graham
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That's a good question. I added a short explanation of that to Odomirok chapter 26 on taxes here: * https://battleacts6us.ca/wiki6us/Odomirok.26-Taxes#Discounting_Loss_Reserves_for_Taxes I've also added some explanation, my own solution, an…
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I'm not sure if this will answer your question, but here's how I think about it: * Tax accounting is separate from SAP and GAAP. * Tax accounting is a set of rules from the IRS. It looks at your assets, liabilities, and income to determine you…
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This is a very tricky question and I wish they had explained it better in the examiner's report. The trick is this: * when you calculate the 1.7m in part (a), you're using discounted reserves (this is the economic benefit of the commutation …
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Yes, you're right on both counts. I've corrected the wiki. But I also noticed I did something slightly different to Odomirok. * Odomirok defines the Bond-Size-Factor as the average bond size minus 1 * I defined Bond-Size-Factor simply as the a…
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One thing I can say is that if you explain your reasoning, they're more likely to accept your answer even if it's a little different from the official answer. If you specifically say: * "standard" vs "non-standard" (assignment to tier) then…
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Oops. Coding typo. I've corrected it. Thanks!
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Sorry, now I'm the one who got distracted. I went back and saw that you were asking about "segmentation" being the umbrella for "assignment to tier". Yes, I suppose it is. Segmentation is a blanket term that probably subsumes both the "rating variab…
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Lol. You interpretation makes sense. I laughed because if you try to apply strict logic to disciplines like accounting you'll sometimes be frustrated. Of course, that's my mathematician's bias. (Side note: The 4 Principles of Ratemaking have the sam…
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Yes, that's a valid concern. If they ask for 2 reasons, you could put the U/W criterion by itself, then put assignment to tier, with rating variable in parentheses. That way, you cover everything but still only use 2 bullet points. If they ask for 3…
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I see now that I listed a different answer in the BattleCard versus the wiki, so I need to fix that. In the wiki, I listed the uses as; * U/W criterion * rating variable * assignment to tier First, you might decide whether or not to accep…
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Sorry, I just made those numbers up for the purposes of the example. I didn't provide enough information to actually do the calculations in that particular case. I edited the wiki article to make that clearer.
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Here (meaning for the purposes of the exam) we can restrict our attention to what can be found in the IEE versus other publicly available sources. For the 2 uses you mentioned, the person would need a few years of IEEs. The other uses mentioned in t…
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I would say yes, basically, but I'd also add Section 5.6 - RELEVANT COMMENTS as a place to mention the issue. There is a lot of overlap between different sections of the SAO and for many things there isn't tight logic on what goes where. A good e…
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Ok, I found a spot where an intermediate calculation was being rounded. I switched it so that all the rounding is done at the very end of the calculation. Let me know if you still see an issue. Thanks.
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Thanks, I'll look into that this week. That happened in a few other places also and I'm slowly rooting them out.
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That is a good observation and I have added a footnote to the COPLR BattleTable about it. Alice the Actuary whispered in my ear that errors in the examiner's reports happen more often than you might think. And the errors are almost never correcte…
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Yes, you're correct. I pulled the slow-pay formula from the examiner's report for 2017.Spring Q14, but the examiner's report had an error. (The final answer was correct because the missing term: Amts recvd in last 90 days = 0 anyway.) Thanks for …
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Well, good question. There was an old question on Exam 6-Canada on the 10-10 method and the given solution was the one I discussed in the wiki article and in the practice template. In that version, the premium is subtracted from the loss before comp…
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It isn't very clear in the text, but for certification, the aggregate insurer losses must be > 5 million, but for the federal government to starting paying, the aggregate insurer losses must be > 200 million. (Actually, in this 2014 problem…
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That is an excellent question. These kinds of time management and exam strategy considerations can shift your score by up to 4 or 5 points, which obviously is very significant. First, to answer your specific questions: * you do not have to w…
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Yes, many apologies. An issue arose when we migrated our site to an upgraded server for better performance. It shouldn't have happened but by the time we discovered the problem, several days worth of data was already lost. Unfortunately there isn't …
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Lol. I will add that to the wiki.