javid
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Sorry, I have not seen the Spring 2019 exam, so I cannot comment on this (I don't think it's online as yet, is it?)
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Thanks @chrisboersma
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Thanks for clarifying the use of the individual reinsurer's LOC. I think your logic is reasonable then, in applying the aggregate limit to each reinsurer's LOC (as per 2a above). So going back to my example above, if the LOC1 = 200, LOC2 = 300 and L…
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Hi, The use of the word "deduction" may not be the most appropriate here as we are calculating "required capital". If you look at 4.3.3.2 of http://www.osfi-bsif.gc.ca/Eng/fi-if/rg-ro/gdn-ort/gl-ld/Pages/mct2018.aspx#fnb26, they list the "deducti…
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Hi, As mentioned in the screenshot you posted (from the battlecard), the paper does not appear to provide guidance on this calculation so I cannot really say what is the correct answer here. That said, if we were to go along with your thoughts ab…
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Hi, In general, the investment income in the first CY should be included, as was done in Spring 2015. When the CAS did the 2016 solution, I think their initial intention was to have a more natural flow from part b) to part c) (the excess/defic…
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I remember that feeling. You're almost there.
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Ok, let's take some scenarios: EPR used as part of financial resources With respect to capital required: Earthquake Reserves = (EPR + ERC) x 1.25 where ERC = Earthquake Risk Exposure - capital and surplus - reinsurance cove…
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Is there a specific part of the article that you are referencing? Or are you suggesting the adding some notes for this question within the Wiki?
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Thanks @chrisboersma. Agree here in using equity as the proxy.
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As per http://www.actuaries.ca/members/publications/2007/207002e.pdf, CICA 1530 introduces [...], and comprehensive income as a change in the value of net assets that is not due to owner activities (investments or distributions). You m…
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Just letting you know that I don't have a definite answer to this just yet (after looking through the material) but I'll still attempt to provide some thoughts hopefully tomorrow.
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As per section 4.5.1.2 of http://www.osfi-bsif.gc.ca/Eng/fi-if/rg-ro/gdn-ort/gl-ld/Pages/mct2018.aspx, Insurers can count up to a maximum of 10% of capital and surplus as part of their financial resources to cover their earthquake risk exposur…
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I believe you are right. I will tag @graham in this post to make him aware of this.
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That is correct
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Equity is as of the end of year, rather than for the year So when we compute equity as of the end of the year, we start of with equity as of the beginning of the year, and then add on what has changed since. We add net income for the year. …
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It has been corrected now. Thank you
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It is actually the first one as per Appendix B sheet 5 of http://www.cia-ica.ca/docs/default-source/2016/216076te.xlsx?sfvrsn=2.
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Hi, Materiality I would say that materiality should be considered throughout the decision tree, which includes those two cases (amending & invalidating) you mentioned above. I'll pull out some key pieces from the document (https://www.c…
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Hi Francois, I agree with you that certain items are not fully clear in this question. My thoughts are that the Beginning UEP and Ending UEP are as of the beginning and ending of the given calendar year, e.g. with respect to the first row in your…
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Well, I think it's both as per http://www.pacicc.com/publications/pages/publications/Actuary's Role in Solvency Monitoring.pdf "Regulations were issued to address the excessive use of reinsurance as well as the use of unregistered reinsurance "
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You're right. They implicitly assume that the tax rate is 0 so that NI = NI after tax. Furthermore, for solution 2, they also implicitly seem to assume that total assets = invested assets (i.e. all assets are invested). Without this assumption, t…
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@graham, you're right. No battlecards need to be removed.
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I don't currently have the 16th edition of Morneau Shepell handbook, but the 15th edition as well as https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/payroll-deductions-contributions/employment-insurance-ei/ei-premium-r…
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Yes, you're right. This is no longer on the syllabus. I will remove the reference from the bottom of the article. cc'ing @graham to disable the battle cards for this CdnU/W.Crd reading.
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First of all, I think this question is outdated as per https://www.battleactsmain.ca/wiki/CIA.Reins. That said, I can still answer this question using https://www.casact.org/library/studynotes/Klann_Commutations.pdf as a reference. In this refere…
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I could not find a list online but within the syllabus, the CAS notes new/updated material using the key "NEW". (starting from page 12) https://www.casact.org/admissions/syllabus/Exam6C.pdf
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It appears to have been removed as per the note on https://www.battleactsmain.ca/wiki/Baer.Intro. Just looking at your syllabus too (https://www.casact.org/admissions/syllabus/Exam6C.pdf), on page 12, it says: Candidates are responsible for…
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They are both cases of duty-to-defend. Nichols is a case between insured and insurer. Broadhurst on the other hand had a few issues, one of which is the allocation of defense costs between the primary and excess insurers. The last two statements of …
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As per https://www.cia-ica.ca/docs/default-source/2013/213077e.pdf (page 14) Stochastic: certain risks are ideally modelled stochastically, such as those related to capital markets and those where the statistical loss distribution may be infer…