0 - Actuarial control cylce

Question 1

Give the processes that are involved in the actuarial control cycle

Answer 1

1. Analysing situations, products and projects to understand risk exposure
2. Quantifying consequences of risk events
3. Determining appropriate approaches to risk management
4. Monitoring situation and risk management procedures

Question 2

Give the steps involved in the actuarial control cylce

Answer 2

1. The general economic and commercial environment
2. Specifying the problem
3. Developing the solutions
4. Monitoring experience
5. Professionalism