For actuary B, won't the consulting firm that he currently works for counts as one of the 2 unrelated insurance companies, hence making him eligible to be a peer reviewer?
what about 2019 spring 25(d)
It does not mention 'newly hired' for Situation B
Won't the consulting firm that he currently works for counts as one of the 2 unrelated insurance companies?
Does consulting firm not count as insurance companies?
OR Is it due to his work at the consulting firm mainly about ratemaking?
In a consulting firm you work for clients who are insurers. The consulting firm itself is not an insurer which means he only has experience with one insurer
In part B it asks for the duties of the peer reviewer. I am trying to decipher the wording and based on the answer in the examiners report it looks like they are asking for the work the peer reviewer does (AM AA DIe MAD acronym). They also added that providing additional education and guidelines to AA was accepted, which I have under the objectives of the AA (AAR acronym). I guess the hint is that this question asks for 4 items and there are only 3 objectives in the source so that would help give away what they are looking for.
Wondering if there are any other ways to separate the objectives from the work that the peer reviewer completes and how to tell them apart if they don't use either of those words in the question like they did here? The two lists seem very similar to me and could both be interpreted as the "duties of the AA". Thanks!
I see your point.. CAS is known for being very 'grey' on these type of questions, and it's a bit of a coin toss.
I would say, your example you gave above is the best way to decipher the questions. Try to see how many points the question is worth or how many duties/objectives they ask for! Another one that I liked when writing exams is always highlighting what I stated. For example: The four duties of the AA are .. 1,2,3,4 and would write on the side or bottom somewhere that I am assuming the question is asking for the duties of the AA rather than objective. Hopefully this can provide some guidance-thanks!
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I think it says newly hired so that would mean he has only technically worked for one insurance company
what about 2019 spring 25(d)
It does not mention 'newly hired' for Situation B
Won't the consulting firm that he currently works for counts as one of the 2 unrelated insurance companies?
Does consulting firm not count as insurance companies?
OR
Is it due to his work at the consulting firm mainly about ratemaking?
In a consulting firm you work for clients who are insurers. The consulting firm itself is not an insurer which means he only has experience with one insurer
In part B it asks for the duties of the peer reviewer. I am trying to decipher the wording and based on the answer in the examiners report it looks like they are asking for the work the peer reviewer does (AM AA DIe MAD acronym). They also added that providing additional education and guidelines to AA was accepted, which I have under the objectives of the AA (AAR acronym). I guess the hint is that this question asks for 4 items and there are only 3 objectives in the source so that would help give away what they are looking for.
Wondering if there are any other ways to separate the objectives from the work that the peer reviewer completes and how to tell them apart if they don't use either of those words in the question like they did here? The two lists seem very similar to me and could both be interpreted as the "duties of the AA". Thanks!
I see your point.. CAS is known for being very 'grey' on these type of questions, and it's a bit of a coin toss.
I would say, your example you gave above is the best way to decipher the questions. Try to see how many points the question is worth or how many duties/objectives they ask for! Another one that I liked when writing exams is always highlighting what I stated. For example: The four duties of the AA are .. 1,2,3,4 and would write on the side or bottom somewhere that I am assuming the question is asking for the duties of the AA rather than objective. Hopefully this can provide some guidance-thanks!
Thanks for the answer, this is something I will for sure do!