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Exam 5

This class was created by Brainscape user Katie Fay. Visit their profile to learn more about the creator.

By: Katie Fay
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Decks in this class (14)

W&M Ch 1-3
Define exposure x,
Product pricing fundamental equation,
What are the premium measurement ...
63  cards
W&M Ch 4
What criteria should a good expos...,
Define exposure,
Describe criteria for exposure ba...
13  cards
W&M Ch 5
Adjustments to historical premium,
Calendar year aggregation and acc...,
Policy year aggregation of premium
27  cards
W&M Ch 6
Ultimate loss,
Reported loss aka case incurred loss,
Allocated loss adjustment expense...
28  cards
W&M Ch 7
Fixed expenses,
Variable expenses,
All variable expense method
20  cards
W&M Ch 8
Pure premium method,
Loss ratio method,
Loss ratio vs pure premium methods
3  cards
W&M Ch 9
Adverse selection,
Process will continue until,
Speed and severity of process dep...
7  cards
W&M Ch 10
Briefly describe the shortcoming ...,
Identify the circumstances that l...,
Identify the benefits of multivar...
14  cards
W&M Ch 11
Challenges to territorial ratemaking,
Territorial ratemaking generally ...,
Two major issues calculating the ...
28  cards
W&M Ch 12
Necessary criteria for measures o...,
Methods for determining credibili...,
Advantage of the classical credib...
24  cards
W&M Ch 13
Briefly describe five reasons us ...,
Briefly describe four actions a c...,
Briefly describe two operational ...
12  cards
W&M Ch 14
Non pricing solutions,
Potential action to change mix of...,
What are the necessary steps in c...
13  cards
W&M Ch 15
Considerations when pricing comme...,
Manual rate modification mechanisms,
Rating techniques for large comme...
15  cards
W&M Ch 16
Retroactive date,
Tail coverage,
Report year lag
7  cards

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Exam 5

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