In the examiner's report solutions for part b, the ROR numerator does not subtract out the realized gains given in the question, $1000. Is there a reason for this?

http://www.battleactsmain.ca/wiki6c/CIA.Accting#2016.Fall_.2313ac

In OSFI MCT, it mentions that (2017.Spring #20b) is excluded since it's not on the syllabus. Section 5.1.1.4 however does quickly contrast modified and effective duration, allowing a candidate to get

* https://www.battleactsmain.ca/wiki6c/CIA.Accting#2016.Fall_.2313ac

https://www.battleactsmain.ca/wiki6c/CIA.Accting#2016.Fall_.2313a

at MSA formula, the ROE use net income divide by equity, but at old exam, 2015 Fall #22, used the avg of equity; on the other paper, CCIR instruction, also use NI/avg equity. Should we use avg equity