For Life Insurance, Actuaries Use _____, Which Predict the Percentage

question 41

Multiple Choice

For life insurance, actuaries use _____, which predict the percentage of people in each age group who are expected to die each year.

• A)longevity tables
• B)morbidity tables
• C)accident rates
• D)mortality tables
• E)life expectancy tables

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Definitions:

Dispositional Traits

Enduring characteristics or qualities of an individual's personality that are consistent across different situations and time.

Fixed Traits

Characteristics or attributes of an individual that are considered stable over time and not subject to change.

Fundamental Attribution Error

The cognitive bias of attributing other people's actions to their character or disposition, while attributing one's own actions to situational factors.

Psychological Contract Bias

The tendency for misunderstandings or misinterpretations to occur regarding the unwritten and unspoken expectations between employees and employers.