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Unknown Unknown
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Decks in this class (25)
Chapter 1 - Life Insurance Products 1 - Endowment
What is the new business strain 1,
What kind of customer needs might...,
List and discuss 5 factors that i...
10
cards
Chapter 2 - Life Insurance Products 2 - Whole Life and Term
Describe a whole life assurance c...,
Discuss the risks to an insurance...,
Describe a term assurance contract 3
13
cards
Chapter 3 Life insurance products (3) - Annuity
Describe in detail the core struc...,
State key risks to an insurance c...,
Comment on the capital requiremen...
6
cards
Chapter 4 Life insurance products (4) - Unit Linked
Describe 4 bases on which life in...,
Outline the key features of unit ...,
Capital requirement for unit link...
13
cards
Chapter 5 Asset shares
Define asset share 4 1,
Explain in words how an asset sha...,
What typical developments do we e...
10
cards
Chapter 6 With-profits surplus distribution (1)
List 3 forms in which profits can...,
Explain why the insurer and the w...,
What is it that forms part of the...
14
cards
Chapter 7 With-profits surplus distribution (2)
Describe the revalorisation syste...,
State 4 advantages of revalorisat...,
State 4 disadvantages of the reva...
10
cards
Chapter 8 The general business environment (1)
List the factors in the general b...,
List 4 distribution channels used...,
State 2 main risks to a life insu...
10
cards
Chapter 9 The general business environment (2)
Outline main types of expenses an...,
State 2 main risks with regard to...,
Explain how legal risks may arise...
7
cards
Chapter 10,11,12 - Risk
List 16 possible sources of risk ...,
Risks in investigations 2,
Explain how persistency may be a ...
6
cards
Chapter 13 Unit pricing
Management box advantages and dis...,
Define an internal unit linked fu...,
State the basic equity pricinple ...
7
cards
Chapter 14,15 Models
List the 4 different types of lif...,
Real vs notional cashflow 2,
Stochastic versus deterministic 3
15
cards
Chapter 16 Product design
List 12 factors to be considered ...,
Meeting customer needs 2,
Profitability 3
5
cards
Chapter 17.18 Setting assumptions
Outline a general process for set...,
Different approaches used to proj...,
To reduce the volatility in the m...
14
cards
Chapter 19 Supervisory reserves and capital requirements (1)
What 2 primary methods can be use...,
Define the gross premium valution...,
Gross premium vln mthd unit linke...
7
cards
Chapter 20 Supervisory reserves and capital requirements (2)
Describe what we mean by market c...,
Describe how the investment retur...,
Explain what s meant by illiquidi...
10
cards
Chapter 21 Surrender values
I describe the most important obj...,
State the main advantages and dis...,
State the main advantages and dis...
6
cards
Chapter 22 Alterations
Paid up pup alteration 1,
What 2 broad methods do we have t...,
Paid up sums assured should 3
6
cards
Chapter 23 Cost of guarantees and options
How do insurer s meet the cost of...,
Describe the general principle be...
2
cards
Chapter 24 Reinsurance (1)
What are the main types of reinsu...,
Define original terms reinsurance...,
Describe the 3 steps involved in ...
14
cards
Chapter 25 Reinsurance (2)
Reasons for reinsuring 1,
In any case a unit linked 2,
Which types of reinsurance would ...
3
cards
Chapter 26 Underwriting
What is the main purpose of under...
1
cards
Chapter 27 Policy data checks
Data reconcilations checkc can be...
1
cards
Chapter 28 Investment
State the 3 main principles of in...,
Cash 2,
What is perfect liability matchin...
4
cards
Important to memorize
Asset liability matching 1,
Unit pricing expropriation and ap...,
Steps to determine expense assump...
15
cards
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IFoA - SP2
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