Odomirok.20-IRIS
Chapter 20 from Odomirok is a companion to NAIC.IRIS, but Odomirok doesn't cover any of the IRIS formulas. Instead, it provides a more conceptual discussion of the IRIS ratios, including the analyst team's 3 levels of regulatory intervention (A, B, no level). It's an easy read, only 3 pages.
Study Tip
You can completely skip reading this chapter but if you're too nervous to do that, use it for bedtime reading. It's only 3 pages and has no formulas. The formulas are discussed in detail in the other IRIS reading NAIC.IRIS.
BattleTable
See NAIC.IRIS for relevant exam problems
- this reading has not been tested on any exam from the year 2012 and subsequent
reference part (a) part (b) part (c) part (d) no prior questions
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In Plain English!
Virtually everything you need to know about IRIS ratios is in the NAIC.IRIS. The IRIS chapter in Odomirok is very short and has only 1 thing that doesn't seem to be in the NAIC reading.
Odomirok briefly discusses the Analyst Team of financial examiners from all 4 geographic regions of the U.S. They categorize companies into 3 levels according to their IRIS results and other solvency monitoring tools like RBC:
- Level A: requires immediate regulatory attention
- Level B: shows adverse results but doesn't require immediate attention
- Reviewed: no level assigned, and no regulatory attention required.
That's it.
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