graham
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Pr(purchase Porter text) = 0.00000000000000000%
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Did you mean to reference a different question? The question from 2016-Spring Q1 is about credit scoring. I didn't see anything about disclosures there.
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Sorry for the confusion. I think most people don't even have the actual Porter text. My copy was $180. And I heard there's a long wait if you want to borrow it from the CAS library.
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My reading of the text is that all types of extended reporting endorsements need to be reported in item 12 of Exhibit B. There doesn't seem to be any other place for these to go. About a PDR - according to SSAP-53: * When the anticipated los…
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You're welcome!
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Yes, that's correct. I included that section for informational purposes because in the past I had received candidate questions about the commissioner and state DOI. I inserted a note to clarify this: * https://battleacts6us.ca/wiki6us/Porter.5-…
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This change in the RBC formula to now include catastrophe risk and operational risk certainly does cause confusion when looking at examiner's reports for past exam problems where those were not part of the RBC formula. Rather than trying to alert th…
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We're looking into this. We'll get back to you today. Apologies for the delay.
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Technically, this is the statement in COPLFR: It just says the estimate must be within a reasonable range for a reasonable opinion. It doesn't say that the actuary has to actually report a range. In practice however, I believe the actuary wou…
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Yes, all of that is correct. I've inserted a note in the appropriate spot in the wiki that refers the reader to the current tax information in Odomirok. And you're correct that some of the past exam problems don't seem to come from Klann. There w…
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That was a strange question because you had to make up a range and then draw a conclusion based on your made-up range. The question was basically asking you to think through whether there's any way a carried reserve of $500 million could be reasonab…
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If long duration contracts are included in the scope and the actuary opined on them in the SOA then they must be included in the AOS also. These long-duration contracts would be considered premium liabilities. I cannot remember why I listed that …
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An insurance commissioner is a type of regulator but also has other functions: * The insurance commissioner is a state-level position in all 50 states. The duties of the position vary from state to state, but their general role is as a consumer…
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See also footnotes 4a and 4b in the BattleTable for the NAIC.IRIS wiki article: * https://battleacts6us.ca/wiki6us/NAIC.IRIS#BattleTable
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I appreciate it. Thx!
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When I originally wrote the content for Porter, there was some reason I organized the chapters the way I did but I can't specifically remember what that reason was. There is some overlap between chapter 2 and chapter 12 but the wiki article on Porte…
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Fixed. Thanks!
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Interesting! I linked to your post from the wiki. Thanks! * https://battleacts6us.ca/wiki6us/Vaughan.Crisis#Intro
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Saul was a good man gone bad. Where is he working now - Burger King? Poor guy. I've linked to your memory trick from this section in the wiki: * https://battleacts6us.ca/wiki6us/COPLFR.SAO#Step_4:Type_of_Opinion.28Opinion.29
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This was a bit of an unfair question because, as you said, they did not provide any information on possible causes of adverse development within the question. The excerpt from COPLFR below explicitly states that any adverse development must be ex…
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I just reread that example and I can see that it was a bit confusing. I modified the given information to say this: * losses in the U.S. (or air carriers or vessels) ≥ $5 million * aggregate insurance industry losses = $80 billion * ABC Insur…
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It was a new reading for Spring 2021 which was after the CAS stopped publishing exams. That's the reason there weren't any old exam problems. It was a judgment call to put it in that spot in the ranking table, apart from most of the other SSAPs. …
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We now have Spring and Fall from 2016.
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Note: I wrote this a few weeks ago but never clicked Post. Apologies. That's certainly something I can put on my list to do. I stopped at 2017 because I wasn't sure how far back people would want to go, so it helps to have feedback on that. I'…
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Unpaid Losses * = (14,000 - 2,000) + (5,000 - 500) * = 16,500 Unpaid Loss Adjustment Expense * = (3,000 - 500) + (1,000 - 20) + (200 - 0) * = 2,500 + 980 + 200 * = 3,680 Unpaid Losses, Direct & Assumed * = 14,000 + 5,00…
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Note that the first "R" in the DREARRIR hint mentions Exhibit B. Also, here is an excerpt from COPLFR showing illustrative language for the SCOPE section that mentions the disclosures in Exhibit B.
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Apparently not!
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You know something - I'm glad you asked about this. It appears that in the most recent version of the IRIS ratios source text, they restated the ranges for IRIS ratios 1-4 as usual instead of unusual. They must have realized it was inconsistent with…
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I agree that's confusing but that's the way they do it in the IRIS ratios source text. I've actually looked at this before to see if I could figure out why it's like that but I couldn't come up with anything.
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Sorry, I forgot to update the link. I've fixed it and I've also sent you a message. Check you mailbox under your username near the top left. Thanks for pointing this out.