graham
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Excellent! * https://battleacts6us.ca/wiki6us/NAIC.Solvency#paragraph_1-15:_Judging_Regulatory_Effectiveness
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If a homeowners insurance company provides hurricane insurance where the total value of the properties is say 10 billion, then a multiple of retained risk might be something like: * 5% x 10 billion = 0.5 billion or 500 million Saying "multi…
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Yes, if they had given you that information for long duration contracts, it should be included in Exhibit A. Regarding the Unearned Premiums of $475 provided in the top section, those are not intended to be listed in Exhibit A under "Other Premiu…
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It appears as if the disclosure items required in the SAO that are listed for this question are all from Exhibit B. There are other disclosures that may be required however such as reliance on the work of another that are not part of Exhibit B.
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Well, the materiality standard given the statement of the problem refers to net reserves, so I don't think you can assume the 50% value would apply to direct and assumed reserves. Issues related to reinsurance are dealt with separately within the Re…
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The Porter text is a little confusing on this topic. Here's the sequence of events as described in Porter: * SEUA decision in 1944 * Reaction to the SEUA decision: NAIC makes several recommendations including pressuring Congress to enact legis…
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I see what you mean but the reason it's 37th is that there are very few exam questions specifically from chapters 6-7 although you do need some background on the balance sheet for earlier articles. Within this section from Odomirok.8-9-IS (Income St…
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That's pretty good! Studying for Exam 6 feels like you're in jail. Here's a link to the section this came from: * https://battleacts6us.ca/wiki6us/Odomirok.16-17-SAO#The_Boring_Details_.28Yawn.29 Thanks @dovidb!
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(Note: This is problem 24, not 23.) For that section of the Relevant Comments regarding IRIS ratios 11, 12, 13: * You MUST disclose and discuss the IRIS ratios that have exceptional values. * You MAY disclose the IRIS ratios that are within th…
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SOLUTION 2: Apply the Bright Line Indicator Test * We're given CAL / NLR = 35% therefore CAL = 0.35 x NLR We're also given RBC = 250% so: * RBC = TAC / ACL = 2.5 Rearranging this gives: * TAC = 2.5 x ACL = 2.5 x (CAL/2) = 1.2…
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Corrected, thx!
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Here is the formula sheet: https://battleacts6us.ca/pdf/Summary_(6US)_05_Sched_P.pdf
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Good idea. Thx! It's done.
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No problem.
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I had done research on FAIR plans beyond what was covered in the CAS syllabus reading and that's where I got those 3 "covered" risks. There may be a nuance to the second bullet point "home in disrepair" where certain types of disrepair are covered b…
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That question was a little tricky. Sometimes an exam question will specifically ask how retroactive insurance is handled in the financial statements, in which case you just have to write down a memorized answer. I guess here they wanted to add a wri…
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I corrected the Odomirok.14-F BattleCard.
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Ugh. Safari uses a slightly different DOM (Document Object Model) and that's why any time there's a button inside a table, it doesn't work properly. It's fixable but it's messy. One day... Thanks for letting me know.
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In your first step where you do the calculation shown below, you are implicitly assuming the reinsurer has the same paid and reserve amounts. But the primary and reinsurer only have the same paid amounts. The reserve amounts are different. * 25…
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I chose PIED. Thx! * https://battleacts6us.ca/wiki6us/Vaughan.Crisis#Effectiveness_of_Regulation
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I believe interest rate risk is embedded in the risk factors: Also,
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If you find a specific exam question that you think is still more or less valid, possibly with a few changes, you can post about it the forum and we'll address it. I have not specifically rewritten the solutions from the examiner's reports however. …
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The Excel doesn't show that but you can see which questions are outdated for each exam by using this feature: * https://battleacts6us.ca/BB_byExam.php Select the exam you want and the outdated questions are highlighted in orange. I can't pr…
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I believe that would be given credit. This exam question is discussed in the wiki here: * https://battleacts6us.ca/wiki6us/COPLFR.SAO#Step_2:Disclosures_in_the_Scope_Section.28Scope.29
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I think you meant Q23 from 2015-Spring. Yes, they consider sections and exhibits to be different things. Here's the link to the wiki where you can find that: * https://battleacts6us.ca/wiki6us/Odomirok.16-17-SAO#Intro_2
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Done. Thx @mec06e! For others reading this post, here's a direct link to the relevant section in the wiki: * https://battleacts6us.ca/wiki6us/Odomirok.8-9-IS#Surplus_.282017.Fall_.2310.29
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You raise a good point. I double-checked the source text under the section "Ceded Reinsurance - Prospective and Retroactive" in chapter 22 of Odomirok and this is what it says: The highlighted sentence definitely makes it seem like there is a…
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Sorry, I don't have a comprehensive list of acronyms that I used. Some of them are commonly known but some of them I invented just to make the formulas easier to grasp and remember. I think everyone would know what COR means but I have never seen…
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Good idea! Added! For others reading this, pop quiz D is in this section: * https://battleacts6us.ca/wiki6us/Odomirok.19-RBC#Asset_Concentration_Charge_.28ACC.29
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Actually, I discussed that exact question in this short wiki article: * https://battleacts6us.ca/wiki6us/ASOP.36