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Which projection method uses paid losses plus reserves on outstanding claims?
Suggested Answer: B
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32 comments · newest first
KA
Kate
11 months ago
Nope, it's not A or B, so C makes sense.
VA
Valentine
11 months ago
Just to clarify, it combines paid losses and reserves, right?
JO
Jolene
12 months ago
Wait, are we sure about that?
BO
Boris
12 months ago
I agree, C is the right choice!
DO
Dorsey
12 months ago
It's definitely the incurred loss method.
GA
Garry
1 year ago
I’m leaning towards incurred loss as well, but I wonder if there’s a trick in the wording of the question.
RO
Rosendo
1 year ago
I’m a bit confused; I thought average losses were related to overall trends, not specific claims.
GR
Gracia
1 year ago
I remember practicing a question like this, and I think the loss ratio method was more about comparing losses to premiums.
EM
Emile
1 year ago
I think the incurred loss method is the one that combines paid losses and reserves, but I'm not completely sure.
RE
Rene
1 year ago
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DE
Dexter
1 year ago
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YV
Yvonne
1 year ago
I'm pretty sure the answer is the user's password, since the sudo command is used to run commands as root, and it prompts for the user's password to authenticate.
RO
Ronald
1 year ago
As an actuary, I'm offended that 'None of the above' is even an option. Of course it's C, incurred loss. What kind of exam is this?
YA
Yaeko
1 year ago
I know, it's frustrating when exam questions are misleading.
TW
Twila
1 year ago
Yeah, it's definitely C, incurred loss.
CO
Coleen
1 year ago
I agree, 'None of the above' seems like a trick option.
CO
Coleen
1 year ago
Haha, D - None of the above? That's gotta be a trick answer. I'm going with C, the good old incurred loss method.
RE
Reita
1 year ago
I'm leaning towards A) Average losses, but now I'm not so sure.
LO
Lorenza
1 year ago
I'm not sure, but I think B) Loss ratio could also be a possibility.
JU
Julio
1 year ago
I think you might be right, C) Incurred loss does make sense.
CO
Corazon
1 year ago
I'm not sure, but I think it might be B) Loss ratio because it also considers the relationship between losses and premiums.
MO
Moira
1 year ago
D - None of the above? Really? This is a pretty straightforward actuarial concept. I'm confident it's C.
IV
Ivan
1 year ago
User 2: No, I'm pretty sure it's C - Incurred loss.
MI
Micah
1 year ago
User 1: I think it's B - Loss ratio.
LE
Leota
2 years ago
I was torn between B and C, but I'm going with C since it specifically mentions paid losses plus reserves. Seems like the more comprehensive approach.
CA
Carlene
2 years ago
I think it's option C - Incurred loss. That makes the most sense to me in terms of accounting for both paid losses and outstanding reserves.
RA
Raina
1 year ago
No problem! It's always good to double check and make sure you understand the different projection methods.
VI
Vivan
1 year ago
Oh, I see. Thanks for clarifying that. I wasn't sure about the other options.
MA
Markus
1 year ago
Yes, you're correct. Incurred loss is the projection method that uses paid losses plus reserves on outstanding claims.
GW
Gwenn
1 year ago
I think it's option C - Incurred loss. That makes the most sense to me in terms of accounting for both paid losses and outstanding reserves.
VI
Viki
2 years ago
I agree with Lisbeth, because it takes into account both paid losses and reserves.
LI
Lisbeth
2 years ago
I think the answer is C) Incurred loss.