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In this case, by law, WC is primary and Medicare is secondary, so the primary pays. However, some insurers have been known to get around this by not informing Medicare that the injury was sustained on the job. The wiki has an explanation to this eff…
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Yes it does. We made an edit in the wiki to further clarify this point. Thank you. https://battleacts6us.ca/wiki6us/Porter.2-Devlpt#1890:Sherman_Antitrust_Act.28and_others.29
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You can find this in BattleCards - Prior Exams under Custom Battles on the main page (www.battleacts6us.ca/BB_byExam.php). This particular problem is marked as outdated. We are not sure which source it used to be from.
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The wiki note refers to the fact that IEE Parts II and III show net and direct expenses, respectively, and that U&IE Part 3 (Expenses) shows net expenses in the bottom-line totals. At the same time, it is also true that the net of the first two …
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Your interpretation is correct. But an insurance company can do the same, via a reinsurance line. "Direct" is the term used for insurance transactions. These are the premiums you collect from policyholders, in return for the promise of claim payment…
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The first is funds due to the reinsurer that are currently held by the reinsured. The second is funds held by the reinsured under the terms of the reinsurance treaty. An entity can assume the roles of reinsurer and reinsured simultaneously, on diffe…
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We corrected Battlecard 19 to read S1 and S2, and sent a shout-out to you - thank you!
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We adjusted the wiki solution to the problem and sent a shout out to you - thank you! No liability for letter of credit, just placed in the footnotes.
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The CAS Financial Reporting reading (which includes the RBC chapter) has only two exclusions in the 2022 Spring syllabus: Part VII and Appendix II (the Canadian material). Since there is no expressed exclusion of RBC factors, it is fair to assume th…
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Reinsurance Assumed is treated differently in different parts of the Annual Statement. In the Income Statement, it is already included in the Net figures displayed. In Schedule P, where it is separated into its own columns, it is meant to be added t…
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Regulatory ease may be a reason, historical niche of the prominent players may be another. I don't have a comprehensive explanation for this. However, I ascertained it is not covered in the syllabus, so it should not be an issue in terms of the exam.
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All non-US-govnt, nonaffiliated bonds fall in one of the riskiness classes 1 through 6, and they are all subject to BSF. See the wiki note: https://www.battleacts6us.ca/wiki6us/Odomirok.6-7-BS#Bonds So, your latest equation is correct.
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Yes, we made the adjustment to the 2017 problem. Thanks.
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A cautionary note. The Exam provides an app similar to Excel, but it may not include all the Excel functionalities. So, the SUMSQ() function may not be available in the Exam.
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You're right that the content of R1 is treated completely differently in the 2020 version. We now marked the quiz question as outdated. Thank you for bringing this to our attention.
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If you're assuming a case where assets subject to basic charge consist only of Class 1-6 bonds, then your equation is correct. But ordinarily, there are 5 categories of assets subject to basic charge, out of which only Class 1-6 bonds are subject to…
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Very good, thank you for sharing!
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I used the edition at this link: https://www.casact.org/sites/default/files/database/studynotes_odomirok-etal_financial-reportingv4.pdf
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In Odomirok 19, page 239, ' other non-insurance subsidiaries' is listed as one of the elements of R1. Further down, the industry aggregation shows it to be one of the 4 biggest components of R1.
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Here are balance sheet and income statement examples, from Allstate. Is this what you're looking for?