graham
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There is a full practice exam coming in September. Until then, there are 3 prior CAS exams available in Excel format and a list of roughly 40 different problem types in Excel (with detailed step-by-step solutions) available here: * https://b…
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Yes, that's correct, and I'm assuming your 3 bullet points were summarized. If you were asked this on the exam, you should provide a little more detail for (i) and (iii). Bullet point (ii) is enough as you wrote it above. (This is from section 2.1.2…
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Here are a few facts that I hope clarify what's going on: * The most important thing to realize is you can design your study program in whatever way is most comfortable and effective for your own learning style. The BattleActs system provides y…
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Yes, you are correct, thanks! I changed the answer to (e) and thanked you in the green box under the question. If you'd like me to use a different nickname (like your initials), please let me know.
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Yup, anything is possible. If you're solid on everything else, you might pick up an extra point or two on the exam by delving into these less likely topics.
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Right, use the 2007 row to the 2015 row. So the numerator would be the sum of these values in Column (10): * 12,834,921 + 15,025,636 + ... + 15,144,874 and the denominator would be the sum of this diagonal: * 13,673,474 + 15,353,111 + …
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I'm really curious if a calculation on certified insurers will appear on the exam but now that exams aren't published, I won't find out. Based on past exams, the most likely question on certified reinsurers (if there is one at all) is a short answer…
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That's correct, and just to emphasize, the 300% LR cap for R5 is applied to individual years, whereas the 400% LDF cap is applied to the aggregate LDF. (You can think of the company LR as being a straight average of 10 individual years, whereas t…
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Yup, the growth charge is for growth in excess of 10%. (So if growth is less than 10%, the charge is 0.)
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Yup, correct!
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That was a pretty good example. I made a few enhancements to my own example and have linked to your post from the wiki.
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Yes, that should now always be included even if it isn't mentioned. Note that it might not always be 3% but if it's something else, you would be need to be given that information. Side note: * For the R0 risk charge, a subsidiary’s RBC charg…
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That would be kind of like credit for excess shrinkage. I don't believe there is any such credit. If premium was shrinking, the R5 charge would be reduced but there wouldn't be any extra reduction in cases where the premium was shrinking rapidly.
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This is definitely confusing. First note that the following terms have different meanings: * authorized/licensed insurer * eligible surplus lines insurer All insurers must be authorized/licensed in their domiciliary state, meaning they cou…
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Hi @jstark3572, The comments from @PaulKory are accurate so I hope my comments below don't add to any confusion, but here's another way of thinking about the solution: The table given in the solution is doing 2 separate calculations at the same t…
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That would be my answer too. Even though IRIS 11 uses surplus (for the prior year), there is no specific requirement to recalculate IRIS 11. (I suppose you could do a deep dive and investigate NAIC's reasoning for not requiring IRIS 11 to be reca…
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The explanation is as follows: * ASOP 41 contradicts COPLFR (and also ASOP 36) but for questions related to the SAO, the definitive source is COPLFR. * This is because the topic of COPLFR is the "SAO" specifically whereas ASOP 41 covers "Actua…
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That's strange. It seems to only do that if you press the Cheat button first. I just tweaked something in the code and it seems to work for me now. Is it ok for you?
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Yes, it's probably better to say that "P" stands for "recoverables on Paid losses" (rather than Paid recoverables.) I made a note about that in the wiki and linked to this discussion in case anyone else has a similar query.
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Can you take a screen shot of it so I can see what's going on? Note that for the action, you only need to enter the first letter even though the answer spells it out in full. Also, don't use commas for the numerical entries.
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To your first post: Yes, that's the slow-pay formula. It might help to review Alice's solution to Schedule F - 2017.Spring Q14 which you can find in this section of the wiki: * https://battleacts6us.ca/wiki6us/Odomirok.14-F#Calculation:_Provisi…
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Thx, I've clarified this in the BattleTable footnote and in the wiki article, and marked the problem as (partially) outdated in the BattleCards.
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The "dividends received" part of this problem is outdated so you don't have to know how to do it. It was completely removed in the updated version of Odomirok. (2021.Spring is the first sitting with the updated version.) Note that this problem, as w…
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Line of business: * This is the correct classification in the context of the Cook reading but Cook specifically discusses only personal lines. Assigned risk plans can also, for example, apply to other lines of business like worker's comp. M…
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Yes, that's correct. I have clarified the wiki. I also did some more research on BEAT and have edited the original exposition and added a pop quiz. I think something on BEAT would make a pretty good exam question. I will tweet about this to draw peo…
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Yes, that's correct. (The insurer is in possession of the premium payment on Apr 1, but it then must be earned month-by-month over the policy term.)
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Yes, more or less. The excess growth factor is based on premium growth but of course premium growth likely means growth in losses and reserves also. Since growth is generally from new business rather than renewals (or rate increases), new business t…
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That's correct. I have clarified this on the formula sheet. Thx!
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I believe the examiner's report is correct here. Take a look at my explanation for this problem in the wiki. Here's the direct link: * https://battleacts6us.ca/wiki6us/Odomirok.26-Taxes#A_Few_Old_Exam_Problems Then let me know if you still …
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Should be ok now. Thx.