Rounding Rules
Hi,
The NCCI has some rules around how many decimal places certain calculations should be rounded to. Would it be possible to have a reference table which shows how many decimal places we should have for the NCCI calculations and the ISO calculations? Let me know if this already exists somewhere please. Thanks!
Comments
Please could you sketch an outline of the table you're thinking of.
The NCCI experience rating rounds to the nearest integer except for when dealing with interstate risks (rare to be asked) and when calculating the experience mod (two decimal places).
For the NCCI circular it's best to work with 3 decimal places except when working directly with the tables. In that case you should work with the same level of precision as the table you're using.
The ISO circular doesn't mention rounding. A good rule of thumb is following the precision of the figures in the tables you're working with. We haven't seen/heard the CAS penalizing for not explicitly rounding in the exam.