FAP EOM Assessment 5

[m c]

I have failed this EOM Assessment for a second time.

I know we can’t talk specifics, but I’m just curious, did anyone else have a hard time with this one, or am I alone?

The grader feedback isn’t very helpful either:

Provides the correct answer with an appropriate amount of supporting work, adequate for an actuary to follow and reproduce the answer: No
The tone of the internal memo is appropriate for the intended audience, e.g. the level of formality is appropriate, memo length is not excessive, and context is provided when needed: Yes
The tone of the email response is appropriate for the intended audience, e.g. the level of formality is appropriate, email length is not excessive, and context is provided when needed for the non-actuarial audience: Yes
The analysis of the factors behind higher than expected rate increases is clear, key points are outlined, and the analysis goes into an appropriate level of detail: No
Recommendations for points of action are clear and are at the top of the email: Yes
Recommendations for points of action are appropriate to reduce the rate of increase and mitigate future volatility: No
The support for recommended points of action includes sufficient discussion of relevant considerations: No

Not sure how am I supposed to submit my 3rd attempt…

[Michael Patton]

I submitted this one a month ago and while I’ve not gotten it back yet, I did find it quite difficult.

[quant_wannabe]

Can we all discuss it together? my 3rd attempt and I want to make sure I pass for certain this time…

[de jesus leah]

Same boat here.

Take 1 Feedback:

Provides the correct answer with an appropriate amount of supporting work, adequate for an actuary to follow and reproduce the answer: No
The structure of the internal memo is appropriate for the intended audience, e.g. starts with the bottom line, includes a clear conclusion, shows calculations without distracting from the body of the memo: No
Recommendations for points of action are clear and are at the top of the email: No
Recommendations for points of action are appropriate to reduce the rate of increase and mitigate future volatility: Yes
The support for recommended points of action includes sufficient discussion of relevant considerations: Yes
The tone of the internal memo is appropriate for the intended audience, e.g. the level of formality is appropriate, memo length is not excessive, and context is provided when needed: No

Take 2 feedback:

Provides the correct answer with an appropriate amount of supporting work, adequate for an actuary to follow and reproduce the answer: No
The structure of the internal memo is appropriate for the intended audience, e.g. starts with the bottom line, includes a clear conclusion, shows calculations without distracting from the body of the memo: No
Recommendations for points of action are appropriate to reduce the rate of increase and mitigate future volatility: Yes

I can’t imagine how I’m wrong in the first part because I based in on Example 3.1 from the book Introduction to Ratemaking and Loss Reserving. I feel like they’re asking something not in the task itself.

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[de jesus leah]

What i do not understand is the feedback the second time around seems to be shorter. I was expecting the same but with just yes or no.

[de jesus leah]

Started a discord for this. https://discord.gg/KZJwWFG4

[Author]

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