Chapter 1, 2 and 3 Actuarial advice, External environment and Regulation Flashcards

1
Q

Different types of advice

A

FRI

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2
Q

The external environment

A

CREATE GREAT LISTS

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3
Q

Functions of the regulator

A

SERVICE

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4
Q

Regulation regimes:

A

UVSS

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5
Q

Regulation aims:

A

GRIPIE

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6
Q

Regulation needs: Reducing info asymmetries

A

SPIDER CC

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7
Q

Regulation needs: Confidence in market

A

CPI’S

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8
Q

Cost if regulation:

A

PUMA CR

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9
Q

Influences of policyholder reasonable expectations

A

PEMB

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10
Q

Managing conflicts of interest

A

CARD R/ CAR DR.

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11
Q

Regulation that the state could impose to regulate providers

A

PAM SAM BAM VR

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12
Q

Merits of Statutory regulation:

A

PENI MUCI

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13
Q

Merits of Self-regulation :

A

REK PEL

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14
Q

The different forms of regulation:

A

PrOF

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