test2_00 - ACT348F - TERM TEST 2 - NOVEMBER 15, 2000 Print...

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ACT348F - TERM TEST 2 - NOVEMBER 15, 2000 Print your name and student number clearly on each page Do all work on this question paper, with work for question 1 on this page (use both sides if necessary), work for question 2 on the next page, etc. All calculations should be done to . at least 6 digit accuracy Answers are expected to have at least 4 digit accuracy. 1. (a) Express in each of the following forms: "! B&#±l Z (i) prospective, (ii) retrospective, (iii) premium difference, (iv) paid-up insurance (v) annuity-only, (vi) insurance only, (vii) premium only (b) Show algebraically that " ² ³ —" ²´ " !" B&#± l Bµ5&#±²5l ZZ # 5³! * (c) Assuming U.D.D, express the following monthly-premium reserves in terms of the related annual premium reserve and adjustment factor. (i) (ii) #! —"#´ $!&$!l "! —"#´ #±l B Z Z — +´ Solution: (a) (i) prospective: , .. E ² T ¶+ Bµ"!&"± l B&#± l Bµ"!&"±l (ii) retrospective: , .. T B&#± l B&"! l@: E B&"!l " "! " !B (iii) premium difference: , .. · T ² T ¸¶+ Bµ"!&"± l B&#± l Bµ"!&"±l (iv) paid-up insurance: , ·" ² ¸¶E T T Bµ"!&"±l B&#±l Bµ"!&"±l (v) annuity only: , (vi) insurance only: , + E ²E ¹¹ + "²E Bµ"!&"± l Bµ"!&"± l B&#± l (vii) premium only: T ²T T µ.
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This note was uploaded on 09/27/2009 for the course ACT 348 taught by Professor Broverman during the Fall '04 term at University of Toronto- Toronto.

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test2_00 - ACT348F - TERM TEST 2 - NOVEMBER 15, 2000 Print...

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