General Insurance Applications (GIA) Practice Questions - General Insurance Applications (GIA) - Actuaries Institute Fellowship Program Exam

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Under the Chain Ladder (development factor) claims reserving method, the age-to-age development factor f_(j) is calculated as:

sum_i (C_(i, j+1)) / sum_i (C_(i, j)), summing over all accident years i available for development periods j and j+1 The arithmetic average of premiums written divided by claims paid The ratio of final year claims divided by initial year earned premiums The difference between total incurred losses and paid losses

Correct Answer:

sum_i (C_(i, j+1)) / sum_i (C_(i, j)), summing over all accident years i available for development periods j and j+1

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