Question

What factor influences the mortality experience of the insured population based on the target market for the contract?

a.

Economic conditions

b.

Underwriting controls

c.

Distribution channels

d.

Reinsurance terms

Answer: (c).Distribution channels Explanation:The mortality experience of the insured population is influenced by the target market for the contract, which depends on factors such as distribution channels.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What factor influences the mortality experience of the insured population based on the target market for the contract?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. How does the type of product affect underwriting controls?

Q. What is the purpose of underwriting controls in the insurance industry?

Q. How does strict underwriting benefit customers?

Q. What additional benefit is gained with strict underwriting controls?

Q. What factor influences the decision on mortality rates used by insurers?

Q. Why is it important to assess the expected change in experience over time?

Q. How often are historical investigations typically conducted?

Q. Which type of insurance contract is considered to have higher mortality risk?

Q. Why are long-term policies considered riskier in terms of mortality rates?

Q. Why is the available mortality experience within the company or industry important for determining mortality rates?

Q. What role do reinsurer's rates play in determining mortality rates?

Q. Why is past experience of mortality rates in the economy important?

Q. How do overseas operations of an insurer impact the determination of mortality rates?

Q. What operational risk is associated with the acceptance of claims?

Q. What is the primary purpose of using a standard table for mortality rates?

Q. Why might a company adjust mortality rates from a standard table?

Q. What alternative data source can be used if a company lacks adequate mortality experience?

Q. Why is it important to avoid using very old data for mortality rate adjustments?

Q. What is the typical period of data used for mortality investigations?

Q. Why might data be classified into similar groups during analysis?

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!