To set up your first product, navigate to the Products section of Model Development by clicking "Develop" at the top of the page. After clicking on the Products button, you should see a list of the products and "Create New Product" in the upper-right corner.
Below the Products section, you will see the Product Variable Output Groupings section, which allows you to select criteria to group the model results in the Reporting view.
If you mouse-over one of the products, you'll see two additional icons on the right side, as pictured above. The first icon copies the product, the second one deletes it. Clicking anywhere else on that row will bring you to that product's page. Let's go to the Term Life product by clicking on that row.
Let's look at this page, starting with the bar at the top. Clicking on "Term Life" will give you a dropdown that allows for easy navigation to other existing products. The Description is the same text that was shown in the product selection screen and has no impact on any calculations. The Termination Variable lists a boolean variable that determines when to stop making calculations for this product. "Edit Product Details" allow you to change both the Description and Termination Variable, as well as rename the product.
"Edit Model Point File Definition" allows you to rename the fields in the product's model point file, change the Data Type of any of the fields, control if the field should be scaled on purchase or sale. Additionally, you can add new fields at the bottom. In the upper-right corner, you can download an Excel file template.
On the left side of the screen, you can see the variable list, as pictured above. There is a filter at the top, which defaults to filtering by name. If you click on the "by Tag" on the right side of the filter, it will give you a list of tags to filter by. Note that you can add more tags to any variable, and they do not need to come from a predefined list.
Clicking "Add New" will create a new variable and give you the opportunity to set each of its attributes.
If you click on an existing variable, you will be able to edit it using the formula builder. If you either click on the variable's tags or the "(No Tags)" section of the variable's header, you can input new tags. Make sure you click on the checkbox to save them. Clicking anywhere else on the header will expand the Variable Properties & Documentation section.
For now, let's scale the commission rates by 10%. Click on "Commission Rate" on the left side, variable list. Click on the circular icon on the right side of the formula, then the C for Constants.
Select "Decimal" and enter a value of "1.1". Finally, click on the plus (+) icon and change it to multiplication (x). Finally, click on "Save Formula" at the bottom.
You can make additional changes to other variables as you see fit following similar steps. Modify the formulas as needed and make sure to hit "Save Formula" when you're done.