Errata for Spring 2019 Sitting
I always hated seeing errors in study material when I was taking exams, so I do my best to check everything as much as possible. Nevertheless, any mistakes remaining in the Rising Fellow material are my own. I keep an up-to-date errata here to document and fix any errors found during the sitting.
If you spot an error in the study material, please quick send me a message so that I can correct the error and document it here for others. Thanks!
Errata for Exam 7 Products
High Level Summaries & Flashcards
Taylor (11/17/18) - The formula for the standardized deviance formula originally showed the square root in the denominator. I corrected the formula to match what’s in Taylor. I updated the formula in the version on the CFRF online seminar and it’s corrected for all orders after 11/17.
Taylor (11/30/18) - On page 50, the formula for the mean (mu) when p = 3 is incorrect. It should be (-2*theta)^-1/2. Also, it’s the Inverse Gaussian distribution (not the Inverse Gamma).
Meyers - 1 (1/2/19) - The percentile of outcome for dataset 6 in the problem should be 86.2 instead of 14.4. This matches the data used in the solution.
Siewert - 8 (1/3/19) - The losses given in the problem should be paid losses, not reported losses:
Unlimited paid losses for accident year 2014 are $212,000
Paid losses limited to $500k for accident year 2014 are $178,000