bulubala
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@Staff-T1 Sorry that I didn't make it clear. OSFI.AA battlecards saying that "FCT is performed directed by OSFI". OSFI.ORSA battlecards saying that "FCT is following CIA SoP", and has made this a difference compared to ORSA which is follo…
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@graham But investment yield is an old CCIR formula instead of an MSA ratio, right?
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@Staff-T1 No I don't agree. "Let's say we have an asset for acquisition cash flow of 100 for future contracts last year. When we recognize those "future contracts" this year, 100 needs to be subtracted from LRC and asset for acquisition cashflo…
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@lawtsm I believe your question is why CSM + FCF <> 0 at initial recognition. To better answer your question, I believe the source text assumed all premiums are paid upfront. The graph is actually not at initial inception. The graph starts…
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If collateral and payable are greater than reinsurance receivable, then it will be an net future outflow for the reinsurer and a net future inflow for the insurer. So it makes sense to subtract the excessive collateral from the capital required.
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In practice, the reference portfolio used to determine illiquidity premium should match the liquidity of the underlying contracts. So I believe that you cannot just say, let's use investments with higher returns as our reference portfolio to lower t…
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@graham Hi, I just saw the syllabus update that candidates will not be penalized for using the final version of the paper. https://www.casact.org/exams-admissions/resources/syllabus-updates Thanks,
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This is getting weird. The one I'm looking at is the OSFI site: https://www.osfi-bsif.gc.ca/Eng/fi-if/rg-ro/gdn-ort/gl-ld/Pages/mct23.aspx#Toc-4.2 And OSFI cite it as "Guideline" while the one cited on the CAS website is called "Draft Guideline"…
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Thank you again! But I'm defining my FCF as PV future outflow - PV future inflow. As per your last sentence, "If your unearned profits + net future cash flow < 0, this means you have a liability. If it is > 0, you have an asset.",can I inter…
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Also - I don't think CSM is booked as an asset at time 0. It may make more sense to say that the profits are booked as a negative liability at initial recognition.
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Thanks! Just a follow-up to your last sentence, Is it "unearned profits + net future cash flow > 0, this means you have a liability"?