In looking at previous exam problems, I've seen an inconsistent approach for whether or not to include UEP reserves, loss reserves, or both when determining the base for necessary surplus as part of Feldblum IRR problems.
Given that this history is inconsistent, what would you do when faced with a problem where you need to determine the required surplus, and the exam problem was unclear?
I suppose I go with whatever I think is easiest in the absence of instruction, like "Assume surplus is only needed to support UEP reserve", but wanted to know what others think.
What do you guys think?
Cheers,
Gareth Keenan
Given that this history is inconsistent, what would you do when faced with a problem where you need to determine the required surplus, and the exam problem was unclear?
I suppose I go with whatever I think is easiest in the absence of instruction, like "Assume surplus is only needed to support UEP reserve", but wanted to know what others think.
What do you guys think?
Cheers,
Gareth Keenan
Feldblum IRR reserves to UEP or not to UEP
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