OSFI AA Flashcards
1
Q
OSFI AA - What happens when AA is revoked or resigns
A
AA submits to superintendent and directors statement of circumstances; no one can accept before requesting that statmemt; 15 day wait limit
2
Q
OSFI AA - Responsibilities with respect to DCAT
A
report to board any material adverse effects; if no suitable action, send report to superintendent and notify board
3
Q
OSFI AA - AA qualifications required
A
FCIA; work in Canada 3 of last 6 years one in valuation; familiar with CSOPs; CPD up to date; not subject to adverse finding
4
Q
OSFI AA - Objectives of AA peer review
A
assist OSFI in assessing financial soundness; independent consultation and education to AA; maintain strength and confidence in work of AA
