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EA826
03-06-2011, 09:42 AM
Can anyone explain why none of the plans in the case study have a prepaid/accrued expense? I must be missing something obvious but don't know what it is - I thought that was just a calculated number and based on their numbers it seems like it shouldn't be N/A. Thanks!
NoRiskNoGain
03-06-2011, 09:58 AM
I agree with you, it has to be a mistake.
The Canadian case study has the numbers right, so you can use that one to check your numbers.
SteveA
03-07-2011, 01:10 PM
FAS 158 removed accrued/prepaid expense from financial statements. U.S. companies now report the entire funded status directly on their balance sheet as a liability (asset)
Blondie
03-10-2011, 10:04 AM
I'm a little confused. In my Study Notes, there was a notice saying a case study will not be used for Spring 2011 CSP exams. But when you open the SOA syllabus, the link to the case study is still working...
SteveA
03-10-2011, 02:50 PM
I'm a little confused. In my Study Notes, there was a notice saying a case study will not be used for Spring 2011 CSP exams. But when you open the SOA syllabus, the link to the case study is still working...

Where do you see the notice that no case study will be used? Item 6 of my Introductory Study Note states "Study Note RU-113-11 is a case study that will be used as a basis for some questions on the Spring examination." This seems pretty clear.
Blondie
03-10-2011, 03:28 PM
It was on a sheet of bright pink paper dated December 2010 that was on top of the Study Notes I ordered from the SOA. "A case study will not be used for the Spring 2011 ILA, CSP U.S. and Canada exams. Please disregard the case study included in this study note set." And the case study in the set was RU-13-11.

I emailed them to see what's going on, will let you know what I find out.
SteveA
03-10-2011, 03:50 PM
"A case study will not be used for the Spring 2011 ILA, CSP U.S. and Canada exams. Please disregard the case study included in this study note set."

I read this to indicate that no case study is being used for the Individual Life and Annuities (ILA) exam CSP. Not sure why they would put this in the Retirement exam CSP study not package, but I'm 99% sure they will use the case study for the retirement exam.

In any case, please let us know what they say in response to your email.
Blondie
03-10-2011, 04:02 PM
OOOOHHHH, that makes sense...I should have paid more attention to the ILA part. I just checked the updates to the Life and Annuities syllabus and it says no case study (there were no updates in the Retirement section).

Man, they're really trying to confuse this blonde...they left out some readings in my Study Notes too.
Tan
04-16-2011, 04:05 PM
Does anybody know why new items were added to 2011 case study? They split PBO into fully vested and not fully vested participants and added Average Future Working Lifetime to Vesting.
Thanks!
NoRiskNoGain
04-16-2011, 04:18 PM
Does anybody know why new items were added to 2011 case study? They split PBO into fully vested and not fully vested participants and added Average Future Working Lifetime to Vesting.
Thanks!

It's to allow you to calculate the expense under IAS19.