# Errata for 2019 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).

## Practice Problems

**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

losses for accident year 2014 are $212,000*paid*losses limited to $500k for accident year 2014 are $178,000*Paid*

## Exam 7 Cookbook

**Patrik - IBNR Monitoring (2/2/19) - **The table on Step 2 should state: “Predicted Reported Loss at March 31, ** 2016.**”