graham
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Hmm...you're right. I copied the answer from the examiner's report into the BattleCard, but Feldblum's paper explains it differently. I have changed the BattleCard and the relevant section in the wiki to agree with the Feldblum.
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Hello danielle4nan The calculation of net income can be confusing because exam questions provide the necessary information in different ways. For example: * 2015.Spring Q24: You can see my solution to this at the bottom of the CCIR.ARinstr w…
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Your reasoning is sound. This is the type of question where you have to answer based on common sense. If you looked at FSCO's detailed regulations, it probably specifies exactly what data you have to submit for each type of change, but there's no…
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Oh, ok. Well, I can understand getting nervous before the exam. The feedback I got on the 2018.Spring exam is that it was fair, not too hard, not too easy. You're right that there were fewer calculation problems versus normal, and that surprised me,…
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I think you meant to reference the 2012 problem (rather than 2015). Here's the link: * https://battleactsmain.ca/pdf/Exam_(2012_2-Fall)/(2012_2-Fall)_(15).pdf That exam problem is about EI (Employment Insurance) rather than health insurance…
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You are correct. Strictly speaking you cannot solve this problem because the numerators are different, unless you make the assumption that both terms for investment income are the same. And there is no reason to do this. The MSA ratio paper doesn…
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Thank you for highlighting this. You're right that if they just say "net", you should assume that PfAD's are included, which means you have to subtract PfADs. Another example of this is: * https://www.battleactsmain.ca/pdf/Exam_(2015_2-Fall)/(2…
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YES!!!!! I will add a comment to the wiki about the error. Thx! It's funny how the first sample answer says risk transfer is self-evident and the second sample answer says it may not be. Um...I guess it isn't self-evident after all.
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Thank you very much for this feedback. It's great to hear you're finding the course helpful! One other person emailed me that they too thought the practice exam was too easy. I thought about creating 2 practice exams, 1 that's easier and 1 that's…
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I just reread that section from the FSCO.PPA paper (bottom of page 3). It seems to say that it is fair for company A to have a higher rate versus company B for the same risk, but that it is unfair for company A to actually charge this higher rate. C…
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Yes, that should be +3. It is taken directly from column (11) of the given information.
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There was a paper specifically on IFRS that has been removed from the syllabus. That tells me it isn't considered an important topic any longer. (It was always a low-ranked paper anyway.) You're right that CIA.Disclosure talks about IFRS so I suppos…
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Good observation. It isn't immediately obvious why they did that, but here's an experiment for you. Try entering 0 instead of 11,155 for the cash withdrawal in 2021. If you do that, I think you'll see the answer! (You can also try entering different…
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Yes, but your thinking it backwards. If Company A has lower tolerance, that means it is more likely to have its BCAR score lowered. The question asks for the company that is allowed to have a lower stressed score and still retain its rating. That wo…
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chrisboersma is correct that this question is outdated. I have it marked outdated in the BattleCards but I have now added orange highlighting so people can see better that it is actually outdated. You can ignore this question completely. Focus on th…
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If it were me on the exam, I might say something like: Strictly speaking 10% is not acceptable, but if I were the regulator, I would accept it because it isn't materially different from 9.9999.....%
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You are reading the TRIA material very carefully! There was a exam question, 2014.Spring Q11b, where they asked you to calculate the reimbursement. That was prior to the changes you described. The correct answer would be to use 20% and 200m. Than…
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Thx chrisboersma. Good answer. To danielle4nan: I see your confusion. When I first did this problem (a long time ago) I wasn't sure what was happening either. But yes, the reinsurer is giving the claims back to the insurer. The reinsurer also has…
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LOL!!!!!
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I think both PsEm6C and jc2018 make valid points and that there is no single correct answer to this problem. A point I would make in response to PsEm6C is that your reasoning is very plausible. But if there were a significant change to the reinsu…
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I wrote to the exam committee about this back in January as the situation you described was the same for the previous sitting as well. I expected them to respond that they had intended to update both readings and would correct the error, but instead…
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This is buried in the reading OSFI Memorandum on p28. (In the wiki, this reading is labeled as OSFI.MemoAA) I've now made a note of this in the wiki in both the CIA.MfAD reading and the OSFI.MemoAA reading.
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If I understand what you're saying, the rules state that in a full filing territorial changes must be in the open interval (-10%, 10%), so strictly speaking, a change of exactly 10% would be outside this open interval. Let me know if that wasn't wha…
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Not quite. The original calculation is: * 300 / (1+discount rate)^(0.2929) The new calculation would be * 300 / (1+discount rate)^(1/3) The reason the exponent is (1/3) not (0.5-1/3) is that you have to adjust the APD, or Average P…
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I once tried to make sense of the learning objectives like you're trying to do, but I soon realized they are totally useless in helping people study. You will go crazy trying to figure it out! The best source is old exams and then educated guesses a…
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P.S. Be sure to take a quick look at BattleHacks #1,2,3,4 also, just to make sure everything is covered. It should be, but now I'm wondering if anything else slipped through the cracks.
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Ok, I see. There were some parameters that were set incorrectly. I've added a BattleQuiz #4 to the Odo.FinReg wiki article. The Level 2 quiz should now show 2 extra problems that are worth a lot of BRQ points (commutation problems which you may have…
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Hello jc2018, let me add a few comments to the above response. I read your question and the text, and I didn't see that there was any contradiction between p19 and p21. Here's how I made sense of it in my own head. You can let me know if this makes …
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Sorry for the inconvenience. Actually, I cannot change that since we're currently using shared hosting and the time-out is set by the host. I believe the time-out is 30 minutes but if you click on anything, the timer should start over. Again, sorry …
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If you're looking at your score in Level 3, you have to use Optional Setting C and select BattleCards of higher and lower probability. There are only 14 BattleCards in the Level 2 quiz, then 4 more of high(ish) probability, then a bunch more of lowe…