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ST8 September 2012

Discussion in 'SP8' started by howard, Apr 7, 2019.

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  1. howard

    howard Active Member

    Hi all
    I have some questions about the ST8 paper of September 2012:
    1) Question 4 iii - how did the solutions find the SI of 2012 as £35.0m?
    2) Question 4 iii - what is meant (in the solutions, when working out the average for 2012) by "Simple (07-11) 6.4"? I think "07-11" means years 2007-2011, but don't know what the rest of that line means. Also how did they select which value to choose?
    3) Question 8 iii b - the question asks for 'prior weight' - what is this?
    Thank you to anyone who can help me with this
    Howard
     
    howard, Apr 7, 2019
    #1
  2. Ian Senator

    Ian Senator ActEd Tutor Staff Member

    1) that was selected on page 7 of the report, as a reasonable trend from previous years.
    2) they mean simple average - but they've got the years wrong, I'm pretty sure they meant 07-10. They then selected this value using actuarial judgement.
    3) prior weights are the 'omegas' in the core reading. See chapter 16 page 14 and page 17.
     
    Ian Senator, Apr 8, 2019
    #2
  3. Sumrah Shafiq

    Sumrah Shafiq Member

    4) why are 2007 policies not trended for inflation
     
    Sumrah Shafiq, Mar 26, 2024
    #3
  4. Katherine Young

    Katherine Young ActEd Tutor Staff Member

    This is for Question 4 I take it Sumrah?

    We do indeed apply inflation to 2007. Take a look at the top of page 7 of the Examiners' Report.
     
    Katherine Young, Mar 26, 2024
    #4

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