CAS Exam 6C Fall 2014, Question 1
Study guide: Exam 6C
Part a (1 point)
Identify whether the federal regulator, the provincial/state regulator, or both levels of government oversee each of the following roles:
- i. Solvency regulation in Canada
- ii. Solvency regulation in the U.S.
- iii. Rate regulation in Canada
- iv. Rate regulation in the U.S.
Part b (0.75 points)
A number of insurance company insolvencies in the 1980s sparked an interest in federal regulation in the U.S. Identify three actions taken by the National Association of Insurance Commissioners that reduced the pressure to introduce federal regulation.
Part c (0.5 points)
In 1999, the U.S. Congress passed the Gramm-Leach-Bliley Financial Modernization Act. Describe the position of the Act with respect to insurance regulation.
Part d (0.75 points)
Identify and describe one of the two U.S. laws that have been introduced after Gramm-Leach-Bliley that have caused federal encroachment into state regulation.
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