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October 2013, Q5 (iii)

D

dazed and confused

Member
Does anyone know whether the methods of calculating the various reserves are still relevant?
The examiners' comments for that question seem to suggest that this was something candidates were expected to know.
I haven't been able to find anything that would help me answer this question in the 2017 version of core reading and am wondering if it has been removed since 2013 or if this is more of a "see if you can work it out" sort of question. Or maybe I'm just not looking in the right place?

Thanks!
 
dazed and confused said:
Does anyone know whether the methods of calculating the various reserves are still relevant?
The examiners' comments for that question seem to suggest that this was something candidates were expected to know.
I haven't been able to find anything that would help me answer this question in the 2017 version of core reading and am wondering if it has been removed since 2013 or if this is more of a "see if you can work it out" sort of question. Or maybe I'm just not looking in the right place?

Thanks!
Click to expand...
I would be surprised if it is no longer relevant! The examiner's comment seems to suggest that part iii is not standard bookwork, but I assume some of these were covered in the CT subjects? e.g. how to estimate IBNR.
 
Hmm, thanks for the suggestion.
I did check the content of the CTs and the only reserve calculations covered are in CT5 for prospective and retrospective net/gross premium reserves and NURs for unit-linked policies. There isn't anything that looks like what the examiners' comments suggest specifically for IBNR, Claims in Transit, UPR, URR etc., hence my question.
I wondered if anyone sat ST1 in 2013 and could shed some light on whether this was explicitly in the notes then?
Thanks.
 
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