Life and Health Qualifications Seminar
November 9-12, 2009
Arlington, Va.
SAO standards
If an actuary wishes to issue an SAO, he or she must, among other requirements, “[b]e knowledgeable, through examination or documented professional development, of the Law (i.e., statutes, regulations, judicial decisions, and other statements of legally binding authority) applicable to the Statement of Actuarial Opinion.”
To meet the additional Specific Qualification Standard, which applies to reserve opinions for the NAIC Annual Statement Blanks, an actuary must obtain, through examination or alternative education, specific knowledge in the following topical
areas as well:
Life and A&H (Blue) Blank
- • Policy forms and coverages;
- Investments and valuations of assets, and the relationship between cash flows
from assets and related liabilities;
- Dividends and reinsurance;
- Statutory insurance accounting;
- Valuation of liabilities; and
- Valuation and nonforfeiture laws.
Health (Orange) Blank
- Principles of insurance and underwriting;
- Principles of ratemaking;
- Statutory insurance accounting and expense analysis;
- Premium, loss, expense, and contingency reserves; and
- Social insurance.
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