Exam 5

Foreword

• docs/actuarial/exam-5/Tips
• AJ
• Wording
• Careful

Insurance Basics

• The Insurance Product
• Pre (While buying)
  • Policy Purchasing Process
    • Workers Comp
  • Policy Data
  • Data Aggregation
• Post (While claiming)
  • Claims Data
• Insurer Performance & Profit

Ratemaking

• Imbalanced Data
• Large Events
• One-time Adjustments
• Trends
• Development Development of Reservesves]]
  • Diagnostic Triangles
• Expenses & Profits
• Overall Indication
• Claims-made Policies

Classification

• Risk Classification
• Univariate Classification
• Multivariate Classification
• Special Classification
• Credibility
• Individual Risk Rating

Implementation

• Other Considerations
• Implementation

Reserving

• Reserving Goals
• Chain Ladder
• Expected Claims Method
• Bornhuetter-Ferguson (B-F)
• Cape Cod
• F-S Method
• Case Outstanding
• B-S Method
• Evaluation

Other Components

• Recoveries
• ALAE (Adjusting & Loss Adjustment Expense)
• ULAE (Unallocated Loss Adjustment Expense)

Werner Appendices

• Private Passenger Auto - Property Damage
• Homeowners
• Medical Malpractice
• Workers Compensation