CAS Exam 5 Spring 2018, Question 16
Study guide: Exam 5
Given the following transactional data:
| Claim ID | Accident Date | Transaction Date | Amount Paid on Transaction Date | Ending Case Outstanding |
|---|---|---|---|---|
| A | October 31, 2014 | February 1, 2015 | 200 | 300 |
| July 31, 2015 | 300 | 0 | ||
| B | April 28, 2015 | July 1, 2015 | 0 | 1000 |
| October 15, 2015 | 500 | 500 | ||
| August 28, 2016 | 500 | 200 | ||
| C | June 1, 2015 | July 7, 2015 | 100 | 650 |
| January 15, 2016 | 250 | 400 | ||
| May 15, 2017 | 300 | 0 | ||
| D | September 24, 2015 | March 1, 2016 | 0 | 325 |
| December 19, 2017 | 375 | 250 |
Part a (0.75 points)
Calculate accident year 2015 paid claims as of:
- i. 12 months
- ii. 24 months
- iii. 36 months
Part b (0.75 points)
Calculate accident year 2015 reported claims as of:
- i. 12 months
- ii. 24 months
- iii. 36 months
Answer this question and see the worked solution