An actuary is expected to:
A) Make an exact forecast of the future liabilities of policies
B) Make a reasonable forecast of the future liabilities of policies
C) Calculate the premium required to cover a risk on a long-term basis
D) Find the probability of an insured event to happen in non-life policies
Correct Answer:
Verified
Q1: Insurance business is based on _.
A)Newtons Law
B)Boyles
Q2: Gross Premium means Net Premium plus_
A)Margin
B)Profit
C)Expense Loading
D)Loss
Q3: _ is pricing of insurance products driven
Q4: Insurance helps to:
A)Prevent adverse situations from occurring
B)Reduce
Q6: The principle of average applies when the
Q7: Fidelity Guarantee Policies cover losses due to
Q8: CTL as used in insurance
A)Contributory Total Loss
B)Constructive
Q9: GA as used in insurance
A)General Assurance
B)General Average
C)General
Q10: Which of the following terms matches closest
Q11: In cases where a Life Insurance Agent
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