CIRCA-F vs. CIRCP

jc2018jc2018
in Baer.Intro

Hi,

In the McD notes, you mention the following.

Recall CIRCA-F from Baer.Intro. That was the memory trick for items related to guaranteeing financial soundness. Note that investments and reporting are part of both CIRCP & CIRCA-F. You should understand that these 2 questions are similar but not quite the same: CIRCA-F are relates to financial soundness whereas CIRCP is broader because it includes financial soundness, as well as relating to insurance regulation in general.

However, when I go see the past exam questions, they all seem to be asking CIRCP for answers and I don't see any particular question with CIRCA-F as correct answers in the examiner's report. Even the 2017 Spring 1b that is in Baer Battle quiz seems to answer with CIRCP and not CIRCA-F.

Do you have any examples of past questions that explicitly show the difference between the two?

Thanks!

Comments

  • grahamgraham

    Here's the thing: These papers were written by 2 different authors, and I'm beginning to wonder if I've made too big a deal out of the difference between them. Maybe Baer and McDonald were expressing the same idea even though they used slightly different wording. Your'e right that the old exam questions seem to answer with CIRC-P even if the question is specifically about financial soundness.

    To me, it seems reasonable they would accept any kind of mix & match between CIRC-P and CIRCA-F. For 2017.Spring Q1, they only listed 4 different answers, from CIRC-P, but I have to think that more were accepted. They don't always list every acceptable answer, and if you had written "authorization of rating bureaus", for example, they really should have accepted that even though they didn't specifically list it.

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