In Chapter 3 of an FAP required reading “Introduction to Ratemaking and Loss Reserving for Property,” the author states, “In setting rates, it is essential that the ultimate loss development be included. The premium charged for any cohort of policyholders must be enough to pay in full all of the losses that arise.” However, in the excel workbook provided for Module 5, there are no cells highlighted in yellow available to calculate estimated claims that are incurred but not yet reported for accident years 2016-2019. It’s my understanding FAP candidates should only be modifying cells highlighted in yellow in the module workbooks. Is this correct? Or should candidates fully develop incurred losses for each accident year (up to four years after incidence) in separate cells not highlighted in yellow?