Actuarial F103 - General Insurance Flashcards

Decks in this Class (33):

• Chapter 0 Introduction To General Insura

  Chapter 0: Introduction to General Insurance

  Sample Cards:

  actuarial roles within general insurance,

  technical reserves,

  2 types of technical liabilities
  40 Cards
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• Chapter 1 Insurance Products Background

  Chapter 1: Insurance Products - Background (F203 Appx. 1)

  Sample Cards:

  3 conditions for a risk to be insurable,

  6 criteria of insurable risk,

  uberrima fides
  48 Cards
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• Chapter 2 Insurance Products Types F203

  Chapter 2: Insurance Products - Types (F203 Appx. 2)

  Sample Cards:

  liability insurance,

  tort,

  liability insurance claims are usually m
  141 Cards
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• Chapter 4 Accounting Methods And Interpr

  Chapter 4: Accounting: Methods and Interpretation

  Sample Cards:

  2 distinct methods used by general insur,

  annual or accident year accounts,

  funded or underwriting year accounts
  53 Cards
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• Chapter 5 Reinsurance Products Backgroun

  Chapter 5: Reinsurance products - background (F203 Appx. 3)

  Sample Cards:

  define reinsurance,

  define retrocession,

  define cede
  32 Cards
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• Chapter 6 Reinsurance Products Types F20

  Chapter 6: Reinsurance products - types (F203 Appx. 4)

  Sample Cards:

  quota share,

  commissions payable under a quota share,

  return commission
  43 Cards
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• Chapter 7 Determining Appropriate Reinsu

  Chapter 7: Determining appropriate reinsurance (F203 Appx. 8)

  Sample Cards:

  factors influencing the amount and type,

  2 factors influencing reinsurance underc,

  3 causes of risk accumulations
  20 Cards
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• Chapter 8 General Insurance Markets

  Chapter 8: General Insurance Markets

  Sample Cards:

  reinsurance for insurance providers can,

  direct insurers,

  3 groups of direct insurers
  67 Cards
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• Chapter 9 The External Environment

  Chapter 9: The External Environment

  Sample Cards:

  3 reasons why medical inflation can be s,

  3 components of personal injury claims h,

  describe the underwriting cycle
  24 Cards
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• Chapter 10 Risk And Uncertainty F203 App

  Chapter 10: Risk and Uncertainty (F203 Appx. 5)

  Sample Cards:

  uncertainty,

  2 main headings of uncertainties faced b,

  4 main headings of elements of risk and
  32 Cards
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• Chapter 11 Data

  Chapter 11: Data

  Sample Cards:

  actuaries need data for 3 main purposes,

  2 main reasons lack off adequate data is,

  2 main categories of data sources
  49 Cards
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• Chapter 12 Actuarial Investigations

  Chapter 12: Actuarial Investigations

  Sample Cards:

  6 steps involved in rating analyses,

  rating analyses estimating ultimate clai,

  rating analyses estimating profitability
  79 Cards
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• Chapter 13 Reasons For Estimating Reserv

  Chapter 13: Reasons for estimating reserves and different reserving bases

  Sample Cards:

  9 reasons for assessing a general insure,

  define reserving basis,

  considerations when setting reserving ba
  15 Cards
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• Chapter 14 Best Estimate Reserves

  Chapter 14: Best estimate reserves

  Sample Cards:

  2 important issues when presenting reser,

  best estimate reserve,

  in sam the best estimate is characterise
  54 Cards
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• Chapter 15 Quantifying Uncertainty In Re

  Chapter 15: Quantifying uncertainty in reserves

  Sample Cards:

  9 random factors influencing the run off,

  heads of damage,

  further uncertainties in using historic
  42 Cards
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• Chapter 16 Assessment Of Reserving Resul

  Chapter 16: Assessment of reserving results

  Sample Cards:

  the results of the reserving exercise ne,

  2 approaches to analysing the reserving,

  diagnostic
  16 Cards
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• Chapter 17 Reinsurance Reserving F203 Ap

  Chapter 17: Reinsurance reserving (F203 Appx. 9)

  Sample Cards:

  data can be a problem particularly for r,

  7 factors to consider when grouping data,

  5 main methods reserving for outwards re
  24 Cards
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• Chapter 18 Rating Methodologies And Assu

  Chapter 18: Rating Methodologies and Assumptions (F203 Appx. 6)

  Sample Cards:

  the rating methodology used will depend,

  2 components of the risk premium,

  5 components of the office premium
  30 Cards
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• Chapter 19 Methods Of Calculating The Ri

  Chapter 19: Methods of calculating the risk premium

  Sample Cards:

  burning cost,

  burning cost premium bcp calculation,

  effective burning cost
  57 Cards
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• Chapter 20 Further Considerations When R

  Chapter 20: Further Considerations When Rating (F203 Appx. 7)

  Sample Cards:

  9 requirements of good rating factors,

  requirements of a rating factors define,

  requirements of a rating factors uncorre
  18 Cards
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• Chapter 21 Investment Principles And Alm

  Chapter 21: Investment principles and ALM

  Sample Cards:

  2 components of return to shareholders o,

  primary objectives of investment,

  the risk appetite of the insurer will de
  40 Cards
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• Chapter 22 Capital Modelling Methodologi

  Chapter 22: Capital Modelling Methodologies

  Sample Cards:

  the aim of a capital model,

  available capital,

  required capital
  72 Cards
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• Glossary

  Glossary

  Sample Cards:

  24ths method,

  365ths method,

  accident year
  264 Cards
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• Q A Bank Part 1

  Q&A Bank Part 1

  Sample Cards:

  12 possible risk factors for a comprehen,

  domestic household insurance cover,

  domestic household insurance possible pe
  45 Cards
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• Q A Bank Part 2

  Q&A Bank Part 2

  Sample Cards:

  5 reasons why persistency of business ma,

  explain why some classes of business are,

  5 problems for an insurer associated wit
  10 Cards
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• Q A Bank Part 3

  Q&A Bank Part 3

  Sample Cards:

  fundamental reason why statistical metho,

  12 possible sources of error when using,

  list the circumstances in which an insur
  46 Cards
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• Qa Bank Part 4

  QA Bank Part 4

  Sample Cards:

  12 factors affecting the number of ratin,

  define experience rating,

  4 arguments supporting the use of experi
  7 Cards
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• Qa Bank Part 5

  QA Bank Part 5

  Sample Cards:

  state the characteristics of an insurers,

  7 reasons why in practice the assets hel,

  comment on the suitability of government
  32 Cards
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• Past Papers 2014

  Past papers 2014

  Sample Cards:

  solvency margin,

  what is meant by an insurer having an im,

  outline the ways in which reinsurance ca
  36 Cards
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• Past Papers 2015

  Past papers 2015

  Sample Cards:

  profit commission,

  risks attaching basis,

  reinsurance contracts to which profit co
  36 Cards
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• Past Papers 2016

  Past papers 2016

  Sample Cards:

  explain the effect that inadequate data,

  outline the measures a company could tak,

  economic capital
  33 Cards
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• Past Papers 2017

  Past papers 2017

  Sample Cards:

  commutation,

  reinstatement premium,

  credit insurance
  27 Cards
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• Qq

  QQ

  Sample Cards:

  for data obtained from external sources,

  measures to mitigate the effects of inad
  2 Cards
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