Description: We frequently are asked what to do when a company has reported aggregate estimates of tax reserves on the tax return, instead of tax reserves computed precisely according to the requirements of the Internal Revenue Code, and the IRS has challenged the reserve deduction. Other sections of this article also cover IRS rulings on the treatment and valuation of an insurance company stock purchased as an asset acquisition and COLI life insurance.

Description: The Society of Actuaries has announced the first recipients of the J. Henry Smith Scholarship Fund, set up for women and minority actuarial students. Receiving awards are: Vincent Torres, Chicago, Illinois; Kathleen Knight, Austin, Texas ; Shiela Chappell, Philadelphia, Pennsylvania; and Monique Tremblay, St. Cesarie, Quebec. From The Actuary, October 1976, Vol. 10, No. 8.

Description: This discussion is about how are computers being used for Underwriting of individual policies mortality and morbidity studies, including the derivation of exposures, analysis of claims, etc. From Transactions of Society of Actuaries 1964, Vol. 16 Pt. 2

Description: This is a panel discussion on the mortality of smokers and nonsmokers. From Transactions of Society of Actuaries 1964, Vol. 16 Pt. 2

Description: Since spring, with the marked improvement in the payments deficit of the United States, the climate for discussion of reform of the world currency systems has become much more favorable. Perhaps our subject today should more fittingly be entitled Monetary Reform for the World Economy. Discussion focuses on the steps that can be taken to insure that enough liquidity will be provided to finance expanding world trade while maintaining stable price levels, and on how reform measures can be drawn to avoid the danger that additional liquidity will encourage countries to run chronic deficits.

Description: Discussion of the extent to which current SOA studies are useful and in what ways and their shortcomings.

Description: This is a panel discussion about social insurance programs for health care in Canada and the United States and new developments in benefits and costs of the programs.

Description: The net premium for insurance for expected loss in excess of a retention limit may be small, but the resulting variance of excess losses produces a standard deviation several times that of the premium. The purpose of this paper is to give a derivation and evaluation of the standard deviation of the excess losses.

Description: This paper suggests the reasons why an actuary should play a role in the over-all investment policy of a 'new' company, defined as less than 5 years old, and what some of those duties should be. The paper gives an overview of the types of investments available to an insurance company and the considerations for each relative to a new company.

Description: These discussions at the 1967 New York and New Orleans Regional Meetings are about methods of allocating investment income using the investment year method and the treatment of unrealized capital gains.