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The audit trail approach (marks): Communication skills (4) Student can review and check methods (7) Senior Actuary can understand and scrutinise...
"The best estimate liability (BEL) is the present value of expected future cashflows, discounted using a ‘risk-free’ yield curve (ie...
Original terms and risk premium reinsurance can both be written on individual surplus or quota share basis. How? Original terms - involves...
I'm trying to understand the SII balance sheet. Technical provisions should represent the amount that the insurance company would have to pay in...
How do you derive the result for classical credibility Z =(n/n_s)^0.5 I have done this for n_N and n_x but can't derive it for n_s.
My understanding is that: Shortfall probability is P(x<L) and VaR at k%=-L where P(x<L)=k% Am I right in thinking that: Tail VaR at...
See the 2nd sticky post above titled "The Greeks" Page 4 of the pdf shows the derivation. The terms cancel out.
The solution says that it is possible to calculate P(S1>320) using ths distribution of ln(S1/S0). Could someone please demonstrate how to so this.
The first part of the solution calculates the mean as 4.08 V=E[(x-mu)^2] The variance is calculated using 3.36. How did they get this? Is...
Calculate the efficient frontier: I calculated the point where the variance was minimum on the efficient frontier for the risky assets. So...
I cannot get the correct value for the equity shown in the solutions (15.07631) Could someone please provide the working?
Could someone explain how to calculate the provision. The given solution is: provision required at start of year 3 =...
Could someone please explain the solution. (12/80)*(z_45+t+0.5 / s_44)*25000 = value of past service benefit (r_45+t / l_45) = probability of...
Thanks, I just checked it on my PC and it displays properly. I was viewing it on the iPad and for some reason it didn't display properly for that...
Could someone please post the working for this question or an explanation. The pdf with the examiners report is missing all the symbols (+,-,...
I finally figured it out. I put some numbers into the table at the bottom of page 24. Example: Let x=47, NPA=50 (Factor of [S/(80*S_46)] has...
Chapter 14 Pg 26 - EPV of future service benefits: The formula in the first box uses R with suffix x. Summary pg 55 - The formula uses R with...
"Bob is now aged 40 and earned £35,000 over the last year" This corresponds to a salary for 39 to 40 ie salary index s39. The solution states...
“An age retirement benefit of n/80ths of average salary where n is the total service at date of retirement” “Let the member aged x at the...
An annual premium with-profits, 25 year term, endowment assurance policy is issued to a life aged 35. The initial sum assured is £50,000.The...
On 30 June 1999 an annual premium 25-year endowment assurance policy was issued to a life aged 45 who was assumed to be subject to AM92 Select...
