Question 1
Losses follow an exponential distribution with mean 1,000. A policy has an ordinary deductible of 250 and a maximum covered loss of 2,250.
Calculate the expected payment per payment.
Exam FAM, topic by topic.
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Every topic, by weight
Coverages and reinsurance
5–10%
Loss models
12.5–17.5%
Estimation
2.5–7.5%
Credibility
2.5–5%
Pricing and reserving
10–15%
Options
2.5–7.5%
Long-term coverages
2.5–5%
Mortality
10–15%
Present values
12.5–20%
Premiums and policy values
15–22.5%
In the course
- 15 lessons
- 271 questions
- 2 practice exams