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  #201  
Old 05-03-2019, 09:03 PM
Clark Kent Clark Kent is offline
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Originally Posted by Arms91 View Post
Well at least someone else got that! Maybe I wasn't totally off base here. I figured it must be wrong but I thought I followed the right process.
Did you PV the DR reserves to time 0? I realized that the NPR values were EOY 2 after I took the DR back to time 0. I think that is why I also got a negative also....but obviously not 100% sure.
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  #202  
Old 05-03-2019, 10:56 PM
polar09 polar09 is offline
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Well at least someone else got that! Maybe I wasn't totally off base here. I figured it must be wrong but I thought I followed the right process.
Also got -79 but I was running out of time so I just moved on
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  #203  
Old 05-03-2019, 11:01 PM
Canadiens Fan Canadiens Fan is offline
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One thing i learned from LP / ERM is that not knowing the soft stuff (MAR/SOX/ASOPS) can cost you the exam when a 3-4 point buffer can make a difference.
Exactly. What sucks about the soft stuff though is that it's so generic that it's hard to commit to memory.
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  #204  
Old 05-04-2019, 05:47 AM
mathslover24 mathslover24 is offline
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for question 5...I missed to include the IMR in the Min reserve calculation and probably that's why did not get the negative reinsurance reserve.
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  #205  
Old 05-04-2019, 06:54 AM
Arms91 Arms91 is offline
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Originally Posted by Clark Kent View Post
Did you PV the DR reserves to time 0? I realized that the NPR values were EOY 2 after I took the DR back to time 0. I think that is why I also got a negative also....but obviously not 100% sure.
I can't remember. Although weren't we calculating the reinsurance credit as of EOY 2? I think for the DR I only used the cash flows for years 3, 4, and 5 since I thought we were doing the entire reserve credit calculation as of EOY 2. Can anyone confirm?
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  #206  
Old 05-04-2019, 07:47 AM
Canadiens Fan Canadiens Fan is offline
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About the Canadian exam, I spoke to about 10 candidates after the exam and they found it very hard, some even said it was harder than last sitting where the pass rate was 30%.
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  #207  
Old 05-04-2019, 07:58 AM
Bigbobm Bigbobm is offline
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Originally Posted by Arms91 View Post
I can't remember. Although weren't we calculating the reinsurance credit as of EOY 2? I think for the DR I only used the cash flows for years 3, 4, and 5 since I thought we were doing the entire reserve credit calculation as of EOY 2. Can anyone confirm?
I didnít get a negative reserve, so Iím not sure what was done differently than everyone else. But I did interpret it as reserve credit at eoy 2
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  #208  
Old 05-04-2019, 08:42 AM
Arms91 Arms91 is offline
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I didnít get a negative reserve, so Iím not sure what was done differently than everyone else. But I did interpret it as reserve credit at eoy 2
Thanks! Yeah just to clarify, I didn't get negative reserves (both pre and post were positive). My final answer for the reserve credit was -79 though.
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  #209  
Old 05-04-2019, 08:59 AM
Arms91 Arms91 is offline
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I randomly remember a couple of other final answers I got. For the AG38 8e calculation, I got 6,6xx (don't remember the last two digits, but know it was over 6,600). Also I think for the very last subquestion of the last question, I got 970. Anyone else remember what they got for these?

For #7a (net income and capital and surplus), I got confused about the two types of dividends (policyholder and shareholder). I included both for the net income and in the capital and surplus calculation. I'm pretty sure that was wrong though. Weren't you supposed to ignore shareholder dividends in the net income calculation, and vice versa for the capital and surplus calculation?
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  #210  
Old 05-04-2019, 09:20 AM
its_me its_me is offline
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Originally Posted by Arms91 View Post
I randomly remember a couple of other final answers I got. For the AG38 8e calculation, I got 6,6xx (don't remember the last two digits, but know it was over 6,600). Also I think for the very last subquestion of the last question, I got 970. Anyone else remember what they got for these?

For #7a (net income and capital and surplus), I got confused about the two types of dividends (policyholder and shareholder). I included both for the net income and in the capital and surplus calculation. I'm pretty sure that was wrong though. Weren't you supposed to ignore shareholder dividends in the net income calculation, and vice versa for the capital and surplus calculation?
No, Policyholder div gets deducted from Net Gain for Net Income.
Capital and Surplus reflects the Shareholder dividends paid out.

I might have messed in accounting for the UGL
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