In Q14, the death cost for year 4 should actually be calculated as 60000*(aq)33d*(1.03^0.5)=38.73 and maturity benefit is 59961.84. i.e. Total cost is 60000.568 But in revision booklet they directly take as 60000, so do we ignore immediate payment for last year? In Q15, they ask to calculate Expected Present Value of profit if policyholder dies in 1st, 2nd & 3rd year. But in revision booklet they ignore the expected value and calculate only present value of profit thereby ignoring probability. Even the answers in Examiners Report and Revision booklet do not match. I found the examiners report to be correct as per my knowledge. Do guide me. Thank you!
