Owarnock
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This question asks you to describe the purpose of the bills and I read that to mean motivation and answered to identify unfair trade practices and reduce federal intervention. Would this have been marked incorrect? I’m at a loss in how to tell the d…
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Is goodwill then earned over time, which will flow into earned premium? Or does it never effect the income statement?
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This helps a lot, thank you!
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The examiner’s report in Fall 2016 # 18. “ Goodwill is amortized to unrealized gains for a period of no more than10 years”
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Would DTAs be added when calculating GAAP Surplus, if provided?
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If you compare spring 2017 #11 and Fall 2015 #13, they both involve allocating surplus but one is shown as the mean surplus and the other is the surplus for a specific CY, but from what I can tell, the same calculations are used. I think my confusio…
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Where is surplus allocation in ratemaking discussed?
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Whoops, I meant to say why don’t we consider net EP as an asset? And why do we include 2016 CY UEP as a liability in 2017? Thinking the remainder of the UEP would be fully earned in 2017 - am I thinking about this wrong?
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Is this question specifically asking about items required in Exhibit B: Disclosures in the SAO, or could it be anything that has to be disclosed within the SAO?
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A few questions: Is there still a link somewhere to Formula Summary: Schedule P that shows sample diagnostics? I’m not seeing it on the wiki. Would it have been an acceptable answer to say that in the average case outstanding triangle in AY 20…
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Do we still need to know the NAIC response to the Clayton Act and Robinson-Patman act? See Fall 2012 c. I noticed this question want included in the battle quizzes.
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Can you confirm if this interpretation is correct? The insurer retains 1M per the terms of the reinsurance treaty being 2M xs 1M. Then in addition, the insurer has to cover the first 1M of the 2M reinsured layer (assuming there is a 3M loss) due …
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A deductible clause is a new concept for me. To clarify, the insurer retains 1M per the terms of the reinsurance treaty being 2M xs 1M. Then in addition, the insurer has to cover the first 1M of the 2M reinsured layer (assuming there is a 3M loss) d…
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In the examiner's report for F2018 Q7a, the response for RF reads as follows: "Insurers accept all auto insurance applicants, and if an applicant is considered a high-risk driver, the insurer has the option of assigning the driver's premiums and l…
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Can you further explain how the deductible works with the retention for the layer? I am not following how the max reinsurer payout is $1M.
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That helps a lot. Thank you!
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In Fall 2017, Question 14 - under assets they have reinsurance recoverable on loss and lae payments **and ** net amount recoverable from reinsurers. If the net amount recoverable was not 0, lets say its 20, would that amount be double counted in li…
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Could you explain why we set the target taxable income to -37,500 when solving rather than +37,500? Having a hard time grasping what is going on conceptually.
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Do we have to be concerned with potentially double counting recoverables on paid in these problems?
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In the question from Fall 2014, question 15. If the goodwill amount did not specify it was goodwill on acquisitions occurring 10+ years ago, would we have included it in the calculation of assets? What if it said on acquisitions occurring within the…
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Thank you!
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Sorry just read where the formula for this is! Missed over it my first time
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I may be missing something obvious, but which part of the mnemonic device would the Data Testing Requirement be captured in?