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Average severities projection method uses various claim count and average cost per claim date on either a paid or insured basis.
Suggested Answer: A
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44 comments · newest first
SH
Sharen
10 months ago
I thought it was only for paid claims, interesting!
SH
Sharen
10 months ago
Yep, it's based on either paid or insured data.
SH
Shay
10 months ago
Wait, are we sure about that? Sounds a bit off.
EU
Eulah
10 months ago
That's true, it uses both claim counts and costs.
BE
Bettina
10 months ago
Totally agree, it's a solid method for projections.
NA
Nakita
11 months ago
From what I recall, the average severities projection method definitely relates to claim counts, but I can't remember if it explicitly mentions the basis being paid or insured.
SY
Sylvia
11 months ago
I'm a bit confused about the specifics of the method. I thought it only focused on one basis, but now I'm questioning that.
HU
Huey
11 months ago
I remember practicing a question similar to this, and I believe it was true that the method uses both claim count and average cost.
LA
Latosha
11 months ago
I think the average severities projection method does involve both claim counts and average costs, but I'm not entirely sure if it applies to both paid and insured bases.
SU
Sunshine
12 months ago
This seems like a pretty standard actuarial exam question. I've covered this topic in my studies, so I'm feeling pretty good about being able to tackle this one.
LU
Lucina
12 months ago
I'm a bit confused by the wording of this question. I'll need to re-read it a few times and make sure I understand the key concepts before attempting to answer.
MI
Micheal
12 months ago
Okay, let me break this down. The question is asking whether the average severities projection method uses claim count and average cost per claim data on a paid or insured basis. I think I can work through this step-by-step and arrive at the right answer.
PH
Phil
1 year ago
Hmm, I'm not entirely sure about this one. The question is asking about the definition of the average severities projection method, and I'll need to think carefully about the key details involved.
RE
Reid
1 year ago
This looks like a straightforward true/false question about the average severities projection method. I'm pretty confident I can handle this one.
DI
Dick
1 year ago
If I had a dollar for every time I've seen this type of question, I'd be sipping mojitos on a beach right now. Definitely B.
EL
Elmira
1 year ago
Actuarial exams, where the right answer is always the one you least expect. I'm going to go with my gut and say B.
AN
Antonette
1 year ago
I agree, I'll go with B as well.
FA
Fatima
1 year ago
I'm not sure, but I'll go with B.
AM
Amie
1 year ago
I think it's A.
AR
Arlean
1 year ago
But the method does involve using claim count and average cost per claim, so I think it's true.
LE
Lezlie
1 year ago
Whoa, this question is straight out of the textbook. A all the way, baby!
JA
Janine
1 year ago
Yep, that's the correct answer.
OD
Odelia
1 year ago
I agree, it's definitely true.
RE
Rene
1 year ago
True
LI
Lina
1 year ago
A
VI
Virgina
1 year ago
Nope, it's true!
ST
Stephania
1 year ago
B) False
BO
Bobbye
1 year ago
Definitely true!
OT
Otis
1 year ago
A) True
AN
Antonio
1 year ago
Ah, the age-old debate of paid vs. insured basis. This is a tricky one. I'll have to think it through carefully.
KA
Karrie
1 year ago
B) False
RO
Rosendo
1 year ago
A) True
FA
Farrah
2 years ago
I'm pretty sure I learned this in my actuarial classes. Better double-check, but I'm feeling confident about B.
JO
Joni
1 year ago
I agree with you, I also think it's A.
AL
Aleshia
1 year ago
I'm going with A on this one.
AB
Abraham
1 year ago
I remember learning about this too, and I'm pretty sure it's B.
LA
Lamar
1 year ago
I think it's A, actually.
CA
Casie
1 year ago
I agree with you, I also think it's A.
ES
Essie
1 year ago
I'm going with A on this one.
VI
Vivienne
1 year ago
I remember learning about this too, and I'm pretty sure it's B.
AD
Adell
1 year ago
I think it's A, actually.
MA
Maurine
2 years ago
This sounds like something I should definitely know for the exam. Let's see... Paid or insured basis? Hmm, I'll go with A.
BL
Blair
2 years ago
I disagree, I believe it's B) False.
AR
Arlean
2 years ago
I think the answer is A) True.