- Not applied to banks - Not applied to non life insurance companies - Anyone can confirm otherwise?
Apllies to Life and non Life but not Banks according to secret sauce Along with Asset Valuation reserve requirements for Life and Risk based capital for non life
O.O I thought it applies to endowments and foundations… have I gone mad…?
Re: Prudent Investor Rule Posted by: ng30 (IP Logged) [hide posts from this user] Date: June 1, 2009 08:22PM secret sauce has prudent investor for all but defined benefit pension, which is prudent expert. in the schweser 3 day the prof told us to write, “standards of prudence apply”, because you can’t go wrong there.
it applies to everything except pension plans where a higher version i.e. prudent expert rule is applied… schweser and CFAI has some confusion over this but remember the old rule was is no longer valid and new rule is universal
so will you guys write this for everything but banks? only ask b/c sometimes schweser says, “be prepared to state if xxx not given.”