do you mind pointing to the formula used? The solution is using a different formula to calculate the countrywide PML. For 420 they took the max but not for 500 years. I couldn't find anything in the OSFI paper
That exam question is out-of-date. It was covered in the pre-IFRS17 version of the MCT reading. The phase-in period was from 2014-2022 and now that we are in 2023, the phase-in period is no longer relevant. You can see which exam problems are outdated using from the BattleCards:
And you can get a BattelCard-style list of every old exam using this link:
Comments
It's in the OSFI paper under Earthquake risk
do you mind pointing to the formula used? The solution is using a different formula to calculate the countrywide PML. For 420 they took the max but not for 500 years. I couldn't find anything in the OSFI paper
That exam question is out-of-date. It was covered in the pre-IFRS17 version of the MCT reading. The phase-in period was from 2014-2022 and now that we are in 2023, the phase-in period is no longer relevant. You can see which exam problems are outdated using from the BattleCards:
And you can get a BattelCard-style list of every old exam using this link:
And the above link appears here on the Main Page: (2nd link down)