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ShortTerm Actuarial Math Old Exam C Forum 

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#61




Quote:
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#62




Quote:
Hi Ginerv, I'm not sure that agree with you. If a policy is issued on 3/10/CY2 and has a loss 9 months and 5 days later, then it's still in is first policy year. I'm clearly missing something but not sure what. Thank you.
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#63




Hi RockOn,
For PY1, the policy would have to have been issued any date between 1/1/CY1 and 12/31/CY1. The problem tells us that the policy was issued on 3/1/CY2, therefore it is associated with PY2.
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Last edited by Ginerv30; 09112018 at 12:59 PM.. 
#64




Working on the SOA326
I'm looking at the solution for 23 and I don't understand the expected counts for the three intervals are 15(2/theta) if we set theta>5. Specifically I don't know why there's a 2 in this. 
#65




I think my definition of policy year is different...
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#66




Quote:
The part where it's 15*(2/Theta)=30/Theta Is just for the first interval. The first interval runs between 0 and 2. So for the first interval, the probability of the loss falling between 0 and 2 is 2/theta because the distribution is uniform. So we multiply the probability times the total exposures (5+5+5=15) to get 30/theta. The probabilities for the next two intervals are 3/theta and 1(5/theta) respectively. They are not all 2/theta. In short, 2/theta is the probability
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Former Disney World Cast Member, currently no idea what I'm doing "I think you should refrain from quoting yourself. It sounds pompous."  SweepingRocks Last edited by SweepingRocks; 09122018 at 03:13 PM.. Reason: Picture wasn't formatting 
#67




Is this thread quiet because you're all understanding the material? I'm struggling on some small things, but I think I'm feeling good about taking STAM on the 8th
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Former Disney World Cast Member, currently no idea what I'm doing "I think you should refrain from quoting yourself. It sounds pompous."  SweepingRocks 
#68




Same. I'm almost done with the material but I do like the feeling of cohesion between a good amount of the topics (except for general insurance stuff. Feels like a misc. compared to the rest of the material.) Taking MLC first and then this makes me feel so much better.

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