Glossary
This glossary is used in conjunction with the ASOPs listed on this website.
Qualified Actuary
Statements of Actuarial Opinion Regarding Health Insurance Assets and Liabilities
An actuary who meets the qualification requirements set forth by applicable law, regulation, insurance blank instructions or requirements defined by a licensing organization requiring an opinion of health insurance liabilities, and the American Academy of Actuaries’ Qualification Standards for Actuaries Issuing Statements of Opinion in the United States. (ASOP No. 28)
Principle-Based Reserves for Life Products
An actuary who meets the standards set forth in the
Valuation Manual to sign the principle-based reserves actuarial report. (Principle-Based Reserves for Life Products)
ASOP No. 28 – Statements of Actuarial Opinion Regarding Health Insurance Liabilities (Proposed Revision)
An actuary who meets the qualification requirements set forth by applicable law, regulation, insurance blank
instructions or requirements defined by a licensing organization requiring an opinion of health insurance liabilities. (Draft Proposed Revision of ASOP No. 28)
Principle-Based Reserves for Life Products (Second Exposure Draft)
An individual who is qualified to sign statements of actuarial opinion required by VM-20 and VM-31 in accordance with the Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States and who meets the requirements specified in the Valuation Manual. (2nd Exposure Draft, Principle-Based Reserves for Life Products)
Standards for Principle-Based Reserves for Life Products
An actuary who meets the standards set forth in the Valuation Manual to sign the PBR Actuarial Report. (Standards for Principle-Based Reserves for Life Products)
Principle-Based Reserves for Life Products (Exposure Draft)
An individual who is qualified to sign the applicable statement of actuarial opinion in accordance with the Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States and who meets the requirements specified in the Valuation Manual.
Principle-Based Reserves for Life Products under the NAIC Valuation Manual
An individual who is qualified to sign the applicable statement of actuarial opinion in accordance with the American Academy of Actuaries qualification standards for actuaries signing such statements and who meets the requirements specified in the Valuation Manual.