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IFRS 17 assessment to find the most suitable candidates with IFRS 17 skills

Mercer Mettl's IFRS 17 assessment lets you test a candidate's knowledge on the International Financial Reporting Standard published by the International Accounting Standards Board (IASB). It assesses the candidate's ability to apply the key IFRS 17 principles and understand fundamental principles such as CSM, Risk Adjustment and Insurance margin.

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Inside This Assessment

The IFRS 17 assessment from Mercer| Mettl is intended to thoroughly assess a candidates' knowledge on the International Financial Reporting Standard  published by the International Accounting Standards Board (IASB). This test also evaluates a candidate's knowledge of applying IFRS 17 principles and reviewing contractual agreements to assess criteria for a financial instrument and insurance contract classifications, thus making it easier to evaluate and hire candidates for suitable roles.

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 far simpler insurance contracts. In addition, the test helps in assessing whether candidates are aware of the new principles and how they differ from the previous ones.

Designed by subject matter experts, Mercer| Mettl's IFRS 17 test helps identify those candidates who demonstrate an ability to evaluate financial transactions in line with IFRS 17 principles. It also assesses the ability to grasp and master key principles such as CSM, Risk Adjustment and Insurance margin. The skills of the candidate are evaluated on three levels - basic, intermediate and advanced. The IFRS 17 test contains 16 questions to be completed in 30 minutes

The candidates who perform well in this test can:

  • Understand IFRS 17 mechanics and the main changes deriving from its application
  • Apply knowledge of measurement models for participating and non participating insurance contracts
  • Apply understanding of crucial principles of IFRS 17, and main gaps from existing practices

Mercer| Mettl's IFRS 17 assessment test helps to screen candidates who possess the following skills:

  • Knowledge of the principles for recognition, measurement, presentation and disclosure of insurance contracts issued
  • Knowledge of how IFRS 17 provide users of accounts with the information they need to meaningfully understand the insurer's financial position, performance and risk exposure
  • Understanding of how IFRS 17 applies to issued insurance and reinsurance contracts that are issued by an entity

Key profiles this IFRS 17 test is used for:

  • Insurance Agent
  • Insurance Advisor
  • Financial Reporting Manager

SKILL LIBRARY

This Assessment is a part of following Skills Libraries

IFRS 17 Competency Framework

Get a detailed look inside the test

Competency Under Scanner

IFRS 17

Use this IFRS 17 assessment to test candidates' ability to evaluate financial transactions according to IFRS 17 principles and understand such key principles as CSM, risk adjustment and insurance margin.

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Step 3: Test View

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Step 4: Insightful Report

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Frequently Asked Questions (FAQs)

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.

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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