Acronym vs Area Test 4: 43-48 Flashcards Preview

Actuarial Risk Management: CA1 > Acronym vs Area Test 4: 43-48 > Flashcards

Flashcards in Acronym vs Area Test 4: 43-48 Deck (25):
1

Risk management tools include

MURDAC

2

Reasons for reinsurance

SAD LIFES

3

Reasons for ART include

DESCARTES

4

Examples of ART contracts include

PISSI

5

Managing options and guarantees

DOLI

6

Management control systems

DOLA

7

Why is capital needed?

Individuals: CuS
Companies: CLOFFS
Providers of financial services and products: REG CUSHION

8

Capital management tools include:

BRIDES CC

9

Internal restructuring

FAIR VaCS

10

Three pillars of Solvency II:

QSD

11

Reasons for monitoring experience:

PAUMPE OP

12

Merits of PR:

Quota share: SHeRiL PC
Surplus: FHAM

13

Merits of XoL reinsurance:

CaPESH PP

14

Benefits of holding significant amounts of free capital:

FM PEER

15

Reasons for underwriting include:

SAFER E

16

Diversification can be achieved within the following:

RIGIDS OB

17

If applicants do not meet the minimum underwriting standards, they may be offered special terms such as:

DARER

18

Liability monitoring as a management control system

RACCo / CAR Co.

19

Merits of a standard capital model

LE USA/ MECCAI USA

20

Merits of a internal capital model

SWUAR CATU
/ SWARt CATHUN

21

Requirement from data for monitoring :

RRASH VoC

22

The process of monitoring a past experience:

D FaR
I CART
R

23

Reasons why a (general) insurance company would want to monitor their experience

PPRInC F MaMa

24

Reasons for investigating the appropriateness of the investment strategy:

FLIDA

25

Why solvency position might have changed?

BEE