ACT240 2010 Summer Term test - Family name, comma, personal...

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ACT240 Sum10 TT1 v05 Privacy Code A with sols for web Page 1 of 9 Family name, comma, personal names:____________________________________ Your student ID:______________________________________________________ Your signature: ______________________________________________________ UNIVERSITY OF TORONTO Faculty of Arts and Science ACT240 Sum2010 TERM TEST 1, May 20, 2010 Duration – 50 Minutes Aids: All calculators allowed. Scrap paper OK if needed. Instructor: Keith Sharp PhD FSA FCIA CFA NOTES: 1. Please identify your Privacy Version Code in the page footer (small letters at bottom of this page, A, B, C or D) and blob it as the answer for the question after the last real question (so blob as question 11 for a 10-question term test, as question 25 for a 24 question final). 2. It’s OK to write on book. 3. This is a closed book exam. 4. Multiple choice: only your letter answer mark sense sheet will be graded. 5. Scantrons: please write in both the blobs and eye-readable identifiers 6. Scantrons: pencil preferred, ink might have to be hand-graded 7. Each question: 10 points correct, two if blank, zero points if wrong 8. So expectation if you guess is the same as leaving a blank. 9. Make sure you’ve indicated your letter answers on the Scantron before time’s up 10. Please stay in your seats and don’t talk till all materials have been collected. 11. Photo ID on desk during exam 12. Name and student ID and signature on this question paper and on Scantron 13. Good luck!
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ACT240 Sum10 TT1 v05 Privacy Code A with sols for web Page 2 of 9 1. (Assignment) At an effective annual compound interest rate of i>0, it is found that an investment doubles in a years, triples in b years, and $1 grows to $5 in c years. To what amount to the nearest dollar does $10 grow in 3a+4b years?. (A) $5,680 (B) $6,080 (C) $6,480 (D) $6,880 (E) The correct answer is not given by (A), (B), (C) or (D) ( C) Solution: 10*2 3 *3 4 = 6480
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ACT240 Sum10 TT1 v05 Privacy Code A with sols for web Page 3 of 9 2. (Assignment) You are given: (i) Fund X accumulates at an interest rate of 8% compounded quarterly; (ii) Fund Y accumulates at an interest rate of 6% compounded semiannually;
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This note was uploaded on 04/14/2011 for the course ACTUARIAL 240 taught by Professor Sharp during the Summer '10 term at University of Toronto- Toronto.

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ACT240 2010 Summer Term test - Family name, comma, personal...

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