edu-cat-exam-mlc-note

edu-cat-exam-mlc-note - Notational Differences Between...

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Page 1 of 2 Notational Differences Between Actuarial Mathematics and Models for Quantifying Risk for Candidates Taking Exam MLC/3 There are several notational differences between the two texts. The ones listed in this note are the ones that may appear on the examination. Examination questions will be written so that candidates will not be disadvantaged by the text they used. 1. Force of mortality MQR uses or x xt μ + . The subscript is always the current age. AM uses ( ), ( ), or ( ) x x t μμ + . The first two refer to attained ages while the third one is reserved for indicating selection at age x and attained age x + t . Any of these symbols may appear on the exam. 2. Survival function AM uses s ( x ) while MQR uses S ( x ). Either symbol may appear on the exam. 3. Future Complete lifetime MQR uses T x while AM uses T ( x ) for the future complete lifetime of ( x ). Either symbol may appear on the exam. The same comment applies for joint life, T xy or T(xy), and last survivor statuses, xy T or T( xy ) .
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edu-cat-exam-mlc-note - Notational Differences Between...

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