1.What is the difference between term life insurance and whole life insurance? Explain the tax advantages of whole life insurance.2.Explain the meaning of variable life insurance and universal life insurance.

3.A life insurance company offers whole life and annuity contracts. In which contracts does it have exposure to (a) longevity risk, (b) mortality risk?

4.Use Mortality Table to calculate the minimum premium an insurance company should charge for a $1 million two-year term life insurance policy issued to a woman aged 50. Assume that the premium is paid at the beginning of each year and that the interest rate is zero.

5.From Mortality Table, what is the probability that a man aged 30 will live to 90? What is the same probability for a woman aged 30?

6.How does health insurance in the United States differ from that in Canada and the United Kingdom?

7.An insurance company decides to offer individuals insurance against losing their jobs. What problems is it likely to encounter?

8.Why do property-casualty insurance companies hold more capital than life insurance companies?

9.Explain what is meant by "loss ratio" and "expense ratio" for a property- casualty insurance company. "If an insurance company is protable, it must be the case that the loss ratio plus the expense ratio is less than 100%." Discuss this statement.

10.What is the difference between a dened benet and a dened contribution pension plan.