Fall 2019 Exam

MICMIC
in General

Fall 2019 exam is up: https://www.casact.org/admissions/studytools/exam6c/f19-6C.pdf

Any thoughts from those who took? Too long/short/difficult/easy? This is my third attempt. Found it lengthy but managed to finish it. Not sure about some questions I answered:

  • 1c: Not sure what are the 4 key principles
  • 6b: Pretty sure got this wrong as going back to reading found the duty of public agents is not as high as private ones where I answered opposite
  • 10c: Not completely sure what makes involuntary exit fees lower in Canada but had a feeling it has something to do with the fact that in Canada recoveries are used to pay for future insolvencies while in UK/USA they are returned back to solvent members
  • 12e: I simply said 600m/950m. Not sure if the answer is that simple
  • 14a: Again simply said Total net commission = I + J - K + L - M. Again not sure that little work was needed for 1.25 marks
  • 18: Worked out investment rate using 5200/(UCAE+UEP+Unearned Comm - DPAE-Receivables) as part of overall calculations. Not sure if it was the right thing to do
  • 27: Had a feeling IFRS17 question will come but still couldn't answer part a well and only knew one difference for part b

Comments

  • stratthixxstratthixx

    1c -> It's from OSFI.SupFrm

    10a -> same

    12e -> I assumed another identical company of equal size and equal loss existed in the jurisdiction, so part ratio = 0.5 and continued from there.

    14a -> I got 16,550

    18 -> Same i = 2.66%, and I remember XS/Def ratio being -1% to -2%

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