Exam B-01, #9b
Hi there! When calculating the Excess Loss Ratio in #9b, I suspect the answer key may have a typo. It only references the latest four years of data, with suspiciously funky AY labels.
I assume we'd typically use all years in the provided data to increase the stability of the ELR, but happy to learn if there are exam-focused scenarios where you could see that assumption not holding!
Comments
Yes, those were typos. (This is the first exam cycle where practice exams 3 and 4 were available so the typos are still being corrected. Thanks!)