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Decks in this class (43)
Chapter 1: The SA general insurance market
The value of gross written premiu...,
Legislation governing short term ...,
8 short term insurance policy types
77
cards
Chapter 2: Taxation and supervision
Legislation governing the taxatio...,
Short term insurers are taxed on,
Resident based taxation
59
cards
Chapter 3: Solvency Assessment and Management (SAM)
Sam is based on 3 principles,
Objectives of the sam regime,
Sam requirements pillar i
38
cards
Chapter 4: Professional Guidance
Actuarial governance board agb,
Standards of actuarial practic,
Advisory practice notes apns
15
cards
Chapter 5: Reserving Bases
The results of operating activiti...,
Key considerations in saicas circ...,
International accounting standard...
21
cards
Chapter 6: Financial Planning
Prime objective in modelling,
A model should ideally meet 9 req...,
15 reasons why an insurer uses fi...
33
cards
Chapter 7: Analysis of experience
Analysis of claims data on their ...,
Analysis of claims data along wit...,
Estimation of outstanding claims
48
cards
Chapter 10: Pricing large commercial Risks
Large risk,
Wrt large commercial risks actuar...,
In order to understand the nature...
42
cards
Chapter 11: Catastrophe Models
Catastrophe models,
5 inter linked modules of a catas...,
Perils modelled with catastrophe ...
58
cards
Chapter 12: Reserving - Latent claims and disease claims
Dictionary definition latent,
Latency period,
Actuarial definition latent claims
19
cards
Chapter 13: Extreme Value Theory (EVT)
Extreme value theory evt,
2 families of distributions consi...,
5 uses of evt in general insuranc...
24
cards
Chapter 14: Ruin Theory
Ruin theory,
Lundbergs inequality,
E p u t ur u 0 u0 what values mig...
4
cards
Chapter 15: Portfolio Transfers
Companies can use portfolio trans...,
5 possible reasons for companies ...,
Run off to exhaustion
29
cards
Glossary
Syndicate lloyds,
Technical account general business,
Technical reserves provisions
249
cards
APN401 - Establishing Technical Provisions for Short-Term Insurers
Purpose of apn401,
3 valuations of short term insure...,
Published financial reporting nee...
44
cards
APN401: Glossary
Additional unexpired risk reserve,
Cash back bonus,
Central estimate
31
cards
Prudential Standard FSI 4.1 (Market Risk Capital Requirement)
Prudential standard fsi 41 sets out,
Who is ultimately responsible for...,
Who is ultimately responsible for...
32
cards
IFRS 17
Effective date of ifrs 17,
Ifrs 17 provides 3,
Contractual service margin
12
cards
Twin Peaks (Financial Sector Regulation Bill, 34D of 2015)
Twin peaks model of financial reg...,
2 fundamental objectives of the t...,
Objective of the prudential autho...
31
cards
A Safer Financial Sector to Serve South Africa Better
Governments proposals in the docu...,
Main proposal of the document,
The document addresses 5 areas
13
cards
The South African Microinsurance Regulatory Framework (2011)
3 features of the sa insurance ma...,
Microinsurance,
4 objectives of the national trea...
9
cards
Prudential Standard FSI 1 (Framework for Financial Soundness of Insurers)
Roles and responsibilities of the...,
Role and responsibilities of the ...,
Role and responsibility of an ins...
22
cards
Prudential Standard FSI 2 (Valuation of Assets, Liabilities and Eligible Own Funds)
Key principles when valuing asset...,
Consistency with ifrs,
In instances where valuation unde...
6
cards
Prudential Standard FSI 2.1 (Valuation of Assets and Liabilities Other than Technical Provisions)
Approval for asset encumbrances,
6 types of assets that should be ...,
Assets leading to possible encumb...
24
cards
Prudential Standard FSI 2.2 (Valuation of Technical Provisions)
Key principles of the standard,
Broad calculation of best estimates,
Broach calculation of the risk ma...
48
cards
Prudential Standard FSI 2.3 (Determination of Eligible Own Funds)
The financial soundness standards...,
The standard set out,
4 key principles and requirements...
30
cards
Prudential Standard FSI 3 (Calculation of the Minimum Capital Requirement)
The mcr is measured as a combinat...,
Mcr linear formula is calibrated ...,
Mcr absolute floor amcr
4
cards
Prudential Standard FSI 4 (Calculation of the SCR Using the Standard Formula)
The scr is designed to ensure,
The risk measure which the src is...,
4 main features of the standardis...
51
cards
Prudential Standard FSI 4.3 (Non-life Underwriting Risk Capital Requirement)
3 components of non life underwri...,
Non life underwriting risk,
Optional adjustment to non life u...
29
cards
Prudential Standard FSI 4.4 (Operational Risk Capital Requirement)
Operational risk,
How is the operational risk capit...,
How is the operational risk capit...
5
cards
Prudential Standard FSI 5 (Calculation of the SCR Using a Full or Partial Internal Model)
5 key requirements to obtain and ...,
Insurers applying to use a partia...,
Model change policy
24
cards
Prudential Standard FSI 6 (Liquidity Risk Assessment)
Liquidity shortfall,
The principle underlying the calc...,
Assets considered to be liquid by...
3
cards
Prudential Standard PDI (Public Disclosures by Insurers)
This standard set out,
5 key requirements of the standard,
Treatment of confidential informa...
11
cards
Prudential Standard GOI 1 (Framework for Governance and Operational Standards for Insurers)
The standards focus on 6 main are...,
6 strong governance arrangements
2
cards
Prudential Standard GOI 2 (Governance of Insurers)
The prudential authoritys minimum...,
Part 1 of chapter 5 of the insura...,
2 critical ingredients of effecti...
4
cards
Prudential Standard GOI 3: Section (14): The Actuarial Function
The responsibilities of an insure...,
The actuarial function is respons...,
The actuarial function is respons...
5
cards
Prudential Standard GOI 3.1 (Own Risk and Solvency Assessment for Insurers)
4 objectives of the orsa,
An insurers orsa policy must addr...,
An orsa must assess
7
cards
Prudential Standard GOI 3.2 (Business Continuity Management - BCM)
Bcm,
Critical business operations,
An insurers bcm framework must at...
8
cards
The National Credit Act, 2005
The national credit act was intro...,
The purpose of the national credi...,
5 types of providers regulated by...
12
cards
ASSA Code of Professional Conduct
The professional promise members ...,
3 principles of professional conduct,
Principles of professional conduc...
5
cards
SA3 (IFoA) Past Papers
Describe the application of contr...,
Describe the legal obligations ba...,
3 circumstances where legally obl...
12
cards
Technical Actuarial Standards
Board for actuarial standards rel...,
The purpose of tas d,
All documentation required by the...
20
cards
Past papers (ASSA)
Possible reasons for deterioratio...,
Considerations for the process of...,
Premium revisions why should past...
158
cards
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Actuarial F203 - General Insurance
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