jasonchw
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Another type of question related to rating based method. If an expected cumulative default rates have been used to calculate URR, for each year, why we still need to sum the result of all year but not just using the last year? I was thinking the c…
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The wiki article only mentioned low yield and low price coverage and i don't understand how these 2 promotes over-production. My understanding is that over-production is encouraged only if the government will pay for the remaining crops that cannot …
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I am not clear about the treatment of structured settlement under SAP even i have read Odomirok page 330. It mentions: The accounting under SAP is the same as for structured settlements where a release is obtained. Does that mean the claim reserv…
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There are some conditions that insureds are ineligible for ARP. Is there any ineligible condition for RF and JUA?
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Hi Graham, i understand you ignored tax effect for simplicity in your explanation and there is no difference for the answer of this question. However, technically should we also consider the change in taxable income when we estimate the change in su…
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I tried to screen cap the formula shown in Alice solution to both 2015.F.13 and 2017.S.11 respectively. The formula are the same but 1 is to calculate Surplus for current year and 1 is to calculate mean surplus of 2 years.
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Sorry but i am also having the same confusion as Owarnock. For both questions, the following formula is used. Formula: SA = SR x [ m(LA) + m(LAEA) + m(UEPA) + NEPA(CY) ] However, 2017.S.11 is using the formula to hav…
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It seems that Alice solution to 2016.Fall #13 (the Odomirok.Ch14_(16F.13)_v5.pdf) has mixed up reinsurer A and B.
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If "deferred income tax" is a liability, why increase of net deferred income tax would mean an increase in surplus? (2017.Fall #10)
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Thanks. To clarify, even there is a -ve value for R5 like the question 2 in "4 practice problems like 2014.Fall #18", i should set it to 0 before further proceeding, right?
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In the function table, View IBNR/Case split uses part 4,5. I wonder why part 5 (claim count) is relevant to this. I would expect i need part 2,3,4 to calculate case outstanding reserve.
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Surplus aid = ceding commissions ratio * sum of unearned premium - Non-Affiliates. Why reinsurance premium ceded to affiliates are counted in calculating ceding commission ratio but the UEP only counts non-affiliates??
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I would like to ask another question for IRIS 6. Why borrowed money should be deducted from the denominator? If the insurer is able to borrow money with super low interest, it can borrow money to do investment (i.e. using leverage). Removing the bor…
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Hi Graham, I have another general question. Sometimes a question may ask you to provide 3 answers like the below example: Briefly describe three items the Appointed Actuary should consider in determining whether it is reasonable to use the work…