I can't seem to get my head around these M&A type questions. Who provides input on the actuary's letter? I was under the impression that it's the seller's actuary, but maybe he just signs it. This question asks what you need to calculate the transfer value. If you are the seller's actuary, then you're supposed to provide the actuary's letter - correct?. Is it really that surprising (per examiners comments) that many people didn't consider it as a bit of information that you needed. At least to my way of thinking it's something you need to do yes, but not something you need to get.
Hi didster You're right that the seller's actuary is likely to produce the actuary's letter (and will negotiate the terms with the buyer's actuary). Technically, the actuary's letter is a piece of information that will be required in order to do the calculations. Therefore, you need to list it in your answer even if, in practice, it would be trivial for the actuary to obtain it (ie they could just pick the relevant file up from the shelf). We've seen this sort of thing before in SA4, so in the exam it's always worth mentioning these basic bits of information.
