Actuarium

Formula sheets

Every formula on the syllabus, rendered natively, with the traps examiners set for each. Print one per exam and keep it by your desk.

OC2 — Online Course 2 — Insurance Accounting, Coverage Analysis, Insurance Law

CAS

Unearned premium (pro rata)   UPR=written premium×unexpired termpolicy term\;UPR=\text{written premium}\times\dfrac{\text{unexpired term}}{\text{policy term}}

Combined ratio   =losses+LAEearned premium+expenseswritten premium\;=\dfrac{\text{losses}+LAE}{\text{earned premium}}+\dfrac{\text{expenses}}{\text{written premium}} (statutory basis).

Traps to remember

  • Using earned premium in the statutory expense ratio denominator.

  • Treating exclusions as the only source of coverage limits — definitions and conditions also restrict coverage.

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