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Life Pricing Exam > Section E > Flashcards

Section E Flashcards

1
Q

Major Categories of Equity Linked Guarantees

A

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Investment Guarantees Chapter 1

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2
Q

Types of Equity-Linked Contracts

A

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Investment Guarantees Chapter 1

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3
Q

Provisions for Equity Linked Liabilities

A

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Investment Guarantees Chapter 1

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4
Q

Problems with Deterministic Approach To Modeling Long-Term Stock Returns

A

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Investment Guarantees Chapter 2

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5
Q

Long-Term Stock Return Models

A

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Investment Guarantees Chapter 2

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6
Q

The Lognormal Model

A

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Investment Guarantees Chapter 2

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7
Q

Autoregressive Models

A

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Investment Guarantees Chapter 2

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8
Q

AR(1)

A

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Investment Guarantees Chapter 2

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9
Q

ARCH(1)

A

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Investment Guarantees Chapter 2

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10
Q

Regime-Switching Lognormal Model (RSLN)

A

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Investment Guarantees Chapter 2

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11
Q

RSLN - Probability Function for Total Sojourn in Regime 1

A

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Investment Guarantees Chapter 2

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12
Q

Wilkie Model

A

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Investment Guarantees Chapter 2

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13
Q

Wilkie Model Inflation Model

A

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Investment Guarantees Chapter 2

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14
Q

Wilkie Model - Share Prices and Dividends

A

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Investment Guarantees Chapter 2

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15
Q

Wilkie Model - LT and ST Bond Yields

A

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Investment Guarantees Chapter 2

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16
Q

Simulating the Stock Return Process

A

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Investment Guarantees Chapter 6

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17
Q

Simulating Stock Return Process for RSLN-2 Model

A

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Investment Guarantees Chapter 6

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18
Q

Equity Fund Growth Formula

A

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Investment Guarantees Chapter 6

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19
Q

Liability Cash Flow For Guarantees

A

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Investment Guarantees Chapter 6

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20
Q

Stochastic Simulation of Liability Cash Flows

A

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Investment Guarantees Chapter 6

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21
Q

Voluntary Reset

A

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Investment Guarantees Chapter 6

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22
Q

Binomial Risk Neutral Model

A

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Investment Guarantees Chapter 7

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23
Q

Major Assumptions of Black-Scholes

A

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Investment Guarantees Chapter 7

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24
Q

Black Scholes Formulas

A

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Investment Guarantees Chapter 7

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25
Q

Black Scholes w/Dividends

A

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Investment Guarantees Chapter 7

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26
Q

Considerations When Valuing Guarantees

A

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Investment Guarantees Chapter 8

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27
Q

Black-Scholes Formula for GMMB

A

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Investment Guarantees Chapter 8

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28
Q

Black-Scholes Formula for the GMDB

A

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Investment Guarantees Chapter 8

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29
Q

Hedge Cost Black-Scholes Formula for the GMAB

A

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Investment Guarantees Chapter 8

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30
Q

Pricing By Deduction From the Separate Account

A

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Investment Guarantees Chapter 8

31
Q

Modeling Guaranteed Annuity Options

A

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Investment Guarantees Chapter 12

32
Q

Differences Between VA and EIA

A

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Investment Guarantees Chapter 13

33
Q

Formulas for EIA Guarantees

A

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Investment Guarantees Chapter 13

34
Q

Valuing Embedded Options in EIA

A

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Investment Guarantees Chapter 13

35
Q

Reserve Requirements for Long Term Guarantees

A

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What’s Backing Your Life Insurance Guarantee?

36
Q

UL Primary and Secondary Guarantees

A

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What’s Backing Your Life Insurance Guarantee?

37
Q

Risks Underlying Variable Annuities

A

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Variable Annuities, Kalberer and Rav (LP-116-10) CH05

38
Q

Formulas to Define Shortfall Risk for GMDB

A

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Variable Annuities, Kalberer and Rav (LP-116-10) CH05

39
Q

Hedging Risks - Part 1

A

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Variable Annuities, Kalberer and Rav (LP-116-10) CH05

40
Q

Hedging Risks - Part 2

A

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Variable Annuities, Kalberer and Rav (LP-116-10) CH05

41
Q

Policyholder Behavior Which Will Impact the Value of the Guarantee

A

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Variable Annuities, Kalberer and Rav (LP-116-10) CH09

42
Q

Modeling Policyholder Behavior Lapse

A

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Variable Annuities, Kalberer and Rav (LP-116-10) CH09

43
Q

Modeling Policyholder Behavior Annuitization and Withdrawal

A

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Variable Annuities, Kalberer and Rav (LP-116-10) CH09

44
Q

Risk Management Strategies for VAs

A

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Variable Annuities, Kalberer and Rav (LP-116-10) CH10

45
Q

Features That Lead to Higher Guarantee Cost

A

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Variable Annuities, Kalberer and Rav (LP-116-10) CH11

46
Q

Using Product Design to Manage VA Guarantee Risk

A

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Variable Annuities, Kalberer and Rav (LP-116-10) CH11

47
Q

Stochastic vs. Deterministic Approaches

A

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Stochastic Modeling: Theory and Reality

48
Q

When to use (and not to use) a stochastic model

A

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Stochastic Modeling: Theory and Reality

49
Q

Alternatives to Stochastic Models

A

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Stochastic Modeling: Theory and Reality

50
Q

Stochastic Modeling General Steps

A

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Stochastic Modeling: Theory and Reality

51
Q

Risk Neutral Scenarios

A

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Stochastic Modeling: Theory and Reality

52
Q

Real World Scenarios

A

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Stochastic Modeling: Theory and Reality

53
Q

Risk Measures

A

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Stochastic Modeling: Theory and Reality

54
Q

Properties of Coherent Risk Measures

A

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Stochastic Modeling: Theory and Reality

55
Q

Formulas for bootstrapping par yields to spot rates

A

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Stochastic Modeling: Theory and Reality

56
Q

Stochastic Interest Rate Modeling

A

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Stochastic Modeling: Theory and Reality

57
Q

Stochastic Exchange Rate Modeling

A

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Stochastic Modeling: Theory and Reality

58
Q

FX Model Sensitivities

A

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Stochastic Modeling: Theory and Reality

59
Q

Stochastic Equity Return Modeling Geometric Brownian Motion (GBM)

A

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Stochastic Modeling: Theory and Reality

60
Q

Shortcoming of Geometric Brownian Motion

A

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Stochastic Modeling: Theory and Reality

61
Q

Calibration of Equity Return Models

A

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Stochastic Modeling: Theory and Reality

62
Q

Assumptions an economic generator can produce

A

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Stochastic Modeling: Theory and Reality

63
Q

Validating Stochastic Models

A

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Stochastic Modeling: Theory and Reality

64
Q

Communicating Results of a Stochastic Model

A

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Stochastic Modeling: Theory and Reality

65
Q

Stochastic Pricing of VA with GMDB/GLWB Overview

A

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Stochastic Modeling: Theory and Reality

66
Q

Stochastic Pricing of VA with GMDB/GLWB Assumption Sensitivities

A

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Stochastic Modeling: Theory and Reality

67
Q

Why is Long Term Care (LTC) Risky?

A

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Understanding the Volatility of Experience…in LTC

68
Q

Factors Which Drive Process Risk

A

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Understanding the Volatility of Experience…in LTC

69
Q

LTC Risk Metrics - Part 1

A

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Understanding the Volatility of Experience…in LTC

70
Q

LTC Risk Metrics - Part 2

A

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Understanding the Volatility of Experience…in LTC

71
Q

Factors Which Drive Parameter Risk

A

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Understanding the Volatility of Experience…in LTC

72
Q

LTC Risk Reduction Through Product Design

A

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Understanding the Volatility of Experience…in LTC

73
Q

Product Management for Long Term Care

A

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Understanding the Volatility of Experience…in LTC

Life Pricing Exam (6 decks)

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