Q. How do the terms "fixed" and "flat" relate to expense assumptions?

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Q. What is the primary purpose of ensuring consistency with industry-wide practices in expense assumptions?

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Q. What is expense inflation?

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Q. How is inflation primarily affected in insurance companies?

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Q. What factors contribute to expense inflation?

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Q. How does expense inflation impact initial expenses?

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Q. Why is it necessary to consider future expense assumptions in pricing contracts?

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Q. Why is it important to estimate the time period for which a new product will be sold in the market?

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Q. How is expense inflation typically incorporated for renewal expenses?

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Q. What must the inflation assumption be consistent with?

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Q. How can expected future rates of inflation be estimated?

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Q. How is inflation expressed when setting expense assumptions?

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Q. What does expense analysis primarily involve?

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Q. Why is it important to consider the time period involved in expense investigation?

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Q. How are total expenses of the past typically categorized?

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Q. What are initial expenses in expense analysis?

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Q. Why is it necessary to adjust expense figures for inflation when looking over several years?

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Q. How are initial expenses, renewal expenses, and termination expenses further split according to?

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Q. How are investment expenses typically expressed?

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Q. In expense analysis, what can be the subdivisions for which the analysis is conducted?

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