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QUESTION NO:4
Which of these C-level executives would be a key influencer for the selection of a Solvency II
Compliance Solution?
A. Senior Vice President of Global Sales
B. Chief Marketing Officer
C. Vice President of European Sales
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D. Chief Investment Officer
Answer: C
Explanation:
*Solvency II is an EU legislative programme to be implemented in all 27 Member States, including
the UK. It introduces a new, harmonised EU-wide insurance regulatory regime. The legislation
replaces 13 existing EU insurance directives.
*The Solvency II Directive 2009/138/EC is an EU Directive that codifies and harmonises the EU
insurance regulation. Primarily this concerns the amount of capital that EU insurance companies
must hold to reduce the risk of insolvency.
QUESTION NO:9
Which Solvency II solution supports both Standard and Internal Formulas?
A. IBM Algorithmics Economic Capital and Solvency II: Enterprise Edition
B. IBM Algorithmics Portfolio Construction and Risk Management for Fund Managers
C. IBM Algorithimics Actuarial and Financial Modeler
D. IBM Solvency II Accelerator
Answer: A
Explanation: The Algorithmics Economic Capital and Solvency II solution supports the
development of an internal model and/or a Standard Formula approach.
QUESTION NO:10
What is the appropriate solution for an insurance company, managing its own assets, seeking an
asset focused market risk solution?
A. IBM Algorithmics Portfolio Construction and Risk Management for Fund Managers
B. IBM Solvency II Accelerator
C. IBM Algorithmics Actuarial and Financial Modeler
D. IBM Algorithmics Economic Capital and Solvency II: Enterprise Edition
Answer: A
Explanation: Algorithmics Portfolio Construction and Risk Management for Fund Managers
solution offers an advanced risk framework to optimize portfolio performance and risk oversight
while addressing client and regulatory demands for better reporting in a timely fashion. The
solution is designed in three editions – Reporting, Managed and Installed – to support the
requirements of Fund Managers for both absolute and relative risk, irrespective of their size, level
of sophistication or objectives.
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QUESTION NO:15
What are the most likely organizations to be competing for control of a Solvency II Compliance
Initiative in a large complex insurance company\’?
A. Actuarial Investment, IT, Finance, and Risk
B. Underwriting, Actuarial, Investment, Finance, and Risk
C. European Sales, Underwriting, IT, Finance, and Risk
D. Actuarial, HR, Investment, IT, and Risk
Answer: B
Explanation:
QUESTION NO:2
Which type of global insurance company must comply with the regulations introduced by Solvency
II?
A. European-based Life insurer with GPW of less than 5M Euros
B. A Tokyo-based multi-line insurer with an open market value of more than 100M Euros
C. A London-based multi-line insurer with GPW of 10M Euros
D. A North American based Property and Casualty Insurer with GPW of S10M
2
Answer: C
Explanation:
*Solvency II is an EU legislative programme to be implemented in all 27 Member States, including
the UK. It introduces a new, harmonised EU-wide insurance regulatory regime. The legislation
replaces 13 existing EU insurance directives.
*The Solvency II Directive 2009/138/EC is an EU Directive that codifies and harmonises the EU
insurance regulation. Primarily this concerns the amount of capital that EU insurance companies
must hold to reduce the risk of insolvency.
QUESTION NO:14
Which is the appropriate qualifying question for a prospect for the Pillar II solution?
A. Where do you see the challenges for risk reporting for Solvency II?
B. What are the key risk measures you want from your risk system?
C. How do you plan to define, monitor and report on Risk Objectives, Risk Management
Principals, Risk Appetite, and Assignments of Responsibility?
D. What risk systems are you currently using?
Answer: A
Explanation:
QUESTION NO:6
Which one of the following is the key legislative driver for insurance companies and pension funds
to improve their risk management processes?
A. Basle II
B. Basle III
C. Solvency II
D. Dodd Frank
Answer: D
Explanation: Dodd-Frank:made changes in the American financial regulatory environment that
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affect all federal financial regulatory agencies and almost every part of the nation\’s financial
services industry.
Incorrect:
Not A:Basel II, initially published in June 2004, was intended to create an international standard for
banking regulators to control how much capital banks need to put aside to guard against the types
of financial and operational risks banks (and the whole economy) face.
Not B:Basel III (or the Third Basel Accord) is a global, voluntary regulatory standard on bank
capital adequacy, stress testing and market liquidity risk.
Not C: The Solvency II Directive 2009/138/EC is an EU Directive that codifies and harmonises the
EU insurance regulation.
QUESTION NO:5
Which risk management technique is currently the main motivation for pension funds to acquire
new risk management systems?
A. Operational Risk
B. Liability hedging strategy
C. Corporate counter party risk
D. Sovereign debt risk
Answer: B
Explanation: Pension funds currently face a multitude of challenges and risks. We believe liability
hedging (also known as liability matching) is an effective way to help de-risk a fund.
QUESTION NO:1
Which is the appropriate qualifying question for a prospect for the IBM Algorithmics Actuarial and
Financial Modeler?
A. Are you struggling to adapt your current actuarial models to address new business
requirements?
B. Are you building an internal model for Economic Capital or Solvency II?
C. What are your plans for consolidating input data from various systems\’?
D. What methodology do you use to aggregate market and non-market risk?
Answer: B
Explanation: Algorithmics Actuarial and Financial Modeling provides a range of business benefits,
including:
*Advanced actuarial modeling to undertake the full spectrum of global actuarial calculations, and
address the challenges of ‘real-world’, principles-based modeling.
Supports regulatory compliance including Solvency II and other regimes.
*Scalable modeling and production infrastructure enables full transparency, audit, workflow and
control over the modeling process.
*Critical decision support enables more effective, risk-informed business strategies.
*Helps reduce actuarial costs and optimize ease of use with swift implementation and processing
speeds.
Note:
*Supports regulatory compliance
Enhances confidence with a secure modeling and production environment that supports
compliance across a range of risk-based regulatory and other supervisory regimes, including
Solvency II and IFRS.
QUESTION NO:13
What is the appropriate solution for an insurer seeking a stand alone reporting system for
Solvency I Compliance?
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A. IBM Algorithmics Economic Capital and Solvency II: Compliance and Reporting Edition
B. IBM Algorithmics Economic Capital and Solvency II: Enterprise Edition
C. IBM Solvency II Accelerator
D. IBM OpenPages Operational Risk Management Solution
Answer: A
Explanation:
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