.org/wiki/Binomial_coefficient
  11. Hemant Rupani

    October 2015 2iii)

    ILF table is for Reinsurance contracts written on 1st Jan 2012, regardless of mid-point of risk. Actuary wish ILF curve for Reinsurance contract that will commence on 1st Oct 2015, regardless of mid-point of risk. Now, if you assume mid-point of risk spread is after 5 months(1 Jan 2012 to 1 June...
  12. Hemant Rupani

    Credibility theory

    Base statistics from latest years of data of a grounp. Complement statistics is from prior years analysis of the same group, so we need more data of same risk group.
  13. Hemant Rupani

    Earned premium

    Similar, Incurred claims= paid claims + c/f outstandings - b/f outstandings. Paid claims:- whatever paid in the duration. c/f outstanding:- reported but not yet paid... so needs to be added. b/f outstanding:- reported but not paid at the start of the duration, some of it will be paid in the...
  14. Hemant Rupani

    Questions in frequency-severity

    IBNER is included, pure IBNR is not. severity is a loss per claim, as pure IBNR is not yet reported we can't take into account of distribution. even if you take you would assume pure IBNR severity as same as the severity of reported claims.
  15. Hemant Rupani

    Earned premium

    Written Premium:- whatever receivable in the duration or whatever incept in the duration. c/f UPR:- not yet earned... so needs to be reduced. b/f UPR:- had not earned at the start of the duration, some of it will be earned in the duration and remaining will be included in c/f UPR... so needs to...
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