ASOP.43 - Revision history

Graham at 15:01, 6 December 2025

2025-12-06T15:01:12Z

Graham at 15:01, 6 December 2025

2025-12-06T15:01:02Z

Graham at 21:59, 27 November 2025

2025-11-27T21:59:08Z

Graham: /* In Plain English! */

2025-11-23T22:54:36Z

‎In Plain English!

Graham: /* Study Tips */

2025-11-16T15:22:05Z

‎Study Tips

Graham: /* In Plain English! */

2025-11-16T15:14:00Z

‎In Plain English!

Graham: /* In Plain English! */

2025-11-16T15:11:49Z

‎In Plain English!

Graham: /* In Plain English! */

2025-11-16T15:11:17Z

‎In Plain English!

Graham: /* In Plain English! */

2025-11-16T15:10:33Z

‎In Plain English!

Graham: /* In Plain English! */

2025-11-16T15:08:23Z

‎In Plain English!

@@ Line 9: / Line 9: @@
 [https://battleacts8.ca/6u/video/460_Unpaid_Claims_(v01).mp4 <span style="color: black; font-size: 12px; background-color: aqua; border: solid; border-width: 2px; border-radius: 10px; border-color: aqua; padding: 5px 10px 5px 10px; margin-top: 100px;">'''(6:45) &rarr; Unpaid Claim Estimates - General Overview'''</span>] &nbsp;&nbsp;
 ([[Videos |Click here for all currently available videos.]])
 ASOP 43 provides guidance to actuaries when performing professional services relating to the estimation of loss and loss adjustment expense for unpaid claims for property/casualty coverages.

@@ Line 5: / Line 5: @@
 [https://battleacts.discourse.group/c/candidates-6u/asop-43/218<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
 [https://www.battleacts6us.ca/vanillaforum6us/categories/asop-43 ''&nbsp;&nbsp; (Or click here for Legacy Forum &ndash; no longer monitored)''</span>]
 ASOP 43 provides guidance to actuaries when performing professional services relating to the estimation of loss and loss adjustment expense for unpaid claims for property/casualty coverages.

@@ Line 3: / Line 3: @@
 '''Author''': Actuarial Standards Board of the American Academy of Actuaries
-[https://www.battleacts6us.ca/vanillaforum6us/categories/asop-43<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
+[https://battleacts.discourse.group/c/candidates-6u/asop-43/218<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
 ASOP 43 provides guidance to actuaries when performing professional services relating to the estimation of loss and loss adjustment expense for unpaid claims for property/casualty coverages.

@@ Line 52: / Line 52: @@
 ==In Plain English!==
-The quiz covers <u>items</u> the AA must identify regarding unpaid claims estimates, <u>factors</u> that should be considered when selecting a methodology, and items that must be<u>disclosured</u> within the report.
+The quiz covers <u>items</u> the AA must identify regarding unpaid claims estimates, <u>factors</u> that should be considered when selecting a methodology, and items that must be <u>disclosed</u> within the report.
 :{| class='wikitable'

@@ Line 28: / Line 28: @@
 * [[ASOP.41]] ''(Communications)''
 * [[ASOP.43]] ''(Reserve Estimates)''.
 '''Estimated study time''': 30 minutes ''(not including subsequent review time)''

@@ Line 50: / Line 50: @@
 ==In Plain English!==
-The quiz covers <u>items</u> the AA must identify regarding unpaid claims estimates, <u>factors</u> that should be considered when selecting a methodology, and required <u>disclosures</u> within the report.
+The quiz covers <u>items</u> the AA must identify regarding unpaid claims estimates, <u>factors</u> that should be considered when selecting a methodology, and items that must be<u>disclosured</u> within the report.
 :{| class='wikitable'
 |-
-|| '''Question''': identify specific <u>items</u> the AA must IDENTIFY regarding the unpaid claim estimate. [Hint: <span style="color: red;">'''clms-RED'''</span>]
+|| '''Question''': identify specific <u>items</u> the AA must '''IDENTIFY''' regarding the unpaid claim estimate. [Hint: <span style="color: red;">'''clms-RED'''</span>]
 |}
@@ Line 68: / Line 68: @@
 :{| class='wikitable'
 |-
-|| '''Question''': identify specific factors the AA should CONSIDER when selecting a reserving method [Hint: <span style="color: red;">'''P'''</span>a<span style="color: red;">'''NDA'''</span> (the first "a" doesn't stand for anything)]
+|| '''Question''': identify specific <u>factors</u> the AA should '''CONSIDER''' when selecting a reserving method [Hint: <span style="color: red;">'''P'''</span>a<span style="color: red;">'''NDA'''</span> (the first "a" doesn't stand for anything)]
 |}
@@ Line 79: / Line 79: @@
 :{| class='wikitable'
 |-
-|| '''Question''': identify specific items the AA should DISCLOSE regarding the unpaid claim estimate [Hint: <span style="color: red;">'''PAR'''</span>
+|| '''Question''': identify specific items the AA should '''DISCLOSE''' regarding the unpaid claim estimate [Hint: <span style="color: red;">'''PAR'''</span>]
 |}

@@ Line 58: / Line 58: @@
 :* <span style="color: red;">'''clms'''</span> (obvious!)
-::: claims covered (line, state, …)
+::: - claims covered (line, state, …)
 :* <span style="color: red;">'''R'''</span>einsurance:
-::: net/gross basis, uncollectability risk
+::: - net/gross basis, uncollectability risk
 :* <span style="color: red;">'''E'''</span>xpenses
-::: types of unpaid adjustment expenses included in loss estimate
+::: - types of unpaid adjustment expenses included in loss estimate
 :* <span style="color: red;">'''D'''</span>iscounting:
-::: does estimate include discounting?
+::: - does estimate include discounting?
 :{| class='wikitable'
@@ Line 72: / Line 72: @@
 :* <span style="color: red;">'''P'''</span>urpose of analysis
-::: internal or external use
+::: - internal or external use
 :* <span style="color: red;">'''N'''</span>ature of claims
 :* <span style="color: red;">'''D'''</span>ata availability
@@ Line 83: / Line 83: @@
 :* <span style="color: red;">'''P'''</span>urpose & scope of analysis
-:* <span style="color: red;">'''A'''</span>ccounting date, valuation date, review date (shout-out to BP!)
+:* <span style="color: red;">'''A'''</span>ccounting date, valuation date, review date
 :* <span style="color: red;">'''R'''</span>MAD: sources of risks, significant events
 [https://www.battleacts6us.ca/FC.php?selectString=**&filter=both&sortOrder=natural&colorFlag=allFlag&colorStatus=allStatus&priority=importance-high&subsetFlag=miniQuiz&prefix=ASOP&suffix=43&section=all&subSection=all&examRep=all&examYear=all&examTerm=all&quizNum=all<span style="font-size: 20px; background-color: lightgreen; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 10px;">'''Full BattleQuiz]'''</span> <span style="color: red;">'''You must be <u>logged in</u> or this will not work.'''</span>

@@ Line 71: / Line 71: @@
 |}
-:* '''P'''urpose of analysis
+:* <span style="color: red;">'''P'''</span>urpose of analysis
 ::: internal or external use
-:* '''N'''ature of claims
+:* <span style="color: red;">'''N'''</span>ature of claims
-:* '''D'''ata availability
+:* <span style="color: red;">'''D'''</span>ata availability
-:* '''A'''ssumptions underlying methods – appropriate?
+:* <span style="color: red;">'''A'''</span>ssumptions underlying methods – appropriate?
 :{| class='wikitable'