University Of Illinois - Urbana-Champaign
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CAS Exam 8_ Section A Assessment With Answer Key 2024/2025
CAS Exam 7 Answer-Integrated Exam 2024/2025
Purpose of financial reporting Answer: Communicate financial results to the stakeholders Financial reports help stakeholders & regulators: Answer: 1. Track the company's financial performance 2. Compare the company's performance 3. Make informed financial decisions Accounting principles prescribed by the State Regulators Answer: Statutory Accounting Principles (SAP) Main reason that SAP rules are conservative Answer: Main focus of the regulators is to...
in force premium Answer: full term premium for policies that are in effect at a given point in time reported losses Answer: paid losses + case reserves estimated ultimate losses Answer: reported losses + ibnr reserve + ibner reserve operating expense ratio formula Answer: uw expense ratio + LAE/earned premium combined ratio formula Answer: loss ratio + LAE/earned premium + uw expense/written premium fundamental insurance equation Answer: ...
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