Difference between revisions of "ASOP.43"
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| − | + | '''Reading''': “Actuarial Standard of Practice No. 43, '''Property/Casualty Unpaid Claim Estimates''',” June 2007, | |
| − | + | '''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>] | ||
| − | + | 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. | |
| − | + | {| class='wikitable' style='background-color: navajowhite; | |
| + | |- | ||
| + | || '''BA Quick-Summary''': <span style="color: green;>'''ASOP 43 - Unpaid Claim Estimates'''</span> | ||
| − | * | + | * ASOP No. 43 provides guidance to actuaries for '''estimating unpaid claims''' for property/casualty coverages. |
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| − | + | * It details the '''purpose and scope''' of these estimates, outlines <u>definitions</u> such as actuarial central estimate, and <u>discusses</u> the methods, models, and assumptions used in the analysis. | |
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| − | + | * ASOP 43 also emphasizes the importance of considering factors like: | |
| − | + | :* ''data quality, external conditions, and uncertainties'' | |
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|} | |} | ||
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| − | + | ==Study Tips== | |
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| + | There are 4 ASOPs: ''(Virtually all of the material in the ASOPs is included in higher-ranked readings.)'' | ||
| + | |||
| + | * [[ASOP.20]] ''(Discounting)'' | ||
| + | * [[ASOP.36]] ''(SAO)'' | ||
| + | * [[ASOP.41]] ''(Communications)'' | ||
| + | * [[ASOP.43]] ''(Reserve Estimates)''. | ||
| − | + | '''Estimated study time''': 30 minutes ''(not including subsequent review time)'' | |
| − | + | ==BattleTable== | |
| − | + | * ''this reading has not been tested on any exam from the year 2012 to Fall 2019, after which exams stopped being published.'' | |
| − | + | : {| class="wikitable" style="width: 1000px;" | |
| + | |- | ||
| + | ! style="width: 175px;" | reference !! style="width: 175px;" | part (a) !! style="width: 185px;" | part (b) !! style="width: 175px;" | part (c) !! part (d) | ||
| + | |- | ||
| + | || ''no prior questions'' | ||
| + | | style="background-color: lightgrey" | | ||
| + | | style="background-color: lightgrey" | | ||
| + | | style="background-color: lightgrey" | | ||
| + | | style="background-color: lightgrey" | | ||
| − | + | |} | |
| + | ==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. | |
| − | == | + | [https://www.battleacts6us.ca/FC.php?selectString=**&filter=both&sortOrder=natural&colorFlag=allFlag&colorStatus=allStatus&priority=importance-high&subsetFlag=miniQuiz&prefix=ASOP&suffix=43§ion=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> |
Latest revision as of 19:39, 26 June 2024
Reading: “Actuarial Standard of Practice No. 43, Property/Casualty Unpaid Claim Estimates,” June 2007,
Author: Actuarial Standards Board of the American Academy of Actuaries
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.
BA Quick-Summary: ASOP 43 - Unpaid Claim Estimates
|
Study Tips
There are 4 ASOPs: (Virtually all of the material in the ASOPs is included in higher-ranked readings.)
Estimated study time: 30 minutes (not including subsequent review time)
BattleTable
- this reading has not been tested on any exam from the year 2012 to Fall 2019, after which exams stopped being published.
reference part (a) part (b) part (c) part (d) no prior questions
In Plain English!
The quiz covers items the AA must identify regarding unpaid claims estimates, factors that should be considered when selecting a methodology, and required disclosures within the report.
Full BattleQuiz You must be logged in or this will not work.
