Insurance
What portion of the property/casualty insurance industry losses and adjustment expenses is fraud? (A) 5% (B) 10% (C) 15% (D) 20% (E) 25%
B) 10% According to estimates by the Insurance Information Institute, insurance fraud accounts for about 10 percent of the property/casualty insurance industry’s incurred losses and adjustment expenses.
In what 2002 hit movie was the main character an actuary? (A.) Catch Me If You Can (B.) About Schmidt (C.) About a Boy (D.) Harry Potter and the Chamber of Secrets
The main character in About Schmidt, played by Jack Nicholson, is a retired actuary.
How many counties are there in GA?
A) More than 150 B) 100-150 C) Less than 100
A) More than 150 (there are 159 counties)
How many members are there in Casualty Actuarial Society (Fellows, Associates, Affiliates) as of 2010 year end? (A) 5,000 (B) 6000 (C) 7000 (D) 8000 (E) 10,000
D) There are over 7,902 members.
The year MCG was incorporated
A) 1987 B) 1990 C) 1995 D) 1999
D) 1999
Damage caused by your pet is covered by your homeowners' insurance policy. True or False
False. Homeowners insurance typically does not cover damage your pet does to your personal property or your dwelling. Liability coverage may help cover damage your pet does to another person's property.
Which 2016 children's movie features an aspiring actuary? (A.) Zootopia (B.) Finding Dory (C.) The BFG (D.) Fantastic Beasts and Where to Find Them
In Zootopia, the character Jaguar is a young tiger that aspires to be an actuary.
Which GA city is known as the Granite Capital of the World?
A) Stone Mountain B) Elberton C) Lexington
Elberton, GA
Which of the following is not a professional actuarial designation? (A) F.S.A. (B) C.F.A. (C) M.A.A.A. (D) F.C.A.S.
B is not an actuarial designation. F.S.A. is the designation for Fellows of the Society of Actuaries. C.F.A. is the designation for Chartered Financial Analysts. M.A.A.A. is a member of the American Academy of Actuaries. F.C.A.S. is a Fellow of the Casualty Society of Actuaries.
The year the Pennsylvania office opened?
A) 2014 B) 2012 C) 2010 D) 2008
B) 2012
You are at a Holiday Inn and are walking down the stairs when suddenly you trip over your own feet and tumble down the stairs. You hurt your ankle, and the manager comes over and offers to call 911. Is the hotel automatically obligated to pay for your medical bills?
No. The hotel is not automatically obligated to pay your medical bills. The hotel is liable if it it was negligent is some way.
In which movie did Ben Stiller play a risk assessment expert, essentially performing the job of an underwriter. (A.) There's Something About Mary (B.) The Heartbreak Kid (C.) Flirting with Disaster (D.) Along Came Polly
D) Reuben Feffer (played by Ben Stiller) is a risk assessment expert, and though not explicitly stated, performs the job of an underwriter.
What is the population of Madison, GA?
A. Less than 2,500 B. 2,501 - 3,500 C. 3,500 - 5,000 D. More than 5,000
C. 3,500 - 5,000
What is the average salary for actuaries in 2017? (A) $95,560 (B) $98,560 (C) $101,560 (D) $103,560
(C) According to the U.S. Bureau of Labor Statistics, the median salary for actuaries was $101,560 per year, as of May 2017.
About how many people have worked at MCG (past and present)?
A) 50 - 59 B) 60- 69 C) 70 - 79 D) 80 - 89
C) 70 - 79
Who pays the claims if an insurance company went bankrupt? (A) State government (B) Federal government (C) National Insurance Office (D) Other insurance companies (E) Reinsurers
D) An assessment will be charged to all the insurer companies operating in the state by their market share based on written premium in that year. These costs are passed on to the customers indirectly. Reinsurers are only responsible for their share of losses.
Which film mentions actuarial exams?
(A.) A Beautiful Mind (B.) Triangle (C.) Good Will Hunting (D.) Boyhood
D) Boyhood (2014) - Mason Evans, Sr. (played by Ethan Hawke) mentions at a baseball game that he recently passed his second actuarial exam, and later discusses his job at an insurance firm
Over the years, Georgia has had five state capitals. True or False
True
Which is NOT a practice areas of the CAS?
A) Ratemaking B) Reserving C) Predictive Modeling D) Enterprise Risk Management E) All are practice areas
E) All are practice areas
Which of the following was NOT a client that helped to sustain MCG at the beginning of its formation?
A) Coca-Cola B) Bankers Insurance C) City of Atlanta D) Community Health
C. City of Atlanta
You go to "Burger King" and eat a value meal. Two hours later, you get really sick to your stomach and start vomiting. What is your best chance at holding "Burger King" accountable? (A) Go back and confront the manager on duty (B) Seek immediate medical attention (C) Call an attorney (D) Call the health department
B) The most important thing to do is seek medical attention so the doctors can figure out if it really food poisoning. Most food poisoning like salmonella takes 24-48 hours to incubate. It is up to you to prove Burger King is liable.
1976 film about a $2 billion dollar insurance embezzlement scheme, starring James Wood in the role of an actuary.
The Billion Dollar Bubble
How many streets in Atlanta have the word 'Peachtree' in the name?
A. Less than 20 B. 20 - 40 C. More than 40
C. More than 40 (There are over 55 streets with the name Peachtree.
The AAA recently launched a new podcast called
A) Actuary Voices B) Professionalism First C) Actuarially Yours D) Actuarial Communications
A) Actuary Voices
Year in which the framed news article in the hallway of MCG was published
February 25, 1998