Actuarium

SOA GIFREUGeneral Insurance — Financial & Regulatory Environment (U.S.)

Fellowship (FSA)
4 hours·10–12 written-answer questions·≈350 study hours
Score 0/0 · 5 MC
  1. GIFREU · Q1
    Multiple choice
    Actuarial opinion, reinsurance accounting & risk transfer

    A reinsurance contract has a 12% probability of producing a present-value loss to the reinsurer, and the expected PV loss given a loss is 15% of PV premium. Calculate the expected reinsurer deficit and state whether it passes a 1% threshold.

  2. GIFREU · Q2
    Written answer
    Actuarial opinion, reinsurance accounting & risk transfer

    Describe the difference between an unqualified and a qualified Statement of Actuarial Opinion, and give one circumstance that would lead an appointed actuary to issue a qualified opinion.

  3. GIFREU · Q3
    Written answer
    Actuarial opinion, reinsurance accounting & risk transfer

    Explain why retroactive reinsurance (covering losses that have already occurred) is accounted for differently under U.S. SAP than prospective reinsurance, and what special surplus treatment applies.

  4. GIFREU · Q4
    Multiple choice
    Actuarial opinion, reinsurance accounting & risk transfer

    The commonly cited '10-10 rule' for reinsurance risk transfer testing refers to:

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