2014 Fall #23b
The examiner reports says that the specific years during which the adverse development were over 5% need to be explicitly stated. I feel like I've done a lot of these problems from past exams and the specific years did not need to be stated (it was sufficient to say that there was at least 3 of the last 5 years that had adverse development of at least 5%). Additionally, page 109 of COPLFR does not say that the years need to be stated. Is this something that is outdated from an old version of the reading?
Comments
Sorry for the delay in responding. I had oral surgery this week.
I don't have the version of COPLFR from prior to 2014 so I can't look it up. It's either an error in the examiners' report or a change in standards. If you want to be safe when you take your exam however, go ahead and list the years - they definitely would not subtract points for that.