Difference between revisions of "Odomirok.13"
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'''Author''': ''Kathleen C. Odomirok'', FCAS, MAAA, ''Liam M. McFarlane'', FCIA, FCAS, ''Gareth L. Kennedy'', ACAS, MAAA, ''Justin J. Brenden'', FCAS, MAAA, ''EY'' | '''Author''': ''Kathleen C. Odomirok'', FCAS, MAAA, ''Liam M. McFarlane'', FCIA, FCAS, ''Gareth L. Kennedy'', ACAS, MAAA, ''Justin J. Brenden'', FCAS, MAAA, ''EY'' | ||
− | + | [https://www.battleacts6us.ca/vanillaforum6us/categories/odomirok-13<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>] | |
− | + | {| class='wikitable' style='background-color: navajowhite; | |
+ | |- | ||
+ | || '''BA Quick-Summary''': <span style="color: green;>'''Schedules within Financial Statements'''</span> | ||
+ | |||
+ | Chapter 13 from Odomirok is an overview of various Schedules in the annual statement such as: | ||
+ | * '''Asset Schedules''': A, B, BA, D, DA, DB, DL, E | ||
+ | * '''Reinsurance''': Schedule F | ||
+ | * '''Loss & LAE Reserves''': Schedule P | ||
+ | * '''Premium Writings by State''': Schedule T | ||
+ | * '''Organizational Structure''': Schedule Y | ||
+ | |||
+ | These schedules are essential for stakeholders and regulators to analyze the '''financial health and risk exposures''' of the insurance company. | ||
+ | |||
+ | Each schedule serves a '''specific purpose''', from detailing assets and their valuations to outlining reinsurance and premium distributions across states. | ||
+ | |||
+ | |} | ||
==Study Tips== | ==Study Tips== |
Latest revision as of 23:20, 27 June 2024
Reading: Financial Reporting Through the Lens of a Property/Casualty Actuary - Chapter 13 - Overview of Schedules and Their Purpose
Author: Kathleen C. Odomirok, FCAS, MAAA, Liam M. McFarlane, FCIA, FCAS, Gareth L. Kennedy, ACAS, MAAA, Justin J. Brenden, FCAS, MAAA, EY
BA Quick-Summary: Schedules within Financial Statements
Chapter 13 from Odomirok is an overview of various Schedules in the annual statement such as:
These schedules are essential for stakeholders and regulators to analyze the financial health and risk exposures of the insurance company. Each schedule serves a specific purpose, from detailing assets and their valuations to outlining reinsurance and premium distributions across states. |
Study Tips
Spend no more 10 minutes on this chapter.
BattleTable
- this reading has not been tested on any exam from the year 2012 to Fall 2019 when the exams stopped being published.
reference part (a) part (b) part (c) part (d) no prior questions
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In Plain English!
For reference, here's a list of Schedules discussed in Chapter 13, but I don't think you have to memorize them or know any details beyond what's already covered in higher-ranked chapters. (I've highlighted in green the ones that most people would be able to identify.)
asset schedule information shown details A real estate Part 1: owned at year-end, Part 2: purchased during year, Part 3: sold during year B mortgage loans Part 1: owned at year-end, Part 2: acquired during year, Part 3: ended during year BA other long-term invested assets Part 1: owned at year-end, Part 2: purchased during year, Part 3: sold during year D stocks & bonds Part 1: bonds owned, Part 2: stocks owned DA other short-term investments Part 1: short-term investments, (no other parts to this schedule) DB derivatives Parts A, B, C, D: show different categories of derivatives DL securities lending Parts 1, 2: details of securities lending collateral assets E cash & cash equivalents Part 1: cash, Part 2: cash equivalents, Part 3: special deposits
Other common Schedules within the annual statement are:
schedule information shown F reinsurance (Odomirok.14-F) P loss & LAE reserves (Odomirok.15-P) T premium writings by state Y organizational structure
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