In the MSA notes, there is a comment mentioning an error with the S2017 examiners report regarding the inclusion of cash in invested assets, "(There is an error in the examiner's report solution.

* (2013.Fall #21) - part (b)

The question states that "Assume that the MCT total uncapped operational risk margin is less than 30% of the sum of asset and insurance risk"

In the section where you described investment yield and invested assets, you stated that "The cash term is not part of invested assets. It should however still be included in the denominator of t

In calculating Equity for part a) the solution has E(x-1) + NI + AOCI - Dividends

Correct me if I'm wrong, but: