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This is the correct interpretation
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I think if you have some context about the current (2024 state) of the AB auto landscape, any answers would be accepted. I also think that you can't go wrong answering based on the actual source paper. These all depends on the context of the questio…
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What is being said in that sentence is that government reinsurance can be used instead of traditional reinsurance where government reinsurance is optional. Reinsurance loading goes towards private reinsurance purchases by the province. This is st…
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You can do that
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If FSRA has to list every single possible prohibited rating variable that we can think of that list would be 10 pages long
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I'll take a look and get back to you
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It's an assumption. If nothing is stated in the question, any assumption that you make will be accepted. Maintenance costs directly attributable to the contract would be included in the LRC. And yes this is because we are doing a GMA calculation. …
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Line 320 = Expand the Excel cell
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PAA LIC = GMA LIC. There is no different method to calculate the LIC
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How much profit do I make in the following scenarios: * Shift everything by 500, if my FCF is -1000 and my PAA LRC is 0 * If my expected profit or FCF = 0, and my PAA LRC is 500 * If I have reserved 500 for a policy; nothing happens after, I …
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Thank you, cornedov. That is a good explanation
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When we write exam questions, we usually do so based on certain papers so there will be sufficient information to answer it based on one paper, but not the other paper (usually). You should also be able to tell what paper a question in testing on mo…
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Thank you for this - It is useful and very good. An additional point is that it is not really correct to say that the investment side of the business is inadequate simply because the yield is less than the discount rate used. The discount rate chose…
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Under a risk splitting plan, a farmer’s crop production can be divided into certain subsets: *Different geographical areas or fields *Different crop types or varieties *Different stages of production etc. Each subset is insured independentl…
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* This is based on the insurer's non-ceded exposures. So yes, even if they do not cede they will still need to share in the pool's results. Yes, you should cede more. * Insurer pays for them. How it works is as follows: * The insurer that iss…
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I am looking into this and will get back to you
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Bodily injury
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A lot of times exams are about being street smart - Yes it should be invested assets, but if invested assets are not available, what's the most logical item to use based on what is given?
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No, FCF would still be -500. In your example then, the profit here is 1000, If I book a liability on my balance sheet expecting to pay out 500, and I actually paid out -500 at the end of the contract, how much is my profit?
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It would still be generally the same
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As I mentioned above, under GMA there is no need to calculate the LRC excl LC. LRC is only 0 when a contract is onerous at initial recognition
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correct -> Restricting UW criteria to reduce but not completely deny high risk homes (Otherwise it kind of defeats the purpose)
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Oops you are right -> It should say restrict eligibility FOR the highest risk homeowners
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Yes sir that is fine. They literally list selling or reinvesting assets as a possible strategy
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Its in the next paragraph: For these scenarios, the AA considers system wide interactions, ripple effects, macroeconomic effects, and possible corrective management actions. So preliminary MCT is not considering the after effects of those scenarios …
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I think it makes sense. I wouldn't say it is more accurate as it is just restating the same thing -> Whichever way is easier for you to memorise
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For the examiner reports, they are actual answers that either scored full marks, or a good solution that obtained most but not all the marks. I am not sure whether sample 1 falls in the latter case, but you are right that they are missing the incom…
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Statement 1. is just not true. Whether you are low or high income does not affect your flood risk I could see points 2-4 as being potential elaboration on the high level reasons provided in the paper
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They are meant to compensate to an extent, but not to provide full compensation (Lee vs Dawson)
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Oops typo there I mean It is not true that the LRC will be zero when you have a LC