Hi everyone,
I just fixed a typo in the problem knowledge checklist on page 26 of the Retro Rating papers. The formula E[A] = E[A*] + PF had an extra equal sign instead of the plus sign.
Thanks,
Josh
Hi everyone,
I updated the Teng problem set today, since in the solution for 2004 Q48, I had inadvertently copied over an assumption that the insurance charge and ELPPF apply to loss and ALAE combined from another problem. I’ve removed this assumption.
Thanks,
Josh
Hi everyone,
I re-created the video for Anderson 2012 Q2 since in the prior video I had written the model as if it was a classical linear model. In the revised video, I write it in GLM form.
Thanks,
Josh
Hi everyone,
I just posted a correction to the solution to 2001 Q31(b) in the Gillam & Snader 2 problem set. The logic was updated, though the final answer remained unchanged.
Thanks,
Josh
Hi everyone,
I made a few corrections today and one yesterday:
1. In the Mahler 1 paper, I corrected the formula for Limited Fluctuation credibility on page 4 of the study guide.
2. In the Mahler 1 paper, I corrected a typo on page 3 of the study guide that said “weighted less squares” instead of “weighted least squares”.
3. I re-recorded the Mahler 1 detail video in light of the above changes.
4. I fixed a typo on page 13 of the Retro rating papers study guide that said “trail and error” instead of “trial and error”.
5. I re-uploaded the first Anderson detail video to correct 2 things. First, the beta vector on slide 5 when discussing matrix notation should have been written vertically, but it was written horizontally. Second, my definition of “monotonic” on slide 8 was slightly incorrect as I said “strictly increasing or strictly decreasing”, but it should have been “non-decreasing or non-increasing”.
6. I re-uploaded the second Anderson detail video since the video quality was previously poor. There were no changes to the video content.
Thanks,
Josh
Hi everyone,
I just updated the Clark videos to coincide with the handout updates made on 6/27/2014. I updated Clark details videos 2, 3, 5, and 6 and the Clark problem video.
Thanks,
Josh
Hi everyone,
I just posted a correction in the Clark guide. On page 10 of the study manual, I had used the words “exposure rating loss cost” when I really meant to say “exposure factors” near the bottom of the page. This is because the exposure factors are a percent of loss, while loss costs would be a percent of subject premium.
Thanks,
Josh
Hi everyone,
In addition to the correction posted earlier today, I was able to post a few new things today as well:
1. I realized I had omitted 2011 Q3 and 2011 Q23 from the problem sets. I added 2011 Q3 to the Anderson problem set, and 2011 Q23 to the Fisher problem set. Related to this, in the past exam point distribution file I had previously shown 2011 Q23 as related to Gillam & Snader 2, but I corrected this to show as Fisher.
2. I posted the complete exams for 2011, 2012, and 2013 with my solutions. I also posted updated combined past exams for 2009 and 2010 with my solutions. You can use all of these as additional practice exams, and you can find them under Additional Material -> Past Exams Modified for Current Syllabus.
Thanks,
Josh
Hi everyone,
I posted a corrected solution in dollars to 2002 Q36 on page 7 of the Brosius problem set. Previously the solution was being multiplied by the expected loss ratio, but this was incorrect.
Thanks,
Josh
Hi everyone,
I posted 2 corrections to solutions in the Gillam & Snader 2 problem set:
1. I corrected the last bullet in the solution for 2002 Q40(b) on page 22 of the problem set to say “raise” the minimum premium instead of “lower” the minimum premium.
2. I fixed the solution for 2002 Q15 on page 21 of the problem set. Previously the solution solved for the entry difference balance equation, not the value difference.
Thanks,
Josh