Earn up to 3.6 SOA CPD, CAS CE Credits/Training Hours
Designed for actuaries looking to learn more about DAC as it relates to the Generally Accepted Accounting Principles (GAAP).
Have you ever heard a lot of chatter about DAC and wanted to understand its mechanics in more detail? Are you currently in a role that requires GAAP accounting knowledge but don't have a good handle on DAC?
Designed for beginners, this ACTEX eLearning course will provide you with in-depth knowledge of deferred acquisition costs (DAC) as it relates to the Generally Accepted Accounting Principles (GAAP). Pertaining to Life and/or Annuity companies, the course explains the concepts and principles relating to DAC in including True-Up and Unlocking, Recoverability Loss Recognition Testing, and Controls and Analytics. Instructors Ben Wacker, FSA, MAAA and Jacob McCoy, FSA, MAAA examine and explain specific examples of DAC as it relates to Traditional Products, UL Products, and Investment Products. Attendees will be able to feel conversant about DAC, it's purpose, it's calculation, and its context in financial statements.
2.5 hours of video topics include:
- Introduction to DAC
- DAC for Traditional Products (Includes 4 detailed examples)
- DAC for UL Products (Includes 4 detailed examples)
- True-Up and Unlocking
- DAC for Investment Products (Includes detailed examples)
- Recoverability Loss Recognition Testing
- Controls and Analytics
Participants will also have the opportunity to participate in discussion forums to discuss specific examples and topics with the instructors and other participants.
Who should attend?
- FSAs/ASAs/students with minimal experience in a GAAP context that are interested in learning more about DAC
- Accountants that would like to learn more about DAC
- Actuaries in non-GAAP countries seeking an understanding of GAAP to be more conversant with international colleagues and clien
Instructor Ben Wacker, FSA, MAAA is Chief Actuary at Northstar Financial Ltd. and Co-Founder of ACE Manuals. He has worked in GAAP valuation and pricing roles at three different companies that have sold LTC, traditional, UL, fixed and variable annuities, and fixed indexed annuities. He has also taught GAAP accounting, along with Jacob McCoy, over the past decade for the SOA’s ILA CSP / LFV exams.
Instructor Jacob McCoy, FSA, MAAA is Co-Founder of ACE Manuals. He has worked in insurance pricing roles in both individual and group insurance. He has also taught GAAP accounting, over the past decade for the SOA’s ILA CSP / LFV exams.
Login credentials for this course will be distributed via email within 1-2 business days of your purchase.
You will have access to the course for a total of 180 days from the date of enrollment.
Special bulk pricing, site licenses, and discounts for students and regulators are available. Contact Support@ActexMadRiver.com for more information.
Participants must agree to the ACTEXeLearning.com Site Policy in order to access this webinar.
This product is not eligible for a refund.