CAS Exam 6C Spring 2018, Question 27
Study guide: Exam 6C
The following information is available:
- XYZ is a federally licensed insurance company.
- All actuaries are FCIAs in good standing.
| Actuary | Information available about the actuary |
|---|---|
| A | A works at the same consulting firm as the AA of XYZ. |
| B | B is newly hired at a consulting firm and previously worked exclusively for one Canadian insurance company in the past fifteen years. |
| C | C worked at XYZ for ten years, and left one year ago to join a consulting firm to act as AA for five different Canadian insurance companies. |
Part a (0.75 points)
Justify whether actuaries A, B and C are eligible to serve as the external peer reviewer for company XYZ.
Part b (1 point)
Identify four duties of the external peer reviewer.
Part c (1 point)
Compare and contrast external peer review and external audit work.
Part d (0.5 points)
Briefly describe the disclosure requirement of the external peer review work in the AA report.
Answer this question and see the worked solution