CIA.CSOP Flashcards

1
Q

what should be included in the AAR (Appointed Actuary’s Report) (4)

A

OPINION: on whether PolLiabs as determined by AA are fairly represented in insurer’s F/S
ALSO: detailed commentary, data, calculations

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2
Q

AA’s main responsibility regarding data in the AAR

A

that the data is RelSuff (reliable & sufficient) for valuation purposes

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3
Q

what disclosures are required by NEW AA in next AAR

A

DATES: outgoing AA exit date, incoming AA start date, OSFI notification date
COMMUNICATION: between incoming AA and outgoing AA
QUALIFICATIONS: of new AA

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