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Free Practice Questions for PAI BA4L — Aspek Aktuaria dalam Asuransi Jiwa

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Key Facts: PAI BA4L — Aspek Aktuaria dalam Asuransi Jiwa Exam

3 hours

BA4L essay examination time

PAI Kurikulum Pendidikan 2024

6 sections

Syllabus sections, each weighted 15–25%

PAI Kurikulum Pendidikan 2024

19 August 2026

Scheduled BA4L sitting (13.30–16.30)

PAI Jadwal, Tempat dan Biaya Ujian

Rp2,000,000

FSAI module fee in the first 2026 registration window

PAI Jadwal, Tempat dan Biaya Ujian

PAI BA4L is the 3-hour essay examination for the life insurance specialty of the FSAI qualification. Its six syllabus sections each carry 15–25%, covering PSAK 117 accounting, reserving, risk-based capital, pricing and profit testing, in-force management and experience studies, and investment and ALM. PAI does not publish a pass mark or question count. These 100 free questions are an independent English-language MCQ study adaptation.

Sample PAI BA4L — Aspek Aktuaria dalam Asuransi Jiwa Practice Questions

Try these sample questions to review concepts for the PAI BA4L — Aspek Aktuaria dalam Asuransi Jiwa exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1In Indonesia, from what date is PSAK 117 Kontrak Asuransi, the adoption of IFRS 17, effective, and which standards does it replace?
A.1 January 2023, replacing PSAK 104 only
B.1 January 2025, replacing PSAK 104, PSAK 328 and PSAK 336
C.1 January 2027, together with IFRS 18
D.1 January 2024, replacing PSAK 408
Explanation: Ikatan Akuntan Indonesia states that PSAK 117 (numbered PSAK 74 before the 2024 renumbering) is effective from 1 January 2025 and replaces PSAK 104, PSAK 328 and PSAK 336, the insurance contract standards formerly numbered PSAK 62, 28 and 36.
2Which contracts are outside the scope of PSAK 117 in Indonesia?
A.Sharia insurance contracts, which are accounted for under PSAK 408
B.Reinsurance contracts held by a conventional life insurer
C.Unit-linked (PAYDI) contracts with significant insurance risk issued by conventional insurers
D.Group term life contracts with a one-year coverage period
Explanation: IAI has stated that PSAK 117 does not apply to sharia insurance contracts, which remain under PSAK 408 Akuntansi Transaksi Asuransi Syariah. Reinsurance contracts held, investment-linked contracts that transfer significant insurance risk and short-term contracts are all within PSAK 117.
3Under the PSAK 117 general measurement model, what makes up the carrying amount of a group of insurance contracts?
A.Unearned premium plus deferred acquisition costs
B.Net premium reserve plus a provision for adverse deviation
C.Surrender values plus incurred claims
D.Fulfilment cash flows (discounted future cash flows plus a risk adjustment for non-financial risk) plus the contractual service margin
Explanation: The general measurement model combines the fulfilment cash flows, meaning the discounted probability-weighted future cash flows plus a risk adjustment for non-financial risk, with the contractual service margin (CSM), the unearned profit. POJK 26 of 2025 likewise requires insurance contract liabilities to include fulfilment cash flows, the risk adjustment and the CSM.
4At initial recognition, a group of life contracts has a present value of future cash inflows of Rp1,000 billion, a present value of future cash outflows of Rp850 billion and a risk adjustment for non-financial risk of Rp60 billion. Under the PSAK 117 general measurement model, what is the contractual service margin?
A.Rp150 billion
B.Rp60 billion
C.Rp90 billion
D.Nil, with a day-one gain of Rp90 billion
Explanation: The fulfilment cash flows are 850 + 60 − 1,000 = −90, a net inflow. The CSM is set at Rp90 billion so that no gain arises on initial recognition, and the group's carrying amount starts at zero.
5At initial recognition, the fulfilment cash flows of a group of contracts are a net outflow of Rp40 billion. How is the group accounted for under PSAK 117?
A.The CSM is zero and a loss of Rp40 billion is recognised in profit or loss immediately
B.A negative CSM of Rp40 billion is recognised and released over the coverage period
C.The loss is deferred as an asset and amortised over the premium-paying period
D.The contracts are excluded from measurement until they become profitable
Explanation: A group is onerous when its fulfilment cash flows are a net outflow at initial recognition. The CSM cannot be negative, so the Rp40 billion shortfall is recognised as a loss immediately and tracked through a loss component.
6When may an insurer use the simplified premium allocation approach (PAA) under PSAK 117?
A.Only for sharia insurance contracts
B.For any contract whose premiums are paid annually
C.Only when the group of contracts is onerous
D.When the coverage period of each contract is one year or less, or when the PAA would not differ materially from the general measurement model
Explanation: The PAA is an optional simplification for groups where each contract's coverage period is one year or less, or where the insurer reasonably expects the result not to differ materially from the general measurement model. It is typical for short-term group life and health business.
7For which contracts does PSAK 117 require the variable fee approach (VFA)?
A.All one-year group health contracts
B.Contracts with direct participation features, where the policyholder shares substantially in clearly identified underlying items
C.Reinsurance contracts held
D.Contracts that contain no investment component
Explanation: The VFA applies to insurance contracts with direct participation features: the policyholder participates in a clearly identified pool of underlying items, is expected to receive a substantial share of their returns, and a substantial part of the payout varies with them. Changes in the insurer's share of the underlying items adjust the CSM. Many unit-linked and with-profits contracts meet these conditions.
8Before release for the year, a group's contractual service margin is Rp900 million. Coverage units provided in the current period are 100, and coverage units expected in future periods total 200. How much CSM is recognised in insurance revenue this period?
A.Rp450 million
B.Rp900 million
C.Rp300 million
D.Rp600 million
Explanation: The CSM is released in proportion to the coverage units provided in the period relative to current plus expected future units: 900 × 100/(100 + 200) = Rp300 million. The remaining Rp600 million is carried forward.
9How does PSAK 117 require insurance contracts to be grouped for measurement?
A.By distribution channel only
B.By policyholder age band, regardless of profitability
C.Into a single company-wide group so that profitable and onerous contracts offset
D.Into portfolios of similar risks managed together, split by expected profitability at initial recognition and into annual cohorts
Explanation: Contracts are first grouped into portfolios with similar risks managed together. Each portfolio is split into groups that are onerous at initial recognition, have no significant possibility of becoming onerous, and the remainder. Contracts issued more than one year apart cannot be in the same group.
10An endowment policy pays at least its surrender value whether the policyholder lapses, dies or survives to maturity. Under PSAK 117, how is that amount repaid in all circumstances treated?
A.As an investment component excluded from insurance revenue and insurance service expenses
B.As insurance revenue when the premium is received
C.As an insurance acquisition cash flow
D.As an addition to the contractual service margin
Explanation: An investment component is an amount the contract requires the insurer to repay whether or not an insured event occurs. It remains in the measurement of the liability but is excluded from insurance revenue and insurance service expenses, so revenue reflects only the insurance service.

About the PAI BA4L — Aspek Aktuaria dalam Asuransi Jiwa Exam

BA4L Aspek Aktuaria dalam Asuransi Jiwa (formerly F31) is the life insurance specialty module of the Fellow of the Society of Actuaries of Indonesia (FSAI) examinations run by Persatuan Aktuaris Indonesia (PAI). Under the 2024 syllabus it is a 3-hour essay examination on life insurer accounting and financial statements, valuation, capital management, product design and pricing, product management, and asset and portfolio management. This free bank is an independent English-language MCQ study adaptation, not an official translation or simulation of the Indonesian essay paper.

Exam sponsor: Persatuan Aktuaris Indonesia (PAI). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

A 3-hour essay examination covering six sections, each weighted 15–25%: accounting and financial statements, valuation, financial and capital management, product design, pricing and assumptions, product management, and asset and portfolio management. In 2026 PAI scheduled BA4L for 19 August 2026, 13.30–16.30, in Jakarta, Bandung, Yogyakarta and Surabaya.

Time Limit

3 hours (180 minutes)

Passing Score

Not published by PAI

Exam / Certification Fees

Rp2,000,000 (registration 6–20 July 2026) or Rp2,500,000 (21–24 July 2026)

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

16 of 100 questions

Accounting and Financial Statements

PSAK 117 scope, general measurement model, CSM, onerous contracts, PAA and VFA, acquisition cash flows, reinsurance held, PAYDI custody and reserve roll-forward review.

17 of 100 questions

Valuation

Prospective and retrospective reserves, Zillmer and FPT, premium reserves on central estimates plus risk margin under POJK 26 of 2025, claim and IBNR reserves, UPR, discount rates and PAYDI reserves.

17 of 100 questions

Financial and Capital Management

Solvency level and internal target, MMBR risk components and PAYDI add-on, Dana Jaminan, factor-based risk charges, diversification, new business strain and capital actions.

17 of 100 questions

Product Design, Pricing and Assumptions

Term and endowment design, PAYDI criteria and minimum sums assured, net and gross premiums, profit signatures, NPV, profit margin, IRR, underwriting and guarantee costs.

16 of 100 questions

Product Management

Non-guaranteed elements, A/E analysis, exposure calculation, lapse and anti-selection, PAYDI conduct rules on waiting periods, premium holidays, illustrations and charges, and credibility-weighted assumptions.

17 of 100 questions

Asset and Portfolio Management

Portfolio management process, Redington immunisation, duration and effective duration, cash-flow matching, surplus sensitivity, liquidity stress, attribution, total return, yield measures and Sharpe ratio.

Preparing for the PAI BA4L — Aspek Aktuaria dalam Asuransi Jiwa Exam

What You Need to Know

  • Passing score: Not published by PAI
  • Assessment: A 3-hour essay examination covering six sections, each weighted 15–25%: accounting and financial statements, valuation, financial and capital management, product design, pricing and assumptions, product management, and asset and portfolio management. In 2026 PAI scheduled BA4L for 19 August 2026, 13.30–16.30, in Jakarta, Bandung, Yogyakarta and Surabaya.
  • Time limit: 3 hours (180 minutes)
  • Exam / certification fees: Rp2,000,000 (registration 6–20 July 2026) or Rp2,500,000 (21–24 July 2026) Official sources

Using Our Practice Resources

  • Work through all 100 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

PAI BA4L — Aspek Aktuaria dalam Asuransi Jiwa: Suggested Study Strategy

1Practise explaining answers in writing: the real exam is essay-based, so use each MCQ explanation as a prompt to write a short justification of your own.
2Learn the PSAK 117 building blocks (fulfilment cash flows, risk adjustment and CSM) and how they differ from statutory technical reserves under POJK 26 of 2025.
3Be precise on solvency rules: a solvency level of at least 100% of MMBR at all times and an internal target of at least 120%, plus the Dana Jaminan formula.
4Work profit-testing and ALM calculations by hand, including profit signatures, NPV, effective duration and surplus sensitivity.

Frequently Asked Questions

What does PAI BA4L cover?

BA4L covers actuarial work in life insurance under six sections of PAI's 2024 syllabus: accounting and financial statements, valuation, financial and capital management, product design and pricing, product management, and asset and portfolio management. Reference material includes Indonesian insurance regulations and OJK rules, PSAK, and texts on statutory valuation, life insurance products and finance, and investment management.

What is the BA4L exam format?

PAI's syllabus describes a 3-hour examination with essay questions. PAI does not publish a fixed number of questions or a numeric pass mark.

How much does BA4L cost and when is it held in 2026?

PAI lists FSAI-level module fees of Rp2,000,000 for registration from 6 to 20 July 2026 and Rp2,500,000 from 21 to 24 July 2026. BA4L is scheduled for 19 August 2026, 13.30–16.30.

Where does BA4L fit in the FSAI qualification?

FSAI requires all ASAI-level exams, BA1, BA2, BA3, PM2 and PM3, plus at least one specialty module: BA4L for life insurance, BA4R for pensions, BA4G for general insurance or BA4H for health insurance. PAI does not require modules to be taken in order.

Are these official PAI exam questions?

No. This is independent practice by OpenExamPrep in English using multiple-choice questions. It is not an official translation of PAI material, does not simulate the essay format, and is not affiliated with or endorsed by PAI.