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.
May 01, 2011 · 2.7 Risk(s)—Individuals or entities covered by financial or personal security systems. 2.8 Risk Characteristics⎯Measurable or observable factors or characteristics that are used to assign each risk to one of the risk classes of a risk classification system. 2.9 Risk Class⎯A set of risks grouped together under a risk classification system.
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