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Confused on how a deductible actually works? When you've never had exposure to it in real life, the concept can be a bit difficult to grasp. In this video, I explain exactly how a deductible works on an insurance company and I run through sample problem 40 from the SOA that shows how you can apply what you've learned to actual questions on exam day. Make sure to always read questions carefully so that you know whether they question is talking about a loss or an insurance payment (aka insurance reimbursement). Want help passing Exam P? I have a study strategy program where I show you step-by-step how to study for and pass your exam, as well as answer all your questions along the way. https://etchedactuarial.com/join-my-e... This presentation was as a result of questions I got from Exam P members that are already taking advantage of the program! Come join us today and pass with us! Brea