graham
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My interpretation is that the auditor has independent authority over what to include as part of the data testing requirement. The auditor however does need to work with the AA to come to a final decision as to what to include because the AA is obvio…
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Having 2 different syllabus sources for the same material is a bit confusing. I think it may have been better for the syllabus to exclude chapters 16 and 17 from Odomirok and use the COPLFR text as the definitive source for the SAO material. Anyw…
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You are correct and I have edited the wiki and BattleCard accordingly. Thank you. I had originally written that based on personal experience. The reason is that if there was no adverse development but the AA doesn't state that fact, then the read…
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You're welcome! They should all be in the Battle Cards. If they are outdated, they are highlighted in orange to indicate that.
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Thanks @ulysses! I've incorporated your hint! * https://battleacts6us.ca/wiki6us/Odomirok.15-P#Overview_.26_Organization_of_Schedule_P
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The Battle Cards have all the old exam problems that are included in the Battle Tables. The BattleTables show you at a glance what the tested topics were and the Battle Cards give you a way to keep track of which ones you've done. (Some people also …
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If you look further down in the examiner's report, you'll see the comments below. Since they weren't expecting you to fill in the point estimate, I don't think they would add or subtract points on your score on that question regardless of what you d…
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I don't think all disclosures from Exhibit B would be acceptable if the question asked about the Relevant Comments section. Like you said, they would likely be looking something more specific.
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Lol! For others reading this post, this mnemonic applies to the list of disclosure items in the SCOPE section of the SAO and is discussed in the wiki here: * https://battleacts6us.ca/wiki6us/COPLFR.SAO#Step_2:Disclosures_in_the_Scope_Section.…
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It's a little confusing because there is something called "Exhibit B" as part of the SAO but Exhibit B is also discussed further in the Relevant Comments. Take a look at this PDF showing an example of an SAO. The last 2 pages show all the Exhibit B …
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The BK.Reins reading (Blanchard & Klann) was removed from the syllabus and replaced with the reading by Cedar on reinsurance. I just forgot to update the link the Klann article. I've changed it now. (The BK article was very similar to the Cedar …
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Thanks! I've linked to it just before BattleQuiz 1 in this section: * https://battleacts6us.ca/wiki6us/Horn2020.Flood#General_Information
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Changed, thx!
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Oh, ok. I downloaded the examiners' again when I created that Excel Practice wiki page, which was a couple of years after downloading the examiners' reports the first time. It's fixed now (as long as your browser cache is properly cleared.) Thanks!
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My gosh, that's crazy. I would have no way of knowing that (other than to download every examiners' report every cycle report and check for changes, which isn't really feasible.) At least they didn't disallow previously acceptable answers. It loo…
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You're welcome. Slay the beast this week!
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Oh, do you mean they must have bought an investment for $6500, earned interest and then sold the $6500 investment at the end of the year (for $6500)? Because the principal plus interest is all included in income? I don't think there actually are …
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Thanks, I've edited the wording as @humbertov2 suggested to make it clearer.
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Actually, I had put that comment in BattleCard 30 from this list of web-based problems: * https://battleacts6us.ca/FC.php?selectString=**&filter=both&sortOrder=natural&colorFlag=allFlag&colorStatus=allStatus&priority=A&p…
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Since your exam is next week, the simplest thing for you to do is ignore footnote 2 and make sure you can get the right answer to the old exam problems. For example, there is an exam problem (2019-Spring Q9b) that gives you this information: …
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Question 1: (part a) Since the auditor is not an actuary, the auditor wouldn't necessarily know which items are actuarially significant and need to be tested. The actuary therefore needs to specifically tell the auditor which items to test. These…
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I'm not sure about that because it may be too general. Management's input would presumably be based on the types of reasons that were given in the examiners' report. I don't think the AA could just say "management input" by itself without providing …
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I think Feldblum made a typo in the statement of the second example. I think he reversed the 65m and 45m so that he really meant to say at Dec 31, 20x4: * incurred losses = 45m (the reading said 65m) * expected future losses = 65m (the reading…
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I forgot about that exam problem. I think any reasonable grader would give you credit for your alternate solution. There isn't a single correct answer for materiality standard and the grader is looking to see if you understand the concepts and have …
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Yes, that's easier to remember . In mine, the letters didn't actually spell anything. I have inserted it in the wiki on this page: * https://battleacts6us.ca/wiki6us/Branded_Risk_Classifications Thanks @aehayes47!
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I'm not sure what you wrote is exactly right. The way I understand it is that the revenue-offset is a substitute for deferring acquisition costs. The effect of the revenue-offset may not quite equal the effect of deferring acquisition costs but i…
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I don't think there's a specific answer here. I don't think you'd be given a situation like this on the exam where information is lacking but if you were, you could split the problem into different cases and calculate the materiality standard based …
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Ok, great!
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First, do a quick review of the Study Tips section from the COPLFR.SAO wiki article: * https://battleacts6us.ca/wiki6us/COPLFR.SAO#Study_Tips Part of what I mentioned there is that the wiki article gives you a framework for understanding th…
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Once you start thinking like that, it makes memorizing a lot easier and more reliable.