Question 1: Which type of statistical distribution is most commonly used in survival analysis for modeling the time until an event occurs, such as policy lapses?
Which action should you take?
Question 2: What is the primary purpose of using the Kaplan-Meier estimator in actuarial studies?
Which action should you take?
Question 3: How does "Survival Analysis" contribute to risk assessment in life insurance, and what statistical methods are used to model survival times?
Which action should you take?
Question 4: Which of the following is a key regulatory document for insurers under the NAIC (National Association of Insurance Commissioners) framework in the US?
Which action should you take?
Question 5: Which of the following is a key disadvantage of using a VaR model for risk management?
Which action should you take?
Question 6: What is the significance of the "funding ratio" in a pension plan?
Which action should you take?