Date at the conclusion of the policy 100 of the

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date. At the conclusion of the policy, 100% of the policy term has expired; thus that point is locatedon the upper x-axis at the expiration date. The line connecting the effective and expiration pointsdepicts the percentage of the policy term that has expired at each date.
c)Calendar year Aggregationand Accident Year Aggregation consider exposure during thetwelve-month calender year without regard to the date of policy insurance; calendar andaccident year exposures are generally the same and the text will use the term calendar yearexposure. At the end of the calendar year, all exposures are fixed. Since calendar yearconsiders any transactions that occurred on or after the first day of the year, but on or beforethat last day of the year, calendar years are represented graphically as squares in the followingpictures.
ASC 3024 Ratemaking & Loss Reserving for General InsuranceBSc (Hons) in Actuarial Studies
School of Mathematical Sciences (SMS)page 8March 2017 Semester
ASC 3024 Ratemaking & Loss Reserving for General InsuranceBSc (Hons) in Actuarial StudiesSchool of Mathematical Sciences (SMS)page 9March 2017 Semester

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Term
Summer
Professor
NoProfessor
Tags
Actuarial Science, Actuarial Studies, General Insurance

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