jono1234
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Apologies, I was referring to Fall 2017 Q28 a). In the SSAP 62R wiki:
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Regarding Hi_Hi's comment, it seems to me that they didn't discount the loss to 1/1/2016, they "discounted" to 12/31/2016. The last bullet point says they expect losses to be 7000 and paid a year after being reported. So I guess they set up case r…
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Was a few seconds too late to edit, but it seems like Cedar supports my hypothesis as well. (Much more clearly too!)
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I also spent way too long trying to figure this out (instead of spending some of my last hours practicing on the more high-return topics.. sigh 😭), but I feel like it makes more sense and for there to be more support in the COPFLR/SSAP texts that re…
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Are the answer choices in part a) of this question outdated or something? It seems like it should be retroactive for 60 days and prospective afterwards according to below. Or am I misunderstanding?
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Great idea and done, thank you!
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Do you guys think you could put a footnote in the wiki for this that there is at least one error in sample 2? I was confused as well.
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This question is confusing to me. I don't see how one could conclude that reserves are inadequate given what's in the question. Would it be better to have said "provide reasons a user might suspect that reserves may be inadequate?" Even in the fi…
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I think if you copy-paste the whole link including the .pdf, it should work, but here it is again (never mind, having trouble getting it to work), and it's in the IRIS wiki. https://www.battleacts6us.ca/pdf/Odomirok.Ch08_(18F.16).pdf
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Yeah, unfortunately couldn't find out how to delete the duplicate, if even possible
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The wiki says that parts c and d are incorrect in the examiners' report. What is correct then? Here are my guesses: For ERD (from Fall 2019 Q27): ERD takes into account a small chance of a large loss to the reinsurer happening whereas the…
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Is there a list somewhere that states what exactly is strictly required in each section of the SAO? Or even including the AOS and actuarial report? Probably not, but it may be helpful to have, considering these seem to come up once in a while (inc…
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I understand most of the above and why the net realized capital gains less tax is not included in the final calculation for this question, but I'm not understanding this PDF from Fall 2017; is it correct? https://www.battleacts6us.ca/pdf/Odomirok…
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Thank you! Also, I meant other income* not other expenses
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But wouldn't it count towards "received in last 90 days"?
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I'm confused by Emma's comment pointing out that the Examiner's report includes paid recoverables, because it looks like the examiner's report is not including paid recoverables. Wouldn't it only be a recoverable (able to be recovered) if it hasn't…
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If I'm understanding this correctly (not necessarily related to the comments above, but just the calculation in general), if the insured paid $1M in losses on 1/1/2018, which the reinsurer paid entirely on 12/30/2018, this would contribute $0 to the…
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To check, would the answer to part (b) with operational risk be $3,798,291.90?
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Definitely understand losing the filter late at night, haha; I've probably even done that on this forum. Thank you, Graham!
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taxes, licenses, and fees^ You can sort of find it in the IEE article. Side note - this is definitely subjective, but I'm not sure about the helpfulness of the comments in that article talking about how boring the material is. I think it's poss…
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Would the answer to part a of this question probably be $.750M now because we should assume/include an operational charge of 3%?
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One reason listed in the Spring 2019 Examiner's Report for why a regulator might respond slowly (Q3 c) was "Regulators use data that are updated infrequently (e.g. the annual statement), so it may take time to determine that the insurer is in financ…
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Makes sense, thank you!
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Great, thank you!
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Is the loss reserve retained until the annuity is fully paid out? Is the equivalent reinsurance recoverable equal to the loss reserve or to the cost of the annuity? Or are these all the same?
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There's a note saying that no comment on UEPR is necessary, but can a comment such as the following be acceptable? "I am unable to issue an opinion on the unearned premium reserves for P&C long duration contracts or other loss reserve items d…
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In terms of the GAAP treatment for structured settlements not fully released, how exactly does it work? My first thought was that loss reserves are retained on the balance sheet, and then assets slowly increase as annuity payments are made (as the …
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That's true, thank you. I would appreciate answers if you have them, but no worries if not. I'm slightly more interested in my second question and can accept that the 1st question is just something like "it is what it is".
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Actually, maybe the definition of admitted vs. non-admitted on pg. 26 clears things up a bit, as real estate can eventually be sold to meet liabilities, even if it takes time? But then furniture maybe could too.. I think I'll just have to take s…
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Great, thank you for the response!