I am yet to come across a past exam question on AWP products - they are mentioned in 2014 September paper but the solutions don't really get into them. Are there past exam qns on AWP? The CR does not really describe AWP in a clear ->they mention a relation of accumulation to Premiums. What does that mean? I understand that you can have unitised and non-unitised AWPs. Is the idea that bonuses are added to Premiums rather than to units bought by allocated premiums the difference between UWP and AWAP and this flexibility to not allocated Premiums to units? Lastly, is the structure of AWP products similar to UWP with regard to the level of transparency, savings products, policy holder ease of tracking performance, freedom to choose from a range of asset funds, AMC applied as charges, etc?
I understand that you can have unitised and non-unitised AWPs. Is the idea that bonuses are added to Premiums rather than to units bought by allocated premiums the difference between UWP and AWAP and this flexibility to not allocated Premiums to units? Lastly, is the structure of AWP products similar to UWP with regard to the level of transparency, savings products, policy holder ease of tracking performance, freedom to choose from a range of asset funds, AMC applied as charges, etc?[/QUOTE]
