'calcuate the profit or loss arising from mortality in the 13th policy year' i think this question is vague. 'mortality profit' has a 'opaque' definition anyway i.e. a smoothed profit taking into a/c reserves but 'profit' and then 'some conditions..' this can be interpreted in many ways. for sure it is an actuarial exam and therefore the most complicated and 'fair' calculation should be used as default. i guess i should lose marks on this one for not applying the actuarial golden rule - as above. i think im just bitter cause i got an FA!
