In 1993 and prior the answer WAS "false". However, in years 1994 and
subsequent the answer would be "true". This is because prior to 1994
ALL of schedule P was net of tabular, gross of non-tabular. But
beginning with the 1994 statement, while part 1 remained net of tabular,
gross of non-tabular, parts 2 and 4 switched to being gross of both
tabular and non-tabular discounts.
Bottom line: You are right. The answer as stated is also right.
>----------
>From: Kathryn E Herzog[SMTP:BUSFRIEND@prodigy.net]
>Sent: Sunday, August 09, 1998 12:24 AM
>To: study group 7
>Subject: Sch P tabular vs. non-tabular
>
><<File: ATT00020.html>>
>Question #23 from the 1993 exam states:
>
>(T or F) The amount of tabular discount included in a company's reserves by
>line and by accident year can be determined from the information in Schedule
>P.
>
>The answer is apparently False, but I don't see why since Part 1 is net of
>tabular discount and gross of non-tabular, and Parts 2 & 4 are gross of both
>tabular and non-tabular discounts. Wouldn't the tabular discount be
>available by subtraction?
>