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Oracle® Insurance Rules Palette 9.4.0.0 E18894_01

# Rolling Valuation

Valuation records are written to the database as the net asset values become available based on guaranteed price dates. OIPA can track the rolling valuation process by recording the system date when an individual record is written (Order Date) as well as shadowed (Shadow Order Date). The Shadow Order Date is a reversal date and is the same as the ActiveToDate of the parent AsActivity or related AsValuation record.

While these records are written as soon as their value is determined along with the rolling valuation process, accounting (Chart of Accounts) is only written when the valuation is active.

A math variable is configured in each activity to hold the number of offset days. The value of the math variable can be dynamically set in the configuration through any calculation process including retrieval from the plan fields.

## Exchange Dates and Guaranteed Price Dates

Exchange Dates and Guaranteed Price Dates are calculated using the MathStatement function FindNextExchangeDate. OIPA will move through a series of steps to determine these dates and arrive at an Actual Price Date. The steps are described below.

1. OIPA compares the Activity Effective Date with the Market Maker's calendar to make sure the date is a business day. Two scenarios can occur:
   - If it IS a business day, then OIPA will add any offset business days to the date as identified in the Input parameter of the MathStatement function.
   - If it is NOT a business day, then OIPA will advance to the next business day for the calendar and then add any offset business days to that date.
2. The date OIPA calculated in step one is the Exchange Date for the activity. OIPA compares the Exchange Date to the Fund's calendar to make sure it is a business day.
   - If it IS a business day, then OIPA will add any offset business days to the date as defined on the AsPriceOffset entry for that calendar or fund if a fund override exists.
   - If it is NOT a business day, then OIPA will advance to the next business day for that calendar and then add any offset business days to that date.
3. The date OIPA calculated in step 2 is the Guaranteed Price Date for the fund. These three steps are repeated for each fund in the activity.
4. The Actual Price is the next price available for a fund on or after the Guaranteed Price Date.

## Activity Advances to Active Status

The activity will remain in NUVPending status while the above steps are performed by OIPA when all the actual prices are known for all the funds in the activity.

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