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3. (20 points) Given the following information: i. The policy term is six months ii. The proposed rates will be in effect from January 1,

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3. (20 points) Given the following information: i. The policy term is six months ii. The proposed rates will be in effect from January 1, 2012, to June 30, 2013 ii. The selected projected premium trend equals 5% Average Earned Premium at Current | Premium at Current Calendar Year Average Written Rate Level Rate Level 380 2009 375 2010 390 395 Question: Calculate the total premium trend factor for each of Calendar Year 2009 and 2010 using two-step trending

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