1. For a fully discrete 20-year term insurance of 100,000 on (50), you are given: () Gross premiums are payable for 10 years, (ii) Mortality follows the Standard Ultimate Life Table. (it) {=0.05 (iv) Expenses are incurred at the beginning of each year as follows: Year 1 Years 2-10 Years 11-20 Commission as % of premium 409 10% Not applicable Premium taxes as % of premium 296 2% Not applicable Maintenance expenses 75 25 25 (v) Gross premiums are calculated using the equivalence principle. Calculate the gross premium for this insurance (A) 617 (B) 627 (C) 637 (D) 647 (F) 657 1. For a fully discrete 20-year term insurance of 100,000 on (50), you are given: () Gross premiums are payable for 10 years, (ii) Mortality follows the Standard Ultimate Life Table. (it) {=0.05 (iv) Expenses are incurred at the beginning of each year as follows: Year 1 Years 2-10 Years 11-20 Commission as % of premium 409 10% Not applicable Premium taxes as % of premium 296 2% Not applicable Maintenance expenses 75 25 25 (v) Gross premiums are calculated using the equivalence principle. Calculate the gross premium for this insurance (A) 617 (B) 627 (C) 637 (D) 647 (F) 657