AS2427b Chapter 3 Lecture Notes
January 30+,2017
AS2427a Life Contingencies I
Ch. 3 Life Tables and Selection
3.1 Intro/Overview
3.2 Life Tables
3.3 Fractional Age assumptions
3.4 National Life Tables
3.5 Survival Models for Life Insurance Policyholders
3
AS2427 Ch.5 Lecture Notes March 20, 2017
Chapter 5- Life Annuities
5.1 Summary
5.2 Intro
5.3 Term Certain Annuity Review
5.4 Annual Life Annuities
5.5 Annuities payable continuously
5.6 Annuities payable m-times per year
5.7 Comparison of Annuities by pay
AS2427a
Chapter 2 Lecture Notes
January 2017
AS2427a Life Contingencies I
Ch. 2 Survival Models
(1)
Summary
(2)
The Future Lifetime Random Variable(Tx)
(3)
Force of Mortality
(4)
Actuarial Notation
(5)
Mean and standard Deviation of Tx
(6)
Curtate Future
A8242? Sample Final EXam - 3 hours(120 marks-6 questions)
1) (10 marks) You are given that:
l
: ~ < .
,u(x) 3020 x) for Ox<120
(a) (5 marks) Determine Pr [34 < r0 5 39| up 30] _
(b) (5 marks) Determine 65
2) (20 marks) Use this 3 year select & ultimate mo
AS 2427 Sample Final Exam 2 - 3 hours
(calculators required, Life Tables are a provided as a separate handout)
Name (print clearly)
:
STUDENT ID (print clearly):
_
_
This test is worth a total of 120 marks and there are SIX questions.
Use the mark breakdo
AS2427B Test 2
March 14, 2017
50 minutes
(Non-programmable calculators required)
Name (print clearly):
Illustrative Solutions
Student ID (print clearly):
This test is worth a total of 45 marks. There are 5 pages including this cover
page and 4 questions
AS2427B Test 1
February 7, 2017
50 minutes
(Non-programmable calculators required)
Name (print clearly):
Illustrative Solutions
Student ID (print clearly):
This test is worth a total of 45 marks. There are 6 pages including this cover
page and 4 question
AS 2427 Practice Test2 Question Set-Solutions
Question 1
(i)
Calculate the probability that an individual aged 68 today survives to age 72.
4p68 = l72/l68
(ii)
= 95,841/96,783 = 0.99027
Assume now that mortality improvement is to be reflected in your calc
AS 2427 Test1 Practice Questions - Set 2 (January 2017)
1) (6 marks) Please answer the following in point form.
(a) (4 marks) What benefits are provided with (i) Income Protection Insurance and (ii) Critical
Illness Insurance?
(b) (2 marks) What are the k
AS 2427 Practice Test2 Questions
Note: this IS a good set of practice test/exam questions for Test2.
It is NOT a prior 50 minute test (longer!) and it is not indicative of the relative weights of
material being tested (see test info sheet for approximate
AS2427B Test 2
March 14, 2017
50 minutes
(Non-programmable calculators required)
Name (print clearly):
Student ID (print clearly):
This test is worth a total of 45 marks. There are 5 pages including this cover
page and 4 questions in total. Make sure tha
AS2427 Chapter4 Lecture Notes February 2017
(iii)Discrete Insurance- DB payable at end of mth period
(a) Whole Life insurance paid at end of mth period of death (DB=1)
0
1/m
2/m
3/m
m/m
(m+1)/m
_
x
x+1/m
1/mqx
x+2/m
1/m1/m
x+3/m
qx
2/m1/mqx
.
x+1
(m-1)/m
AS 2427 Test1 Practice Questions - Set 1
(4 questions)
1)
(5 marks)
(a) (1 mark) A $100,000 10 year convertible term insurance policy is purchased. What are the
benefits of the convertibility feature to the policyowner?
(b) (1 mark) Express
tp40u40+tdt
as
AS2427B Test 1
February 7, 2017
50 minutes
(Non-programmable calculators required)
Name (print clearly):
Student ID (print clearly):
This test is worth a total of 45 marks. There are 6 pages including this cover
page and 4 questions in total. Make sure t
AS2427b- Chapter1 Lecture Notes
January 9, 2017
AS2427a Life Cons I- Text Chapters covered
(1)
Introduction to Life Insurance(lecture today)
(2)
Survival Models
Future life time random variable, force of mortality,
international actuarial notation(IAN),e
Chapter 6 Bonds
6.2 Purchase Price of a Bond (on a Coupon Date)
Recall that:
In general, F = C unless stated otherwise
For C > F we say the bond is redeemed at a premium
For C = F, we say the bond is redeemed at par
For C < F we say the bond is redee
A52053 su17: TEST 1 70"mihute's" :'
Calculators are permitted
_ NAME(print clearly)
ID (print clearly)
Use the space provided on the test paper for any rough work
ANSWERS :
2.
. A
_D._
i
j.
i
E.
_g_
11.
12.
13.
V125 A32053 SU17: TEST 1 (70 minutes]:
Cal