Staff_J1
About
- Username
- Staff_J1
- Joined
- Visits
- 171
- Last Active
- Roles
- Administrator
Comments
-
Not sure exactly what the question here is.. Are you asking if you can use FSCO.TechNotes article to answer the highlighted portion of "items to include in a major filing to support new pricing model"? I am not entirely sure on what was asked on …
-
Find answers below! Just wanted to ask, where are you pulling the screenshots/comments from? Thanks! 1. Risk-rating a model is to “assess how risky a model is so that the amount of work done to choose, validate, and document a model may be appropri…
-
I wouldn't spend too much time on this piece, but my understanding is.. Individual underwriters were historical treated as insurers (i.e Llyod's of London) because each assumes personal liability for the portion of risk they underwrite. This makes …
-
Should be updated, please take a look and let us know! Thanks!
-
This is quite a broad question, so will try and answer to the best of context. Basically, considerations of input data is the following: Sufficiency: -Do the data meet the requirements of the model specification? -If the model will be used repea…
-
Good spot. Just double checked with the syllabus and yes, Chapter 28 no longer on the syllabus!
-
I believe, it should be the exam that is correct (if labelled outdated somewhere, but isn't somewhere else, it still probably means it is outdated). We will double check and get back to you by the end of the week - Thanks!
-
Ah gotcha, let me double check to see if an excel file exists. Will get back to you shortly!
-
I believe the file has yet to be changed. If I am understanding properly, Q4-6 have to be changed (the questions have to change to match the solutions - the solutions have the right numbers). With this correction, I think your question regarding #6 …
-
When you enter the BattleActs homepage, you will see unders "Study Material", "Excel Practice Exam & Problems" (the 3rd item in the list). Here you can find the Excel file for the Odo.FinReg. Let me know if these are not the ones you are looking…
-
For Capacity, think of it like the following: * A federal incorporation gives the insurer legal existence and corporate powers that extend across Canada. It has the capacity to carry on business anywhere in the country. * A provincial incorpor…
-
Might not be 100% understanding your question, but taking a step back, this is the thinking we should have. When we mean "right", I don't think it means automatic access or just guarantee to operate. As you mentioned above in the Insurance Act, it d…
-
Hello, We are currently reviewing these battlecards (whether to remove/update). We will let you know shortly on the decision and if there are any changes! Thank you,
-
Hello, yes this reading is now deleted. Thank you.
-
* Yes, it should be WP as mentioned above. Unless I am mistaken or misunderstanding your question, I don't think the exam question specifies whether it is WP or EP however. For an exam, if not clear, always state your assumption though! * I'm not s…
-
I am going to assume you are talking about Fall 2016 Question 28 as Spring 2016 Question 28 does not mention anything about the 0.5% ceded. Yes, correct that it is immaterial (only 0.5%) and yes, following the decision tree and from what the CAS …
-
Yes, the phrase “retroactively makes the company different as at the calculation date” is consistent with the definition of an adjusting event. The following can be found in page 10 of the Reading Link from CAS: "Adjusting (subsequent) events, whic…
-
I would add for the exam and relating to "actual" scenario, think of the following * With rising interest rates, Market risk through drop in market value of assets (the fixed income ones, like bonds) * Asset-liability mismatch risk, if liabili…
-
The solution's point on a decrease for both asset and liabilities are true as well as FV because 1. The fair/market value of fixed-income assets (bonds for example) are reduced due to their discounted future cash flows now being worth less (due to …
-
As mentioned from the Wiki, we can invoke Method 1 to conclude that there is self-evident risk transfer under this contract for these reasons: 1. The potential loss to the reinsurer is much larger than the premium (which is only 5M) for the coverag…
-
When we calculate claim liabilities, we seem to divide the incremental change in paid amount by 1- what is paid within the first 12 months. Here we did not have to do that, is there a reason why?
-
But in the fall 2018 Q15 they do provide you with the components. UEP and O/S recoverable. Thank you
-
How would we know when to not check for the Min(LOC, (UEP + O/S Recov) x 0.15)) or if we can just use the number given. Thank you
-
Hi Graham, Also for the discount rate, we use book values of the bonds but sometimes in the question we seem to use the market value. Could you clarify thedifference between the two and when each should be used? Thank you,
-
Hi Graham, Then in the example from Fall 2018 Q15. regarding the unreg reins margin for Insurance Risk. To calculate the D, shouldn't we use LOC = 900 = Min(LOC, (UEP + O/S Recov) x 0.15)) which is less than the posted 1000 in the 70.60 exhibi…
-
Also in the question it calculates the premium deficiency to be 4687 but what does it mean why the last row? Note that there is no premium deficiency or DPAE for facility given that net unearned premium = premium liabilities
-
Hi Graham, Thank you for the response. With that excerpt from the CSOP, how come in the examiner report it mentions that as an error? Are they saying people said the two should be the same? Thank you
-
Hi Graham, Sometimes I feel as if in the questions they use direct and gross interchangeably. Could you comment on the difference between the two? Thank you
-
Hi Graham, Quick question. For the upcoming exam, if there were a question like this, to calculate the duration and the premium liabilities for the interest rate margin, we would not need to add in a component for maint expenses and calculate the…