Models and Perils
Which of the following is not a measure of ground motion: Peak Ground Acceleration, Spectral Acceleration, Dynamic Acceleration
Dynamic Acceleration
If you want to import exposure into CATRADER, this is an AIR file format you can import directly.
What is a UNICEDE/2 file?
The mean loss from this Touchstone perspective can be calculated on a per event basis as mean Ground Up loss minus mean Gross loss.
What is Retained loss?
This method is employed in Touchstone to combine distributions of loss across coverages and locations
What is Numerical Convolution?
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?
The stiffer a structure, the _________ its natural period of vibration.
What is shorter?
This primary risk characteristic is vital to estimating contents and time element losses.
What is Occupancy Class?
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?
This loss perspective in Touchstone represents the loss after application of primary insurance and risk-level reinsurance, but not CAT XoL.
What is Pre-CAT Net?
This distribution describes the relationship between frequency and magnitude of earthquakes for a given seismic area.
What is Gutenberg-Richter?
The strongest winds in a tropical cyclone are located here.
What is the eyewall?
Ground up loss in Touchstone is calculated directly using this key exposure data input.
What is replacement value?
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%)
You are modeling a Quota Share treaty in CATRADER with the following terms: 40% Ceded, $10M Occurrence Limit, 20M Aggregate Limit. Of these three terms, this one is applied second by the CATRADER loss engine.
What is the $10M Occurrence Limit?
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?
Among the following choices - wind shear, occlusion, steering currents - this term does not affect tropical cyclone activity.
What is occlusion?
Disaggregation weights in Touchstone are based on this database.
What is the AIR Industry Exposure Database?
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?
An insurer has 100M sums insured in some county for some LOB. By the AIR Industry Exposure Database, there is $1B in exposure in this county and LOB. For a given event, if the Insurable Industry Loss is $50M, what is the Company Loss as CATRADER would calculate it?
What is $5M?
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?
The two main components of an AIR Flood model are Hydrology and this.
What is Hydraulics?
This primary risk characteristic can actually backfill certain secondary risk characteristics for some models depending on the location of the risk.
What is Year Built?
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?
In catastrophe models, uncertainty in exposure data, intensity, and vulnerability is generally classified as this type of uncertainty
Secondary Uncertainty
This is the minimum level of resolution a Touchstone loss analysis must be saved by in order to generate a CLF.
What is subarea and line of business?