Recent Content by Joe Hook

  1. Joe Hook
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    Solutions to CM1 paper A mock exam?

    Hi, If I go into the "Script submission - Series and Mock Exam Marking April 2024" - "CM1 Mock Exam 1 Paper A" the solutions are half way down the...
    Post by: Joe Hook, Mar 28, 2024 in forum: CM1
  2. Joe Hook
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    Why is i(p)/p called the "effective pthly rate"?

    Hi Gerry, i(p) is a slightly artificial interest rate which comes about from trying to value an annuity annually that makes payments pthly....
    Post by: Joe Hook, Mar 25, 2024 in forum: CM1
  3. Joe Hook
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    CM1 April 2022 Question 10) i) - dependent probability of surrender

    Hi Danny, Surrenders are only allowed at the end of the year so it does not make sense to turn it into a force. The dependent probability of...
    Post by: Joe Hook, Mar 25, 2024 in forum: CM1
  4. Joe Hook
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    CM1A-April 2023

    Hi, The idea is good: take the expected present value of an annuity paying quarterly in arrears from age 82 but remove the EPV of the first...
    Post by: Joe Hook, Mar 25, 2024 in forum: CM1
  5. Joe Hook
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    Help with inflation index etc

    Hi Leah, If you are index-linking cashflows (increasing them in line with inflation) it's index @ payment date / index @ base date (although...
    Post by: Joe Hook, Mar 22, 2024 in forum: CM1
  6. Joe Hook
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    CM1B Sept 2021 Q1 i)

    Hi, A qx probability is the probability a life dies over the next period GIVEN they were alive at the start of the period. The probability of...
    Post by: Joe Hook, Mar 22, 2024 in forum: CM1
  7. Joe Hook
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    CM1 paper B resources CH11 Q2 - Convexity calculation

    For the formula itself see page 27 of chapter 11. If we differentiate the PV of a cashflow twice: PV of cashflow at time t = c * v^t = c *...
    Post by: Joe Hook, Mar 22, 2024 in forum: CM1
  8. Joe Hook
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    CM1 April 2021 question 7 - reversionary bonus

    Hi Danny, Yes this is correct. If bonuses vest at the start of the year we already have the first term of the death benefits in the form...
    Post by: Joe Hook, Mar 18, 2024 in forum: CM1
  9. Joe Hook
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    Variance of term assurance payable immediately on death - claims acceleration term

    (2)TA:x:<n> term is the expected present value of a term assurance at the squared rate of interest. If instead it's (2)TABar:x:<n> then you just...
    Post by: Joe Hook, Mar 18, 2024 in forum: CM1
  10. Joe Hook
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    X5, question 5(ii)

    Hi, So taking each probability term in the integral in turn: t-1p50(ai) - the probability that the life was in the able state at age 50 but the...
    Post by: Joe Hook, Mar 14, 2024 in forum: CM1
  11. Joe Hook
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    Relationship between joint life advance and arrears

    Hi Danny, Yes this relationship holds. Not the clearest in the course notes but it's implied at the bottom of page 18 of chapter 19. The only...
    Post by: Joe Hook, Mar 11, 2024 in forum: CM1
  12. Joe Hook
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    About (PRO)t

    Yes, the line below the formula on page 32 says "this profit relates to the year starting at policy duration t, that is for policy year t+1".
    Post by: Joe Hook, Feb 28, 2024 in forum: CM1
  13. Joe Hook
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    About (PRO)t

    Hi, Yes this is the same thing. So the year from 0 to 1 is the 1st year. So the year starts at policy duration t=0 but it's the first year ie t+1....
    Post by: Joe Hook, Feb 27, 2024 in forum: CM1
  14. Joe Hook
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    Continuously payable annuity approximation - does it hold for temporary annuities?

    Hi Danny, For the formula to apply please see chapter 14 page 34: abarx:<n> = aduex:<n> - 1/2 *(1 - v^n * npx) This formula comes from the...
    Post by: Joe Hook, Feb 27, 2024 in forum: CM1
  15. Joe Hook
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    Best way to avoid making silly mistakes?

    Hi Danny, Some of your fellow students might be able to help you out with this more than me. However, I would recommend trying to slow down a...
    Post by: Joe Hook, Feb 19, 2024 in forum: CM1