graham
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I think the reason Joint & Several Liability promotes pre-trial settlement is that each defendant could negotiate what their share will be. But if the case goes to trial, then there is more uncertainty since any one defendant could end up paying…
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Well, it's always a little bit of a guess because the CCIR instructions don't always provide all the details. I believe however that the liabilities in columns (22) & (26) include IBNR as well as case reserves. The reason for subtracting the …
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Yup. I will either remove that or mark that as outdated. When one reading is removed, I don't always catch all the places in other readings where the deleted reading is referenced. Thx!
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Yes, and I'm also working on updating the practice exam which will also provide extra practice on that and other calculation problems.
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I believe you would get credit WITHOUT writing out the actual formula as long as your calculation is correct. It's a little safer to write out the formula however because if your calculation is wrong you might still get partial credit. I know it tak…
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Yes, but "Common Shares" would already include category B, and C capital. Category A, B, and C is mixed together on page 20.11. That page doesn't provide a breakdown for different categories of common shares.
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Someone emailed me recently about this exact question. I missed the line that said line 250 for "provision for credit losses" should be added because it looks to me like that item should reduce investment return. The statement blanks provided don…
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And we will be adding content for that Excel in the near future. @lawtsm @Staff-T1
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@Staff-T1 @lawtsm The characteristics of a good risk margin have been moved to mini BattleQuiz 1 in this wiki article: * https://battleactsmain.ca/wiki6c/CIA.IFRS17-2
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@Staff-T1. I have copied the draft version to the live site.
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That's a good question @jjj820. I added that calculation to the Excel problems at the end of this section: * https://battleactsmain.ca/wiki6c/CIA.IFRS17-LRC#Section_5.2:_Subsequent_Measurement
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Apologies, we're working on this. Not sure when it will it will be ready. We are planning to create an exam-type question based on the Excel file (if appropriate.)
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Ah, ok. Thx @bulubala. I see the CAS slipped in a change to the syllabus which you wouldn't know about unless you keep checking the syllabus on the CAS website. Here is the original syllabus entry for the MCT reading: And here is the curre…
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@Staff-T1: Is this where you mean? * https://battleactsmain.ca/wiki6c/CIA.IFRS17-PAA#Section_1:_Introduction
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I actually meant to include a comment about that in the wiki, but I will link to this post from the wiki instead. I left it out in the interests of time because the calculation has no material effect on the capital required. Also, most of the inform…
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Corrected, thx!
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Hello @tshute I've added a list of examples and web-based problems for MCT in the "Study Tips" section of that wiki article: * https://battleactsmain.ca/wiki6c/OSFI.MCT-IFRS#Study_Tips Hope that helps.
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@bulubala : It looks like OSFI's website and the CAS Exam 6C syllabus do indeed have different versions of the MCT reading. At least the formula for the deduction from capital available is different. However they both have the same date of publicati…
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Which version of that Excel file are you using? The current version is v8. (The formula should indeed refer to column Q, not column S.) (By the way, your screenshot looks like the capital required for unregistered reinsurance, not the deduction f…
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Correct, thx!
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If this is the table you're referring to, I think it's ok because the cash flows are already discounted:
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Comment 1: * Yes, it should be unexpired coverage not LRC. I forgot to change the BattleCard when I changed the wiki. Thx! Comment 2: * Yes, I did not notice that the source text had indeed removed the comment about "high levels of rei…
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Actually, I didn't expect anyone to give an answer! You're right that if the interest rate shock were -1.25% then the formulas as given would show the assets decreasing more than the liabilities and the result would be the same required margin of 1.…
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Maybe I'm missing something, but I don't see what's wrong, unless it's the part I put in parentheses in the BattleCard answer. (I'm not sure now why I added that.) OPCF 44r basically applies to both underinsured and uninsured motorists. Here is what…
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That seemed strange to me too, but that's definitely the formula given in the source. It may be because NRE is: * "Net Reinsurance Expenses from Reinsurance Contracts Held" versus * "Net Reinsurance Expenses for Reinsurance Contracts H…
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Yes, I've corrected it thanks. And thank you to everyone for their input on getting this section of the MCT reading sorted out.
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And I verified with the exam committee that both readings are still on the syllabus.
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About the formula for column (79): * Those were random numbers and it was an oversight that column (79) didn't sum to (62), (72), (74). The calculations should still work the same way, but I will regenerate the examples to use the correct formu…
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Fixed. Thx!
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Technically, that information was specifically removed from the "KPMG Regulatory Oversight" reading, available only in the printed study kit. But other material referenced it. I asked the 6C exam committee about that a year or two ago and they told …