F

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Based on past exams, the main things you need to know (in rough order of importance) are:

• reinsurance provision calculation
• Sched F solvency testing - strengths & weaknesses of using Schedule F for solvency testing
• SAO reinsurance collectability amount versus Schedule F reinsurance provision
• "Certified" category - benefits to insurers & reinsurers of this special category

reference	part (a)	part (b)	part (c)	part (d)
E (2018.Spring #9)	define: - reinsurer recoverable	define: - reinsurer payable	define: - reinsurer funds held	define: - reinsurance provision
E (2017.Fall #14)	balance sheet: - restate to gross of re	Sched F solvency testing: - strength/weakness
E (2017.Spring #14)	reinsurance provision: - calculate	"Certified" category: - benefits	reinsurance provision: - how to improve
E (2016.Fall #13)	reinsurance provision: - calculate	Sched F solvency testing: - strength/weakness
E (2016.Spring #14)	reinsurance provision: - calculate	"Certified" category: - benefits
E (2015.Spring #15)	reinsurance provision: - calculate	reinsurance provision: - how to reduce	SAO reins. collectability: - vs. Sched F provision
E (2013.Fall #16)	SCENARIO: - slow-paying reinsurer?	reinsurance provision: - calculate	reinsurance provision: - calculate (unauthorized re)	Sched F solvency testing: - potential enhancments
E (2012.Fall #19)	reinsurance provision: - calculate	SAO reins. collectability: - vs. Sched F provision	SAO reins. collectability: - vs. Sched F provision	Sched F solvency testing: - strength/weakness

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In Plain English!

Introduction

Schedule F is all about reinsurance. When I start a new chapter, I like to orient myself by sketching out the chapter contents. According to Odomirok, Schedule F has 8 parts. Links to Liberty Mutual's Schedule F are provided below. Spend a few minutes looking at these exhibits. You'll become more familiar with them as we work through the calculations later in this wiki article.

link	title/topic	pagerRange	# of Pages
Schedule F – Part 1	assumed reinsurance	110-114	5 pages
Schedule F – Part 2	premium portfolio reinsurance	114-114	1 pages
Schedule F – Part 3	ceded reinsurance	115-121	7 pages
Schedule F – Part 4	ceded reinsurance (aging)	121-122	2 pages
Schedule F – Part 5	provision for unauthorized reinsurance	122-126	5 pages
Schedule F – Part 6	provision for overdue authorized reinsurance	126-128	3 pages
Schedule F – Part 7	provision for overdue reinsurance	128-131	4 pages
Schedule F – Part 8	restatement of balance sheet (to identify net credit for reinsurance)	128-138	11 pages

2018.Spring #9

Let's look at this exam question from 2018.Spring:

E (2018.Spring #9)

I was little surprised because they haven't asked a question like this before. Most of the old questions are calculations. Anyway, they ask you to define and classify the given financial statement quantities as assets, liabilities, or income statement items. This is a very typical question from an accounting course and if you've had an accounting course, you'll probably find it easy. Here's how I think about it:

• Money coming in (a receivable or recoverable) is good! A receivable is an asset.
• Money going out (a payable) is bad! A payable is an liability.

...finish this later...

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BattleCodes

Memorize:

Conceptual:

Calculational: