Staff-T1
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That's because duration is a measure of interest rate sensitivity. This should have been covered in FM
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Fair Value gains are the unrealized or mark to market gains
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Yes you are right
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I believe its cause if you actually algebraically manipulate the ERC formula from first principles, the EQR, depends on the ERC which depends on the financial resources so there is some circular logic here
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No, you'd still need to inform of any changes. You just wouldn't need to change the report
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No those are just for the indemnity component
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Im not sure what you mean by any "other" RA. You either have the RA for the LRC, and RA for the LIC. There is not RA for the profit margin. CoC is a method that can be used for either
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You're overthinking it. Its just a simple example and the LC was given as 20 so you did not have to calculate it. You'd need to book 20 if there is a gap between FCF and LRC excl LC
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yeah only time you'd have to use it
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No. Expedited approval means the filing has to be reviewed by FSRA. For file and use it does not have to be reviewed by FSRA
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It was split out to make it clearer as A goes into the deduction and LOC limit. However, this does not change anything
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yeap it is
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It doesn't say but I would assume so. The risk factor is meant to represent the average canadian insurer and the average canadian insurer writes across multiple provinces
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1) Yes it's parametric insurance, but depends on whether it is an individual or collective program. I believe an individual program would be indemnity while collective would be parametric. 2) I would say this depends on the payout. In general to de…
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Yes you are right. RA is usually calculated using the cost of capital approach (above) and the quantile/confidence level method
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I'm not sure I understand your question. Could you rephrase?
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Yeah that's right. Dividends are part of retained earnings which does not impact CI
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Net UCAE is a liability but there are other items that are considered liabilities
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Correct for your first point. For the second point it doesn't say in the MSA report so you can just state your assumptions and either will be accepted
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Yeap you are right - I think maybe I am getting mixed up because I could have sworn I updated it. But anyways, I think the Excel file could be cleaned up a little at the deduction for capital for unregistered reinsurance since it's confusing now. Ma…
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seems so - why?
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They are basically the same thing just under the old standard
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Graham is specifically alluding to the Risk Sharing Pools. Those do not exist for the territories. The facility runs more than just RSPs
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Its the share of net income (loss) of equity accounted investees
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Check the formula correctly, it is discounting the FCF using the VLOOKUP formula
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The rules is that PACICC only compensates 70% of the UEP so they have been "fully" compensated already. If they say only got 400, then yes they would be eligible for additional recovery amounts
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Well usually if they want to test a CCIR question, there won't be enough information to calculate the MSA version of the formula. If there is enough information to do both, you would not be penalized for choosing either version anyways. And yes for …
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You'd always use the actual latest limit in real life. But for exams Im guessing either would be fine
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Its fidelity insurance lol - not fidelity in an insurance context
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It would be at 2045