Which of the following statements concerning the use of experience rating for life insurance reinsurance purposes is (are) correct? I. It is designed to permit the reinsurer to share in mortality gains or losses. II. The sharing is typically based on the combined mortality experience for all reinsurance amounts involving the two companies. III. Arrangements that permit the primary company to share in favorable mortality experience reduce the importance of recapture provisions.

		I only
		I and II only
		II and III only
		I, II, and III