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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Q. How is mortality rate defined?

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Q. What does morbidity rate refer to?

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Q. What are the key factors considered in choosing mortality or morbidity rates?

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Q. What is the significance of adjusting standard table rates in insurance?

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Q. What is the main objective of experience analysis in insurance?

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Q. What is the importance of data quality in experience analysis?

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Q. How is the credibility factor used in deriving mortality or morbidity assumptions?

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Q. What is the primary method of controlling mortality or morbidity risk in insurance?

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Q. An insurance company sells 1000 policies and it expects 5 claims. The total amount of claims is Rs. 2,50,000/-. If the period of cover is one year and if the company wants its total income to be equal to the total outgo, what premium should the company charge from each of those 1000 policyholders?

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