Transcription of Risk Classification (for All Practice Areas)
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Risk Classification (for All Practice Areas)
Actuarial Standard of Practice No. 12. Risk Classification (for All Practice Areas). Revised Edition Developed by the Task Force to Revise ASOP No. 12 of the General Committee of the Actuarial standards Board Adopted by the Actuarial standards Board December 2005. Updated for Deviation Language Effective May 1, 2011. (Doc. No. 132). ASOP No. 12 December 2005. TABLE OF CONTENTS. Transmittal Memorandum iv STANDARD OF Practice . Section 1. Purpose, Scope, Cross References, and Effective Date 1. Purpose 1. Scope 1. Cross References 1. Effective Date 2. Section 2. Definitions 2. Advice 2. Adverse Selection 2. Credibility 2. Financial or Personal Security System 2. Homogeneity 2. Practical 2. Risk(s) 2. Risk Characteristics 2. Risk Class 2. Risk Classification System 3. Section 3. Analysis of Issues and Recommended practices 3.
May 01, 2011 · classification system used in connection with a specific financial or personal security system. Throughout this standard, any reference to performing professional services with respect to designing, reviewing, or changing a risk classification system also includes giving advice with respect to that risk classification system.
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