• We are pleased to announce that the winner of our Feedback Prize Draw for the Winter 2024-25 session and winning £150 of gift vouchers is Zhao Liang Tay. Congratulations to Zhao Liang. If you fancy winning £150 worth of gift vouchers (from a major UK store) for the Summer 2025 exam sitting for just a few minutes of your time throughout the session, please see our website at https://www.acted.co.uk/further-info.html?pat=feedback#feedback-prize for more information on how you can make sure your name is included in the draw at the end of the session.
  • Please be advised that the SP1, SP5 and SP7 X1 deadline is the 14th July and not the 17th June as first stated. Please accept out apologies for any confusion caused.

Rounding off policy on Run-off Triangles

C

Clerry

Member
Hi everyone,
I've been wondering if there is any policy governing the use of decimals and rounding off in run-off triangles. The table on page 24 of chapter 21 is confusing. Some figures are rounded off to the nearest whole number, while the others are simply truncated, even when they are very close to the nearest whole figure. I've attached the same here for your review.
 

Attachments

  • ACLM.PNG
    ACLM.PNG
    27.4 KB · Views: 8
Had any luck with this? As far as I can tell, claim payments are in whole numbers. Anything with decimals seem to work to 4s.f.'s (so inflation indexes 126.5, but development factors 1.051).
I met this in CT6 before, and the approach there seemed to be that 4 sig-figs is OK, because you had to write it all down because there's too much to store in the calculator.

I don't know whether this sort of thing can turn up in Paper B, where presumably any rounding at all mid-question would be bad (...? Do not take my word on that, I haven't been to a prep day yet).
 
You must log in or register to reply here.
Back
Top