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Query regarding level of significance

C

Chandrima

Member
If nothing is mentioned in the question, then at what level of significance is to be used in the exam? In question bank Part 4's solution, I am getting that they have used 1% level of significance, but in IFoA question's solutions sometimes they have used 5% level of significance. Which will be the correct level of significance to use in the exam?

(I would request the actuarial tutors to kindly answer this. I am sitting for the exam from IFoA, UK body).
 
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