Question

What should an insurer consider regarding similar products available in other markets?

a.

Replicating the product entirely

b.

Ignoring their existence

c.

Disclosing the general structure and regulations

d.

Patenting the product design

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (c).Disclosing the general structure and regulations Explanation:An insurer should disclose the general structure of similar products available elsewhere in other markets, including valuation requirements, market conducts, and specific regulations, according to the regulations.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What should an insurer consider regarding similar products available in other markets?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What is the revival period for a discontinued policy due to non-payment of premium?

View solution

Q. What does the lock-in period refer to?

View solution

Q. How should charges be structured in linked insurance products during the lock-in period?

View solution

Q. What is the Premium Allocation Charge in linked insurance products?

View solution

Q. How is the Fund Management Charge (FMC) calculated in unit linked products?

View solution

Q. What does the Guarantee Charge represent in unit linked products?

View solution

Q. What does the Policy Administration Charge represent?

View solution

Q. When is the Surrender Charge or Discontinuance charge levied?

View solution

Q. What is the Switching Charge in unit linked products?

View solution

Q. What does the Mortality/Morbidity charge represent?

View solution

Q. What should the mortality/morbidity charge table reflect?

View solution

Q. What is the purpose of the Rider charge?

View solution

Q. What should the rider charge reflect?

View solution

Q. When is the Partial withdrawal charge levied?

View solution

Q. When is the Miscellaneous charge levied?

View solution

Q. What is the limitation on charges for unit linked products?

View solution

Q. What is the cap on Fund Management Charges for each segregated fund?

View solution

Q. What is the purpose of the Reduction in Yield requirement for linked and variable insurance products?

View solution

Q. What is the maximum allowable net reduction in yield at maturity for policies with a term of more than 10 years?

View solution

Q. What are non-negative claw-back additions in unit linked products?

View solution
View All MCQs on IC 92 Actuarial Aspects of Product Development

Recommended Subjects

Are you eager to expand your knowledge beyond IC 92 Actuarial Aspects of Product Development? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!

Heat Transfer

Explore the fascinating world of heat transfer with our Heat Transfer category....

IC 92 Actuarial Aspects of Product Development

Sharpen your understanding of actuarial principles in product development with our...

Mechanical Engineering

Explore the world of Mechanical Engineering with our specialized category. Dive into...

Biochemistry

Delve into the intricate world of Biochemistry with our Biochemistry category....

Genetic Engineering

Unlock the potential of Genetic Engineering with our dedicated category. Explore gene...

IC 89 Management Accounting

Boost your preparation for the IC 89 Management Accounting exam with our extensive...

Renewable Energy

Explore the sustainable future of energy with our Renewable Energy category. Dive...

Total Quality Management

Enhance your understanding of quality management with our Total Quality Management...

Electronics and Communication Engineering

Explore the dynamic field of Electronics and Communication Engineering with our...