Chapter 1, 2 and 3 Actuarial advice, External environment and Regulation Flashcards
1
Q
Different types of advice
A
FRI
2
Q
The external environment
A
CREATE GREAT LISTS
3
Q
Functions of the regulator
A
SERVICE
4
Q
Regulation regimes:
A
UVSS
5
Q
Regulation aims:
A
GRIPIE
6
Q
Regulation needs: Reducing info asymmetries
A
SPIDER CC
7
Q
Regulation needs: Confidence in market
A
CPI’S
8
Q
Cost if regulation:
A
PUMA CR
9
Q
Influences of policyholder reasonable expectations
A
PEMB
10
Q
Managing conflicts of interest
A
CARD R/ CAR DR.
11
Q
Regulation that the state could impose to regulate providers
A
PAM SAM BAM VR
12
Q
Merits of Statutory regulation:
A
PENI MUCI
13
Q
Merits of Self-regulation :
A
REK PEL
14
Q
The different forms of regulation:
A
PrOF
