BattleTables - COPLFR
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Contents
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. |
2019 Exam Questions
reference part (a) part (b) part (c) part (d) E (2019.Spring #22) SAO opinion:
- type of opinionRMAD:
- does RMAD existSAO opinion:
- new LOB
2018 Exam Questions
reference part (a) part (b) part (c) part (d) E (2018.Fall #21) SAO opinion:
- Exhibit A & Schedule PAOS (A,B,C,D):
- construct items A-DSAO opinion:
- type of opinion— E (2018.Fall #22) SAO opinion:
- language for opinionRMAD:
- propose languagemateriality standard:
- other standards— E (2018.Fall #23) reporting:
- location of itemScope:
- identify errors/omissionsSAO opinion:
- type of opinion— E (2018.Fall #24) disclosures:
- location of 8 items— — —
reference part (a) part (b) part (c) part (d) E (2018.Spring #20) AOS:
- items not in SAOSAO:
- required sectionsSAO:
- disclosures— E (2018.Spring #21) disclosures:
- yes/no on 5 items— — — E (2018.Spring #22) work of others:
- considerationsRelevant Comments:
- changes in assumptions/methodsRelevant Comments:
- no changes in assumptions/methods— E (2018.Spring #23) Schedule P reconciliation:
- potential difficultiesAOS(A):
- range of reserve estimateSAO opinion:
- type of opinion— E (2018.Spring #24) AOS(A,B,C,D):
- identify contentsAOS(E):
- interpretation by regulatorAOS(E):
- calculation & disclosure— E (2018.Spring #25) materiality standard:
- disclosure considertions 1materiality standard:
- potential difficulties 1RMAD:
- 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 languageSAO opinion:
- type of opinionAOS (A,B,C,D):
- construct items A-D— E (2017.Fall #23) inter-company pooling:
- location in SAOinter-company pooling:
- identify errorsinter-company pooling:
- describe concept— E (2017.Fall #24) work of others:
- considerationswork of others:
- disclosureswork of others:
- disclosures— E (2017.Fall #25) reinsurance collectibility:
- disclosuresreinsurance collectibility:
- reasons forreinsurance collectibility:
- assessment of— E (2017.Fall #26) materiality standard:
- propose a standardmateriality standard:
- disclosuresmateriality standard:
- other standardsmateriality standard:
- location in SAO
reference part (a) part (b) part (c) part (d) E (2017.Spring #13) inter-company pooling:
- Schedule P calculation 1inter-company pooling:
- non-Schedule P calc 1inter-company pooling:
- disclosures— E (2017.Spring #22) materiality standard:
- propose 3 standardsmateriality standard:
- pick best standardRMAD:
- does RMAD exist— E (2017.Spring #23) SAO:
- disclosureswork of others:
- assessmentSAO:
- identify errors— E (2017.Spring #24) AOS (E):
- user/purposeAOS (E):
- languageAOS (E):
- disclosuresAOS (E):
- related resourcesE (2017.Spring #25) RMAD scenario:
- identify risksRMAD scenario:
- mitigationRMAD 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 opinionRMAD:
- does RMAD existRMAD:
- bright line indicator test— E (2016.Fall #21) retroactive reinsurance:
- type of opinionretroactive reinsurance:
- treatment in SAO— — E (2016.Fall #22) appointed actuary:
- standards forappointed actuary:
- info in SAO (id section)appointed actuary:
- info to regulator (new appointment)— E (2016.Fall #23) SAO:
- purposeSAO:
- 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 3AA qualifications:
- defn of qualified actuary— — E (2016.Spring #21) data:
- data testing by auditordata:
- Sched P reconciliationerrors:
- steps to take— E (2016.Spring #22) RBC:
- Company Action Level 1SAO opinion:
- type & disclosures— — E (2016.Spring #23) IRIS:
- disclosuresIRIS 11:
- calculation & disclosures— — E (2016.Spring #24) materiality standard:
- propose 3 standardsRMAD:
- does RMAD existRMAD:
- general risk factors— E (2016.Spring #25) ASOPs:
- for analyzing reservesreporting:
- 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
- 3 Question #20a.i has an error in the examiner's report. The examiner's report states that the other actuary's credentials is not a required disclosure. This is incorrect as Section 4.10 of COPLFR does indeed state credentials as one of the required disclosures.
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 opinionRMAD:
- does RMAD existAOS(E):
- calculate IRIS 11— E (2015.Fall #23) materiality standard:
- propose 4 standardsmateriality standard:
- pick best standardRMAD:
- does RMAD existRelevant Comments:
- assumptions / methodsE (2015.Fall #24) materiality:
- definition 1reserve range:
- calculation issues 2RMAD:
- analyze 3 scenarios 3— E (2015.Fall #25) Scope:
- items to disclosediscounting:
- 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 standardsRMAD:
- does RMAD existmateriality standard:
- propose 2 more standardsRMAD scenario:
- identify risksE (2015.Spring #23) IRIS Ratio comments:
- location in SAOSAO:
- organizationRelevant 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 opinionSAO opinion:
- reason for opinionSAO opinion:
- disclosures for opinion— E (2014.Fall #21) SAO opinion:
- identify errorswork of others:
- disclosurespools & associations:
- disclosures— E (2014.Fall #22) materiality:
- propose 3 standardsRMAD:
- does RMAD exist— — E (2014.Fall #23) AOS (A,B,C,D):
- construct items A-DAOS (E):
- calculation & wording— —
reference part (a) part (b) part (c) part (d) E (2014.Spring #24) materiality standard:
- propose/justify a standardmateriality standard:
- location in SAORMAD:
- does RMAD existRMAD:
- languageE (2014.Spring #25) Disclosures:
- discountingDisclosures:
- pools & associationsDisclosures:
- type of opinionDisclosures:
- changes in assumptions/methodsE (2014.Spring #26) AOS:
- non-confidential info 1AOS:
- 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:
- contentsScope:
- identify errors— — E (2013.Fall #26) SAO opinion:
- Exhibit A & Schedule P 2SAO opinion:
- Exhibit A— — E (2013.Fall #27) qualified actuary:
- definitionlong-duration contract:
- definitionSAO exemption:
- financial hardship 3RMAD:
- 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:
- 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 opinionSAO opinion:
- qualified opinion— — E (2012.Fall #27) SAO exemption:
- analyze 3 scenarios 1— — — E (2012.Fall #28) materaility standard:
- justify actuary's selectionmateraility standard:
- identify management errormateraility standard:
- propose an alternative— E (2012.Fall #29) AOS(A,B,C,D):
-construct exhibit 2AOS(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