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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Q. Which of the following is not a type of group insurance contracts offered by insurers?

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Q. While determining the extent to which the premium rate could be reduced or increased to reflect the new claim experience of the concerned group, which of the following combination of factors are considered by actuaries?

i. Size of the group
ii. Age of the group members
iii. Occupation of the group members
iv. Number of policy years The options are:

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Q. In which of the following type of group contracts will the additional benefit i.e. the accumulated amount of contributions be payable?

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