Free SOA Exam FAM (Fundamentals of Actuarial Mathematics) Pricing and Reserving for Short-Term Insurance Coverages Practice Questions
Pricing and reserving for short-term insurance on SOA Exam FAM covers loss development triangles, case reserves, IBNR (incurred but not reported) estimation, and fundamental ratemaking techniques.
135 questions58 easy46 medium31 hard2026 syllabus
Sample Questions
Question 1
Easy
Which is NOT typically a variable expense in ratemaking?
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Correct Answer: B
Solution
B is correct.
Variable expenses vary with premium: commissions, taxes, contingent commissions, assessments. Rent is fixed.
Question 2
Medium
Reported $500K; CDF 1.50; EP $1,200K; ELR 65%. Calculate the BF ultimate.
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