Question
InsureCo writes a portfolio of 12-month fire insurance
policies on 1 Oct (policy year Oct–Sep). Premiums are received upfront. Historical claims are seasonal: 30% of claims occur in Nov–Jan, 20% in Feb–Apr, 25% in May–Jul, and 25% in Aug–Oct. Management wants to calculate unearned premium and decide if an unexpired risk reserve (URR) is needed at 31 Mar year-end. Based on seasonality, what is the primary consideration for URR at 31 Mar?Solution
URR is required when expected claims/expenses for the remaining unexpired term exceed unearned premium. Given seasonality, if significant claim incidence remains in months after Mar for these Oct–Sep policies, URR is likely needed. Reinsurance can affect net estimate but does not remove need for analysis.
? = 60% of 2500 + 85% of 2000 – 5³
√11025 x √5625 - (50)² = (?) + (73)²
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What will come in the place of question mark (?) in the given expression?
? = 90% of 25% of (40 × 200) + 300
18/2 of 3/9 of 2/6 of 69690 = ?
(√2704 x 55)/(245 + 120) = ?
(? × 3)2 - 85 = 115 × 5 + 69
What will come in place of (?) in the given expression.
[(24 ÷ 3) + (18 × 2)] - 5 = ?What will come in the place of question mark (?) in the given expression?
(√1089 + 84 ÷ 2) % of 348 = 416 - ?
- What will come in place of (?) in the given expression.
625 + 196 – √256 = ?
