{"text_format":"3","workbook":"xlsx","n_sheets":23,"sheets":["Instructions","TOC","1","2","3","4","5","6","7","8","9","10","11","12","13","14","15","16","17","18","19","20","21"],"not_rendered":{"images":1},"read":"whole","date_system":"1900"}

{"sheet":"Instructions","index":0,"n_rows":24,"n_cols":7,"rows_kept":24}
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["Instructions"]
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["This file is used with the BattleActs web-based templates to give you unlimited versions of core calculation problems."]
[]
["    On the BattleActs Main Page, under \"Combat Training\" click on \"BattleCards - Web-based problems\"."]
["    Choose a problem you wish to practice and note the question description."]
["    Use the Table Of Contents worksheet to locate the relevant question."]
["    In your browser, highlight and copy all text below the Submit/New/Formulas/CHEAT!/Back buttons."]
["    Paste using \"Match Destination Formatting\" into the",{"$nulls":4},"highlighted cell","in the worksheet."]
[]
["    You're now ready to solve the problem in Excel. "]
[]
["    When you're done, type or paste your answers back into the browser then click submit to score your work."]
[]
["Click the \"New\" button in the browser to generate a new version of the problem and repeat the steps above."]
[]
["Please let BattleActs know about your experience; we're always looking for ways to improve our products."]
[]
["slay the beast"]

{"sheet":"TOC","index":1,"n_rows":31,"n_cols":3,"rows_kept":31,"merged":[[4,0,5,5],[7,0,7,5]]}
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["Exam 8"]
[]
[]
["PowerPack"]
[]
["Problem","Reading","Description"]
[1,"Fisher.ExpRating","Quintiles Test: Select the most appropriate answer from the given choices"]
[2,"Clark.Reinsurance","Calculate losses under a surplus share treaty"]
[3,"Clark.Reinsurance","Calculate commissions using a sliding scale"]
[4,"Clark.Reinsurance","Calculate the profit commission (easy)"]
[5,"Clark.Reinsurance","Calculate the impact of a loss corridor from the reinsurer's perspective"]
[6,"Clark.Reinsurance","Calculate the reinsurer's expected loss ratio net of the loss corridor"]
[7,"Fisher.TableL","Use the ICRLL procedure to calculate the policy loss cost"]
[8,"Fisher.RiskSharing","Calculate the expense portion of the basic premium as a percentage of the guaranteed-cost premium"]
[9,"Fisher.RiskSharing","Calculate the retrospective rating premium"]
[10,"Fisher.OtherLSPlans","Calculate the premium for a large dollar deductible plan"]
[11,"Mahler.Credibility","Calculate the optimal accident year weights"]
[12,"Clark.PropertyCAT","Calculate the reinstatement premium for a pro-rata as to amount treaty"]
[13,"Clark.PropertyCAT","Calculate the reinstatement premium for a pro-rata as to time treaty"]
[14,"Clark.PropertyCAT","Calculate traditional and finite risk underwriting results"]
[15,"Fisher.LimitedTableM","Determine the total loss cost for a policy with a per-occurrence limit and an aggregate limit"]
[16,"Fisher.LimitedTableM","Calculate the insurance charge for a workers' compensation policy"]
[17,"Fisher.AggExcess","Calculate the insurance payments under a policy with per-occurrence and aggregate deductibles (version 1)"]
[18,"Fisher.AggExcess","Estimate the net insurance charge at a given entry ratio"]
[19,"Fisher.AggExcess","Calculate the Table M Charge and insurance charge given a uniform aggregate loss distribution"]
[20,"Fisher.AggExcess","Calculate the Table M Savings and insurance charge given an exponential aggregate loss distribution"]
[21,"Fisher.AggExcess","Calculate the insurance payments under a policy with per-occurrence and aggregate deductibles (version 2)"]

{"sheet":"1","index":2,"n_rows":9,"n_cols":8,"rows_kept":9}
["Select the most appropriate answer from the given choices.",{"$nulls":6},"TOC"]
[]
["The standard loss ratios have a downward trend across the quintiles.",{"$nulls":4},"← Right click then paste using Match Destination Formatting into cell A3."]
[]
["i","The experience rating plan does a good job at identifying differences between individual risks"]
["p","The experience rating plan does a poor job at identifying differences between individual risks."]
["g","The experience rating plan does a good job at adjusting for differences between individual risks."]
["l","The experience rating plan places too little credibility on the individual loss experience."]
["h","The experience rating plan places too much credibility on the individual loss experience."]

{"sheet":"2","index":3,"n_rows":19,"n_cols":8,"rows_kept":19}
["Complete the tables to determine the reinsurer's payments under the surplus share treaty.",{"$nulls":6},"TOC"]
[]
["A surplus share treaty has the following properties:",{"$nulls":4},"← Right click then paste using Match Destination Formatting into cell A3."]
[]
["Retained Line:",{"v":160000,"d":"$160,000"}]
["1st Surplus:","5 Lines"]
["Risk","(1)","(2)","(3)","(4)"]
[null,"Insured Value","Retained Portion","1st Surplus Reinsured Portion","1st Surplus %"]
[1,{"v":16000,"d":"16,000"}]
[2,{"v":160000,"d":"160,000"}]
[3,{"v":338000,"d":"338,000"}]
[4,{"v":395000,"d":"395,000"}]
[5,{"v":650000,"d":"650,000"}]
[6,{"v":6157000,"d":"6,157,000"}]
["Risk","(5)","(6)"]
[null,"Size of Loss","Reinsurer Pays"]
[2,{"v":120100,"d":"120,100"}]
[4,{"v":89100,"d":"89,100"}]
[6,{"v":4109900,"d":"4,109,900"}]

{"sheet":"3","index":4,"n_rows":14,"n_cols":6,"rows_kept":14}
["Complete the table to determine the commission paid for each average loss ratio.",{"$nulls":4},"TOC"]
[]
["A reinsurance treaty contains a sliding scale commission provision with the following properties:",{"$nulls":3},"← Right click then paste using Match Destination Formatting into cell A3."]
["Provisional Commission:",{"v":0.25,"d":"25.0%"}]
["Minimum Commission:","18.0% at a 70.0% loss ratio"]
["Sliding 1:1 to:","23.0% at a 65.0% loss ratio"]
["Sliding 0.5:1 to a Maximum:","28.0% at a 55.0% loss ratio"]
["(1)","(2)","(3)","(4)"]
["Range of Loss Ratios","Average Loss Ratio in Range","Probability of being in Range","Commission at Average Loss Ratio"]
["0% — 55.0%",{"v":0.47,"d":"47.0%"},0.023]
["55.0% — 65.0%",{"v":0.64,"d":"64.0%"},0.283]
["65.0% — 70.0%",{"v":0.66,"d":"66.0%"},0.371]
["70.0% — or above",{"v":0.87,"d":"87.0%"},0.323]
["0% or above",null,{"v":1,"d":"1.000"}]

{"sheet":"4","index":5,"n_rows":7,"n_cols":7,"rows_kept":7}
["Calculate the primary insurer's profit commission percentage.",{"$nulls":5},"TOC"]
[]
["Profit Commission Percentage",null,null,"← Right click then paste using Match Destination Formatting into cell A3."]
["Actual Loss Ratio",{"v":0.623,"d":"62.3%"}]
["Ceding Commission",{"v":0.272,"d":"27.2%"}]
["Expense Provision (margin)",{"v":0.122,"d":"12.2%"}]
["Percent of Reinsurer Profit Returned",{"v":0.345,"d":"34.5%"}]

{"sheet":"5","index":6,"n_rows":12,"n_cols":9,"rows_kept":12}
["Complete the table to determine the impact of the loss corridor from the reinsurer's perspective.",{"$nulls":7},"TOC"]
[]
["A reinsurance treaty contains a loss corridor with the following properties:",{"$nulls":4},"← Right click then paste using Match Destination Formatting into cell A3."]
["Loss ratio before corridor:",{"v":1.08,"d":"108.0%"}]
["Corridor percentage:",{"v":0.41,"d":"41.0%"}]
["Corridor","42.0% to 54.0%"]
["(1)","(2)","(3)"]
["Range of Loss Ratios","Before Corridor","After Corridor"]
["Below corridor",{"v":0.42,"d":"42.0%"}]
["Within corridor",{"v":0.12,"d":"12.0%"}]
["Above corridor",{"v":0.54,"d":"54.0%"}]
["Total Loss Ratio",{"v":1.08,"d":"108.0%"}]

{"sheet":"6","index":7,"n_rows":13,"n_cols":6,"rows_kept":13}
["Calculate the reinsurer's expected loss ratio net of the loss corridor.",{"$nulls":4},"TOC"]
[]
["A reinsurance treaty contains a loss corridor with the following properties:",{"$nulls":3},"← Right click then paste using Match Destination Formatting into cell A3."]
["Loss ratio before corridor:",{"v":0.631,"d":"63.1%"}]
["Corridor percentage:",{"v":0.33,"d":"33.0%"}]
["Corridor:","46.0% to 64.0%"]
["(1)","(2)","(3)","(4)"]
["Range of Loss Ratios","Average Loss Ratio in Range","Probability of Being in Range","Loss Ratio Net of Loss Corridor"]
[null,"(Before Corridor)"]
["0% to 46.0%",{"v":0.45,"d":"45.0%"},0.471]
["46.0% to 64.0%",{"v":0.6,"d":"60.0%"},0.326]
["64.0% or greater",{"v":1.1,"d":"110.0%"},0.203]
["0% or above",{"v":0.631,"d":"63.1%"},{"v":1,"d":"1.000"}]

{"sheet":"7","index":8,"n_rows":24,"n_cols":9,"rows_kept":24}
["Using the ICRLL method, calculate the total loss cost for the Workers' Compensation policy below.",{"$nulls":7},"TOC"]
[]
["A Workers' Compensation policy has the following characteristics:",{"$nulls":6},"← Right click then paste using Match Destination Formatting into cell A3."]
[{"v":250000,"d":"$250,000"},"Per-occurrence Limit"]
[{"v":600000,"d":"$600,000"},"Aggregate Limit"]
[{"v":630000,"d":"$630,000"},"Expected Unlimited Aggregate Loss"]
[{"v":430000,"d":"$430,000"},"Expected Limited Aggregate Loss"]
["The state/hazard group adjustment factor is 0.92."]
["You may use the information in the tables below."]
["Expected Loss Group","Range of Values"]
[31,"$740,001— $850,000"]
[30,"$850,001— $1,010,000"]
[29,"$1,010,001— $1,200,000"]
[28,"$1,200,001— $1,435,000"]
[27,"$1,435,001— $1,764,000"]
[26,"$1,764,001— $2,234,000"]
["Table M","Expected Loss Group"]
["Entry Ratio",31,30,29,28,27,26]
[0.702,0.4496,0.4405,0.4351,0.4272,{"v":0.394,"d":"0.3940"},0.3541]
[0.952,0.4236,0.3594,0.3533,0.3506,{"v":0.349,"d":"0.3490"},0.3469]
[1.395,0.3462,0.3316,{"v":0.319,"d":"0.3190"},0.2706,{"v":0.25,"d":"0.2500"},0.2361]
[3.413,0.2751,0.2605,0.2396,0.2342,{"v":0.208,"d":"0.2080"},0.1995]
[3.663,{"v":0.162,"d":"0.1620"},{"v":0.145,"d":"0.1450"},0.1437,0.1311,0.1307,0.1289]
["Policy Loss Cost:"]

{"sheet":"8","index":9,"n_rows":6,"n_cols":9,"rows_kept":6}
["Calculate the expense portion of the basic premium as a percentage of the guaranteed-cost premium.",{"$nulls":7},"TOC"]
[]
["Percentage of Guaranteed-Cost Premium",null,null,"← Right click then paste using Match Destination Formatting into cell A3."]
["Loss Conversion Factor",1.209]
["Expected Loss Ratio",{"v":1.051,"d":"105.1%"}]
["Expense Ratio",{"v":0.345,"d":"34.5%"}]

{"sheet":"9","index":10,"n_rows":16,"n_cols":9,"rows_kept":16}
["Use the information below to calculate the retrospective rating premium for the policy.",{"$nulls":7},"TOC"]
[]
["A retrospectively rated policy has the following properties:",{"$nulls":4},"← Right click then paste using Match Destination Formatting into cell A3."]
["Basic Premium Amount:",{"v":163000,"d":"$163,000"}]
["Loss Conversion Factor:",{"v":1.57,"d":"1.570"}]
["Tax Multiplier:",1.003]
["Per-Occurrence Limit:",{"v":125000,"d":"$125,000"}]
["Maximum Ratable Loss:",{"v":550000,"d":"$550,000"}]
["Large Claims"]
[{"v":38000,"d":"$38,000"},{"v":135000,"d":"$135,000"}]
[{"v":68000,"d":"$68,000"},{"v":643000,"d":"$643,000"}]
[{"v":102000,"d":"$102,000"}]
["There are 17 claims on the policy. Of these, 12 are only known to be below the per-occurrence limit and total $53,000."]
["The other 5 claims are given in the large claims table above."]
[]
["Retrospective Rating Premium:"]

{"sheet":"10","index":11,"n_rows":12,"n_cols":4,"rows_kept":12}
["Use the information below to calculate the premium for a large dollar deductible plan.",null,null,"TOC"]
[]
[{"v":175000,"d":"$175,000"},"Deductible",null,"← Right click then paste using Match Destination Formatting into cell A3."]
[{"v":400000,"d":"$400,000"},"Aggregate Deductible"]
[{"v":281000,"d":"$281,000"},"Expected Unlimited Loss"]
[{"v":228000,"d":"$228,000"},"Expected Loss Limited to $175,000 per-occurrence"]
[{"v":200000,"d":"$200,000"},"Expected Loss Limited to $175,000 per-occurrence and $400,000 in aggregate"]
[{"v":37000,"d":"$37,000"},"Fixed Expense"]
[{"v":2000,"d":"$2,000"},"UW Profit Provision"]
[{"v":0.015,"d":"1.5%"},"Premium Tax"]
[{"v":0.133,"d":"13.3%"},"Loss Based Expenses"]
["LDD Premium:"]

{"sheet":"11","index":12,"n_rows":14,"n_cols":4,"rows_kept":14}
["Calculate the accident year weights.",null,"TOC"]
[{"$nulls":3},"← Right click then paste using Match Destination Formatting into cell A3."]
["You have the two most recent loss ratios for a line of insurance and want to combine them to calculate a rate level indication."]
["Assume there are three years between the latest year of data and the average date of loss under the proposed rates."]
[]
["The following table describes the covariance structure:"]
["Separation in Years","Loss Ratio Covariance, C(k)"]
[0,0.00112]
[1,0.00077]
[2,0.00059]
[3,0.00046]
[4,0.00032]
["Determine the optimal least squares weights for each of the two years, assuming no external loss ratio information is used."]
["Oldest Accident Year Weight","Newest Accident Year Weight"]

{"sheet":"12","index":13,"n_rows":7,"n_cols":8,"rows_kept":7}
["Given the information below about a reinsurance treaty, calculate the reinstatement premium.",{"$nulls":6},"TOC"]
[]
["Occurrence Limit",{"v":15000000,"d":"$15,000,000"},null,"← Right click then paste using Match Destination Formatting into cell A3."]
["Annual Premium",{"v":2700000,"d":"$2,700,000"}]
["Reinstatement Provision:","124.0% pro-rata as to amount"]
["Actual Loss Amount",{"v":6750000,"d":"$6,750,000"}]
["Reinstatement Premium:"]

{"sheet":"13","index":14,"n_rows":8,"n_cols":8,"rows_kept":8}
["Given the information below about a reinsurance treaty, calculate the reinstatement premium.",{"$nulls":6},"TOC"]
[]
["Occurrence Limit",{"v":11500000,"d":"$11,500,000"},null,"← Right click then paste using Match Destination Formatting into cell A3."]
["Annual Premium",{"v":2200000,"d":"$2,200,000"}]
["Reinstatement Provision:","97.0% pro-rata as to time"]
["Actual Loss Amount",{"v":7245000,"d":"$7,245,000"}]
["Assume there are 7 months left in the 12-month treaty."]
["Reinstatement Premium:"]

{"sheet":"14","index":15,"n_rows":15,"n_cols":4,"rows_kept":15}
["Use the information below to assess finite and traditional reinsurance options.",null,null,"TOC"]
[]
["Annual Premium:",{"v":5400000,"d":"$5,400,000"},null,"← Right click then paste using Match Destination Formatting into cell A3."]
["Occurrence Limit:",{"v":14700000,"d":"$14,700,000"}]
["Profit Commission:","70.0% after 12.0% margin on annual premium"]
["Additional Premium:","60.0% of (loss + margin - annual premium)"]
["Calculate the nominal rate on-line:"]
["Calculate the underwriting result on a finite risk basis for the:"]
["Loss Free Scenario:"]
["One Full Loss Scenario:"]
["Calculate the premium and losses for an equivalent traditional risk program for the:"]
[null,"Loss Free Scenario","One Full Loss Scenario"]
["Premium:"]
["Loss:"]
["Calculate the rate on-line for the equivalent traditional risk program:"]

{"sheet":"15","index":16,"n_rows":22,"n_cols":4,"rows_kept":22}
["Use the information below to calculate the total loss cost for the policy.",null,null,"TOC"]
[]
["Table of Insurance Charges by Per-occurrence Deductible",null,null,"← Right click then paste using Match Destination Formatting into cell A3."]
["r","$20,000 Deductible","$30,000 Deductible"]
[{"v":1,"d":"1.00"},0.22,0.25]
[{"v":1.5,"d":"1.50"},0.13,0.15]
[{"v":2,"d":"2.00"},0.06,0.08]
[{"v":2.5,"d":"2.50"},0.02,0.03]
["Policy Characteristics"]
[{"v":70000,"d":"$70,000"},"Expected Unlimited Loss"]
[{"v":24000,"d":"$24,000.00"},"Expected Primary Loss at a per-occurrence limit of $20,000"]
[{"v":46153.85,"d":"$46,153.85"},"Expected Primary Loss at a per-occurrence limit of $30,000"]
[{"v":60000,"d":"$60,000"},"Aggregate Deductible"]
["Calculate the following:"]
["Suppose the policy has a $20,000 per-occurrence deductible"]
["The cost of the $60,000 aggregate deductible"]
["The cost of the $20,000 per-occurrence deductible"]
["The total cost of the policy:"]
["Suppose the policy has a $30,000 per-occurrence deductible"]
["The cost of the $60,000 aggregate deductible"]
["The cost of the $30,000 per-occurrence deductible"]
["The total cost of the policy:"]

{"sheet":"16","index":17,"n_rows":16,"n_cols":6,"rows_kept":16}
["Use the Limited Table M below to determine the appropriate insurance charge.",{"$nulls":4},"TOC"]
[]
["A Workers' Compensation policy has the following policy characteristics:",{"$nulls":4},"← Right click then paste using Match Destination Formatting into cell A3."]
["Table MD: Limited Insurance Charges with D = $300,000"]
[{"v":1700000,"d":"$1,700,000"},"Standard Premium"]
[{"v":300000,"d":"$300,000"},"Per-occurrence Deductible"]
[{"v":800000,"d":"$800,000"},"Aggregate Deductible"]
[1.17,"State/Hazard Group Relativity"]
[{"v":0.88,"d":"88.0%"},"Expected Unlimited Loss Ratio"]
[{"v":0.25,"d":"25.0%"},"Excess Ratio"]
["Entry Ratio","φD"]
[0.38,0.266]
[0.53,0.164]
[0.71,0.036]
[1.33,0.019]
["Insurance Charge:"]

{"sheet":"17","index":18,"n_rows":14,"n_cols":7,"rows_kept":14}
["Calculate the amount paid by the insured and the insurer under a per-occurrence and aggregate deductible policy.",{"$nulls":4},"TOC"]
[]
["A Commercial General Liability policy has a per-occurrence deductible and an aggregate deductible of:",{"$nulls":4},"← Right click then paste using Match Destination Formatting into cell A3."]
[]
["Per-Occurrence Deductible:",{"v":125000,"d":"$125,000"}]
["Aggregate Deductible:",{"v":550000,"d":"$550,000"}]
["Calculate the insurance payments and the insured's cumulative deductible payment for each quarter using the table below."]
[]
["Date","(1)","(2)","(3)","(4)","(5)","(6)"]
[null,"Dollars of Loss on Claims that are each less than $125,000","Number of Claims over $125,000","Ground-up Loss Dollars on Claims over $125,000","Deductible","Insurance Payment","Cumulative Deductible"]
["Q1",{"v":113000,"d":"$113,000"},0,{"v":0,"d":"$0"}]
["Q2",{"v":139000,"d":"$139,000"},3,{"v":669000,"d":"$669,000"}]
["Q3",{"v":143500,"d":"$143,500"},3,{"v":441000,"d":"$441,000"}]
["Q4",{"v":104500,"d":"$104,500"},3,{"v":942000,"d":"$942,000"}]

{"sheet":"18","index":19,"n_rows":13,"n_cols":8,"rows_kept":13}
["Use the information below to estimate the net insurance charge at the given entry ratio.",{"$nulls":6},"TOC"]
[]
["An insurer has five similar policies which have an aggregate limit and no per-occurrence limit. Each policy has the same expected loss."]
[{"$nulls":7},"← Right click then paste using Match Destination Formatting into cell A3."]
["Expected Loss:",{"v":236000,"d":"$236,000"}]
["Claim Number","Actual Loss"]
[1,{"v":165000,"d":"$165,000"}]
[2,{"v":235000,"d":"$235,000"}]
[3,{"v":243000,"d":"$243,000"}]
[4,{"v":268000,"d":"$268,000"}]
[5,{"v":269000,"d":"$269,000"}]
["Entry Ratio (r)","φ(r)","ψ(r)","$ Net Insurance Charge"]
[0.85]

{"sheet":"19","index":20,"n_rows":11,"n_cols":8,"rows_kept":11}
["Complete the table below by calculating the Table M Charges and Insurance Charges from first principles.",{"$nulls":6},"TOC"]
[]
["An aggregate loss distribution, A, has the following properties:",{"$nulls":3},"← Right click then paste using Match Destination Formatting into cell A3."]
[]
["A ~ Uniform [4, 130]","Aggregate Loss Distribution"]
[67,"Expected Aggregate Loss"]
["Actual Loss","(1)","(2)"]
[null,"Table M Charge","Insurance Charge"]
[52]
[67]
[98]

{"sheet":"20","index":21,"n_rows":11,"n_cols":9,"rows_kept":11}
["Complete the table below by calculating the Table M Savings and Insurance Charges from first principles.",{"$nulls":7},"TOC"]
[]
["An aggregate loss distribution, A, has the following properties:",{"$nulls":4},"← Right click then paste using Match Destination Formatting into cell A3."]
[]
["A ~ Exp(Θ)","Aggregate Loss Distribution"]
["Θ",5]
["Actual Loss","(1)","(2)"]
[null,"Table M Savings","Insurance Savings"]
[4.5]
[{"v":5,"d":"5.0"}]
[{"v":8,"d":"8.0"}]

{"sheet":"21","index":22,"n_rows":14,"n_cols":7,"rows_kept":14}
["Calculate the amount paid by the insured and the insurer under a per-occurrence and aggregate deductible policy.",{"$nulls":5},"TOC"]
[]
["A Commercial General Liability policy has a per-occurrence deductible and an aggregate deductible of:",{"$nulls":4},"← Right click then paste using Match Destination Formatting into cell A3."]
[]
["Per-Occurrence Deductible:",{"v":120000,"d":"$120,000"}]
["Aggregate Deductible:",{"v":630000,"d":"$630,000"}]
["Calculate the insurance payments and the insured's cumulative deductible payment for each quarter using the table below."]
[]
["Date","(1)","(2)","(3)","(4)","(5)","(6)"]
[null,"Dollars of Loss on Claims that are each less than $120,000","Number of Claims over $120,000","Excess Loss Dollars on Claims over $120,000","Deductible","Insurance Payment","Cumulative Deductible"]
["Q1",{"v":117500,"d":"$117,500"},0,{"v":0,"d":"$0"}]
["Q2",{"v":121500,"d":"$121,500"},0,{"v":0,"d":"$0"}]
["Q3",{"v":117500,"d":"$117,500"},1,{"v":55000,"d":"$55,000"}]
["Q4",{"v":99500,"d":"$99,500"},3,{"v":165000,"d":"$165,000"}]