LOMA 280 Study guides, Class notes & Summaries

LOMA 280 EXAM WITH ALL QUESTIONS AND ANSWERS ...

Loma 280 Chapter 4 latest update graded A+ actuarial assumption The assumed values used in the financial design of a product actuary An expert in financial risk management and the mathematics and model-ing of insurance, annuities, and financial instruments block of policies A group of policies issued to insureds who are all the same age, the same sex, and in the same risk classification compound interest Interest on both the principal and the accrued interest compounding Calculating an inter...

LOMA 280 mod.1 ch.1 rated A+ risk The chance or possibility of an unexpected result, either a gain or a loss. speculative risk Three possible outcomes - loss, gain, or no change. This risk cannot be insured. Example: stocks. pure risk No possibility of gain: Loss or no-loss occurs. Ex: possibility of becoming disabled. This is the only risk that can be insured. risk management Process by which individuals and businesses identify and access the risks they face and take measures to eliminate or...