IRIS 13 in mini battle quizes
It looks like the answers use the exact average of the 1 and 2 year loss ratios, not the rounded to 3 decimals average that I use. This makes my answer off by a decimal of a % and the computer says I'm wrong. When I click "cheat" to get the answers, the 1 and 2 year display as XX.X%, which match my calculations, but the expected reserves is wrong because I use the average of the two loss ratios as shown, but the computer uses the average of the unrounded answers.
Comments
Well, that was an unlucky combination of numbers. Sorry you had your correct answer marked wrong due to rounding. I have now doubled the tolerance for IRIS 13 when the computer checks the answer so that should resolve the issue. (I also changed the display so the % values in the "Cheat" section show an extra decimal.)
It's perfectly reasonable to round to 3 decimals when you're calculating by hand, but as you observed the computer keeps all the decimals until the final step. The problem you had arises because IRIS 13 has several intermediate steps so if the intermediate steps are rounded, any small inaccuracies are propagated and it can throw the final answer off by a larger amount.
(You'd be fine on the exam of course where the grader sees your actual work and not just the final answer.)