2013 fall 17
In this question, the paid claims amount aren't actually given, and we are asked to estimate the unpaid claim amounts. It appears that the answers given are assuming paid = reported claims. Is this a typo of the question, or should we make similar assumption about paid = reported when only one of them is given in the exam?
Comments
I believe there is an error in the statement of the problem. The unpaid amount cannot be calculated from the given information. I believe the question should have asked for the IBNR amount, not the unpaid amount. (It would be incorrect to make the assumption that paid = reported.)
I will make a footnote in the Battle Table about that. Thanks.