passexam6c
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Nevermind, just noticed this has been commented in another thread
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Also noticed solution to 18d, seems like premium and severity are mixed up, however I don't agree it should be 1000/150, shouldn't it be (1000-150)/150 if premium is 150 and severity being 1000.
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I splitted the unpaid into net and ceded, then I calculated the PV and APV of the net directly, using ceded for the reinsurance pfad calculation of course.
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For example: 2015 Fall 20d) solution says: The financial condition of the insurer is satisfactory since throughout the forecast period, under the base scenario and all plausible scenarios, the statement value of the insurer’s assets is greater th…
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I believe unpaid claims is discounted to the valuation date, say if you're evaluating claims liability at the end of 2017, they would be discounted back to this time point. The payment pattern varies based on the line of business. Costs included…
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Thank you both for the clarifications!
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Thank you Graham and Chrisboersma for the very detailed and thorough explanations, this is very clear to me and I understand why we include investment income on UPR in the numerator now. Thank you very much for the time and effort spent in answering…
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Thanks Graham, so in the exam, say if my pre-tax NI is calculated to be -7700, I should state the pre-tax NI is -7700, and the post-tax NI is also -7700 as we can assume there's no tax under this circumstance. I was interpreting it differently: i…
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Gotcha! thanks!
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Thank for Graham for the detailed explanations. Following this logic, can I take this to say for HTM assets, there is impact to OCI, however for the purpose of accounting we don't record any of this impact down as we intend to hold HTMs till maturit…
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This is my interpretation of this question (which could be wrong): amortized value or the book value is the original cost of the asset less any amortization, and market value is how much the asset is valued in today's market. By comparing these two,…
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Thanks Graham!