2011 ACTL1001 Quiz

2011 ACTL1001 Quiz - Name _ Student ID _ Tutor Name _...

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Name _________________________ Student ID _________________________ Tutor Name _________________________ Tutorial Class and Time _________________________ THE UNIVERSITY OF NEW SOUTH WALES 2011 MID-SESSION EXAMINATION ACTL1001 ACTUARIAL STUDIES AND COMMERCE 1) TIME ALLOWED – 1 HOUR (PLUS 10 MINUTES READING TIME). 2) TOTAL MARKS – 30 3) TOTAL NUMBER OF QUESTIONS – 3 4) ANSWER ALL QUESTIONS. 5) STUDENTS MAY BRING A “UNSW-APPROVED CALCULATOR”. 6) CANDIDATES SHOULD ANSWER EACH QUESTION IN THE SPACE PROVIDED. ALL ANSWERS MUST BE WRITTEN IN INK. EXCEPT WHERE THEY ARE EXPRESSLY REQUIRED, PENCILS MAY BE USED ONLY FOR DRAWING, SKETCHING OR GRAPHICAL WORK.
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©2011. UNSW School of Actuarial Studies Page 2 of 8 (ANSWER ON THE SPACES PROVIDED.) Question 1 (10 marks) As a financial planner, you provide advice to your customers on saving plans to allow them to meet their financial goals. You have a 19 year old client who has sought your advice on retirement planning. The client has read an advertisement from a leading financial institution advising them on the benefits of saving earlier for retirement. Two possible strategies are reviewed and they are : Strategy 1 – Save $5 000 on turning age 20 and invest $1 000 on each birthday for
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2011 ACTL1001 Quiz - Name _ Student ID _ Tutor Name _...

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