graham
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My thinking was that the underwriter or agent would be doing it on behalf of the insured, but I will adjust that to be consistent with the wording in the source: * https://battleactsmain.ca/wiki6c/BCAR.Cat#Cat_Risk_Management
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Yes, that's correct. Here's the reference in the CCIR.Instructions wiki article: * https://battleactsmain.ca/wiki6c/CCIR.Instructions#Excess_.28Deficiency.29_using_Page_60.35 If I were studying this reading, I would memorize the answers to …
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The definition of excess (deficiency) ratio changed when IFRS 17 was introduced and the calculations given in the CIA.Runoff source text are not consistent with the new CCIR instructions. That's why I marked it as outdated. (This reading should h…
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I included that example because that's exactly the kind of trick I could see showing up on the exam! (That question has been asked by students multiple times so you are not alone!)
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You just have to scan the given information for risk-limiting features, and in this problem there aren't any that would impact the assessment of risk-transfer. Examples of risk-limiting features might be: * Sublimits: Caps the amount payable f…
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And just to give a little more detail: "Reinsurance pricing assumptions" refer to the estimates and models that reinsurers use to set the price of reinsurance contracts. These assumptions can include factors like expected loss ratios, administrative…
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Yup, I had it mislabeled. Corrected, thx! * https://battleactsmain.ca/wiki6c/Chev.Agric#BattleTable
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It isn't permitted to reproduce the page digitally, but it basically says the following: * Auto insurance in BC is a combination of government-mandated rates and open competition. * The Insurance Corporation of BC (ICBC) is a provincial crown …
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Sorry, it's 2019-Spring-Q25a:
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This reading is not available online. It is only available in printed form from the CAS. You have to order it on the CAS website and it has to then be physically mailed to you from the CAS office in the U.S.
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Fixed, thanks. (fyi..the original post was in the wrong thread. This material is from CIA.IFRS17-LRC.)
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Oh, I see. (If the source is wrong, that would be for the CAS to correct so there's nothing I can do here. I believe the graders would give credit on the exam for answers consistent with the source even if the source is wrong.)
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I'm not sure what's wrong with BattleCard 13. This is from page 12 of the source text:
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Yes, I can send it to you if you’d like. You can also access the questions through the BattleCards by using the prior exam feature. If you want me to send it to you, send me a private message with your email address on it.
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Yes, I'm almost finished it.
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No, they are different exams. The CAS website is in error. It appears they loaded the Spring 2016 exam in place of the Fall 2016 exam so the Spring 2016 is duplicated.
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@evammmmai Sorry, I had the wrong link. It's fixed now. Thx!
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Ok, thanks. I believe the notation is now appropriately adjusted. @Staff-T1 @BA_6C_user_DY
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That reading was removed, but there may be a leftover link to it from a related readings. Sometimes I don't catch all the links to removed articles that should also be removed.
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It's because the court settlement impacts all accident benefit claims retroactively. That means accident benefit claims that were settled prior to the calculation date could now change.
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The natural catastrophe stress used to incorporate 2 catastrophes but now the "normal" BCAR includes a catastrophe component so the natural catastrophe stress test only tests 1 catastrophe. So both before and after the change to the test, the BCA…
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* Yes and yes. * Yes. * Yes, since the "normal" BCAR now includes a catastrophe component.
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As far as I can tell from the syllabus readings, the natural catastrophe stress test no longer incorporates a second catastrophe. Anything beyond the syllabus would not be tested. Hope that helps.
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Nope, they're not interchangeable. Here's a quick breakdown: Fixed income security: Usually refers to bonds or other debt instruments that pay a fixed amount of interest over a period of time. They provide regular income payments at intervals (li…
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I stopped doing the exam summaries because there didn’t seem to be any value in it anymore. So much of the syllabus from then is out of date, and I believe the general format of the exam is different as well. It used to be that you could rely on a s…
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Originally, I didn't always include all information in the wiki if they were just simple facts. I only put them in BattleCards so the wiki wouldn't get cluttered but I have changed that. For newer articles, virtually everything is in the wiki.
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The Tax Break Element Explained: When an injured plaintiff receives compensation based on their gross (pre-tax) income, they're essentially receiving a larger payout than if it was based on their net (after-tax) income. Here's why this matters: …
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No, they're not the same. Each of these documents has its own purpose and scope. The Annual Statement and the AAR are more specific to the insurance world, while the Annual Report is a broader document that many public companies release. Hope that c…
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Trust in Professional Judgment: The framework is designed so that actuaries can offer their professional judgments without the fear of backlash for every decision or interpretation. This encourages them to be candid and honest. Good Faith Protect…
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I'm sorry, I don't quite understand what you're asking.