Q. How is the credibility factor calculated in mortality or morbidity analysis?

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Q. What does a credibility factor of 0% signify in mortality or morbidity analysis?

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Q. In the formula for finding adjustment factors, what does 'A' represent?

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Q. How does the adjustment factor change with a credibility factor of 100%?

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Q. What is mortality risk primarily concerned with in insurance?

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Q. What is "model" risk in mortality assumption setting?

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Q. How does parameter risk differ from model risk in mortality assumption setting?

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Q. What contributes to parameter risk in mortality assumption setting?

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Q. How does data risk relate to parameter risk in mortality assumption setting?

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Q. What contributes to the "random fluctuations" risk in mortality assumption setting?

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Q. Which type of insurance product would typically have the maximum financial impact of mortality risk?

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Q. What are the main ways of controlling mortality risk in insurance?

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Q. In an established insurance market, what factors contribute to low model and parameter risk?

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Q. What represents a difficult-to-quantify risk in mortality assumption setting?

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Q. What is the primary purpose of underwriting in the context of life insurance?

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Q. What are the two main types of underwriting in life insurance?

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Q. How does reinsurance help insurers manage risk?

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Q. What risk is associated with reinsurance arrangements?

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Q. How does underwriting policy influence mortality or morbidity assumptions in pricing?

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Q. What is the primary purpose of mortality and morbidity rates in insurance?

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