Define central bank.

What are it's functions.

(a) (1 point) Verify the accuracy of the following statements regarding a wide range of contributors to your committee. Justify your answers. (i) The committee should be comprised of director level and above associates from the department most affected by the new product (ii) All levels of seniority should be included on the committee (iii) Shorter term employees should be excluded due to their lesser knowledge base (iv) The committee should include only members of the pricing organization and its affiliates (b) (3 points) Describe the following risk identification techniques: (i) Brainstorming (ii) Independent group analysis (iii) Gap Analysis survey (iv) Delphi Technique survey (c) (2 points) Describe the disadvantages of the following risk identification techniques: (i) Brainstorming (ii) Surveys(7 points) State X is creating a CO-OP to compete in the individual health insurance segment in accordance with the Affordable Care Act (ACA). The directors of the CO-OP are looking for feedback on the following proposals: (1) Rent a provider network from the carrier with the largest market share in the state. (2) Contract with a third-party administrator (TPA) to manage claims processing, customer support, and administrative services. (3) Offer Platinum level benefit plan designs in the Individual segment. (a) (2 points) Describe advantages and disadvantages of each proposal. The CO-OP directors are also interested in implementing a risk management framework. (b) (3 points) (i) Describe traditional risk management (ii) Describe enterprise risk management (ERM) (c) (2 points) Describe the health insurance risk controls the CO-OP should implement around underwriting, pricing, and claim management to generate positive ratings for their ERM program