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  #71  
Old 09-23-2018, 05:52 PM
BelayMeMaybe BelayMeMaybe is offline
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Angry SOA STAM Sample Question # 323

Could this question be worded any more poorly?

It's really simple once you understand what the question is asking - obviously the SOA has decided to implicitly test a candidate's ability to parse legalese.

The following developed losses evaluated at various maximum loss sizes are given:
• The total losses limited at 50,000 from all policies with a policy limit of 50,000 or
more is 22,000,000.
• The total losses limited at 50,000 from all policies with a policy limit of 250,000
or more is 14,000,000.
• The total losses limited at 250,000 from all policies with a policy limit of 250,000
or more is 25,000,000.
The base rate at the 50,000 basic limit is 300 per exposure unit, consisting of 240 pure
premium, 30 fixed expense, and 30 variable expense.
Calculate the rate at the 250,000 limit.
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  #72  
Old 09-23-2018, 06:28 PM
SweepingRocks SweepingRocks is offline
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Originally Posted by KD24 View Post
How is everyone's studying coming along? What source are you using (CA, TIA, Mahler, SOA 326, etc)? What's everyone's EL in ADAPT so far? The nerves are kicking in for me.
I feel like I've got all the basics down, but I'm still tripping up on more advanced problems.

My EL is 5.6
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  #73  
Old 09-23-2018, 11:35 PM
ashleymarp ashleymarp is offline
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Quote:
Originally Posted by BelayMeMaybe View Post
Could this question be worded any more poorly?

It's really simple once you understand what the question is asking - obviously the SOA has decided to implicitly test a candidate's ability to parse legalese.

The following developed losses evaluated at various maximum loss sizes are given:
The total losses limited at 50,000 from all policies with a policy limit of 50,000 or
more is 22,000,000.
The total losses limited at 50,000 from all policies with a policy limit of 250,000
or more is 14,000,000.
The total losses limited at 250,000 from all policies with a policy limit of 250,000
or more is 25,000,000.
The base rate at the 50,000 basic limit is 300 per exposure unit, consisting of 240 pure
premium, 30 fixed expense, and 30 variable expense.
Calculate the rate at the 250,000 limit.
I saw this on ADAPT. I believe it was a level 2 question
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  #74  
Old 09-23-2018, 11:43 PM
ashleymarp ashleymarp is offline
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Originally Posted by KD24 View Post
How is everyone's studying coming along? What source are you using (CA, TIA, Mahler, SOA 326, etc)? What's everyone's EL in ADAPT so far? The nerves are kicking in for me.
Using TIA and ADAPT.
Level 3, after 3 practice exams. Not happy about it. But still going to power through these next couple of weeks by taking endless practice exams with the support of several bowls of ice cream Hby?
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  #75  
Old 09-24-2018, 12:27 AM
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Jim Daniel Jim Daniel is offline
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Originally Posted by BelayMeMaybe View Post
Could this question be worded any more poorly?
Yes, unfortunately.
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  #76  
Old 09-24-2018, 09:16 AM
ActuariallyDecentAtBest ActuariallyDecentAtBest is offline
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Quote:
Originally Posted by BelayMeMaybe View Post
Could this question be worded any more poorly?

It's really simple once you understand what the question is asking - obviously the SOA has decided to implicitly test a candidate's ability to parse legalese.

The following developed losses evaluated at various maximum loss sizes are given:
The total losses limited at 50,000 from all policies with a policy limit of 50,000 or
more is 22,000,000.
The total losses limited at 50,000 from all policies with a policy limit of 250,000
or more is 14,000,000.
The total losses limited at 250,000 from all policies with a policy limit of 250,000
or more is 25,000,000.
The base rate at the 50,000 basic limit is 300 per exposure unit, consisting of 240 pure
premium, 30 fixed expense, and 30 variable expense.
Calculate the rate at the 250,000 limit.
I really dislike that question
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  #77  
Old 09-24-2018, 04:05 PM
ch1rontl34 ch1rontl34 is offline
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Quote:
Originally Posted by SweepingRocks View Post
I feel like I've got all the basics down, but I'm still tripping up on more advanced problems.

My EL is 5.6
I'm stuck at an earned level of 4 using ADAPT. I need to improve my semiparametric and nonparametric credibility abilities. I also have some weak spots in ratemarking, mostly with relativities.
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  #78  
Old 09-24-2018, 08:32 PM
SweepingRocks SweepingRocks is offline
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Originally Posted by ch1rontl34 View Post
I'm stuck at an earned level of 4 using ADAPT. I need to improve my semiparametric and nonparametric credibility abilities. I also have some weak spots in ratemarking, mostly with relativities.
Funny, I was in that EXACT situation before last weekend. I've purely been using coaching actuaries for studying and their stam review videos for those subjects helped immensely.
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  #79  
Old 09-25-2018, 11:39 AM
ActuariallyDecentAtBest ActuariallyDecentAtBest is offline
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Originally Posted by SweepingRocks View Post
Funny, I was in that EXACT situation before last weekend. I've purely been using coaching actuaries for studying and their stam review videos for those subjects helped immensely.
I really wish they were bundled with ADAPT...
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  #80  
Old 09-25-2018, 10:55 PM
SunnyDale SunnyDale is offline
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I’m working on Problem 30 on Practice Exam 3 if ASM manual.

Claim counts follow a Poisson distribution.85 policy holders submitted 0 claims. The exact amount of claims submitted for 15 policyhers is unknown, but may be either 1 or 2. Information for policyholders submitting more than 2 claims is unavailable. Calculate the MLE of the probability that a policyholder will sum it exactly 1 claim.

In the solution, it says that the fitted probability of 1 or 2 must equal 15/85 of the fitted probability of 0.

Would anyone please help me understand where is the 15/85 coming from?

Thanks!
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