Fall 2013 #16
In looking at the first proposed answer, as this was more or less the route I took, snip1.png has the examiners sounding off about an ultimate severity selection that they chose from developing severities. I calculated incremental severities as is done in the disposal rate method, (i.e. snip2). I took a screenshot and attached that as snip3. Would have worked as a solution?
Comments
The disposal rate method works in this problem but unless there is a reason to use it, it's quicker to use the method given in the examiners' report.
In past exam problems, they often tell you explicitly to use the disposal rate method when they want to test you on that. An exception was this problem:
where they wanted you to use the disposal rate method but did not say so. Instead, they told you there was legislative reform that caused certain changes. Then you had to realize these changes can't be handled as well by the simpler frequency-severity methods so the disposal rate method was appropriate there.
(I'm not sure what the examiner's were talking about when they said candidates didn't show the derivation of ultimates. I don't know how you would do the problem without deriving the ultimates.)