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

GIFREU · Q1
Multiple choice
Statutory accounting & Annual Statement
Under U.S. statutory accounting, a premium deficiency reserve is required when:
GIFREU · Q2
Multiple choice
Statutory accounting & Annual Statement
Schedule P of the U.S. Annual Statement is primarily used by regulators to:
GIFREU · Q3
Written answer
Statutory accounting & Annual Statement
Explain how statutory accounting principles (SAP) differ from GAAP with respect to policy acquisition costs, and why this difference matters for a growing company's reported surplus.