I just did Fall 2013 yesterday as a practice exam. I noticed on Q5, in the official solution, they do an exposure trend in the denominator of the loss ratio calculation (but not in the numerator).
The TIA solution (and my solution) say that exposure trend will cancel in a Loss Ratio calculation. Thats true, right? How can the official solution still be wrong years later? I would have thought people would have challenged this at some point...
The TIA solution (and my solution) say that exposure trend will cancel in a Loss Ratio calculation. Thats true, right? How can the official solution still be wrong years later? I would have thought people would have challenged this at some point...
Fall 2013 #5
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