Hi all, Would be great if someone could help! I have a few questions relating to the solution of this question, which asked for a description of how BEL is determined for PMI. In the solution, it saids the two main elements of BEL are (a) claims provision relating to past exposure (i.e. o/s claims, IBNR, IBNER, claims in transit, claims expense etc), and (b) premium provision relating to future exposure. What exactly is included in (b)? Is this the expected future premium income from in force policies, or expected future claim outgo from unearned premium (or unexpired risks) of in force policies, or both combined!? Under SII, due to contract boundary, PMI premiums after the next policy renewal date may not be allowed for in the BEL. Is this because those policyholders due for renewal could refuse to renew the contract, or is it because the insurer can in theory refuse to renew? One bullet point in the solution says premiums for 'policies that are due for renewal where the renewal letter has already been sent to the policyholders' should be included in the BEL, doesn't that contradict the contract boundary rule? The solution also mentioned Bound But not Incepted (BBNI) business - where is this covered in the course notes? The solution mentioned illiquidity premium - how is that relevant to the calculation of BEL for PMI? Exam technique query The last few bullet points of the solution mentioned illiquidity premium, matching adjustment (MA), and that the use of MA is unlikely to be approved by the regulator for PMI business. In the exam, are we likely to get marks for pointing out things that are not relevant for the product/situation in question, like the example mentioned here? Many thanks! M.