jasonchw
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Found anything?
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Is that "Investment gain attributable to capital and surplus" has included "Net realized capital gains before capital gains tax" so it is not considered in the calculation of chg of surplus?
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Just want to clarify, if a subsequent event is material, then the balance sheet and income statement should be adjusted for it even the event is recognized after balance sheet date? My original thought was that subsequent event will only appear in …
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My next question will be the reinsurance accounting for novation stated in wiki: a novation may be eligible for reinsurance accounting treatment but not in these situtations: - retroactive reinsurance So a novation with only both retroactive…
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I think a run-off agreement is both retroactive and prospective, right? Otherwise a company cannot fully exit a business. If yes, then can i assume novation which is similar to run-off agreement can also be both retroactive and prospective?
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I see from battlecard that one of the most common type of private flood insurance is commercial coverage. Does that mean private insurer is competing with NFIP for commercial property (for flood coverage)?
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I note that the new study sheet updated as "Provides insight into financial strength of reinsureds & reinsurers" . What are those "insights"?
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Sorry my question is not accurate. Let me restate. Is there any reason causing the accounting treatment of retroactive RI so different from prospective RI while both of them are valid reinsurance?
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From the "NAIC.Ex2_(Liberty)_p005_income_statement", there is retroactive reinsurance gain in details of write in 1401. That means it is counted in net income and the exact amount of net income is added to last year's surplus.
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I am also not very clear about when to discount reserves (not only talking about balance sheet). I have listed my understanding as below, would you please help to verify or supplement? loss reserves being discounted in difference situations (exce…
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By looking at the account treatments of retroactive reinsurance, it seems that retroactive reinsurance is not really considered as a valid reinsurance. Is there any reason behind? A sidetrack question, is portfolio reinsurance also a kind of retroa…
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I just found that 2014.F.3c treats FAD and FAWG as examples of duplication of efforts.
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So dividend received from unaffiliated entity is no longer considered as investment income for both SAP and tax basis? If it is the case, what is the current accounting treatment for dividend received?
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Is the risk transfer test application to both SAP and GAAP?
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What if it is like 2015.Spring_(13), simply asking you to explain why without stating how many reasons (though the 0.5 point implicitly tell you). Will it be beneficial to answer more?
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Is it the special treatment under schedule P only or is it also the case in other parts of the annual statements (e.g. balance sheet, e.g. sch F, etc) (i.e. basically the change of allocation can date back) ?
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Regarding calculation of EP, why only 8.5 months were earned instead of 9 months? Apr to Dec should be 9 full month and I thought we only assumed earning in the middle of the month for a bulk of uniformly written policy.
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The question asks two changes in the surplus that do not flow through to the statement of income. However, the change of provision of RI and change of unrealized capital gain are actually appearing in the statement of income but just not in the calc…
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in wiki: gain is recorded as a write-in gain [ note: gain = (negative write-in liability) – (cost of reinsurance) ] ==> goes into other income ==> no change to regular surplus because change goes into special surplus If the gain goes…
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I am confused about the intercompany pooling treatment in this question. The loss happened in 2010 at that time the pooling arrangement is 50% but the answer use the latest arrangement (which was changed in 2012) of 25%. That means intercompany pool…
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the answer states Surplus Aid = Estimated reinsurance commission rate x unearned premium on reinsurance ceded to non‐affiliates. However, why it is using the total unearned premium for the calculation? Or is it assuming all UEP is ceded (which looks…
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From (a) i understand the item "reserve for rate credits and retrospective adjustments based on experience" is not under UEP. Then, where should be it placed? If it is a kind of liability, why it is not considered in part(b) calculation?
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I am curious how the non-tabular discount in the TAC formula is calculated, though i expect it should be provided in the question. Can anyone explain a bit more?
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In the wiki article of GAAP, the relationship between SAP and GAAP surplus is GAAP surplus = SAP surplus + (provision for reinsurance) + DAC If there is URR under GAAP, isn't that URR should be also be deducted?
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I noted that the study sheet is updated. But i cannot find the details of Financial Stability Oversight Committee (FSOC) in the Dodd-Frank Act wiki article. By using the search function, i found this word in an article called "Baribeau.Regs" which i…
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in the study sheet, under Exclusive state fund, it says * no advertising or commission, savings are passed to the consumer * lack of competition an, lack of choices, it's often more expensive These 2 points seem to be contradicting. Is it che…