Actuarial science - Study guides, Study notes & Summaries

THE UNIVERSITY OF HONG KONG DEPARTMENT OF STATISTICS AND ACTUARIAL SCIENCE STAT2801/3901 Life Contingencies Assignment 3

SOA - correct answer Society of Actuaries - 1949 CAS - correct answer Casuality Actuarial Society - 1914 The Conference or The CCA - correct answer Conference of Consulting Actuaries - 1950 "Ass puh" - correct answer American Society of Pension Professionals and Actuaries - 1966 The Academy - correct answer American Academy of Actuaries - 1965 The Joint Board - correct answer Joint Board for the Enrollment of Actuaries - 1974 The ABCD - correct answer Actuarial Bo...

accumulation function simple interest correct answers 1 + i * t Accumulated Amount correct answers A(t) = A(0) * a(t) Accumulation Function Compound Interest correct answers (1 + i) ^ t rate of discount correct answers [A(t) - A(t - 1)] / A(t) present value v = correct answers 1 / (1 + i) To take the value back to time 0 correct answers A(t) * (v ^ t) In terms of discount, i = correct answers d / (1 - d) In terms of interest, d = correct answers i / (1 + i) a(6,10) is the...

SOA correct answers Society of Actuaries - 1949 CAS correct answers Casuality Actuarial Society - 1914 The Conference or The CCA correct answers Conference of Consulting Actuaries - 1950 "Ass puh" correct answers American Society of Pension Professionals and Actuaries - 1966 The Academy correct answers American Academy of Actuaries - 1965 The Joint Board correct answers Joint Board for the Enrollment of Actuaries - 1974 The ABCD correct answers Actuarial Board of Counseling a...

Risk correct answers used to describe a situation where there is uncertainty about what outcome will occur can describe the expected losses associated with a situation can describe the variability around the expected value Two Meanings of Risk correct answers One situation is riskier than another if it has greater: 1. Expected Loss 2. Uncertainty (variability around the expected loss) Indirect Losses correct answers arise as a consequence of direct losses extremely important fo...

Actuary - ️️A professional statistician who has specialized academic training and who calculates the risks and probabilities of future events, estimates claim costs based on past experience, and uses projections to establish insurance rates Captive Organization - ️️An organization that is formed as a subsidiary of a parent organization to serve the parent organization's insurance needs and that is an alternative form of risk retention Accident Year - ️️A twelve-month account...

Long forward description correct answers agree to buy an asset in future at set price short forward description correct answers agree to sell an asset in future at set price buy a call description correct answers buy the right to buy an asset at a fixed price write a call description correct answers obliged to possibly sell asset at fixed price negative slope correct answers you are bearish positive slope correct answers you are bullish buy a put description correct answers buy...

A guide that provides in-depth coverage of modeling techniques used throughout many branches of actuarial science, revised and updated Now in its fifth edition, Loss Models: From Data to Decisions puts the focus on material tested in the Society of Actuaries (SOA) newly revised Exams STAM (Short-Term Actuarial Mathematics) and LTAM (Long-Term Actuarial Mathematics). Updated to reflect these exam changes, this vital resource offers actuaries, and those aspiring to the profession, a practical appr...

SOA Correct Answer Society of Actuaries - 1949 CAS Correct Answer Casuality Actuarial Society - 1914 The Conference or The CCA Correct Answer Conference of Consulting Actuaries - 1950 "Ass puh" Correct Answer American Society of Pension Professionals and Actuaries - 1966 The Academy Correct Answer American Academy of Actuaries - 1965 The Joint Board Correct Answer Joint Board for the Enrollment of Actuaries - 1974 The ABCD Correct Answer Actuarial Board of Counseling and Disc...