Q. How does the lack of historical data affect the riskiness of a product design?

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Q. Why do high guarantees contribute to the riskiness of a product?

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Q. How do policyholder options impact the riskiness of a product?

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Q. What effect do high overhead costs have on the riskiness of a product?

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Q. How does the complexity of design impact the riskiness of a product?

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Q. Why does targeting an untested market contribute to the riskiness of a product?

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Q. How is the risk discount rate determined for different products?

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Q. What is the relationship between the risk discount rate and the risk-free rate?

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Q. How should the risk discount rates for different products be determined?

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Q. What is the purpose of profit criteria in pricing a product?

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Q. How does the gross premium valuation method calculate reserves for life insurance liabilities?

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Q. Which method is typically used for calculating reserves of life insurance liabilities in India?

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Q. When calculating reserves using the gross premium valuation method, which cashflows are considered?

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Q. How are reserves calculated for life insurance policies?

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Q. What is the purpose of the "Margin for adverse deviation" (MAD) used in reserving?

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Q. Why are the assumptions used for reserving exercises more prudent compared to those used for pricing?

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Q. What is the role of the Margin for Adverse Deviation (MAD) in reserving for life insurance liabilities?

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Q. Which regulatory bodies provide guidelines for reserving practices in the Indian insurance industry?

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Q. What is the purpose of APS-7 issued by the Institute of Actuaries of India (IAI)?

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Q. What are margins used for in insurance pricing and reserving?

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