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Hi Em, Thanks for the reply. I just wanted to confirm that the "updating" of the actual inflation in the BEL wouldn't count as an assumption...

That should be experience variance*

Hi (again) lol, Thinking it through, is it because the actual payment is now higher? So 100 at 5% exp is 105 but actual inflation was 7% so new...

Hi Lindsay, Regarding the expense variance, why is the BEL impacted by the actual benefit and expense inflation? I understand that actual...

The current asset share is a separate thing from the guarantees that have been declared on a policy. The forum has lots of posts about asset...

Thanks so much Lindsay, I understand the distinction now.

Got it now Lindsay, thanks.

Hi Em, Can you help with this please? Thanks so much.

Thanks for this Em.

Hi (again)! For the last 2 parts of the question - keeping the estate the same percentage of WP asset shares and keeping it the same absolute...

Hi Em, Thanks for clarifying. I'm still a bit stuck on the part that speaks about the basis being reviewed more frequently than the updating of...

Thanks so much Em!

Good Day Em, Thanks so much for replying. This does help quite a bit though I think I'm still unclear about the background details. Still, I think...

I know this thread has seen quite a lot of action but I'd love it if a tutor could help clarify some of the issues I'm having. Specifically...

Thanks much Em!

While reading this again, I realised that maybe one of my issues is how I view the liability and the assets that back the liability. So in your...

So I've done some more reading and it seems you are correct in the sense that you can use a risky rate but using a risk free rate would be easier...

Hiya, So my statement about the 100 bond/100 stock was (based on my understanding) supposed to point to the fact that choosing a riskier asset to...

Also for part 3, for the UWP, the cost for the guarantee goes up with bonuses because the fund will get larger with a bonus declaration so any...

Oops, I wanted to edit to say I assume if it were risk-neutral, the ESG would be calibrated such that all the assets earn the risk free rate and...

Yes, CSM is recalculated at the end of each period to take into account NB CSM as well as changes that will impact the CSM based on movements in...

Hi Mark, Actually I'm re-reading the question again and my question was the wrong way around. The examiner's report says that basis 1...

Hi Mark, I think I must be misunderstanding something from your response. For basis 1, if everyone has to report within a month of being sick,...

Thanks Mark.. I guess if it comes up in the exam, I'll just state the assumptions.

I actually haven't tried Mock Exams but I will this session. Will PM. Thx!

I think when applying for fellowship you may have to do something specific....

It may become an issue but I've heard that the skills you learn can translate across systems. If you're really very worried, I'd say change jobs...

Most of the training material available is limited to the ggy.com site so once you get your credentials, you should have access to basic training...

Based on my recollection, there is generally no maturity benefit for CI policies. For an accelerated CI, you get payment on death or diagnosis of...

Tried that but still no dice. Thanks tho.

Got an email saying it was there but I don't see it. :/

Thanks Lindsay!

I believe the Exam Regulations address this.

If we can't get a reply, can a Tutor give an example of how not to paraphrase please?

Any word from the Institute re the new rules?

The IFOA has updated the plagiarism conditions further including examples. I have to ask, how do I know when I'm paraphrasing?? Are they serious...

Hi Anna, I didn't think of that at all. So basically the premium basis changes annually even though a review takes place in June. I think I...

Hi Anna, Thanks for replying but why wouldn't there be a review on Jan 1 2021? Happy Holidays.

Ohh I see. The death benefit for the TA also counts in the overall experience. I thought we were strictly speaking about the CI experience. Thanks...

Hi Anna, Yes, I agree but I was curious about the reduction of risk when CI is used a rider Vs standalone if a CI diagnosis would trigger a claim...

Hi Anna, Just wanted to check that the above is correct. Thank you.

Hi Anna, I'm sorry I'm still a little confused. I thought based on the reading that we are comparing a CI stand alone to a term + CI rider. So if...

I was the thinking of recording myself but then that only makes sense if I never plan to look... And I looked a little

I got it also. I'm happy they decided to apologize but the fact that they wrote it in the first place is disappointing. You would think that they...

Thanks for the suggestion. It was a practice question about a group CI plan offered to the parents of children at a prep school. The premium is...

I'm so sorry this happened to you. This thread has several posts about what people did in April and should be helpful. I hope all goes well.

Thanks Anna.

Nearly fell off the treadmill... :S

Hi Anna, I'm unfamiliar with these types of products but I thought that the policyholder could choose at outset which disability category they...

Thanks Mark!

They are not really exams. More like exercises that test you on what you learnt in the previous module. I would say objective, there are mostly...

That clears it up! Thank you Mark for replying so quickly. I can enjoy my Friday now lol.

Hi Mark, Thanks again but I guess where I'm getting confused is when you said that using cautious assumptions overvalues the liabilities. In my...

6 months is a good estimate if you take it seriously and go through the modules in a timely fashion. Since there's no time limit, it's easy to put...

If you do have evidence, it may be worth submitting to avoid getting any penalties ..

Hi Mark, I'd just like to clarify this bit of core reading. It says that the reserves in the EV calculation are always calculated on a...

Hi Mark, Just looking at your answer. The core reading says that the prospective value values future benefits at the higher rate which would...

Thanks Admin. So perhaps the guidance needs to be clearer. You are allowed to reference but not copy word for word. What does this mean? If I'm...

Hi Admin, Can you expand on your point that April wasn't really open book and what you think is the difference between the April regs and Sept...

I have to say this concerns me. The rules do state that you should not copy from your notes. They should only be used for reference. However, is...

Hi Mark, I'd like an answer to this as well please since i may be able to find advgs/disadvgs relating to the guarantee but I'm not sure about...

Hi Mark, I've been confused about asset shares for with profits policies but I do believe you have clarified. So just to reiterate, future bonus...

Thanks Mark, I understand the distinction now.

Thanks Lindsay!

Hello Hi Lindsay/Mark, I just wanted to clarify something with regards to the PVFP and the example in Chapt 30, Pg 33. It says that the PVFP...

Hi Mark, Thanks for the detailed reply. Please forgive my inability to properly apply the uniform distribution to expenses being incurred. Just...

Hi Mark, Thanks for the reply. However I'm a little confused based on my experience. If you are pricing a 5 year term and doing a projection for...

Oh, Thanks Mark. The original poster had a 1,000 as the required year 3 reserve. It must be a typo. Regards.

Hi Mark, I know this is an old post but why is £125 the amount the reinsurer and insurer have every year? I thought the reinsurer would...

Hi Mark, With regards to your above reply, I was actually expecting the premium to be calculated using the 200% since the option holders are now...

Great! Thanks for that Mark.

Hi Mark, Thanks again for the explanations. I think I was making reserve releases synonymous with profit increases. So just to be MORE clear, if...

Hi Mark, The numerical analysis has been very helpful but I think I still am missing something. For example, if our actual experience turns out...

Good Day Lindsay, I just wanted to clarify the whole idea of profit emergence. I think that profits can emerge in two ways: explicit profit...

Sorry to everyone that didn't make it. I've been there! I found a lot of the advice in this thread very helpful for this last attempt. I would...

Finally made it! Thanks to everyone for the support! Also Helen was amazing in the online tutorial. I definitely recommend it.