USE - Reasons for Ratings
Why does the CAS keep switching around the language for the identical questions? Why doesn't CAS re-use previously acceptable wording - rather than trying to re-invent the wheel each exam? How to best approach this issue?
2013 Fall 24 - Describe two reasons that almost all property-casualty insurers are rated by rating agencies compared to a small percentage of companies in other industries
2016 Spring 22 - Briefly describe three reasons why insurers maintain credit ratings with rating agencies.
2016 Fall 23 - Identify three reasons why most p&c insurance companies obtain financial strength ratings from one or multiple rating agencies even though the have no debt and are not publicly traded.
2019 Spring 22 - Briefly describe three reasons most insurance companies require a rating by a recognized rating agency.
The phrasing change makes it appear like the want to test a different concept.
Comments
Because if they asked the questions in a "normal" way and otherwise created a reasonable exam then too many people would pass. And I'm not trying to be funny. Whether it's conscious on their part or not, that's what it comes down to - creating a barrier to entry to the profession.