IFRS17 is complex and many insurance firms feel there is a lack of understanding and training of this new accounting standard across their organisations.
Legerity IFRS Global Lead Mark Miller challenges you to test your knowledge with our Legerity IFRS17 Intermediate quiz. Then share your results and test your colleagues!
At what stage in the CSM roll forward is interest recognised?
How is the CSM released to the P&L?
What happens to an adjustment to acquisition costs?
What discount rate is used for changes to actuarial assumptions?
What happens to experience variances?
What happens to a loss on a profitable contract that becomes onerous after intial recognition?
What happens to any loss recognised in the P&L for onerous groups?
If an onerous group becomes profitable would we release any CSM in the period?
If a claim occurs as expected what accounts are impacted?
Which of the following cannot be a movement in the risk adjustment?
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