If you want to import exposure into CATRADER, this is an AIR file format you can import directly.
What is a UNICEDE/2 file?
100
This loss statistic is a simple average of annual losses across all simulation years.
What is average annual loss (AAL) or expected value (EV)?
100
This method is employed in Touchstone to combine distributions of loss across coverages and locations
What is Numerical Convolution?
100
This key part of AIR's models relate a location's estimate of intensity to expected damage for a given type of risk.
What is a damage function?
200
The following perils are modeled in AIR's MPCI model for China.
What are drought, flood, wind/hail, and frost/freeze?
200
These four risk characteristics are typically most important to estimating the vulnerability of a risk.
What are construction, occupancy, year built, and number of stories.
200
This version of the EP curve is created using not just the mean loss for each event or year, but the full distribution of loss?
What is EP curve with secondary uncertainty or EPSU?
200
This loss perspective in Touchstone represents the loss after application of primary insurance terms, but not reinsurance.
What is gross loss?
200
This distribution describes the relationship between frequency and magnitude of earthquakes for a given seismic area.
What is Gutenberg-Richter?
300
The strongest winds in a tropical cyclone are located here.
What is the eyewall?
300
This legacy Touchstone import format is difficult and tedious to prepare at times, but easy to import once you get it right.
What is UNICEDE/PX or UPX?
300
It would be correct to describe the 1% exceedance probability loss as the loss that would be met with an annual probability 1%.
What is false!
-loss that would be met **or exceeded** with an annual probability of 1%
300
Imagine you have a 25% quota share treaty with a $3M occurrence limit and a $5M aggregate limit.
Now imagine you experience event losses during the quota share contract period of $16M, then another of $20M.
This is the loss the quota share treaty for the second event.
What is $2M?
300
Among the following choices - contents loss, loss adjustment expense, business interruption - this is NOT explicitly included in AIR loss estimates.
What is loss adjustment expense?
400
Among the following choices - wind shear, attenuation, steering currents - this term does not affect tropical cyclone activity.
What is attenuation?
400
Disaggregation weights in Touchstone are based on this database.
What is the Industry Exposure Database?
400
You need to know what this is if you want to create an occurrence EP curve.
What is the largest single event loss in each simulation year?
400
This process is used to estimate the contribution of each location to a contract once the losses have all been convolved up to the contract level.
What is proportional back allocation?
400
If you want to smooth out the effects of environmental characteristics such as soil type and land use with postal code resolution data, consider using this Touchstone analysis feature.
What is Average Properties?
500
These are used to estimate the level of ground shaking at a location given information about an earthquake.
What are Ground Motion Prediction Equations?
500
This important exposure data element only affects gross or net loss, but not ground up.
What are policy terms or conditions?
500
This loss statistic is calculated as the average of all occurrence or annual losses at and above (so to speak) a given exceedance probability.
What is Tail Value at Risk, or TVaR?
500
This type of uncertainty is represented and propagated throughout a detailed loss calculation in Touchstone, but is not explicitly considered in CATRADER.
What is Secondary Uncertainty?
500
This is the minimum level of resolution a Touchstone loss analysis must be saved by in order to generate a CLF.