Used as a screening tool for Recruitment & Selection:
Mettl's assessment for IFRS 17 lets you test a candidate's knowledge in the International Financial Reporting Standard that was issued by the International Accounting Standards Board. This test also evaluates a candidate's knowledge on how to apply IFRS 17 principles and review contractual agreements for the purpose of assessing criteria for a financial instrument and insurance contract classifications, thus making it easier to evaluate and hire candidates for suitable roles.
What does Assessment for IFRS 17 measure?
This comprehensive functional test has been designed to evaluate a candidate’s ability to understand how IFRS 17 model provides a simplified measurement approach, or premium allocation approach, for simpler insurance contracts. The test helps in assessing whether candidates are aware of the new principles and how they differ from the previous ones. The candidates who do well in this test may be able to:
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Key profiles that the test can be useful for:
This test is suitable for evaluating a candidate's expertise in International Financial Reporting Standard 17 with 3+ years of work experience. This test is useful for professionals in profiles in various roles such as:
|Number of Sections||1|
|Number of Questions||16|
|Test Duration||30 minutes|
NOTE: If required, the test can be provided in other languages as well. Please connect with us at email@example.com for any such requirement.
What is the purpose of IFRS 17?
The objective of IFRS 17 is to provide standard insurance accounting all over the world. This will upgrade comparability and also ensure an increase in transparency. Moreover, this helps provide users of accounts with essential information so that they can effectively understand the insurer's financial orientation, performance, and risk exposure.
Who does IFRS 17 apply to?
IFRS 17 has replaced IFRS 4. It applies to insurance contracts and affects any organization that involves insurance contracts. Such contracts are generally not written by companies outside of the insurance industry. Most listed insurers use IFRS 17 standards.
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