Difference between revisions of "BattleTables - COPLFR"

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| [https://www.battleacts6us.ca/pdf/Exam_(2014_1-Spring)/(2014_1-Spring)_(25).pdf <span style='font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 5px; padding: 2px 5px 2px 5px; margin: 5px;'>E</span>] <span style="color: red;">'''(2014.Spring #25)'''</span>
 
| [https://www.battleacts6us.ca/pdf/Exam_(2014_1-Spring)/(2014_1-Spring)_(25).pdf <span style='font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 5px; padding: 2px 5px 2px 5px; margin: 5px;'>E</span>] <span style="color: red;">'''(2014.Spring #25)'''</span>
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|| '''Relevant Comments''': <br> - pools & associations
 
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|| '''SAO opinion''': <br> - type of opinion
 
|| '''SAO opinion''': <br> - type of opinion

Revision as of 13:39, 6 February 2019

Back to COPLFR.SAO

Acronyms Used in the BattleTables

SAO: Statement of Actuarial Opinion
AOS: Actuarial Opinion Summary (AOS(A) refers to AOS item A)
RMAD: Risk of Material Deviation
Note that in the BattleTables below, you can click E in the left-hand column to open a PDF with the question and answer from the examiner's report for just that question.

2018 Exam Questions

reference part (a) part (b) part (c) part (d)
E (2018.Spring #20) AOS:
- items not in SAO 		SAO:
- required sections 		SAO:
- disclosures 		—
E (2018.Spring #21) disclosures:
- yes/no on 5 items 		— — —
E (2018.Spring #22) work of others:
- considerations 		Relevant Comments:
- changes in assumptions/methods 		Relevant Comments:
- no changes in assumptions/methods 		—
E (2018.Spring #23) Schedule P reconciliation:
- potential difficulties 		AOS(A):
- range of reserve estimate 		SAO opinion:
- type of opinion 		—
E (2018.Spring #24) AOS(A,B,C,D):
- identify contents 		AOS(E):
- interpretation by regulator 		AOS(E):
- calculation & disclosure 		—
E (2018.Spring #25) materiality standard:
disclosure considertions 1 		materiality standard:
potential difficulties 1 		RMAD:
- propose language 		—
1 Parts (a) & (b) are not specific to the SAO. The answers are in AAA.Materiality, a general reading on the concept of materiality.

2017 Exam Questions

reference part (a) part (b) part (c) part (d)
E (2017.Fall #22) SAO opinion:
- propose language 		SAO opinion:
- type of opinion 		AOS (A,B,C,D):
- construct items A-D 		—
E (2017.Fall #23) inter-company pooling:
- location in SAO 		inter-company pooling:
- identify errors 		inter-company pooling:
- describe concept 		—
E (2017.Fall #24) work of others:
- considerations 		work of others:
- disclosures 		work of others:
- disclosures 		—
E (2017.Fall #25) reinsurance collectibility:
- disclosures 		reinsurance collectibility:
- reasons for 		reinsurance collectibility:
- assessment of 		—
E (2017.Fall #26) materiality standard:
- propose a standard 		materiality standard:
- disclosures 		materiality standard:
- other standards 		materiality standard:
- location in SAO
reference part (a) part (b) part (c) part (d)
E (2017.Spring #13) inter-company pooling:
- Schedule P calculation 1 		inter-company pooling:
- non-Schedule P calc 1 		inter-company pooling:
- disclosures 		—
E (2017.Spring #22) materiality standard:
- propose 3 standards 		materiality standard:
- pick best standard 		RMAD:
- does RMAD exist 		—
E (2017.Spring #23) SAO:
- disclosures 		work of others:
- assessment 		SAO:
- identify errors 		—
E (2017.Spring #24) AOS (E):
- user/purpose 		AOS (E):
- language 		AOS (E):
- disclosures 		AOS (E):
- related resources
E (2017.Spring #25) RMAD scenario:
- identify risks 		RMAD scenario:
- mitigation 		RMAD scenario:
- issues with mitigation 		—
1 See the Schedule P article Odomirok.15-P for the material regarding parts (a) & (b).

2016 Exam Questions

reference part (a) part (b) part (c) part (d)
E (2016.Fall #20) SAO opinion:
- type of opinion 		RMAD:
- does RMAD exist 		RMAD:
- bright line indicator test 		—
E (2016.Fall #21) retroactive reinsurance:
- type of opinion 		retroactive reinsurance:
- treatment in SAO 		— —
E (2016.Fall #22) appointed actuary:
- standards for 		appointed actuary:
- info in SAO (id section) 		appointed actuary:
- info to regulator (new appointment) 		—
E (2016.Fall #23) SAO:
- purpose 		SAO:
- Relevant Comments (Exs) 		— —
E (2016.Fall #24) AOS:
- construct items A-E 		— — —
reference part (a) part (b) part (c) part (d)
E (2016.Spring #20) SAO opinion:
- type & disclosures 		AA qualifications:
- defn of qualified actuary 		— —
E (2016.Spring #21) data:
- data testing by auditor 		data:
- Sched P reconciliation 		errors:
- steps to take 		—
E (2016.Spring #22) RBC:
- Company Action Level 1 		SAO opinion:
- type & disclosures 		— —
E (2016.Spring #23) IRIS:
- disclosures 		IRIS 11:
- calculation & disclosures 		— —
E (2016.Spring #24) materiality standard:
- propose 3 standards 		RMAD:
- does RMAD exist 		RMAD:
- general risk factors 		—
E (2016.Spring #25) ASOPs:
- for analyzing reserves 		reporting:
- location of items 2 		— —
1 See RBC article Odomirok.19-RBC for the material regarding part (a).
2 General question on location of various items within: Actuarial Report, Annual Statement, SAO, AOS

2015 Exam Questions

reference part (a) part (b) part (c) part (d)
E (2015.Fall #21) appointed actuary:
- new appointment 		— — —
E (2015.Fall #22) SAO opinion:
- language for opinion 		RMAD:
- does RMAD exist 		AOS(E):
- calculate IRIS 11 		—
E (2015.Fall #23) materiality standard:
- propose 4 standards 		materiality standard:
- pick best standard 		RMAD:
- does RMAD exist 		Relevant Comments:
- assumptions / methods
E (2015.Fall #24) materiality:
- definition 1 		reserve range:
- calculation issues 2 		RMAD:
- analyze 3 scenarios 3 		—
E (2015.Fall #25) Scope:
- items to disclose 		discounting:
- items to disclose 		— —
1 See AAA.Materiality for the definition of materiality.
2 This is a general question on potential difficulties in calculating reserves ranges.
3 This is a general question on assessing RMAD for given scenarios.
reference part (a) part (b) part (c) part (d)
E (2015.Spring #22) materiality standard:
- propose 2 standards 		RMAD:
- does RMAD exist 		materiality standard:
- propose 2 more standards 		RMAD scenario:
- identify risks
E (2015.Spring #23) IRIS Ratio comments:
- location in SAO 		SAO:
- organization 		Relevant Comments:
- identify errors/omissions 		—
E (2015.Spring #24) SAO vs AOS:
- identify differences 		— — —

2014 Exam Questions

reference part (a) part (b) part (c) part (d)
E (2014.Fall #20) SAO opinion:
- type of opinion 		SAO opinion:
- reason for opinion 		SAO opinion:
- disclosures for opinion 		—
E (2014.Fall #21) SAO opinion:
- identify errors 		work of others:
- disclosures 		pools & associations:
- disclosures 		—
E (2014.Fall #22) materiality:
- propose 3 standards 		RMAD:
- does RMAD exist 		— —
E (2014.Fall #23) AOS (A,B,C,D):
- construct items A-D 		AOS (E):
- calculation & wording 		— —
reference part (a) part (b) part (c) part (d)
E (2014.Spring #24) materiality standard:
- propose/justify a standard 		materiality standard:
- location in SAO 		RMAD:
- does RMAD exist 		RMAD:
- language
E (2014.Spring #25) Disclosures (what & where):
- discounting 		Relevant Comments:
- pools & associations 		SAO opinion:
- type of opinion 		Relevant Comments:
- changes in assumptions/methods
E (2014.Spring #26) AOS:
- non-confidential info 1 		AOS:
- info not found elsewhere 		— —
1 A complete answer here requires knowledge of Schedule P. See Odomirok.15-P.

2013 Exam Questions

reference part (a) part (b) part (c) part (d)
E (2013.Fall #24) Relevant Comments:
- disclosures 1 		— — —
E (2013.Fall #25) Scope:
- contents 		Scope:
- identify errors 		— —
E (2013.Fall #26) SAO opinion:
- Exhibit A & Schedule P 2 		SAO opinion:
- Exhibit A 		— —
E (2013.Fall #27) qualified actuary:
- definition 		long-duration contract:
- definition 		SAO exemption:
- financial hardship 3 		RMAD:
- necessary disclosures
1 Open-ended question worth 5.25 pts on required disclosures in the Relevant Comments section of the SAO. It involves calculation of IRIS ratios. See NAIC.IRIS.
2 Were the requirements for Exhibit A changed since 2013? The answer in the examiner's report does not agree with Exhibit A in the SAO example from Odomirok:
Mr. Smith's SAO & AOS
3 This exemption is discussed in the first COPLFR appendix, 2016 NAIC Instructions, Section 1B.

2012 Exam Questions

reference part (a) part (b) part (c) part (d)
E (2012.Fall #25) disclosures:
- yes/no on 5 items 		— — —
E (2012.Fall #26) SAO opinion:
- type of opinion 		SAO opinion:
- qualified opinion 		— —
E (2012.Fall #27) SAO exemption:
- analyze 3 scenarios 1 		— — —
E (2012.Fall #28) materaility standard:
- justify actuary's selection 		materaility standard:
- identify management error 		materaility standard:
- propose an alternative 		—
E (2012.Fall #29) AOS(A,B,C,D):
-construct exhibit 2 		AOS(E):
- construct exhibit 3 		— —
1 This exemption is discussed in the first COPLFR appendix, 2016 NAIC Instructions, Section 1B.
2 Not enough information provided (actuary's range is not given)
3 Answer 1 in examiner's report is outdated
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