Chapter 2. Insurance Companies and Pension Plans Practice Question Set contains 21 pages covering the following learning objectives:
* Describe the key features of the various categories of insurance companies and identify the risks facing insurance companies.
* Describe the use of mortality tables and calculate the premium payment for a policy holder.
* Distinguish between mortality risk and longevity risk and describe how to hedge these risks
* Describe a defined benefit plan and a defined contribution plan for a pension fund and explain the differences between them.
* Calculate and interpret loss ratio, expense ratio, combined ratio, and operating ratio for a property-casualty insurance company.
* Describe moral hazard and adverse selection risks facing insurance companies, provide examples of each, and describe how to overcome the problems.
* Evaluate the capital requirements for life insurance and property-casualty insurance companies.
* Compare the guaranty system and the regulatory requirements for insurance companies with those for banks.
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