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thanks that makes sense

Is the study group open to retakers?

Thanks for that. Numbering the bullet points is efficient :)

I have noticed a lot of bookwork questions from 2014-2019. Interesting how they structure the answers and link chapters to generate points.

Awesome tips, thanks for that Are there any format tips for writing out answers. I know they advise we use 2.0 line spacing and bullet points....

I'm in the same boat as you. Just finished the revision and now starting past papers and assignments. The plan is to do open book and only during...

\[ \text{estimated total deposit} = \text{monthly deposit} * 12 * \text{deposit term} * (1+i)^{\frac{\text{Deposit term}}{2}}\] Does this feature...

Hi all, Can we safely paste charts as images in the summary reports?

The student that carried out the original model noted the following in his/her audit trail. Note the entries for the first two rows are...

Thanks for this.

This is great news! Most folks don't understand the stubbornness of the IFOA and see them as their friend that puts a high barrier of entry to...

If I had 4 tries to write an exam I would have qualified a long time ago. Not to mention the advantage in spacing exams that would otherwise clash...

CP2 it is then

I did VBA for a bit, python in 2017 and R last year. Will look into SQL

Are firms keen on hiring someone with 12 exams and no work experience? Might as well continue and stop at 12

I sure hope it doesn't get approved

so I should continue with exams despite never being employed?

Might as well quit. All that time wasted on a career that isn't lucrative as what the IFOA suggested. Judgment day?o_O

w What is NTU

at least you have a job. I have been writing the actuarial exams since 2013 and I'm still unemployed. Didn't even have even one exemption. I...

I have the same issue. Sometimes they post double results with weird headings like Fellowship 2005 when I download my exam history

Yes I passed. It's a huge number of rewrites. The IFOA handled the syllabus change terribly.

the possibility of failing and rewriting double or even triple exams

I took CT5 and I'm scared

That's exactly what I did

In an exam setting is this simplification necessary. I try to brute force the general form using the term assurances

In the conventional policy show how you got the year end reserves

Don't show formula for the expected death costs etc. there is a template from the video I have linked below. It shows at the 6 minute mark of the...

I got a different answer, maybe I made a mistake somewhere edit I did make a mistake. Had omitted the a55 annuity.

I'm getting tired of past papers. My neck is starting to hurt with all the back and forth from the tables:(

Some CT4 past papers should have those types of questions if I recall correctly

like it is not constant within the year of age ie between x and x+1? If so I haven't seen them yet

I only did one which required us to find the median value of future lifetime for a given age x

Thanks

Thanks I thought something was wrong with me. Time is a major headache

crystal clear but I had to draw a timeline to see it. Is this how you do it or you now have the vision to see how to do it in the exam. Thanks Mohit

Thanks:)

thanks, so by definition the start of each policy year is the same as time t? say the start of policy year 1 is it the same as time 1 on a timeline?

wow great tip! I have found myself flipping through to the tabulated annuities and discount factors in the tables:(. I guess I will just calculate...

Thanks;)

Thank you. My brain couldn't reason it out at all:D

this is the right way but what does (x-m < 25) represent?

that part I understand, how do we get the required interval for which Tx lies in?

Hi Mohit, I still don't get how we get the Present value Tx bounds or the integral expression

is is correct to assume that during 3 years of past service, the member aged 25 had already paid in those prior years. Hence we subtract sN bar 62...

when you are told that the last salary increase occurred in the year prior to valuation at age x you use Sx-1. You can watch examples of...

Thanks

In the first case why will surrender probability be a dependent probability if it occurs only at the end of year? Do we have to derive the...

I would think this only applies when you are told that the surrenders only occur at the end the year. Otherwise we would have to derive the...

give them a try, I'm sure you will do well. I usually attempt all past papers from 2010 till now

I need CT5 for CT1, I'm slightly nervous as well, might finish the core reading today and then go on the monumental task of revision. That part of...

the first term since \[e^x = \sum\limits_{k=1}^\infty kPx\] use this relation with the summation term for an annuity advance with survival...

draw a timeline. Suppose you draw a timeline from 0 to say 3. It has 3 years with the following intervals [0, 1), [1, 2) and [2, 3). Now apply...

We are certain to get 10 payments if a life aged 40 dies within the next 10 years. So we use a10

Come on mate tell us the secret to passing this exam. I'm on Chapter 3 for the September session

for question 1 I completely forgot about absolute dominance and tried to improvise:D for your second question I did just that

I found the paper challenging and time constrained. 6 marks for listing the steps in model development wasted a lot of my time, plus carring out...

I have recalculated it as follows \(\frac{1}{2}(x + 2 333)\frac{2}{12} + \frac{1}{2}(x + 2 417)\frac{10}{12} = \frac{1}{2}(2 333 + 2417)\) x = 1...

Blurry Screenshot

I think I see what you mean. Both phi(d1) and phi(d2) approach zero when S = 0?

It took me a while to figure out page 47 (Gold Tables Booklet), doh! Wow! Great explanation and the homework made it crystal clear:) Writing the...

Chapter 16 section 1.4 Example: The Black-Scholes formula for call options

Waiting time is the time spent in a state say i. The proof of why it is exponentially distributed is given in the notes chapter 5 page 11[ATTACH]

Suppose you have the following portfolio, 1 short holding of a call option with delta 0.5 1/2 long holding of a share with delta 1 It follows...

\(Log(S_T| S_t)\) has the following distribution \(N(log S_t + (r- 0.5\sigma^2)(T-t), \sigma^2(T-t)) \) The expectation of a lognormal...

Thanks, I was able to derive it with the equation you quoted

Tail VaR at \(p\) is defined as \(\mathbb{E}[max(t-X,0)]\) where \(P(X < t) = p\)

Nt is right continuous. If you look at the second bullet point at the top of the page you attached you see \[N_t = 1, t\in [T_0, T_0 + T_1)\] so...

Figured it out. The process satisfies the Markov property so we only consider \(F \to F \to P\) and \( F \to P \to P \)

Why do we have 2 different SDEs, are they also equivalent?

Similar question to yours with answer https://www.acted.co.uk/forums/index.php?threads/vega-for-stock-price.6326/

I understand it now! Thanks