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. Introduction 3. Considerations in the Selection of Risk Characteristics 3. Relationship of Risk Characteristics and Expected Outcomes 3.
May 01, 2011 · The terms below are defined for use in this actuarial standard of practice. 2.1 Advice—An actuary’s communication or other work product in oral, written, or electronic form setting forth the actuary’s professional opinion or recommendations concerning work that falls within the scope of this standard.
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