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ACTSC-232-1035-Midterm3_exam

ACTSC-232-1035-Midterm3_exam - ACTSC 232 — SPRING 2003...

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Unformatted text preview: ACTSC 232 — SPRING 2003 MID-TERM EXAM _ 2 July 2003 Answer all 4 uestions. Total 30 marks. Use the following select mortality table for questions 1 and 2: 1. (a) (b) AAA (DD-IO (C) (d) Write down the select period of the table. [1] Calculate the probability that a life age 71 dies between ages 75 and 76 given that the life was selected at age 70. [1] Calculate 2pm,)“. [1] Calculate ”pm” assuming UDD. [2] Calculate 2_75q[70]+% assuming UDD. [3] [Total 9 marks] Describe in words the insurance with the present value [1] Z Z { 200 Mm“ Km] 3 3 100 '04 Km] 2 4 Calculate the expected value of Z using the Table above question 1, and using an interest rate of 10% per year effective. [3] Calculate the standard deviation of Z using the same assumptions as in (b) [4] Calculate the probability that Z is less than 150 using the same assumptions as in (b). [4] [Total 12 marks] TURN OVER ...
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