The ACC Flashcards Preview

Actuarial Risk Management: CA1 > The ACC > Flashcards

Flashcards in The ACC Deck (5):
1

The general commercial and economic environment
A SPRITE

Asset classes
Stakeholders
Providers of benefits
Regulation
Insurance products
The external environment
Economic influences

2

Specifying the problem
PRiCC

Project management and capital project appraisal
Risk and risk management
Contract design
Capital requirements

3

Developing a solution
SPCA PS MAD

Surplus management
Provisioning
Capital management
Asset management

Setting assumptions
Pricing and funding

Modelling
Accounting and reporting
Data

4

Monitoring the experience
MA

Monitoring
Analysis of surplus

5

Professionalism

How to do a professional job PRICK CNIC
Managing conflict: CAR DR
Chinese walls
Avoiding conflict, such as declining a job
Records kept in detail of the work done
Disclose the conflict to all parties involved
Regulators notified if TCF not complied with

TCF objectives:
- Consumer confident that they being treated fairly
- Products and services meet needs
- Clear information provided
- Advice is personalized to consumer
- Products perform as expected
- Consumers do not face post sale barriers