What's it like working for a B rated insurer?

dimanche 19 avril 2015

Did you try to get out of there as soon as you could? Did you take the job because you were that desperate for experience? Or were you brought in as a hero who could help the company dig itself out of its hole and given a nice compensation package?



Inquiring minds want to know.



:popcorn:





What's it like working for a B rated insurer?

Spring 2013 #10d

The solution uses NFNLP= Ax/ax.



Isnt NFNLP = Face * Ax/ax ?





Spring 2013 #10d

on this 4/20 Day...

:smoke:



Does anyone know if the story about Louis Armstrong using Richard Nixon as a drug mule is true or just legend?





on this 4/20 Day...

ILA LRM Fall 2014 #2(b)

(b) (3 points) Given the following loss distributions:



X

=5 with a probability of 0.800

=80 with a probability of 0.170

=500 with a probability of 0.030



Y

=10 with a probability of 0.850

=120 with a probability of 0.145

=2000 with a probability of 0.005



Calculate the 95% VaR and 95% CTE for X+Y, assuming X and Y are

independent. Show all work.



How is the distribution X+Y is obtained?



Thanks in advance.





ILA LRM Fall 2014 #2(b)

Black-Derman-Toy model

Been having very hard time understanding this topic. I'm using both TIA and ASM manual and I'm having problem understanding it overall. Any good way to understand this topic?



I'm having hard time understanding the time format of the problems, and how the models are laid out.



"determine the lognormal yield volatility of zero-coupon bonds with 2 years to expiry at time 1" I know that if the price is 100 at time 0, you are looking for a price to pay in 1 year that matures in year 3 (1st period on model). But then I don't understand how to read it on a 2 period model.



or



you have 2 period table, each intervals 6 months, question reads "determine lognormal yield volatility for 1-year bonds issued at the end of 6 months" can someone tell me what exact time period i'm supposed to look at? I know how to ultimately calculate the volatility, but I don't understand which time period to look at whenever these questions are laid out.



any help will be appreciated. thanks.





Black-Derman-Toy model

CAS and FEM

Can somebody explain how this works? Can students at (selected) Canadian Universities get credit for prelims by passing certain courses?

When these students get to ACAS or FCAS, is there any way to tell that they completed part of the requirements by college course?





CAS and FEM

SOA WA #4,6,8,16

Hey all, need a little bit of help understanding some SOA Sample WA topics I can't quite wrap my head around:



#4 Part A ii



Deriving Kolmogorov's...how do you get from line 3 of the solution to line 4...in line 4 you subtract tPx(00) and divide by (h)...how do you mathematically accomplish this?



#6 Part A ii



A shorter lifetime for Jim and Amy implies a positive covariance, how is this so?



#8 Part A



Why is the decrement due to death straight up = 12%? I calculated the decrement due to death using the UDDAST formula to account for dependent probability for lapse and got (.12)(1 - .1/2) = 11.4%...why is this wrong?



#16 Part C



The solution's note mentions that an interest rate lower than the risk discount rate would release profit sooner, thus increasing the Net Present Value...I can't visualize this, how exactly does a lower interest rate release profit sooner?





SOA WA #4,6,8,16

Old Folks on the AO.... when we were young(er)

I was looking for a post about something else on my livejournal, and I came across this:



http://ift.tt/1J1ksbG




Quote:










I cannot get enough of people smacking each other around at The Rebel Outpost.



Latest fun exchange:

24fan: Leave it to Westley (Mr. "I'll steal an old woman's pension as long as I gets paid") to recommend firing people.



To get you back for calling me a dick .... Westley, people like you are cockroaches and this forum is your roach motel, where you will spend the rest of eternity. What a great service this forum performs, keeping you out of society.



Elisha: Get a job in the actuarial field and be there for at least 6 months - then you can start talking smack.



(24fan has been talking crap all over the place, and getting smacked down each time. I think the moderators think he's too much fun to ban. Westley gave very good advice about when it's a good idea to fire an employee. Westley has employees, so he's got experience in this field; 24fan has got bupkus when it comes to job experience.)



I didn't remember any of this at all.



and this:

http://ift.tt/1aJmqyt




Quote:








Bitch fight!

I love a good bitch-slapping on the actuarial boards. Here's a quote from one thread:

Person A: I fail to understand what point that makes.



Person B: That's because you're denser than iridium and your college education failed you.



(Yes, there's more meat to it than that, mainly someone trying to point out you won't find actuarial jobs by looking at Monster.com. There aren't that many actuarial-types out there, so almost all actuarial jobs are posted through recruiters. Once you get to a certain level, they contact =you=, not vice versa. I'm not even credential yet, and I'm getting calls.)









Old Folks on the AO.... when we were young(er)

Captions Thread - Caption of the Month 03/2014

Caption of the Month March 2014...vote for your favorites! Top pick moves on to COTY.



03/2/2014

http://ift.tt/1aJmq1G



Picture for caption 1 – SilverMahatma







1. Italian Halibut: SilverMahatma - Foiled again...



Picture for captions 2 and 3 - Flippin











2. Chief Petosky: Flippin - "No thanks, I'm trying to stay away from fast food."

3. Arthur Itas: Flippin - I guess pancakes give them the runs





03/10/2014


http://ift.tt/1aJmnCO



Picture for captions 4 – Splash











4. Vorian Atreides: Splash - Don't mess with the Lohan!





Picture for captions 5, 6, 7 - BikeMoon





5. Chief Petosky: BikeMoon - The bike is actually his, but he's wishing it were a Loner.

6. Chief Petosky: BikeMoon - frummie up at the crack of Don to post this pic.

7. Arthur Itas: BikeMoon - I see a lot of arseholes on my daily commute



Pictures 8-11 – Robot Poles







8. JollyGoodFCAS: RobotPoles - WALL-E's bachelor party

9. RobotPoles - Flash-drive-dancers



Picture for 10-11 - Beer keg





10. DyalDragon: BeerKeg -

Quote:








Originally Posted by Cheerio

When you gonna let me tap that?...




11. JollyGoodFCAS: BeerKeg - And we all thought he was too old to be drafted





3/17/2014
http://ift.tt/1aJmnCS









Picture for 12:







12. Steve Grondin: Irish - I think she's after me lucky charms.



3/24/2014






Picture for 13:









13. DyalDragon: Snorkel - This time, McKayla actually was impressed.





Picture for 14:







14. faramir214: PaintingUnwrap - There is always that one person in the office who won't stick to the secret santa price limit.



Picture for 15







15. Chief Petosky: Cat - Captions Cafeteria, where you'll find the cats-up on the counter.







Picture for 16



16. DyalDragon: FacePlant - Coach: "Way to get your head in the game, Ethel!"









3/31/15


Picture for 17









17. Arthur Itas: ClockWork - Hey, that clock's got roamin' numerals





Captions Thread - Caption of the Month 03/2014

Examples of fair value and cash flow hedging

According to the readings, cash flow hedges are when you pay a fixed amount and receive a floating amount in return. Fair value hedges are when you pay a floating amount and receive a fixed amount in return.



Are there any good examples of these types of hedges? I suppose hedging a EIA with a call option would be a cash flow hedge. Are there any other big ones? What about fair value hedges?





Examples of fair value and cash flow hedging

2004 #21

So I was beating myself up over not matching the answer in TIA. Then I looked at CF and I matched the CF answer. Though both answers make sense. The old exam only matches the CF solution.



Essentially its a calculate the XSLDF problem.

They give you Expected ultimate limited and expected ulimate unlimited.

As well as reported at time t and the lmiited and unlimited LDF's.





CF uses the reported and the ldfs to come up with the XSLDF.



TIA uses the expected to come up with the XSLDF. Though now that I am typing this I think the CF and model solutions make more sense.



Thoughts?





2004 #21

Optimal Alcohol Consumption to Study In

At what point should I stop drinking and study?





Optimal Alcohol Consumption to Study In

Did you do all the TIA problems?

well, did ya?





Did you do all the TIA problems?

Fall 2014, Q6 - Requires knowledge of difference between products liability and WC

Specifically, the question starts out:




Quote:








A chemical used in manufacturing office desks has been found to cause a life-threatening disease.

a. For each of the following, describe whether an injured office worker would benefit more from the claim being filed under a workers' compensation policy instead of under a products liability policy:

  • The length of time between claim reporting and payment

  • The likelihood of payment

  • The amount of payment





So my question, why are we expected to know the difference between products liability and WC? Is this in the syllabus somewhere? Or is this because Online Course 2 is a prereq?





Fall 2014, Q6 - Requires knowledge of difference between products liability and WC

Strategic Risk

Someone give me a definition. TIA defines it as the intentional risk taking to achieve an organization's goals, and CF calls it unintentional risks that occur as a result of strategy planning or execution.



4 more days.





Strategic Risk

Plausibility factors

The numerator and denominator in the formula for the plausibility factor are both per 1000. Does this 1000 represent all members or just chronic members?





Plausibility factors

Exam study stress and people angry you aren't spending time with them

How do I deal with this? It's driving me crazy!



Imagine this is happening to you. How do you deal with these gossip types



"What kind of a husband is he??? He never spends any time with you on the weekend?



Couldn't he have studied months ago so he wouldn't need to study anymore now?

Can't he take a few days off the studying? It's all about him? He doesn't think about you! That's a problem."



"To tell you the truth I knew he would have to study for actuary exams, but not like THIS! I wish he could change jobs and do something else to make money. He's very smart so he shouldn't have to study this much anyway. He can study lunchtime on work days so he doesn't have to study on the weekends because my friends are noticing he's not with me all the time"



"Believe me we're all crossing our fingers and waiting till his exam is over. Thank god it's only 10 days away. Otherwise I would not be able to handle this much longer. It's embarrassing a man can't balance time for his spouse"



How do you cope with that?





Exam study stress and people angry you aren't spending time with them

2014 #22

When determining the Var99% levels for each business unit, the solution says we add the sigma*critical value to the mean.



But the mean is profit (not loss), so why would we include expected profit as contributing to capital held? This doesn't make sense, shouldn't expected profits deduct form capital held. If say we had 100% certainty we'd make $10 in profit. According to this method, we'd hold $10 in capital, when we wouldn't need to?



Why wouldn't the VaR99% = mean profit - critical value * sigma ?





2014 #22

S> ASM FM 11th and MFE 9th

Both manuals had been very helpful and in great condition, no marking in either.



FM Manual: 11th edition $83 (Free shipping)

MFE Manual: 9th edition $98 (Free shipping)





Shipping from Florida



Paypal preferred



PM me if interested, Thanks!





S> ASM FM 11th and MFE 9th

S> ASM FM 11th and MFE 9th

Both manuals had been very helpful and in great condition, no marking in either.



MFE Manual: 9th edition $98 (Free shipping)

FM Manual: 11th edition $83 (Free shipping)



Shipping from Florida



Paypal preferred



PM me if interested, Thanks!





S> ASM FM 11th and MFE 9th
 

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