Identification and documentation of the controls and policies which address the risk management issues for each of the Standards is the necessary step for:
Outgoing premiums less return premiums arising from reinsurance purchased from other insurance entities are called:
What is derived from its future cash flows, adjusted for risk as well as any other relevant economic characteristics?
Asset/Liability Management recognizes that the financial impact of an asset or liability is mainly realized through its:
What is the second-order measure of the interest rate sensitivity of an instrument and the sensitivity of duration to changes in interest rates?
Prepayment of a conventional mortgage loan, prior to its specified maturity, is discouraged through the general market acceptance of significant prepayment penalties. Often these penalties are calculated so that when prevailing market interest rates are:
Which of the following is NOT the way to make changes in variables that can be considered in the loss reserving process?
Which of the following is the significant requirement for ongoing regulatory reporting to the Office of the Superintendent of Financial Institutions (“OSFI”)?
Direct serving loans method requires a system of good internal control and requires that the functions be split between the Accounting Department and the Investment Department. In such a case the Accounting Department is responsible for all of the following EXCEPT:
TESTED 23 Feb 2025
