Episode Details

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Exam. In this episode you will learn: • How the Law of Large Numbers allows actuaries to predict group mortality rates with statistical precision. • The specific formula for calculating Net Premium by subtracting interest from mortality costs. • The difference between Gross Premium and Net Premium including the role of expense loading. • Why Select mortality tables differ from Ultimate tables based on recent medical underwriting. • How age and gender serve as the primary variables in mortality table data used for premium setting. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep