Question: Question One [Total 35 Marks] (i) Explain how the current COVID-19 environment impacts on any three elements of rate making in life assurance pricing. [6

Question One [Total 35 Marks] (i) Explain how the current COVID-19 environment impacts on any three elements of rate making in life assurance pricing. [6 marks] (ii) Distinguish between adverse selection and moral hazard under the two main classes of insurance. [5 marks] (iii) Write short notes on the roles and functions of the following organisations in Zambia. (a) National Health Insurance Management Authority (NHIMA) (c) Workers Compensation Fund Control Board (WCFCB) [8 marks] (iv) Give a detailed description with named examples of the following forms of insurance organisations. (b) Takaful Insurance Company (e) Reinsurance Company [8 marks]

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