Marking techniques

suppose there is 10 mark question To evaluate expected present value of the benefits offered to two Lives( joint life question) and I wrote the answer in functions form.
I.e. 500000*a: x:n/v^10*tPx+ 20000*a(12)x:n. etc.
and also calculated and showed the value of each function (simple or complex).
But was unable to calculate the single final total amount by putting the value of the functions calculated in the equation stated above.
By how much marks I am likely to be penalized.
Thanks in advance.

 

Couple of marks at most if each function in the equation is right. But if you've got that far it shouldn't take more than a minute to add everything up, so try and complete the addition because the last mark for getting the right answer is an easy one if you've done everything

 

Thank you for the reply sir.Sir one more question plz .there was a question of 4 marks in which we had to write the present value random variable of the loss on a term assurance contract,I mistakenly wrote the answer as if it was a whole life assurance policy. can I expect some marks?
We were also asked to calculate the premiums under the term assurance contract, which I answered correctly though.

 

I think you should get some marks if you showed the death benefit otherwise correctly (ie without stating the "If Kx < n" condition). It depends on how many other details there were (eg expenses) and whether you got these (otherwise) right or not! I would hazard a guess at a max of 2 marks - but given I have no details that really is a wild guess!
Robert

 

Thanks sir for the reply.