Acronym vs Area Test 3: 35-43

Question 1

Reasons for calculating provisions :

Individual and global

Answer 1

BAD MEDICS

CARD

Question 2

Ways to counter anti-selection:

Answer 2

MES

Question 3

Reasons for continuous analysis of surplus:

Answer 3

DIVERGENCED

Question 4

Disclosure is important in a benefit scheme because

Answer 4

SIMMERS

Question 5

Individual disclosures are often made on

Answer 5

PRICE

Question 6

Information to be disclosed includes

Answer 6

DISCLOSURE

Question 7

Levers on surplus

Answer 7

CRIEC CLIM VVaC

Question 8

Carrying out surplus analysis

Answer 8

PCEEA

Question 9

Types of risk

Answer 9

COMBEL

Question 10

The principles of good lending relate to the

Answer 10

CASPAR

Question 11

Causes of inappropriate advice

Answer 11

CRIMES

Question 12

Investment risks

Answer 12

DRUMOLITE

Question 13

Insurable risk criteria

Answer 13

FIA MUDPIS

Question 14

Risk management helps to

Answer 14

AEIOU PRC D / ASGrow SPIDO D

Question 15

Risk registers are a way to categorise risks faced by a business or individual. Need to quantify

Answer 15

ICorP

Question 16

Assessing capital requirement is difficult because

Answer 16

CRISPS

Question 17

Factors to consider when valuing options

Answer 17

DECS CICA

Question 18

Mitigating against inappropriate advice

Answer 18

CARSHoW GRound

Question 19

Factors determining the application of surplus for a benefit scheme:

Answer 19

LIST DiSS

Question 20

Differences that exist in disclosure relates to

Answer 20

AFASI

Question 21

Factors influencing the choice of valuation method and assumptions when determining the value of insurers liabilities

Answer 21

PuLSGRiDBNS

Question 22

Factors determining the application of surplus for a life insurer:

Answer 22

PP WOES

Question 23

Factors causing overall uncertainty of benefit schemes

Answer 23

Da CoMPaS

Question 24

Factors affecting the contribution level for a benefit scheme

Answer 24

I PIE

Question 25

Risk of benefits for a DB scheme

Answer 25

ISUME LiBeNT

Question 26

Risk identification:

Answer 26

DR RUB

Question 27

Brainstorming with experts should yield:

Answer 27

MILEP

Question 28

Risk Measure should identify | Risk measures

Answer 28

ProSCoCo | LEAV

Question 29

Risk control methods

Answer 29

FAT SIR LEP

Question 30

Risk financing should:

Answer 30

DRC MiD

Question 31

Accounting ratios that indicate insurer's financial position and profitability:

Answer 31

SARPY and ICOCO

Question 32

Factors affecting the certainty of contributions made to the benefit scheme

Answer 32

LUI IFANTA

Question 33

The method of scenario analysis

Answer 33

GroP CaST/ GroDe CaRuT

Question 34

The method of stress testing:

Answer 34

SIM

Question 35

Why ERM is effective:

Answer 35

VIS PROE SO

Question 36

Interpreting accounts

Answer 36

Nicr Fap/ | ClEO IRP

Question 37

Similar aims for different accounting standards

Answer 37

CARS

Question 38

Market risk - why holding a matched position is difficult:

Answer 38

CDC

Question 39

Business Risk for insurers

Answer 39

BREW CO

Question 40

Risks in Life and General insurance

Answer 40

RISK LIFE DROWN CATS MUn

Question 41

Methods for calculating reserves:

Answer 41

SPEC

Question 42

Different methods of allowing for prudence:

Answer 42

MaCoR

Question 43

Risks in a DC scheme

Answer 43

OLIE