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Yes, you're absolutely right. For reinsurance (which is treated very differently under IFRS 17) it's more complicated as there are different...
Update from our experts in the field: With S2, the key thing is the date the insurer is obliged to accept the contract. But with IFRS 17, it's...
Hi Banvar You're right, you definitely need to have studied SP7 to be able to do SA3 (although yes, there is the odd exam sitting when sometimes...
Hi Steve Interpreting the wording of each bit of Core Reading is quite tricky without examples, we agree. After Googling, we found some docs by...
The examiners often give more than is needed to pass the question. You only have to outline 4 ratios to score well, they've just shown that there...
1) that was selected on page 7 of the report, as a reasonable trend from previous years. 2) they mean simple average - but they've got the years...
So would I! Unfortunately there have been no exam questions so far on the topic, so your guess is as good as mine as to what they might ask....
Bear in mind that the Core Reading has changed in a number of places since that question was written.
I think that's a fair assumption. The original question could have been interpreted in different ways, so the examiners will have been lenient on...
Looks like an error to me. If they ask for two per product, then you only need to give two per product. But bear in mind it says 'outline', and...
See Darren's post above for the calculations. Reinstatements are made when part of the cover is burned through, yes.
See the first bullet point in the question!
There are many issues with this question. We have told the IFoA and they are looking into it.
All depends on what you're doing the modelling for. Generally, large losses have very different characteristics from attritional claims, and so...
In total. Not individually.
