Training Scenarios

New 2020-21 MTFC Basic Training Modules and Sample Scenarios are being developed! Stay tuned to our email newsletter for announcements of these new resources. View our existing training modules from past challenges below.

 

Basic Training Modules

These include the same type of questions and similar level of difficulties to what you will see on the official qualifying scenarios for the challenge. Each qualifying scenario includes 4 levels of questions:

(1) Basic statistics and probability,

2) Trends and Relationships,

(3) Risk Analysis, and

(4) Critical Thinking Recommendations.

Try out some of the sample scenarios to get to know the kinds of questions asked to qualify for the challenge. It’s ok if you don’t know some, perfect answers aren’t required, just try to learn!

Download your sample scenario kit below for either:

This basic training scenario provides a simplified way to understand several insurance and risk analysis concepts including: premiums, deductibles and co-pays, and risk quantification. The scenario does not use a separate data file, but provides simplified data internally in the materials. The scenario can also be used to introduce students to mathematical concepts such as mean, expected values, and more.

This scenario provides some simple data about three farms that have tracked their annual profits while also tracking basic information about the annual climate. Though the data is fictional, this scenario will give you some foundations on how to think about your full MTF Challenge project.

Sample Phase 1 Scenarios

Introduce students to new concepts in actuarial science and risk analysis. While many concepts in the Modeling the Future Challenge will be familiar, particularly the statistics and probability used to create mathematical models and project future trends, some will be new. Each Training Scenario covers a particular concept relating to insurance, data analysis, and risk management that students may not have received in traditional classrooms. Gain a stronger foundation upon which you can build your Modeling the Future projects. Download your sample scenario kit below for either:
This basic training scenario includes information about fictional farm insurance data; however, the concepts are the same as what would be used with real-world farm or crop insurance policies. This training scenario introduces students to concepts such as probability distributions, expected values, basic statistics, incentives, and other insurance and risk analysis concepts.

This scenario includes information about a fictional flood insurance company with policies in 5 states in the mid-west. In this scenario you’ll be able to practice many of the types of questions that will be included in the 2019-20 qualifying scenarios.

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