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Kumien Senekal
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Decks in this class (25)
Chapter 9 & 10 - With Profit Surplus Distribution
7 points a company needs to consi...,
Name the 3 components that will i...,
3 experience items that are inclu...
3
cards
Chapter 1-4 - Life Insurance Products
List the stages of the product cy...,
What is the sum at risk,
Capital requirements will depend ...
4
cards
Chapter 5 - Income Protection
How can over insurance arise in i...,
Policy conditions should aim to 3,
Robust product designs that can a...
9
cards
Chapter 6 - Critical Illness
Needs met by ci policy 6,
2 main aspects of simplicity of a...,
3 characteristics of an illness c...
8
cards
Chapter 7 - Long Term Care
The costs under ltci can be divid...,
Methods of funding ltci 4,
Adl s used in ltci 6
6
cards
Chapter 8 - Asset Shares
Deductions that are made for asse...,
Define earned asset share,
Uses of asset share 4
3
cards
Chapter 9 & 10 - With Profits Surplus Distribution
3 logical ways in which priofits ...,
3 ways of calculating the amount ...,
What is the bonus earning capacit...
7
cards
Chapter 11 & 12 - General Business Environment
Key risks to insurer if the produ...,
Main distribution channels 4,
4 main forms of direct marketing
6
cards
Chapter 13 & 14 & 15 - Risk
What is model risk,
What is parameter risk,
What is random fluctuation risk
13
cards
Chapter 16 - Unit Pricing
What is the internal unit linked ...,
Main risk to the company for main...,
The basic equity principle of uni...
10
cards
Chapter 17 - Actuarial Funding
What is the aim of actuarial funding,
The conditions that have to be me...,
How does actuarial funding achiev...
3
cards
Chapter 18 & 19 - Models
Requirements of a good model 9,
What is a model point,
Factors influencing the number of...
12
cards
Chapter 20 - Product Design
In designing or reviewing any pro...
1
cards
Exam Insights
Types of charges that can be levi...,
What is meant by a market consist...,
10 reasons why insurer will have ...
13
cards
Chapter 21 & 22 - Setting Assumptions
Other influences in claim distrib...,
Modelling and setting assumptions...,
The value assigned to the investm...
12
cards
Chapter 23 & 24 - Supervisory Reserves And Capital Requirements
Definition of gross premium valua...,
Features of the net premium valua...,
Features of the gross premium met...
12
cards
Chapter 25 - Surrender Values
5 reasons to not offer surrender ...,
In determining how to calculate s...,
What is the auction value of a po...
5
cards
Chapter 26 - Alterations
2 considerations that may make th...,
3 examples of common policy alter...,
Principles to consider when calcu...
8
cards
Chapter 27 - Cost Of Guarantees And Options
Some factors affecting mortality ...,
Extra assumptions needed when val...,
Define the cost of a mortality op...
3
cards
Chapter 29 & 30 - Reinsurance
In what ways could 1 reinsurer be...,
2 ways in which the amount to be ...,
Why will the reinsurance premium ...
10
cards
Chapter 31 - Underwriting
What is underwriting,
Main ways of managing risks throu...,
4 main types of underwriting
13
cards
Chapter 32 - Policy Data Checks
Items of data that can be checked...,
Items of data that can be checked...,
Simple cgeck procedure to ensure ...
3
cards
Chapter 33 - Investment
Can consider asset types accordin...,
What is an assets running yield,
State the principle of investments
9
cards
Chapter 34 - Further Risk Management
Commissions should be controlled ...,
What is a sensitive risk,
In order to keep expenses and com...
8
cards
Chapter 35 - Monitoring Experience
Experience will be monitored as p...,
Corrective actions that can be ta...,
Risks of big data
11
cards
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F102
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