Spring 2019 #21 b
The question states: "John Doe, Chief Information Officer, provided data for the Appointed Actuary's analysis as well as the December 31, 2017 Annual Statement excerpted below". When I read this prompt, I assumed the date provided applied to the Annual Statement but made no assumption that it applied to the data provided.
The examiner's report lists one requirement for full credit as the "Review data [I think this meant date] through which material information is known to the actuary is included in forming the opinion". I missed this because I thought the date provided applied only to the Annual Statement.
Also, they don't make any mention about whether the data was reviewed for reasonability or reconciled to Schedule P in the prompt. But those statements were required as part of the answer.
I think I am excessively parsing this and similar questions. For these questions, should I just assume the hypothetical actuary did everything correctly and focus on listing all SAO requirements for the referenced section to demonstrate that I know those?