Staff-T1
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You start by determining how you'd want to calculate your RA for reinsurance held. If it is the difference in risk position, you can use one of the 4 methods in step 2. Usually for the cost of reinsurance, you'd directly use the reinsura…
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It would be the same as with the ARC. For reinsurance contracts held, it's AIC and ARC. The "A" stands for Asset here since it is something that you are owed from the reinsurer. LRC and LIC are for direct and reinsurance issued and that's why the "L…
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Which article are you looking at specifically?
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yes
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I'm not sure what you are referring to - But discounted Cost of capital is calculated by multiplying the capital needed at each period by the discount factor and CoC and then summing them
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I see what you mean yeah. I'll fix the typo
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Yes that's fine I guess
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Yes, I believe the expense amounts come from the 385. The material doesn't go into too much detail about this but I believe the expense allowance would be reimbursed first to allow for insurers to service their policies. The remaining premium net of…
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You can ignore those that point to Dibra.fail
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Arising out of use of the vehicle
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"A reviewer may not be an employee of the company or any affiliated companies, and may not have been employed by the company or served as AA of the company during the three years prior to the date of the work being reviewed" So it depends on when t…
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Yes thanks for pointing it out
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Yup it's a >= condition. In general, its always >=, except for the solvency scenario where Assets must be strictly > Liabilities
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Grouping 3 and 5 together is straight out wrong. You cannot group onerous contracts with non-onerous contracts. Group 4 is PAA eligible so you can combine 3 and 4 together using PAA (Through the materiality threshold). In general, yes you should …
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That's right
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It's still up to date. The title just wasn't changed
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There's no need for a RA under the PAA method for LRC. If a GoC is onerous, then you are basically using the GMA method to calculate your LC
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Its similar but not quite -> An amount would be something that is more objective and should be the same for different firms. Compensation however is more subjective and would vary depending on the risk appetite of each firm. A firm with a lower t…
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* For your first point, that is how it works * Correct * Its an actual cash payment from the pool based on the EP. It comes directly from the ceded EP * The carrier has to continue to service the claims and administer the policy despite ceding to…
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Okay, I see what you mean. The difference in 22a is that you are calculating the CSM at time 0, and those DAC have not been incurred yet. Once they have been incurred, then they are no longer included in the CSM calculation
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I would say yes because 5.1.1.2 says LIC not LIC excluding RA
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That's right
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The discount curves are not curves meant to discount any specific Accident Years. They are yield curves meant to discount cash flows at certain periods in time. In other words, cash flows paid in year 1 after 2023 would be discounted at Year 1 rates…
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If you combine Steps D and E together in 5.1.2, you will reach the same logic of ABS(A-B). It's basically just algebra and manipulating the negative signs. It just makes it simpler to say ABS(A-B) The puzzler is highlighting something that doesn'…
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They do
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I have already answered this question here: https://battleactsmain.ca/vanillaforum/discussion/1615/how-to-win-the-rsp-game#latest
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Yes, DAC is for premiums received and FAC is for premiums receivable. This is shown in the sample LRC file provided by the CAS
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No it is not outdated. It is in the MCT operational risk section. No need to memorise the factors, I have seen them provided in every single MCT question in the past
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Probably means that it will not be considered as evidence for judgement
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It says it is a material event occurring on Jan 15 2016 so your example there would not be valid as your example does not occur on a single day. I think if its open ended it would be reasonable to assume an event -> This is not one of those situa…