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Happily Qualified!!!
How is Continued Personal Medical Exclusions different from the No worse terms ??
If you call the spaces A B and C, for one space to be empty either space A could get vacated or space B or space C could be vacated. (i.e either...
Is it possible that there are more development years than accident years? What would that mean? How would the triangle look then? Would there...
Question 11.2 :- Discuss the factors that you would consider in determining an appropriate investment strategy for a pension scheme that provides...
1. Would you please explain why the portfolio equally weighted in all the risky assets and the risk free one doesnot lie on the CML? In the...
If all payments are received once every half year, then you would receive the payment that makes NPV of income = NPV of outgo only at the end of a...
In the example, don't we have to include the 5% arrangement fee and explain that as well? Or would that be considered too much technical info?...
Y should be BOTH greater than 10 and less than 50. Since you are given the cdf F(y), P(10<Y<50) = F(50) - F(10) = 0.96 -0.23 = 0.73 Why you...
Thanks! I have an older version of the notes ...one that I used when I took the exam :o so maybe the number's wrong!! But thanks for clarifying...:)
This is by far the silliest of my posts!!! but pls do clarify...is the test presentation marked?? Now that I've uploaded it ...I'm really...
Would it be a good idea to include a slide specifically for assumptions?
If an investor exhibits increasing ARA, does that not mean that as wealth increases the investor becomes more risk averse and therefore invests...
How do we calculate a reserve if we have two triangles - one of paid claims and one of incurred claims?
One of the problems with a run-off triangle is that there is very little data at the tail (ie in the final column). For example, if a run-off...
Thank you! Good Luck for your exams!!! :)
Thanks! :) I was started looking thro the notes for something like this, but I guessed I missed it :(
2) The first 10900 of an individual The first 10900 of an individual’s net gains are free of CGT - NOW, then it was the first 10600 But what...
I guess its because I divided by exposure twice! Thanks for all your responses! :)
Would you please explain how the 57525 comes?? Sorry! I got it...I was uing 37340 all along :( 1. also how did the 451.39 figure come up? 1250 is...
Sept 2011 qn 3 iii) What exactly do they mean by "entirely debt financed"? Does that mean raising debt to buy back all shares? So how does...
Why should we use the acpc? Is there a difference in trying to project expected number of claims and expected claims cost separately and...
Would you pls explain "if there are no claims for the 17 exposures, and a claims frequency model is built using a log link, we could have large...
Why is there no adjustment for inflation for the premiums? shouldn't they also be multiplied by the suitable powers of 1.05 ?
An insurer (C) takes on a risk with EML of $10m. C has a risk excess of loss contract $5m xs $1m with reinsurer A which applies before a surplus...
Thank you! :)
While trying to model interest rates using the CIR model, which of these are used? dr = a(mu-r)dt + sqrt(r)*e*sigma* sqrt(dt) or dr =...
In the solution, isnt it (y/k)^2 * (1+1) since the coeff of variation of an exponential RV is 1?? Or am I missing something?
Thank you all very much! that was really helpful!
Would you pls explain the premium index in the solution?? How have the reate changes been used?
This is a very elementary question, i suppose! But wold you please explain how an aggregate deductible works in a per event XL treaty (like the...
Im really sorry, I did manage to do the glm question. It was in the IAI Nov 2013 paper.:o
IAI Nov 2013 q12 :( Would you please explain how the avg loss to layer is estimated in (iV) ?? I'm really sorry! I'm unable to to edit the...
it is the easier way in this particular question to develop and then trend! the same q is in the specimen paper and I tried it the other way too...
Oh! thanks so much! I was under the impression it was the start and the premium determined was for the first year!
Which way is it?:confused:
The contract is said to start on 1-Jan-2011. and the ILF table is as at 2009. Why is the inflation factor cube of 1.5? Shouldn't we be counting...
Thanks! I have another doubt...although it seems silly, i'd really appreciate hel on this! Calculating cost to a specific layer requires C *...
seppt 2011 q6 vi In part vi of the same question, would you please explain how the exposure on a claims made basis for 2011 remains unchanged? By...
Would you please explain how to look up the ILFs ??:confused: :( Why is there a policy limit and where has that been used?
Thank you very much! Sorry about the wrong paper! !:)
In the sept 2013 paper's solution, it says as a result of QE, the exchange rate may deteriorate, that i can understand. But it also says "The...
Would you please explain the meaning of "Both the CDS and the LOC seek to improve the buyer/holdercredit risk on company A by including an...
Would you please explain how one could hedge the risk of falling interest rates with an interest rate floor? In the April 2007 paper, the company...
Would you pls explain what this means "Creating tranches of stock that split principal payments by duration. In this way different tranches of...
part xiii Q2 April 2013 Would you pls explain part xiii again esp. 125 m that is released?
Q1 part (ix) Is not the maturity gap Rate insensitive assets less rate insensitive liabilities? Since both the loans are fixed rate, should not...
Oh I see! I was just curious because I saw a question on that (below) and thought it might be good practice for this exam session....
Where can you find these questions? i mean the ones for previous P5 exams?
Would you pls explain how the Australian and Singapore tax credits have been calculated?? Thanks!! I Got it!!
In adjusting trended ultimate claims/ exp, why is it 0.77 and not 0.7? It says they have estimated 30% excess and not 33% due to economic...
Would you please explain how the loss ratios are so?
In the comments in the examiner's report it says "Weaker candidates used a method that contradicted information given in the question; for...
In analyzing premium rate changes on renewal, it says the main disadvantage of the method is that it ignores the impact of new and lost business...
Thanks! that does help!
Thank you Mr. Michaels! I did manage to download the paper you suggested..will go through it this weekend!:)
Would you please explain why the offset is ln(exposure) in the claim numbers model?:confused: (MV models in pricing, chapter 17)
Why is the solution to 15.7 Cb * ILF(1000000) / ILF(100000) and not as per the core reading equation Cb.( ILF(1000000) - IFL(100000))??
I passed too...Thank you very much for answering so many of my questions so patiently!!
Would you please explain stacking and the example in then notes with respect to stacking and XL layers in the chapter on original loss curves? How...
"If the risk is over-placed, this indicates that the firm order price was probably too high. Conversely, if the risk is not fully placed the firm...
In the context of LPTs, one of the disadvantages is "The transfer may require the buy-in of reinsurers where there are existing reinsurance...
Thank you so much, Mr. Michaels!
I am planning to sit ST8 first and 7 later, I wont be able to do them together! Would you pls suggest chapters from ST7 that I should include now...
Thank you so much! I think i'd mixed up the months and years!! The explanation was really helpful!
In the core reading, it says Note that each factor has a base level that should not be included in the model,and for interactions, each base level...
Would you pls explain how i is 2.4 yrs? From the example just preceding the question, should the relevant period not be from sept 1 2009 to August...
Would you pls explain the difference between the two? :confused: Would you pls give me some simple example?
Thank you very much!!
thanks a lot!
In the additional reading on credit derivatives it says on of the reasons why a firm would sell a CDS is "the spread over risk free that can be...
In the additional reading section on the IFoA, I came across a doc on credit derivatives. In the section about impact of implied correlation on...
I am sorry maybe the title of my post was misleading! I meant the question in the Part-3 Questions. The whole question not just (iii)! :( it...
despite the explanation I'm unable to understand how to go about the solution!! :( :o Would you pls explain? In the euro example given, isn't...
Thanks a lot!
Would you pls explain what the following sentence means "Basel III aims to sharply deleverage the economy which threatens economic growth at...
I know this sounds silly...but should it not be 100000/ NQ?? How is it 100000/ q? also what is carrying cost of capital that is mentioned after...
4 and 5 or 5 and 8 are really doable! 4 and 8 maybe tough!!
Would you pls explain the meaning of that sentence???
it may not be exactly wht u wanted...but maybe u cd get some idea of how u cd proceed and find what u want!! :( sorry if it wasnt helpful...as i...
I think it wouldn't matter when you pay the income tax, to determine whether there is a capital gain. I would still think it would be comparison...
The instalment X = L/a_12n (thats given) Loan o/s after 15th instalment X*a_(12n-15) interest in the 16th payment is X*a_(12n-15)* i ,...
In the notes, it says commodity linked bonds would appear less risky to lenders. How so? When commodity prices and hence company profits fall, the...
yes, If it is ex-dividend, the investor does not receive the dividend immediately paid immediately after he buys the share. You have to be careful...
Am not sure if this answers your question I havent yet gone thro' it fully ...but it looks to be on the same lines...
Mr. Mckee it wasnt on the site itself but in the instructions section of the old question papers that I saw that reference. I misunderstood it to...
Donno abt a limitation...its the easiest way...ateast for me :)
Because it is ex-dividend, the investor would not receive the dividend due in one months time. The PV that is given is after this dividend is...
Would you pls explain what this means...It looks simple but I'm not able to understand it! :( In this way, the maximum potential loss is...
Yes, although it said so somewhere on the site, the India specific material is apparently in a book "Indian Financial system"!! This was listed...
Thank you very much!
Thank you!
I am an overseas student and am just getting familiar with these things and hence this question! On pg 2 of this chapter it says the FPC and...
Is a collateral trust bond the same as a CDO?
1.Would you pls explain the sentence "The equity has a value greater then 0 because the debt is not due immediately". The co's assets would...
Would you pls explain this concept of cheapest to deliver stock? If I have a bond or equity future, am i not expected to trade in that...
On page 70 of course notes (chapter 2 page 8), the first 4 lines of core reading are about globex. Do the next few lines of core reading pertain...
Thanks :) ST6 or 9 was what I was thinking too!
Thanks :)
