CAS Exam 6C Spring 2015, Question 32
Study guide: Exam 6C
A federally regulated property and casualty insurance company's Appointed Actuary (AA) suddenly chooses to retire near the end of the financial year. The Chief Financial Officer (CFO) who is a Fellow of the Canadian Institute of Actuaries (FCIA) immediately begins the year-end valuation process and starts preparing the Appointed Actuary's report.
Part a (1 point)
Fully describe the requirements for the CFO to legally become the AA.
Part b (0.5 points)
Discuss whether or not the regulator should accept the new appointment.
Part c (1 point)
Identify four disclosures required by an AA in his report as a consequence of being newly appointed.
Part d (0.75 points)
Other than resigning, identify three reasons for which a person could cease to hold the office of the actuary of a company.
Answer this question and see the worked solution