Q. What disadvantage might an insurer face if it fails to incorporate a group's positive past experience into its premium?

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Q. Why is it important for insurers to correctly assess the extent to which a group's past experience should be reflected in the premium?

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Q. Why might the assumption of independence of claims be less valid for group insurance compared to individual life insurance?

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Q. What factor should be considered when calculating exposures for group insurance?

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Q. Why is it important to establish the validity of past claims experience in group insurance?

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Q. What is the credibility factor denoted by in group insurance?

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Q. How are premiums typically paid in group insurance?

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Q. What is the primary objective for an insurer during group business renewal?

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Q. What is one challenge specific to group renewals for insurers?

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Q. What factors determine the level of analysis required for renewing a group insurance policy?

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Q. What is the significance of the A/E ratio in the renewal analysis of a group insurance policy?

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Q. Why is it important to consider statistical fluctuations when analyzing the claims experience of small groups?

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Q. What challenge is associated with estimating reserve requirements in group insurance renewal?

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Q. What aspect of the group scheme renewal process allows insurers to review their internal processes?

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Q. Which statement best defines a group insurance contract?

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Q. What is the primary purpose of offering prospective experience rating in group insurance?

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Q. Which feature of group insurance helps in reducing significant costs and is a time-saving feature?

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Q. What is the main attraction of group insurance?

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Q. What term refers to allowing a group to participate in the good or adverse claims experience it will have at the end of the insurance term?

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Q. Which of the following can be treated as groups for the purpose of insurance contract?

i. A group of persons residing in a housing colony—where some of them are tenants.
ii. A trade union of taxi drivers in a city, e.g. Mumbai.
iii. The members of a professional group, such as Institute of Chartered Accountants of India.
iv. The parents of students of a school.

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