SOA ILA LAMIndividual Life & Annuities — Life ALM & Modeling

Fellowship (FSA)

5 hours·≈10 written-answer questions·≈400 study hours

Score 0/0 · 4 MC

ILA LAM · Q1
Multiple choice
Model governance & validation
Under ASOP 56, which is NOT a required consideration when relying on a model developed by others?
ILA LAM · Q2
Written answer
Model governance & validation
Design a validation plan for a new stochastic VA reserving model before its first production use. Structure your answer by inputs, methodology, implementation, outputs and governance.