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Using the Standard Normal table to calculate the number of claims for full credibility is covered in the source material. The Fall 2019 Exam was tough… luckily I didn’t sit for that one or I might’ve failed. I just took the exam for the first time this sitting. Good luck to everyone!!
You are correct excuse my comment. However I would say that in about 99% of practice problems, we are just given the number of exposures or claims required for full credibility. I guess what i am saying is that for this sitting they really often either presented a new “twist” on a topic causing a deviation of some sort either large or small from the source material OR in this case with the standard normal example, they went deep into the syllibus and selected the least commonly practiced/mentioned topics (I forgot that this was even in the source material and of course I did not double check this before posting) for the exam.
Studyingissofun I just want to confirm something about the exam administration this time as it is CBD – are we still given the same amount of time to take the exam (I believe 6 minutes per question with a total of 4 hours is it)?
If this is the case, did you feel that you were able to finish the exam more quickly since you were using excel instead of just a calculator?
How much labeling do we have to show?
Like when we create triangles, is it necessary to write the AY’s and ages if it’s self explanatory?
Would we lose points if we don’t?Does anybody understand the uneven earnings pattern exposure question on the Fall 2019 exam (question 1)?
https://www.casact.org/admissions/studytools/exam5/f19-5.pdf
What would the answer to part a be if it was as of June 30, 2018 instead of March 31, 2018?
What would the answer to part d be if it was 2019 quarter 2 exposures instead of 2019 quarter 1?Yes. Start with the easy one- 2017 q 1 is clearly 5% bc started writing then. Next do 247.5/(100+450)= .45 for 2 q 2017 And so forth.
Hi there,
Would anyone have taken the time to setup the Exam 5 Werner & Modlin Appendix A data (or whichever other Appendix, I’ll take it!), into an Excel spreadsheet such that I could practice putting together underlying premium and loss data? The goal here is to allow me to practice building loss triangles and rate indications from scratch in Excel using the data provided in the Appendix. If someone already did half the work (i.e entering all the data into Excel!), please kindly do let me know. Any guidance on this would be very appreciated!
Yes q 2 would be (475 + 30) * .45 sorry this response wasn’t emailed to me you must not have replied directly to my thread.
I can’t say how many questions were on the exam, but the exam committee said that they were keeping the exams at a similar length even though it’s now computer-based. This was my first time taking Exam 5, but I think taking the exam in an Excel format is much quicker than paper/pencil/calculator. I’m glad I didn’t have to do this one with paper/pencil… I think I would’ve been way more pressed for time.
Yeah I took that yesterday and it felt on the easier side.
How do you go about deducting points against yourself?
I don’t really bother with deducting points as there is judgement involved and I don’t always know if an exam grader would have accepted or rejected my answer. I figure my time is better spent moving on to the next question!
How do you deduct points against yourself?
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