knowledge topics
Mortality
KNOWLEDGE EXPECTED OF: Both CFP® Professionals and QAFPTM Professionals
- Define terms used by insurers associated with mortality.
- Mortality
- Mortality risk
- Mortality cost
- Identify statistics related to the rate of mortality for an individual.
- Explain how each of the factors may impact the mortality risk for an individual, such as:
- Age
- Gender
- Smoking status
- Health history
- Family health history
- Occupation
- Character
- Lifestyle (e.g. hazardous activities)
- Explain the relationship between the factors that may impact the mortality risk of an individual and the mortality cost of providing life insurance to an individual.
- Define life expectancy.
- Identify the Projection Assumption Guidelines1 as a reliable source for life expectancy assumptions.
- Identify other sources for life expectancy assumptions, such as:
- Statistics Canada
- Insurance companies
- Identify the life expectancy for an individual based on the Projection Assumption Guidelines.2
Glossary of Verbs (mouse over to see definition)
-
Define
To state exactly the meaning of
-
Identify
To be aware of / to recognize and correctly name / to locate an appropriate resource
-
Explain
To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it
-
Compare
To note the similarities and differences between two or more things
-
Estimate
To determine an approximate value for
-
Calculate
To find the value using mathematics
-
Convert
To change from one form or purpose to another
-
Evaluate
To reach a conclusion or make a judgement through careful study
-
Interpret
To give the meaning of / to construe or understand / to translate orally
Read more about the Taxonomy used in the FP-BoK
