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ACTSC 445/845 Spring 2017
ASSIGNMENT 4
DUE: 11.59pm Monday 17 July 2017
Submit your answers in pdf form to the LEARN dropbox.
Notes:
You may work on this assignment individually or in groups of up to three people. If
you work in a group, you should submi
ACTSC 445/845 Spring 2017
ASSIGNMENT 5
DUE: 11.59pm Wednesday July 19th
This is an individual assignment. Questions are similar to exam style questions.
You should submit your answers in pdf form to the LEARN dropbox.
1. A shipping company is reviewing it
ACTSC 232 Spring 2017 Tutorial Quiz #2
First (given) Name: Last (family) Name:
ID No.: Egg; 1 3 ii iii User ID (Le. jradcock):
5/
*Please give numerical answers to 4 decimal places whenever possible.*
1. Given that mortality follows a generalized De Moivr
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Wwww t = cfw_2: = PFWk
a) 0:! 303%816 50 USQRDV \cfw_Qg vows 0? (V33 @bbu 6
ACTSC 232 Fall 2016 Tutorial Quiz #Sb
First (given) Name: Last (family) Name:
ID No.: Sill 1 :5 lug ) User ID (i.e.jradcock):
*Please give numerical answers to 4 decimal places whenever possible.*
1. Policy: 20year endowment insurance, issued to (25), of
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ACTSC 232 SPRING 2015
ASSIGNMENT 1 SOLUTIONS
*Please give your answers to 4 decimal places wherever possible*
. 3 30 . . .
1. The funct1on W, 0 s x s (0; 0, otherw1se has been proposed as a surv1val function for a
mortality model. [1 9 marks]
[a] What is
ACT SC 232  Spring 2015 Tutorial Problem Set #4b
First (given) Name: Last (family) Name:
ID No.: 7 User ID (Le. jradcock):

*Please give numerical answers to 4 decimal places whenever possible.*
1. Rearrange the following in order, from smallest to larg
ACTSC 232 SPRING 2015
ASSIGNMENT 3 DUE: Tuesday, July 28 by 6 p.m. ACTSC 232 DROP BOX
on 4th floor of MC Building
*All answers should be given to 4 decimal places
1. Given:
kqx
= (1 r)rk , k = 0, 1, 2, ; 0 < r < 1.
a. Derive an expression for Ax and , in
ACTSC 232 SPRING 2015
ASSIGNMENT 3 DUE: Tuesday, July 28 by 6 p.m. ACTSC 232 DROP BOX
on 4th floor of MC Building
*All answers should be given to 4 decimal places
1. Given:
kqx
= (1 r)rk , k = 0, 1, 2, ; 0 < r < 1.
a. Derive an expression for Ax and , in
ACTSC 232 SPRING 2015
ASSIGNMENT 1 DUE: Monday, June 8 by 5 p.m.
*Please give your answers to 4 decimal places wherever possible*
(300+)(80)
1.
The function
, 0 x ; 0, otherwise has been proposed as a survival function.
24000
Answer the following question
ACTSC 232 SPRING 2015
ASSIGNMENT 2 DUE: Friday, July 3 by 4 p.m. (Drop Box in MC)
1. For a special type of whole life insurance issued to (50), you are given:
Death benefits are 20,000 for the first 5 years, 30,000 for the next 5 years, and
10,000 therea
ACTSC 232 Spring 2015 Tutorial Problem Set #4b
First (given) Name:_
Last (family) Name:_
ID No.:_
User ID (i.e. jradcock):_
*Please give numerical answers to 4 decimal places whenever possible.*
1. Rearrange the following in order, from smallest to larges
ACTSC 371
Chapter 1: The Investment Environment
History of Investment
Investment is the commitment of resources to achieve a return. Financial investment has a long history to at
least ancient Mesopotamia where the rights of borrowers and lenders were ref
ACTSC 445/845 Spring 2017
ASSIGNMENT 2
DUE: 11.59pm Monday 19 June
This is an individual assignment. Questions are similar to exam style questions.
You should submit your answers in pdf form to the LEARN dropbox.
1. On 1 June 2017 a portfolio comprises
5
ACTSC 445/845 Spring 2017
ASSIGNMENT 1
DUE: 11.59pm Monday 29 May
This is an individual assignment. Questions are similar to exam style questions.
You should submit your answers in pdf form to the LEARN dropbox. Solutions do not need
to be typed, scanned
Ken Seng Tan
ACTSC 371
Winter 2016
Chapter Summary
Objective: To explain the institutional details and
mechanics of investing in securities.
3.1 How firms issue securities
3.2 Types of markets and orders
3.3 Securities markets
3.4 Trading costs
3.5 Margin
ValueatRisk (VaR)
For those people who are rigorous in math, the precise statistical definition of
ValueatRisk is as follows:
( )
*
(
)
+
Remarks:
1. When reading other text books or research papers, you may see other expressions
of VaR. Dont be confu
ActSc 372: Corporate Finance II
Assignment Three
Due in class, Friday, November 29th
1. The Brice Co. equity accounts in 2004 are:
Common Shares (1,500,000 shares outstanding)
Retained Earnings
Total
$3,000,000
200,000,000
203,000,000
Suppose that the com
ActSc 372: Corporate Finance II
Assignment Two
Due Friday, November 1st
1. Furniture Depot, Inc., is an allequity firm with a beta of 0.95. The market risk
premium is 9% and the riskfree rate is 5%. The company is considering a project that
will generat
Ken Seng Tan
ACTSC 371
Winter 2016
Chapter Summary
Objective:
Review the principles of bond pricing and to
examine the determinants of credit risk.
1.
2.
3.
4.
5.
Bond Characteristics
Bond Pricing
Bond Yields
Bond Prices over Time
Default Risk
KST  actsc
EVA and Exercises
Return on Assets
Managers are often compensated based on
their return on assets:
EBIT (1 Tc )
ROA
Assets
This can lead to unwanted results. Positive
NPV projects with IRR < ROA will reduce
a manager's return on assets (and therefore
r
Derivation of Formulas
Ben Feng
June 5, 2010
derivation of formulas
1.1
Operating Leverage
Assets =
Revenue F ixedCosts V ariableCosts
Revenue =
R
R
(1
VC
) R
R
A
Assets + F ixedCosts + V ariableCosts
A
FC
VC
=
A +
F C +
V C
R
R
R
VC
A
A +
R
=
R
R
A
Risk Averse: hate risk (require more incremental return in order to
moving into risk)
Risk loving: gambling.
Risk neutral: dont worry about risk
MeanVariance Criterion:
Expected value high and stander deviation low = high return low risk
A plausible util
Ken Seng Tan
ACTSC 371
Winter 2016
Chapter Summary
1. Determinants of interest rates (tutorial)
2. Rates of return for different holding periods
(tutorial)
3. Bills and Inflation (tutorial)
4. Risk and risk premiums
5. Time series analysis of past rates o
True/False Questions (15 marks)
1 For a given set of returns, arithmetic mean always exceeds geometric mean.
2To calculate pure stock return, one should reinvest the dividends of a security in security itself
if they are paid before the end of investment
MeanVariance
Optimization
Outline
Types of Securities
Return Statistics and their Estimation
Formulation of the MeanVariance Problem
Solution of the MeanVariance Problem
Inclusion of RiskFree Borrowing/Lending
The Mutual Fund Principle (Separation
The
Ken Seng Tan
ACTSC 371
Winter 2016
Chapter Summary
Objective: To introduce the features of various security
types, necessary for the understanding of the coming
material
For each security type, it is important to understand its
Price
Yield
Maturity
Cash f