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FM-09-05 - SOCIETY OF ACTUARIES/CASUALTY ACTUARIAL SOCIETY...

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11/08/04 2 SOCIETY OF ACTUARIES/CASUALTY ACTUARIAL SOCIETY EXAM FM FINANCIAL MATHEMATICS EXAM FM SAMPLE QUESTIONS Copyright 2005 by the Society of Actuaries and the Casualty Actuarial Society Some of the questions in this study note are taken from past SOA/CAS examinations. FM-09-05 PRINTED IN U.S.A.
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11/08/04 3 These questions are representative of the types of questions that might be asked of candidates sitting for the new examination on Financial Mathematics (2/FM). These questions are intended to represent the depth of understanding required of candidates. The distribution of questions by topic is not intended to represent the distribution of questions on future exams.
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11/08/04 4 1. Bruce deposits 100 into a bank account. His account is credited interest at a nominal rate of interest of 4% convertible semiannually. At the same time, Peter deposits 100 into a separate account. Peter’s account is credited interest at a force of interest of δ . After 7.25 years, the value of each account is the same. Calculate δ . (A) 0.0388 (B) 0.0392 (C) 0.0396 (D) 0.0404 (E) 0.0414
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