Financial Reporting Flashcards
1
Q
What are risk-based capital techniques?
A
2
Q
What are active vs. passive approaches?
A
3
Q
What is the interplay between the strength of the supervisory reserves and the level of solvency capital required?
A
4
Q
What is the process of completing an actuarial valuation?
A
5
Q
What are statistical vs. case estimates?
A
6
Q
What are setting assumptions?
A
7
Q
Why is a consistent asset and liability value important?
A
8
Q
What is sensitivity analysis
A
9
Q
What are market consistent valuations?
A
10
Q
Why is GPPPV not used for ST policies?
A
- would need to calculate monthly approximations for mortality and morbidity, to capture how they change over the year
- these approximations are not usually accurate over such short terms
- these approximations are complicated to calculate
- reserve for ST policies tends to be quite small anyway so no need for very accurate reserve calculations
