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How is the solution showing Cov(X_t, X_t+20) = (t+20)*Sigma^2... I believe the solution should be (t-20)*sigma^2 as there are a finite number...
Hi, In this question when we are evaluating the degree of freedom we have just taken the count of age groups as the degree of freedom (df)....
Hi wanted to know how has the risk free return been calculated in this question. Ideally its a discounting of the capital plus the discounting of...
Part (i) a has asked to define the parameters and the solution has been provided in terms of the transition intensities. Part(ii) a has asked...
The logic for the creation of states is not clear. The answer has clearly mentioned that there are 4 states and not 5 states ( as per comment) My...
Hi can some one please explain this question....Totally stumped here...
The question in part ii asks for the estimate for the non-qualification function... This means that the event of interest should be the days left...
Hi, I am slightly confused with the logic for the same. 1. PSL - This is basis the number of years that the member has been part of the scheme as...
My logic to this has been 500{ a(5 fixed term) + 2/3 * 5|a(xy last survivor) + 1/3 * 5|a(xy joint life)} This is because:- 1. for the first 5...
Dear All, Unable to understand the logic behind the solution provided Kindly assist...
In part (ii) of this question the examiner has asked for comments. In the solution provided the third point says (verbatim) - " This difference is...
In this example on page 13 my query is on the reserving portion. I am clear when we are using the current formula to calculate the reserves......
The question mentions that the benefits mentioned are paid at the end of the relevant policy year. Therefore (as per me) when we are looking at a...
Hi, The solution that has been provided for E[Sr] is taking out the aggregate of the Insurer average from the actual observed average. However, I...
The EVP that has been provided M from t = 0 to t = 59 - x. This is considering that the question has asked to assume that ill-health retirement is...
Hi, getting confused as the DSAR that they have considered in the solution is the value of V(6). Ideally it should have been DSAR = S(1+i)^0.5 -...
Hi, In the sept 2005 Q1, I am not clear s to how the part c and part d have been solved... Assistance required on the math behind it.
The questions mentions that in case of death of the Insured then all premiums paid so far are returned without interest at the end of the year of...
