Methods for Finding Complements of Credibility: Harwayne’s Method and the Use of Competitors’ Rates: Practice Questions and Solutions
The Actuary’s Free Study Guide for Exam 5 – Section 94This territory of representation problems and solutions is a partial of The Actuary’s Free Study Guide for Exam 5 –>
, authored by Mr. Stolyarov. This is Section 94 of the Study Guide. See an index of all sections by following the link in this paragraph.This territory of the investigate beam is dictated to yield use problems and solutions to attend with the pages of Basic Ratemaking, cited below. Students have been speedy to review these pages prior to attempting the problems. This investigate beam is wholly an eccentric bid by Mr. Stolyarov and is not dependent with any organization(s) to whose textbooks it refers, nor does it paint such organization(s).Some of the questions here ask for short created answers formed on the reading. This is meant to give the tyro use in responding questions of the format which will crop up on Exam 5. Students have been speedy to sort their own answers initial and afterwards to review these answers with the solutions since here. Please note which the solutions supposing here have been not indispensably the usually probable ones. Source:Werner, Geoff and Claudine Modlin. Basic Ratemaking. Casualty Actuarial Society. 2009. Chapter 12, pp. 225-228.Original Problems and Solutions from The Actuary’s Free Study GuideProblem S5-94-1. You have been since the following information: There have been 3 classes used for rating: X, Y, and Z.There have been 3 states: J, K, and L.In State J:There have been 420 exposures for category X, and the pristine reward for category X is $333.There have been 550 exposures for category Y, and the pristine reward for category Y is $215.There have been 150 exposures for category Z, and the pristine reward for category Z is $761.In State K:There have been 120 exposures for category X, and the pristine reward for category X is $412.There have been 163 exposures for category Y, and the pristine reward for category Y is $125.There have been 600 exposures for category Z, and the pristine reward for category Z is $800.In State L:There have been 636 exposures for category X, and the pristine reward for category X is $312.There have been 642 exposures for category Y, and the pristine reward for category Y is $200.There have been 120 exposures for category Z, and the pristine reward for category Z is $620.
