The ACC

Question 1

The general commercial and economic environment

A SPRITE

Answer 1

Asset classes
Stakeholders
Providers of benefits
Regulation
Insurance products
The external environment
Economic influences

Question 2

Specifying the problem

PRiCC

Answer 2

Project management and capital project appraisal
Risk and risk management
Contract design
Capital requirements

Question 3

Developing a solution

SPCA PS MAD

Answer 3

Surplus management
Provisioning
Capital management
Asset management

Setting assumptions
Pricing and funding

Modelling
Accounting and reporting
Data

Question 4

Monitoring the experience

MA

Answer 4

Monitoring

Analysis of surplus

Question 5

Professionalism

Answer 5

How to do a professional job PRICK CNIC
Managing conflict: CAR DR
Chinese walls
Avoiding conflict, such as declining a job
Records kept in detail of the work done
Disclose the conflict to all parties involved
Regulators notified if TCF not complied with

TCF objectives:

• Consumer confident that they being treated fairly
• Products and services meet needs
• Clear information provided
• Advice is personalized to consumer
• Products perform as expected
• Consumers do not face post sale barriers