With-profits policies with no guarantees

[Edward chong]

Hi,

Do we need to know this type of contracts in detail?

Thank you.
Ming Fei Chong

 

[Lindsay Smitherman]

Hi - do you mean the product described in Section 2 of Chapter 22 ("new-style" with profits business)? If so, then the answer is no: as stated in the Core Reading, you need only know the high level description which is given.

You could, of course, be asked an application question based on this type of contract which would require you to demonstrate understanding of principles covered elsewhere in the course. But you are not expected to know detailed facts about this type of product beyond what is given in the Core Reading.