Valuation, Reporting, and Surplus Analysis

Describe the purpose of valuing liabilities for different stakeholders (e.g., management, regulators, investors).

Compare and contrast different valuation bases (e.g., statutory, market-consistent, realistic).

Explain the prospective and retrospective methods for calculating technical provisions.

Define accounting surplus and economic surplus.

Perform an analysis of surplus to identify the sources of profit or loss for a block of business.

Describe the form and content of key actuarial reports (e.g., Actuarial Function Report, Financial Condition Report).