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Quentin Fourie
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Decks in this class (43)
Acronyms
Contract design stakeholders,
Contract design factors,
Reasons for calculating provisions
58
cards
Idea Generation
General business risks,
Risks life insurer,
Risks general insurer
7
cards
Ch 0: Introduction
What is Subject A311 all about? Syllabus objectives 3.1 Describe the actuarial control cycle and explain the purpose of each of its components. 3.2 Demonstrate how the actuarial control cycle can be applied in a variety of practical commercial situations, including its use as a risk management control cycle. The
20
cards
Ch 1: Actuarial Advice
Possible clients whom actuaries c...,
List public sector stakeholders t...,
List 8 areas in which actuaries c...
18
cards
Ch 2: The external environment
List the factors to consider in r...,
External environment legislation ...,
What two forms of gi cover are co...
19
cards
Ch 3: Regulation
List the principle aims of regula...,
Direct costs of regulation,
Indirect costs of regulation
26
cards
Ch 4: Introduction to financial products and customer needs
What are the main types of provis...,
List the main types of social sec...,
Insurance contract
14
cards
Ch 5: Benefits overview and providers of benefits
Key purpose of pensions,
5 main providers of benefits,
Defined benefit scheme
15
cards
Ch 6: Life insurance products
List 15 life insurance products,
How are profits calculated for li...,
Assumptions needed in life insurance
23
cards
Ch 7: Health insurance products
Main types of healthcare products,
Aspects to consider in product de...,
Types of underwriting for short t...
36
cards
Ch 8: General insurance products
4 key features of general insuran...,
List the four generic groups of g...,
List the products covered under l...
28
cards
Ch 9: Bond and money markets
Outline three situations when ind...,
List ten investment and risk char...,
List nine investment and risk cha...
19
cards
Ch 10: Equity and property markets
Define the term ordinary share,
List eleven investment and risk c...,
Describe the cashflows on an ordi...
29
cards
Ch 11: Other investment classes
Outline the purpose of collective...,
Define closed ended in the contex...,
Define open ended in the context ...
39
cards
Ch 12: Behaviour of the markets
State the key risks to which an i...,
How is the general level of the m...,
What are the two main factors aff...
46
cards
Ch 13: Valuation of investments
List 8 methods used to value indi...,
What are the advantages and disad...,
What are the advantages and disad...
27
cards
Ch 14: Relationship between returns on asset classes
State the formula for the require...,
State the formula for the expecte...,
What does it mean if the required...
13
cards
Ch 15: Choosing an appropriate investment strategy
What criteria should an investmen...,
Give 4 examples of possible inves...,
Give three examples of how risk m...
21
cards
Ch 16: Asset-liability management
What are the two key principles o...,
List the features that might be c...,
Describe the cashflows on a singl...
26
cards
Ch 17: Investment management
Active investment management,
Passive investment management,
List 6 factors to consider before...
20
cards
Ch 18: Modelling
What is a model,
Modelling requires a balance to b...,
What is the advantage of an actua...
25
cards
Ch 19: Data
Define personal data,
Eight principles which must be fo...,
Examples of what might count as s...
27
cards
Ch 20: Setting assumptions
What are the 5 most important thi...,
Give three examples of where hist...,
Give 4 examples of where current ...
19
cards
Ch 21: Mortality and morbidity
Describe the use of risk classifi...,
State the limitations of risk cla...,
Explain how life insurance compan...
12
cards
Ch 22: Expenses
Give examples of expenses that ar...,
How do the expenses relating to a...,
Explain briefly the process of al...
16
cards
Ch 23: Contract design
List 18 factors to consider when ...,
List the 7 key parties involved i...,
List the factors influencing the ...
30
cards
Ch 24: Pricing and financing strategies
What is the difference between th...,
Formula for the value of premiums...,
List other factors to consider wh...
21
cards
Ch 25: Risk Governance
List the 6 stages in the risk man...,
The risk identification stage of ...,
Explain the purpose of the risk c...
17
cards
Ch 26: Risk identification and classification
Outline 5 methods of identifying ...,
Suggest 7 categories of risks tha...,
Wider risk identification techniques
24
cards
Ch 27: Financial products and benefit scheme risks
What are the two key risks to a b...,
What is the key risk to the state...,
What are the 4 key areas of benef...
17
cards
Ch 28: Accepting risk
List features of a company that m...,
How does a market for risk arise,
What makes a market for risk tran...
10
cards
Ch 29: Risk measurement and reporting
Describe how the risk identificat...,
Outline how a model could be used...,
State 5 ways of evaluating risks
21
cards
Ch 30: Risk Transfer
List 6 possible responses from wh...,
How could each risk mitigation op...,
What 5 factors affect whether a s...
23
cards
Ch 31: Other risk controls
List 4 risk management tools avai...,
Give 5 examples of how an insurer...,
Why might an insurance company us...
19
cards
Ch 32: Provisions
Define the term provisions,
List 10 reasons why a provider ca...,
What is the difference between in...
21
cards
Ch 33: Valuation of liabilities
What is the most important factor...,
Describe the traditional discount...,
What is the major criticism of th...
19
cards
Ch 34: Reporting results
Outline the emphasis of changes t...,
List eleven accounting concepts,
Outline 7 important things that s...
10
cards
Ch 35: Insolvency and Closure
Why do insurers rarely become ins...,
How are an insurance company s ex...,
If an insurance company is facing...
11
cards
Ch 36: Capital Management
What does capital management involve,
Why do institutions need capital,
Why do trading companies need cap...
19
cards
Ch 37: Capital requirements
List 2 types of assessments of ca...,
Define regulatory capital,
List 3 types of liabilities cover...
24
cards
Ch 38: Surplus and surplus management
Define the terms surplus and surp...,
List the reasons why providers an...,
Carrying out an analysis of surpl...
17
cards
Ch 39: Monitoring
Give 3 reasons why experience is ...,
Outline the broad data requiremen...,
How should demographic factors su...
5
cards
App: Banking
Banking book,
Trading book,
Corporate banks
25
cards
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A311 Actuarial Risk Management (2024)
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