Question

What is considered an innovative product according to the regulations?

a.

Any product that meets customer needs

b.

Any product not previously approved by the Authority

c.

Any product with complex features

d.

Any product resulting in increased infrastructure costs

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (b).Any product not previously approved by the Authority Explanation:An innovative product, according to the regulations, is any product design that has not been previously approved by the Authority.

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Q. What is considered an innovative product according to the regulations?
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