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Single Monthly Mortality (SMM) Definition.

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The Single Monthly Mortality (SMM) is the probability that one or more policyholders will die during a particular month. The SMM is used to calculate the expected number of policyholder deaths per month. How do I calculate monthly mortality rate? The monthly mortality rate is the percentage of people who die within a month of … Read more

Appraisal Definition.

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An appraisal definition is a professional opinion of value of a certain property. Appraisals are commonly used in the mortgage industry in order to determine the loan-to-value ratio of a potential borrower. What are the important elements of a good appraisal system? -The important elements of a good appraisal system are as follows: -An appraisal … Read more