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Life Pricing Exam > Section E > Flashcards

Section E Flashcards

(73 cards)

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1
Q

Major Categories of Equity Linked Guarantees

A

See card

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

See card

Investment Guarantees Chapter 1

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4
Q

Problems with Deterministic Approach To Modeling Long-Term Stock Returns

A

See card

Investment Guarantees Chapter 2

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5
Q

Long-Term Stock Return Models

A

See card

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

See card

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

See card

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

See card

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
Black Scholes w/Dividends
See card Investment Guarantees Chapter 7
26
Considerations When Valuing Guarantees
See card Investment Guarantees Chapter 8
27
Black-Scholes Formula for GMMB
See card Investment Guarantees Chapter 8
28
Black-Scholes Formula for the GMDB
See card Investment Guarantees Chapter 8
29
Hedge Cost Black-Scholes Formula for the GMAB
See card Investment Guarantees Chapter 8
30
Pricing By Deduction From the Separate Account
See card Investment Guarantees Chapter 8
31
Modeling Guaranteed Annuity Options
See card Investment Guarantees Chapter 12
32
Differences Between VA and EIA
See card Investment Guarantees Chapter 13
33
Formulas for EIA Guarantees
See card Investment Guarantees Chapter 13
34
Valuing Embedded Options in EIA
See card Investment Guarantees Chapter 13
35
Reserve Requirements for Long Term Guarantees
See card What's Backing Your Life Insurance Guarantee?
36
UL Primary and Secondary Guarantees
See card What's Backing Your Life Insurance Guarantee?
37
Risks Underlying Variable Annuities
See card Variable Annuities, Kalberer and Rav (LP-116-10) CH05
38
Formulas to Define Shortfall Risk for GMDB
See card Variable Annuities, Kalberer and Rav (LP-116-10) CH05
39
Hedging Risks - Part 1
See card Variable Annuities, Kalberer and Rav (LP-116-10) CH05
40
Hedging Risks - Part 2
See card Variable Annuities, Kalberer and Rav (LP-116-10) CH05
41
Policyholder Behavior Which Will Impact the Value of the Guarantee
See card Variable Annuities, Kalberer and Rav (LP-116-10) CH09
42
Modeling Policyholder Behavior Lapse
See card Variable Annuities, Kalberer and Rav (LP-116-10) CH09
43
Modeling Policyholder Behavior Annuitization and Withdrawal
See card Variable Annuities, Kalberer and Rav (LP-116-10) CH09
44
Risk Management Strategies for VAs
See card Variable Annuities, Kalberer and Rav (LP-116-10) CH10
45
Features That Lead to Higher Guarantee Cost
See card Variable Annuities, Kalberer and Rav (LP-116-10) CH11
46
Using Product Design to Manage VA Guarantee Risk
See card Variable Annuities, Kalberer and Rav (LP-116-10) CH11
47
Stochastic vs. Deterministic Approaches
See card Stochastic Modeling: Theory and Reality
48
When to use (and not to use) a stochastic model
See card Stochastic Modeling: Theory and Reality
49
Alternatives to Stochastic Models
See card Stochastic Modeling: Theory and Reality
50
Stochastic Modeling General Steps
See card Stochastic Modeling: Theory and Reality
51
Risk Neutral Scenarios
See card Stochastic Modeling: Theory and Reality
52
Real World Scenarios
See card Stochastic Modeling: Theory and Reality
53
Risk Measures
See card Stochastic Modeling: Theory and Reality
54
Properties of Coherent Risk Measures
See card Stochastic Modeling: Theory and Reality
55
Formulas for bootstrapping par yields to spot rates
See card Stochastic Modeling: Theory and Reality
56
Stochastic Interest Rate Modeling
See card Stochastic Modeling: Theory and Reality
57
Stochastic Exchange Rate Modeling
See card Stochastic Modeling: Theory and Reality
58
FX Model Sensitivities
See card Stochastic Modeling: Theory and Reality
59
Stochastic Equity Return Modeling Geometric Brownian Motion (GBM)
See card Stochastic Modeling: Theory and Reality
60
Shortcoming of Geometric Brownian Motion
See card Stochastic Modeling: Theory and Reality
61
Calibration of Equity Return Models
See card Stochastic Modeling: Theory and Reality
62
Assumptions an economic generator can produce
See card Stochastic Modeling: Theory and Reality
63
Validating Stochastic Models
See card Stochastic Modeling: Theory and Reality
64
Communicating Results of a Stochastic Model
See card Stochastic Modeling: Theory and Reality
65
Stochastic Pricing of VA with GMDB/GLWB Overview
See card Stochastic Modeling: Theory and Reality
66
Stochastic Pricing of VA with GMDB/GLWB Assumption Sensitivities
See card Stochastic Modeling: Theory and Reality
67
Why is Long Term Care (LTC) Risky?
See card Understanding the Volatility of Experience...in LTC
68
Factors Which Drive Process Risk
See card Understanding the Volatility of Experience...in LTC
69
LTC Risk Metrics - Part 1
See card Understanding the Volatility of Experience...in LTC
70
LTC Risk Metrics - Part 2
See card Understanding the Volatility of Experience...in LTC
71
Factors Which Drive Parameter Risk
See card Understanding the Volatility of Experience...in LTC
72
LTC Risk Reduction Through Product Design
See card Understanding the Volatility of Experience...in LTC
73
Product Management for Long Term Care
See card Understanding the Volatility of Experience...in LTC

Life Pricing Exam (6 decks)

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