INSTITUTE AND FACULTY OF ACTUARIES
EXAMINATION
30 April 2015 (am)
Subject SA1 Health and Care
Specialist Applications
Time allowed: Three hours
INSTRUCTIONS TO THE CANDIDATE
1.
Enter all the candidate and examination details as requested on the front of y
Faculty of Actuaries
Institute of Actuaries
Subject ST1 Health and Care
Specialist Technical
EXAMINERS REPORT
April 2009
Introduction
The attached subject report has been written by the Principal Examiner with the aim of
helping candidates. The questions
INSTITUTE AND FACULTY OF ACTUARIES
EXAMINERS REPORT
September 2016
Subject SA1 Health and Care
Specialist Applications
Introduction
The Examiners Report is written by the Principal Examiner with the aim of helping candidates, both
those who are sitting th
1
INSTITUTE AND FACULTY OF ACTUARIES
2
3
4
5
6
EXAMINATION
7
8
26 September 2016 (pm)
9
10
Subject SA1 Health and Care
Specialist Applications
11
12
13
Time allowed: Three hours
14
15
INSTRUCTIONS TO THE CANDIDATE
16
17
1.
Enter all the candidate and exam
Faculty of Actuaries
Institute of Actuaries
EXAMINATION
9 October 2009 (pm)
Subject ST1 Health and Care
Specialist Technical
Time allowed: Three hours
INSTRUCTIONS TO THE CANDIDATE
1.
Enter all the candidate and examination details as requested on the fro
Subject ST1 Health and Care.
Specialist Technical.
September 2009 Examinations
EXAMINERS REPORT
Introduction
The attached subject report has been written by the Principal Examiner with the aim of
helping candidates. The questions and comments are based ar
1
INSTITUTE AND FACULTY OF ACTUARIES
2
3
4
5
6
EXAMINATION
7
8
6 October 2016 (am)
9
Subject ST1 Health and Care
Specialist Technical
10
11
12
13
Time allowed: Three hours
14
15
INSTRUCTIONS TO THE CANDIDATE
16
17
18
19
20
21
1.
Enter all the candidate an
1
INSTITUTE AND FACULTY OF ACTUARIES
2
3
4
5
6
EXAMINATION
7
8
9
11 April 2016 (pm)
10
11
Subject SA1 Health and Care
Specialist Applications
12
13
14
Time allowed: Three hours
15
INSTRUCTIONS TO THE CANDIDATE
16
1.
Enter all the candidate and examination
1
INSTITUTE AND FACULTY OF ACTUARIES
2
3
4
5
6
EXAMINATION
7
8
19 April 2016 (pm)
9
10
Subject ST1 Health and Care
Specialist Technical
11
12
13
Time allowed: Three hours
14
15
16
17
INSTRUCTIONS TO THE CANDIDATE
1.
Enter all the candidate and examination
Faculty of Actuaries
Institute of Actuaries
EXAMINATION
30 April 2009 (pm)
Subject ST1 Health and Care
Specialist Technical
Time allowed: Three hours
INSTRUCTIONS TO THE CANDIDATE
1.
Enter all the candidate and examination details as requested on the fron
ifs/Eiiciiigan State University
STT 455 ~ Actsariai lviodels E
Class Test 2
R'iondayg is November 2913
Total Mimics: 390 points
Please Write your name and student number at the spaces provided:
C
Name: . gait EETED M55 L UT? (3 A; Section No.:
0' There ar
lK/licliigan State cfw_Juiversity
$TT 4:553 - Actuariai lvlodeis Li
Final Examination
Illday it December 283% 5:45 w 27:45 PM:
Total Sabre: lil points
Name: SUljCcigi gaihllmi SectionZ
0 There are ten (10) multi- Question Worth Score
ple choice qu
h/l'icitigan State University
STT 455 - Actuarial iviodels 35
Class Test 2
ltlonday, 17 November 2-2913
Totai Eviarks: 190 points
Please write your name and student number at the spaces provided:
Mi.
Name: zgf-cfw_LEEWEM l2 SDQMTEQNS
0 There are ve (5) mu
Niieiiigan State University
STT 455 Actuarial Mlodels E
"Ciass Test 1, _
- lVIonday, 20 cfw_)Ctober 2014
Total fMarks: 300 points
Please- write your name at the space provided:
Name: EM, glALJZEZ
0 There are ve (5) multiple Choice (MC) and one (1) written
Michigan State University
STT 455 - Actuarial Models I
Final Examination
Tuesday, 10 December 2013 5:45 - 7:45 PM
Total Score: 100 points
Section 2
Name:
There are ten (10) multiple choice questions here and
you are to answer all questions asked. Each qu
Insurance Benefits
Lecture: Weeks 6-8
Lecture: Weeks 6-8 (STT 455)
Insurance Benefits
Fall 2014 - Valdez
1 / 36
An introduction
An introduction
Central theme: to quantify the value today of a (random) amount to
be paid at a random time in the future.
main
Suggested solutions to DHW textbook exercises
Exercise 5.2
(a) Y is the present value random variable associated with an annuity that pays continuously
at the rate of $1 per year where the payment starts at the moment of death of (x)
continuing until the
Suggested solutions to DHW textbook exercises
Exercise 2.9
To verify the formula, we need the Leibnitz rule for differentiating an integral:
d
dz
Z
b(z)
Z
b(z)
f (x, z)dx =
a(z)
a(z)
f
b(z)
a(z)
dx + f (b(z), z)
f (a(z), z)
z
z
z
Therefore, we have
Z x+
Suggested solutions to DHW textbook exercises
Exercise 4.1
All answers below did not match textbook answers in the 1st edition. I am glad to see they
corrected this in the 2nd edition - now they match!
(a) 5 E35 = v 5 5p35 = (1.06)5
98485.58
= 0.7359423
1
Michigan State University
STT 455 - Actuarial Models I
Class Test 2
Monday, 11 November 2013
Total Marks: 100 points
Please write your name and student number at the spaces provided:
Name:
Section No.:
There are five (5) multiple choice (MC) and one (1)
Suggested solutions to DHW textbook exercises
Exercise 2.10
For Gompertz law, we have x = Bcx so that
0.000344
172
50
=
=
= c20 .
30
0.000130
65
This gives us c = (172/65)1/20 and thus, we have
Z 10
40+s ds
10p40 = exp
0
Z 10
s
40
c ds
= exp Bc
0
B 40 1
Annuities
Lecture: Weeks 9-11
Lecture: Weeks 9-11 (STT 455)
Annuities
Fall 2014 - Valdez
1 / 43
What are annuities?
What are annuities?
An annuity is a series of payments that could vary according to:
timing of payment
beginning of year (annuity-due)
1 1
Premium Calculation
Lecture: Weeks 12-14
Lecture: Weeks 12-14 (STT 455)
Premium Calculation
Fall 2014 - Valdez
1 / 31
Preliminaries
Preliminaries
An insurance policy (life insurance or life annuity) is funded by contract
premiums:
once (single premium) ma
Suggested solutions to DHW textbook exercises
Exercise 5.4
We simply apply recursion formulas. Starting with a60 = vp60 (1 + a61 ), we get
vp60 =
10.996
a60
=
.
1 + a61
11.756
Extending the recursion to two years, we have a60 = vp60 + v 2 2p60 (1 + a62 )
Michigan State University
STT 455 - Actuarial Models I
Class Test 2
Monday, 17 November 2013
Total Marks: 100 points
Please write your name and student number at the spaces provided:
Name:
There are five (5) multiple choice (MC) and one (1) written-answe
Suggested solutions to DHW textbook exercises
Exercise 5.17
(a) For a whole life annuity-due on (65), we can write the present value random variable of
the benefits as
Y =a
K+1 ,
where K is the curtate future lifetime of (65) with probability mass
Pr[K =
Suggested solutions to DHW textbook exercises
Exercise 3.3
(a) The probability that a life currently aged 75 who has just been selected will survive to
reach age 85 is
`[75]+10
`85
10542
= 0.6617702.
=
=
10p[75] =
`[75]
`[75]
15930
(b) The probability tha
Michigan State University
STT 455 - Actuarial Models I
Class Test 1
Monday, 20 October 2014
Total Marks: 100 points
Please write your name at the space provided:
Name:
There are five (5) multiple choice (MC) and one (1) written-answer questions
here and