Hey guys, I'm practicing exposed to risk today. Please could someone provide some clarity as to what happens when the census data is at "the end of the calendar year"? for both of these questions, the census data is in the wrong format, which i understand how to deal with. since we are looking for last birthday in both questions, but the census data is at next birthday so i introduce P'_x(t)=P_x+1(t). what i dont understand is that the 2016 question seems to assume that 31/dec 2013 is the same as 01/01/2014, but 2014 doesnt seem to do that? please could someone clear this up? thank you
Hi Molly This is a pretty standard assumption. We make this assumption in the 2014 question also. For Company C for example we assume that the 31 Dec figures are the same as 1 Jan figures. Hope this helps! Andy
