Actuarial Science 2053 Test 1 - Practice 1
1.
A $12,000 short term loan was taken out on April 3, 2009 at a simple interest rate of 8%. Interest is to
be calculated using ordinary interest (Bankers rule). The amount repaid was $12,488.00. On what
date in

Temporary Life Annuities (section 10.5)
(I) Temporary Life Annuity Due
An n-year temporary life annuity due is
issued to (x), and provides a payment of
$1 at the beginning of every year that (x)
is alive for a maximum of n-payments
payments end when eith

AS2053 W2014 Ch.7 lecturenotes
Ch. 7 Business Decisions & other topics
7.1 Net Present Value
7.2 Internal Rate of Return(IRR)
7.3 Capitalized Cost
7.4 Depreciation
1
AS2053 W2014 Ch.7 lecturenotes
7.1 Net Present Value(NPV)
NPV is one tool used to assess

Actuarial Science 2053 Test 1 - Formula Page
Simple Interest
S = P (1 + rt )
P = S (1 + rt )1
I = Prt = S P
Simple Discount
S = P (1 dt )1
P = S (1 dt )
D = Sdt = S P
Compound Interest
S = P (1+ i ) n
P = S(1+ i ) n
i = jm / m
Equivalent Rates
jm and jp a

DEPT. OF STATISTICAL AND ACTUARIAL SCIENCES
Actuarial Science 2053 - 2012-13 - Mid Term Test 1
Friday, October 25, 2013
7:00 pm 9:00 pm (2-hour multiple choice)
INSTRUCTIONS
1. This is a 2-hour closed book examination.
2. There are 22 multiple choice ques

DEPT. OF STATISTICAL AND ACTUARIAL SCIENCES
Actuarial Science 2053
2012-13
Mid Term Test 1
Friday, October 26, 2012
2-hour multiple choice
Name:_
7:00 pm 9:00 pm
Student Number:_
INSTRUCTIONS
1. This is a 2-hour closed book examination.
2. There are 22 mu

Actuarial Science 2053 Practice Final 2
Covers Chapter 1 Intro to Actuarial Math
1. A fair standard die is rolled until a six appears. If X is the number of rolls that are necessary.
What is the probability that X 2?
(A) 12/36
(B)
11/36
(C)
7/36
(D)
6/36

Actuarial Science 2053 Practice Final 1
Chapter 1
Use the following values for the next TWO questions:
You are given a portion of a Mortality Table for Females
x
x
x
lx
lx
50
92,600
54
90,060
58
51
92,000
55
89,350
59
52
91,380
56
88,600
60
53
90,735
57
8

Refinancing A Loan The Amortization
Method (section 5.3)
It is common practice to refinance a longterm loan before it is fully paid back
For Example
1. Suppose in a mortgage, you are locked in
at a specific interest rate for 5-years
at the end of the 5-y

Chapter 5 Repaying a Debt
Amortization of a Debt (section 5.1)
Interest bearing loans are often paid back by
means of a series of equal payments at equal
time intervals
we say the loan is being amortized
It is useful to know how much of each loan
payment

20. On a debt of$]0,000, interest is paid scumannually at j2 = l
0% and s xniannual deposits are made
into a sinking fund to retire the debt at the end years. fund earns interest atj12= 6%.
What is the semiannual expense of the debt?
2 /
(A) $2382.13 1370

13. An individual borrowed $10,000 nine months ago and WWII-me naonm ago and he
wishes to pay off this loan with a pay-uncut of$Xiroday_ You mgi'men jg: l d that the
practical method of crediting/charging interest is taxed- Domini-De $281
(A) $16,9

17.
18.
19.
Your first deposit is made November 8, 2002 and your final
You deposit $300 every 3months.
deposit is made Novelnber 8, 2010. If the de osits ear ' = 8%. how much do you have immediately
after the deposit on Novernber 8, 2010? i
(A) $12,713.

Mb W'MJM Wish W W. what loan should you ask for? (3 marks)
(I117: What Irate ofsunple Interest is the loan company actually Charging you? (2 marks)
24$- dag3
ma
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3 1»
x 0) S $500<9 c1 5 /0 't: 245 day?
\ _ 500%; 500 or
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g? : C /-

Actuarial Science 2053 (2014-15) Final Exam
1. The final exam is set for Friday, April 24, 2015. The exam is a 3-hour multiple choice exam from 2 pm
to 5 pm. Please arrive by 1:50 as we will start to seat students at this time.
Surname starts with
All stu

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NAME(Qrint): M {Fe Kg ID:
Plea-sesMw '"l'l' 'our work iii-thespace 'provided-belowmotei' formula page-ion reverse)
(1) (2 marks) In a math class 70% of the students studied for

Actuarial Science 2053 Final Exam Formula Page
Annuities Certain
Ordinary Annuity
n
S = R s = R [ (1 + i ) 1 ]
n i
i
Bonds
P = Fr a
+ C (1+ i ) n
n i
A=R a
n
i
= R [ 1 (1 + i)
i
n
]
Perpetuity: A = R / i
P = C + (Fr Ci) a
n
Price Between Interest Dates
P

DEPT. OF STATISTICAL AND ACTUARIAL SCIENCES
Actuarial Science 2053
2012-13
Mid Term Test 2
Friday, March 1, 2013
2-hour multiple choice
7:00 pm 9:00 pm
INSTRUCTIONS
1.
This is a 2-hour closed book examination.
2.
There are 22 multiple choice questions. 1

Actuarial Science 2053 Test 2 Formula Page
Annuities Certain
Ordinary Annuity
n
S = R s = R [ (1 + i ) 1 ]
n i
i
Bonds
P = Fr a + C (1+ i ) n
A = R a = R [ 1 (1 + i )
n i
i
n
]
Perpetuity: A = R / i
P = C + (Fr Ci) a
n i
n i
Price Between Interest Dates
P

AS2053 b term DRAFT Formula Page
Business Decision Tools
CS + M
i
(1 + i ) n 1
Capitalized cost, K = C +
Depreciation
Straight line:
Constant %:
R = (CS)/n
Rk = d Bk1
Bk = C(1d)k
Duration
n
t CF
t
D=
(1 + i) t
t =1
;
n
D
; % price change = MD(jm)100
1+ i

Wendy: I started lifting in 2008. I have had a weight problem
since I was 18 and did the standard yo yo dieting most people
do. I went to gym off and on as well just to try and lose but
then gain it all back. I started 2008 as a single Mom at 46 and
decid