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Intermediate
A pricing memo sets a net premium by E[L]=0 and then calls the result the final office premium. What is missing for a marketable gross premium?
Nothing; net premiums are always office premiums
Only mortality needs to be updated to 2024 SOA tables
Expense, profit, tax, and capital/risk margin assumptions must be added through a gross premium or profit test
The premium must be replaced by a reserve
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