graham
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I believe the examiners' report is incorrect. A percent of income could be a valid option for a materiality standard in the right circumstances. Choosing a percentage of net income as a materiality threshold reflects an assessment based on the in…
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@agnichatter, here's the solution. You should be able to click to download the Excel file.
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The explanation after the sample answers in the examiners' report seems to say that multiple approaches to handling the Deferred Tax Asset (DTA) were accepted due to the lack of clarity in how it should be applied. Specifically, treating the change …
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Hello @mballard I have inserted the "-1" into the earlier comment. Thanks.
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Hello @Emma The cheat sheet has been corrected. Thank for pointing this out.
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Never would have thought of that! I like it. (I gave you a shout-out the BattleCard in quiz 2 of that chapter.)
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This is not explicitly mentioned in the source text as it is for the ARP. In general, it can vary by state but you can assume that these items would make a driver ineligible for the RF or JUA: * no valid driver's license * certain felony convi…
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We will look into this and get back to you. Thanks.
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The specific federal law that applies and supersedes state law and the McCarran-Ferguson Act in the case of State Board of Insurance v. Todd Shipyards Corporation is not directly mentioned in the document. That means you would not have to know it fo…
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No, you don't need to know the details. And it's likely the advantages of the alternative methods wouldn't be asked either but we threw it into the cheat sheet just for completeness. There is plenty of other good testable material from the IEE ch…
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Yup, it seems like a simple little calculation, but you have to stop and think it through! For reference, here are the links to the question and answer: * https://www.battleacts6us.ca/wiki6us/Odomirok.19-RBC#Bond_Size_Charge_.28BSC.29 * https:…
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Yes, that's correct. References to BCAR have been removed. Thx!
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Awesome! I've added you to the list here: * https://battleacts6us.ca/wiki6us/Odomirok.19-RBC#Alice.27s_2nd_Day_.28Trend_Test_.26_Risk_Categories.29
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I'm not sure there are any text examples or examples of past exam questions where a distinction is made between federal and non-federal TLFs. Since insurance companies are regulated at the state level they often have to pay state taxes, licensing fe…
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This was a tricky quesiton. Pension liabilities isn't one of the "C-STORM" excluded insurance lines because employee pension liabilities are not reserves on an insurer's balance sheet. State guaranty funds are designed to protect policyholders (n…
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That's very true!! See here: * https://battleacts6us.ca/wiki6us/ASOP.41#Communications
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My bad. It's corrected, thanks! * https://battleacts6us.ca/wiki6us/Germani.GovtIns#Two_Final_Exam_Problems
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Sorry, my mistake. It's corrected. Thx! * https://battleacts6us.ca/wiki6us/Odomirok.15-P#Overview_.26_Organization_of_Schedule_P
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It's likely assumed that the other actuary is properly qualified. In any case, you just have to know the following paragraph from section 4.10 of the COPLFR reading:
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Yes, it means the same thing here. If there is one year reserve development in excess of 5% then that would be considered adverse development because 5% is a positive number. I hope you're finding the formula sheets useful. We did a complete revi…
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The range calculation of 54,000 to 66,000 is based on these 2 pieces of information given in the problem: * * The first table above implies the actuary's point-estimate is 40,000 + 20,000 = 60,000. Then the second piece of informatio…
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Sorry, that was leftover from an Easter Egg I included last summer. The "puzzle" was to sum the numbers in the countdown (the sum was 55) then you emailed the correct answer and if correct you got a shout-out on the summer surprise page. I just forg…
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Note: This discussion was moved from AAA.RetainedRisk to NAIC.RRG.
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Corrected, thx! * https://battleacts6us.ca/wiki6us/Odomirok.14-F#2018.Spring_.239_.28essay.29
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Hey @pbolgert, Thanks for the comment. You really dug down to find that. As you said, it really doesn't resolve the issue however. I've pasted the reference below:
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No, the graders are aware of that trick that candidates use! They have specifically stated that if they ask for 3 items they would only grade the first 3 responses and ignore any others.
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Absolutely!
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I will look into this and get back to you. Answer: You are correct and I have removed the reference to the capping for authorized reinsurers. I believe you are also correct that it's moot since according the formulas, the provision should never e…
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Battle Cards and flash cards are the same thing. The name I gave to the flash cards within the BattleActs system is "Battle Cards". This was just a fun way to stay within the "battle" theme of the BA system. At least I hope people find it fun. …
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Chapter 5 of the COPLFR source text, which covers the Relevant Comments section of the SAO, has a section on long duration contracts. In that section (see screen shot below) they mention that the relevant comments regarding long duration contracts a…