Q. Which occupation class may include skilled craftsmen and tradesmen whose duties involve only light manual work?

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Q. Which occupation class may include auto and auto-related manufacturing, assembly, service and repair workers, along with farmers and long and short haul truck drivers?

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Q. How is the pure risk premium calculated for a group?

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Q. What does the gross premium include?

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Q. How are expenses handled in the calculation of gross premium for group insurance?

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Q. What is the first step in premium calculations?

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Q. How is the gross premium calculated?

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Q. Which of the following is NOT considered when handling expenses for group insurance?

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Q. How might expenses be expressed in group insurance?

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Q. In what way do expense loadings typically vary with group size?

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Q. What might a new insurance company do with a large part of its expenses?

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Q. What is one of the challenges in projecting group business growth for new insurance companies?

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Q. How are commissions typically structured in insurance?

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Q. What is the overriding principle regarding commission rates in insurance?

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Q. How is stamp duty accounted for in insurance plans?

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Q. What is the purpose of the risk and profit load in insurance premium calculations?

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Q. What factors influence the required return in insurance?

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Q. Why are group life insurance rates on an annual renewable basis usually not guaranteed for more than a single year?

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Q. What is the purpose of retrospective experience rating or profit sharing in group insurance?

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Q. What does prospective experience rating in group insurance involve?

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