Acronym vs Area Test 3: 35-43 Flashcards Preview

Actuarial Risk Management: CA1 > Acronym vs Area Test 3: 35-43 > Flashcards

Flashcards in Acronym vs Area Test 3: 35-43 Deck (43):
1

Reasons for calculating provisions :
Individual and global

BAD MEDICS
CARD

2

Ways to counter anti-selection:

MES

3

Reasons for continuous analysis of surplus:

DIVERGENCED

4

Disclosure is important in a benefit scheme because

SIMMERS

5

Individual disclosures are often made on

PRICE

6

Information to be disclosed includes

DISCLOSURE

7

Levers on surplus

CRIEC CLIM VVaC

8

Carrying out surplus analysis

PCEEA

9

Types of risk

COMBEL

10

The principles of good lending relate to the

CASPAR

11

Causes of inappropriate advice

CRIMES

12

Investment risks

DRUMOLITE

13

Insurable risk criteria

FIA MUDPIS

14

Risk management helps to

AEIOU PRC D / ASGrow SPIDO D

15

Risk registers are a way to categorise risks faced by a business or individual. Need to quantify

ICorP

16

Assessing capital requirement is difficult because

CRISPS

17

Factors to consider when valuing options

DECS CICA

18

Mitigating against inappropriate advice

CARSHoW GRound

19

Factors determining the application of surplus for a benefit scheme:

LIST DiSS

20

Differences that exist in disclosure relates to

AFASI

21

Factors influencing the choice of valuation method and assumptions when determining the value of insurers liabilities

PuLSGRiDBNS

22

Factors determining the application of surplus for a life insurer:

PP WOES

23

Factors causing overall uncertainty of benefit schemes

Da CoMPaS

24

Factors affecting the contribution level for a benefit scheme

I PIE

25

Risk of benefits for a DB scheme

ISUME LiBeNT

26

Risk identification:

DR RUB

27

Brainstorming with experts should yield:

MILEP

28

Risk Measure should identify
Risk measures

ProSCoCo
LEAV

29

Risk control methods

FAT SIR LEP

30

Risk financing should:

DRC MiD

31

Accounting ratios that indicate insurer's financial position and profitability:

SARPY and ICOCO

32

Factors affecting the certainty of contributions made to the benefit scheme

LUI IFANTA

33

The method of scenario analysis

GroP CaST/ GroDe CaRuT

34

The method of stress testing:

SIM

35

Why ERM is effective:

VIS PROE SO

36

Interpreting accounts

Nicr Fap/
ClEO IRP

37

Similar aims for different accounting standards

CARS

38

Market risk - why holding a matched position is difficult:

CDC

39

Business Risk for insurers

BREW CO

40

Risks in Life and General insurance

RISK LIFE DROWN CATS MUn

41

Methods for calculating reserves:

SPEC

42

Different methods of allowing for prudence:

MaCoR

43

Risks in a DC scheme

OLIE