Q. What does the design of an insurance product primarily encompass?

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Q. Which of the following is an example of a guarantee offered in an insurance product?

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Q. Why is new product design required in the insurance market?

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Q. What could lead to an awareness of a gap in the existing product range?

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Q. Which factor might result in inadequate premium rates for non-linked products?

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Q. What is the primary factor influencing product design?

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Q. Why is profitability considered an important factor in product design?

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Q. In which type of design is sensitivity of profit particularly relevant?

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Q. How can sensitivity of profitability to high withdrawal rates be reduced?

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Q. What role does marketability play in product design?

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Q. How does analysis of the target market influence product design simplicity?

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Q. Why is competitiveness an important factor in product design?

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Q. How does the level of risk influence contract design?

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Q. What is one way to mitigate the risk of higher surrenders or lapses in contract design?

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Q. How do administration systems influence product design?

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Q. Why is consistency with other products important in product design?

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Q. How do regulatory requirements impact product design?

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Q. What additional factors should product design consider to achieve higher sales?

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Q. Why is proper communication to a lay customer considered a main issue in product design?

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Q. What is an important consideration in identifying the target population for insurance products?

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