Separate names with a comma.
Hi, Case estimate is pertaining to individual estimation of reported outstanding claims only. case estimate is made for attritional claims as...
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
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....
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...
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
Just calculate value present value at start point and end point Say duration is t Single rate (end value/start value) ^(1/t)
https://ifoa-www.s3.eu-west-2.amazonaws.com/live/s3fs-public/curriculum/specimen_papers/SPECIMEN%20EXAM%20PAPER_CS2B_IFoA_2019_final_0.pdf...
I can't tell specifically, however you can check papers from September 2016 exams, markings had been provided since then.
You can refer markings for calculation questions in the Examiners report of April 2018, assuming same marking ideology....
1. relationship between Gamma function \(\Gamma \) and factorial \( ! \) is \(\Gamma(n)=(n-1)! \) - now you can link the answer. 2....
ILF table is for Reinsurance contracts written on 1st Jan 2012, regardless of mid-point of risk. Actuary wish ILF curve for Reinsurance contract...
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...
Similar, Incurred claims= paid claims + c/f outstandings - b/f outstandings. Paid claims:- whatever paid in the duration. c/f outstanding:-...
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....
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...
