Lay out what an SAO and AOS must contain and explain each piece: the actuary's conclusion on reserve adequacy, the disclosures the opinion must carry, the risk factors specific to the company, and who is entitled to rely on each document.

Free CAS Exam 6-U.S. (Regulation and Financial Reporting) lesson in Financial Reporting, Taxation, and Professional Responsibilities of the Actuary. 21 min read, ~3,108 words.

The SAO is public and filed with the annual statement in every state; the AOS is confidential and filed with the domiciliary regulator. The SAO has four sections: Identification, Scope, Opinion, and Relevant Comments. The Appointed Actuary must be a Qualified Actuary appointed by (or authorized by) the board of...

What this lesson covers

• Content
• Example 1
• Example 2
• Common Mistakes
• Check Your Understanding
• Exam Shortcuts

Learning objectives

• C8

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