ambiguous questions are bound to happen
jbkelly@genre.com
Thu, 6 May 1999 14:04:18 -0400
Under exam conditions it is easy to misunderstand a question. Especially
since the exam writers intentionally write the questions to be misleading.
Any actuary who studied at all could answer a classical credibility
question, so to spice it up they do not phrase questions in a direct
manner. They (the exam writers) do the same thing with loss amounts (the
whole portfolio vs 1 insured vs 1 claim) and finding averages (average over
all claims or over a portion of the cliams). Not to say that all
questions are phrased in a tricky manner, but the exam writers do seem to
have a philosophical issue with phrasing a question in a direct manner.
Those ratios of limited expected values and excess ratios involving
lognormal distribution were computationally tough.
And also the k-s of truncated data, which is only indirectly covered!
Oh well! -john