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Life Pricing Exam > Section D > Flashcards

Section D Flashcards

1
Q

Target Markets

A

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Life P&F Chapter 2

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2
Q

Strengths and Core Competencies

A

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Life P&F Chapter 2

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3
Q

Product Development Team

A

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Life P&F Chapter 2

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4
Q

Ways to Structure Product Development Staff

A

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Life P&F Chapter 2

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5
Q

Disadvantages of Ad-hoc Product Development Staff

A

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Life P&F Chapter 2

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6
Q

Buyer Oriented Pricing Strategies

A

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Life P&F Chapter 2

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7
Q

Competitor Oriented Pricing Strategies

A

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Life P&F Chapter 2

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8
Q

Product Life Cycle

A

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Life P&F Chapter 2
CIFP Knowledge Series

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9
Q

Distribution System Life Cycle

A

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Life P&F Chapter 2

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10
Q

The Product Development Process

A

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Life P&F Chapter 2
Various Other Study Notes

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11
Q

Benefits of Market Research

A

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Life P&F Chapter 2

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12
Q

Basic Elements of Market Research

A

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Life P&F Chapter 2

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13
Q

Market Research Sources of Information

A

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Life P&F Chapter 2

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14
Q

Market Research Types of Information to Gather

A

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Life P&F Chapter 2

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15
Q

Preliminary Product Design

A

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Life P&F Chapter 2

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16
Q

Develop Consensus

A

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Life P&F Chapter 2

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17
Q

Determine Feasibility

A

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Life P&F Chapter 2

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18
Q

Preliminary Pricing

A

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Life P&F Chapter 2

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19
Q

Cost Benefit Analysis

A

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Life P&F Chapter 2

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20
Q

Steps in the Final Product Design

A

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Life P&F Chapter 2

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21
Q

Pricing Pitfalls

A

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Life P&F Chapter 2

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22
Q

Common Pricing Variables

A

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Life P&F Chapter 2

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23
Q

Pricing Permanent Insurance

A

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Life P&F Chapter 2

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24
Q

Pricing Dynamic Products

A

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Life P&F Chapter 2
LP-105-07 Chapter 2

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25
Q

Pricing Dynamic Products Additional Considerations for Flexible Premium UL

A

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Life P&F Chapter 2

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26
Q

Pricing Dynamic Products Additional Considerations for VUL

A

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Life P&F Chapter 2

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27
Q

Functional Areas Involved in Product Implementation

A

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Life P&F Chapter 2

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28
Q

Activities for Product Implementation

A

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Life P&F Chapter 2

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29
Q

Product Implementation Sales and Marketing Materials

A

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Life P&F Chapter 2

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30
Q

Product Management & Sales Monitoring and Review

A

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Life P&F Chapter 2

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31
Q

Required Capital Formula Will Reflect the Following Risks

A

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Life P&F Chapter 10

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32
Q

Asset Default Risk

A

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Life P&F Chapter 10

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33
Q

Insurance Risk

A

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Life P&F Chapter 10

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34
Q

Interest Rate Risk

A

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Life P&F Chapter 10

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35
Q

Interest Spread Risk

A

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Life P&F Chapter 10

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36
Q

Other Risk

A

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Life P&F Chapter 10

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37
Q

Required Capital Formula

A

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Life P&F Chapter 10

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38
Q

US Risk Based Capital

A

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Life P&F Chapter 10

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39
Q

Canadian MCCSR

A

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Life P&F Chapter 10

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40
Q

Australian Liability Requirements

A

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Life P&F Chapter 10

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41
Q

Margin on Services (MoS) Earnings Reserves

A

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Life P&F Chapter 10

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42
Q

Solvency Requirement

A

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Life P&F Chapter 10

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43
Q

Canadian Adequacy Requirement

A

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Life P&F Chapter 10

44
Q

European Union Solvency Requirement

A

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Life P&F Chapter 10

45
Q

Earnings Formulas

A

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Life P&F Chapter 11

46
Q

Basic Questions When Selecting Profit Goals

A

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Life P&F Chapter 11

47
Q

Discount Rate will Be Influenced By

A

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Life P&F Chapter 11

48
Q

Generalized ROI

A

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Life P&F Chapter 11

49
Q

Types of Profit Measures

A

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Life P&F Chapter 11
Life Insurance Costing (LP-114-09)

50
Q

Embedded Value

A

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Life P&F Chapter 11
Life Insurance Costing (LP-114-09)

51
Q

ROI or IRR

A

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Life P&F Chapter 11
Life Insurance Costing (LP-114-09)

52
Q

Profit Margin

A

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Life P&F Chapter 11
Life Insurance Costing (LP-114-09)

53
Q

ROE

A

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Life P&F Chapter 11
Life Insurance Costing (LP-114-09)

54
Q

Return on Assets (ROA)

A

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Life P&F Chapter 11
Life Insurance Costing (LP-114-09)

55
Q

Profit as a Percent of Revenue or Premium Analysis

A

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Life P&F Chapter 11
Life Insurance Costing (LP-114-09)

56
Q

Accumulated profit as a percentage of reserves

A

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Life P&F Chapter 11

57
Q

Breakeven Year

A

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Life P&F Chapter 11
Life Insurance Costing (LP-114-09)

58
Q

New Business Strain

A

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Life P&F Chapter 11
Life Insurance Costing (LP-114-09)

59
Q

Profit Goals Must

A

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Life P&F Chapter 11

60
Q

Uses of an Income Annuity

A

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Life P&F Chapter 13

61
Q

Types of Income Annuities

A

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Life P&F Chapter 13

62
Q

Variable Income Annuities

A

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Life P&F Chapter 13
LP-105-07 Chapter 7

63
Q

Advantages of accumulation annuities over investment products

A

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Life P&F Chapter 13

64
Q

Types of Accumulation Annuities

A

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Life P&F Chapter 13
LP-105-07 Chapter 6

65
Q

CD Annuity

A

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Life P&F Chapter 13
LP-105-07 Chapter 6

66
Q

Two-tiered annuity

A

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Life P&F Chapter 13

67
Q

Accumulation Annuity Product Features

A

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Life P&F Chapter 13
LP-105-07 Chapter 6

68
Q

Market Value Adjustment

A

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Life P&F Chapter 13
LP-105-07 Chapter 6

69
Q

Investment Products

A

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Life P&F Chapter 13

70
Q

Mortality Assumptions For Annuities

A

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Life P&F Chapter 13

71
Q

Interest and Investment Income Assumptions for Annuities

A

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Life P&F Chapter 13

72
Q

Expense Assumptions for Annuities

A

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Life P&F Chapter 13

73
Q

Product Cash Flows Differences Annuities vs. Life Insurance

A

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Life P&F Chapter 13

74
Q

Reinsurance for Annuities

A

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Life P&F Chapter 13

75
Q

Required Capital and Profit Measures for Annuities

A

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Life P&F Chapter 13
LP-105-07 Chap 6

76
Q

Principles of Costing

A

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Life Insurance Costing Risk Analysis (LP-114-09)

77
Q

The Costing Process

A

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Life Insurance Costing Risk Analysis (LP-114-09)

78
Q

Customer Value Analysis

A

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Life Insurance Costing Risk Analysis (LP-114-09)

79
Q

Risk mitigation strategies for non-diversifiable risks

A

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Life Insurance Costing Risk Analysis (LP-114-09)

80
Q

Risk Adjusted Return on Capital

A

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Life Insurance Costing Risk Analysis (LP-114-09)

81
Q

Product features that will impact the election of policyholder options

A

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Life Insurance Costing Risk Analysis (LP-114-09)

82
Q

Considerations when modeling products with significant market risk

A

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Life Insurance Costing Risk Analysis (LP-114-09)

83
Q

Fixed Income Crediting Strategies

A

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Life Insurance Costing Risk Analysis (LP-114-09)

84
Q

Stochastic Modeling Advantages and Disadvantages

A

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Life Insurance Costing Risk Analysis (LP-114-09)
Stochastic Modeling: Theory and Reality

85
Q

Effect of Federal Income Tax on ROI and ROE

A

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Pricing in an ROE Environment

86
Q

Reasons a block of business can earn an ROE greater than the company target

A

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Pricing in an ROE Environment

87
Q

Ways to Meet ROE Objectives

A

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Pricing in an ROE Environment

88
Q

Relationship Between ROE and ROI Depends On

A

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Pricing in an ROE Environment

89
Q

How to produce level annual ROE equal to IRR

A

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Relationship of IRR to ROI on Level Term Life Insurance

90
Q

Influencing ROE Slope

A

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Relationship of IRR to ROI on Level Term Life Insurance

91
Q

Lapse-Supported Pricing

A

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Lapse-Based Insurance (LP-132-15)

92
Q

Value Creation for Insurance Companies

A

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Econ of Insurance How Insurers Create Value (LP-113-09)

93
Q

Sources of Frictional Capital Costs

A

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Econ of Insurance How Insurers Create Value (LP-113-09)

94
Q

Elements of Performance Management for Value Creation

A

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Econ of Insurance How Insurers Create Value (LP-113-09)

95
Q

ASOP 2 Recommended Practices

A

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ASOP 2

96
Q

ASOP 2 Communication and Disclosure

A

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ASOP 2

97
Q

Pitfalls of Traditional Profit Measures

A

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Risk Based Pricing
Various Other Study Notes

98
Q

Risk Based Pricing

A

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Risk Based Pricing

99
Q

Traditional Pricing vs. Risk Based Pricing

A

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Risk Based Pricing

100
Q

Advantages of Risk Based Pricing

A

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Risk Based Pricing

101
Q

Principles-Based Pricing Examples of items that will impact reserves after issue

A

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Impact of VM-20 on Life Insurance Product Development

102
Q

High-Level Summary of VM-20 Requirements

A

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Impact of VM-20 on Life Insurance Product Development

103
Q

Principles-Based Pricing 10-Year Term Case Study

A

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Impact of VM-20 on Life Insurance Product Development

104
Q

Principles-Based Pricing ULSG Case Study

A

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Impact of VM-20 on Life Insurance Product Development

105
Q

VM-20 Implementation Survey

A

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Impact of VM-20 on Life Insurance Prod Dev - Phase 2

106
Q

Impact of VM-20 on Smaller Companies

A

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Impact of VM-20 on Life Insurance Prod Dev - Phase 2

Life Pricing Exam (6 decks)

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