What is inside and outside the scope of the Annual Statement?

nkekarnkekar
in NAIC.Annual

General Question:
What is considered included and excluded from the Annual Statement

RBC, IRIS, Balance Sheet , Income Statement, Statement of Cash Flow, SOA, AOS, 5 year historical Exhibit, SCH P, SCH F, etc...

Is there a list or chart somewhere that shows what is considered a part of the annual statement and what isn't? A lot of questions ask specifics to if something is a subset of the annual statement.

Comments

  • Staff - ACStaff - AC

    We did not find need to create such a classification of financial statements. Those that are found in the Annual Statement blank are within the statement, and those not found there are published outside of it. I have not come across exam questions that ask for this classification; I don't believe this piece of knowledge will be very useful for exam content.

  • nkekarnkekar

    I've found some question where they ask "what exhibits within the annual statement would you find..." And then I listed off some items that weren't in the annual statement, so I wanted a list to differentiate what is considered a part of the annual statement and what isnt.

  • Staff - ACStaff - AC

    Could you point me to the exam question you mention, so I can take a look?

  • nkekarnkekar

    Spring 2019 #10 c

  • Staff - ACStaff - AC

    I see. In this case, some of the main statements that come to mind that can be used in assessing liquidity are the ones published in the Annual Statement. Balance sheet, income statement, cash flow statement, notes the financial statements, and all the schedules like P and F are included. Certain others like RBC, IEE, Statement of Actuarial Opinion, which are published outside the Annual Statement, can also be used for this purpose. But you'd better off steering clear of these, in order to adhere strictly to the instruction to stay within the Annual Statement.

    Hope this helps.

  • nkekarnkekar

    another exam problem, that indirectly asks this is 2014-Spring #16 d.

    Thanks for the response!

    I'll assume when asked about items in the annual statement to think directly to Balance sheet, income statement, cash flow statement, notes the financial statements, and all the schedules (usually P and F )

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