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Universal Life > Valuation > Flashcards

Valuation Flashcards

1
Q

What does breakpoint 0 do?

A

Initialize environment

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2
Q

What is breakpoint 1 also called?

A

Horizon Process

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3
Q

What is the UPD?

A

Updated Policy Data *according to me

It has the policy data from the past month

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4
Q

What is the PDH?

A

Policy Detail History

It has the entire history for all policyholders

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5
Q

What does breakpoint 1 do?

A

Merges the PDH with the UPD and produces the HCF, PMF, and VMF.

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6
Q

What does HCF stand for?

A

Historical Cash Flows

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7
Q

What does PMF stand for?

A

Projected Master File

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8
Q

What does VMF stand for?

A

Valuation Master File

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9
Q

What breakpoint and reserve is PMF used for?

A

Breakpoint 3 - GAAP reserves

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10
Q

What does GAAP stand for?

A

Generally Accepted Accounting Principles

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11
Q

What breakpoint and reserve is VMF used for?

A

Breakpoint 2 - STAT/tax reserves

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12
Q

What does breakpoint 3 do?

A

Calculate GAAP reserves

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13
Q

What does breakpoint 2 do?

A

Calculate Stat and tax reserves

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14
Q

What are capital gains?

A

They are an increase in asset value

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15
Q

What is breakpoint 4?

A

Vector adjustments without capital gains

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16
Q

What is breakpoint 5?

A

Vector adjustments with capital gains

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17
Q

What is breakpoint 5 used for?

A

The DAC calculation

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18
Q

What does breakpoint 6 do?

A

Creates projections reports - CG report

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19
Q

What does RCF stand for?

A

Report Cash Flows

20
Q

What does PCF stand for?

A

Projected Cash Flows

21
Q

What does breakpoint 7 do?

A

Experience studies

22
Q

What does breakpoint 8 do?

A

Does scenarios

23
Q

Where is the documentation located?

A

I:\Poly\POLYSYS\Documentation\UL

24
Q

Where is the controls workbook located?

A

I:\Poly\POLYSYS\STAT\202107\UL

25
Where is the CG report located?
I:\Poly\POLYSYS\STAT\202106\IUL
26
Where is the EIUL Valuation Parameters workbook located?
I:\Poly\POLYSYS\EIUL Valuation Parameters\2021 Parameters\Q3\ulmtable\202107
27
What does the PBR Breakpoint 1 do?
Creates the initial VMF
28
What does PBR Breakpoint 2 do?
Runs the NPR
29
What does PBR Breakpoint 3 do?
Runs the DR
30
What does PBR Breakpoint 4 do?
Runs the SR
31
What does NPR stand for?
Net Premium Reserve
32
What does DR stand for?
Deterministic Reserve
33
What does SR stand for?
Stochastic Reserve
34
For PBR model, what does the version 1 of the VMF table? | Is the result of?
Is the raw table without any reserves stored in it. | Result of PBR BP 1.
35
For PBR model, what does the version 2 of the VMF table? | Is the result of?
Calculates and populates the STAT fields. (NPR) - same as legacy Results of the PBR BP2
36
For PBR model, what does the version 3 of the VMF table? | Is the result of?
Populates the modeled reserve fields DR and SR Results of PBR BP 3 and 4
37
What is the SQL PBR database?
SQL 377
38
What is the SQL Legacy database?
SQL 126
39
What does CDF stand for?
Custom Defined Function
40
What is the other name for the JET workbook?
UL workbook
41
Where to find the UL workbook
I:\Poly\POLYSYS\STAT\202106\202106 JET
42
What workbook to use for Stat reserves?
Jet workbook
43
What workbook to use for GAAP reserves?
CG report
44
In general, GAAP reserves are?
the AV
45
What is a secondary guarantee?
Guarantees you will not lapse if you are paying minmum
46
What is a secondary guarantee?
Guarantees you will not lapse if you are paying minimum premium amounts
47
Where to find the product specs?
P:\Products and Riders

Universal Life (2 decks)

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