Mary Pat Campbell, who instructs AFE, recently posted some good advice on taking written exams at the Actuarial Outpost. You may want to check it out.
Good luck getting through the home stretch. It’ll be over soon!
Mary Pat Campbell, who instructs AFE, recently posted some good advice on taking written exams at the Actuarial Outpost. You may want to check it out.
Good luck getting through the home stretch. It’ll be over soon!
Solution has a typo: discounting by 5%, so the denominator is 1.05 (not 1.04). All values are correct, however.
PV(Guar Ben) = [100000 x q60 v + 1p60 v x 75,000 A61 ]
= (100000 x 0.01618 /1.05 + (1 – .01618)/1.05 x 75 x 468.77]
= 34,482.76
Canadian students:
Please note that you can access the US seminar using the link in “My Stuff.” All of the additional drill problems that Jeremy and Anita posted from their live seminar are relevant to the Canadian exam with the exception of the section F problems. Be sure to check these out for additional practice.
Eddie
Canadian exam only:
The cumulative NCPI in solution #2 in the Section F Drill Problems is incorrect. The correct values for this solution are below:
Year |
NAR |
NCPI |
Cum NCPI |
ACB |
1 |
99,950 |
199.90 |
199.90 |
400.10 |
2 |
99,900 |
299.70 |
499.60 |
700.40 |
3 |
99,500 |
398.00 |
897.60 |
902.40 |
4 |
99,000 |
495.00 |
1,392.60 |
1,007.40 |
We have posted all of the handouts from the live seminar. We also posted more problems (practice problems + drill problems).
This includes:
Analysis of 8I exam questions
Practice problems (12) + More practice problems (5)
Drill problems–25 more
Examples from sections C, D, and F used during the seminar–this is basically another 3 sets of drill problems. Especially useful for those of you who did not attend the live seminar
Hope your studying is going well.
Anita and Jeremy
There were some errors in the solution to problem 14 part a.
In the chart, PV#1 at hurdle rate, year 4, is 4.79 (not 4.29). That was a typo. All the answers used the 4.79 value.
When calculating the embedded value for product 2, all the calculations are correct. However, in my explanation I typed 1.06 instead of 1.12. Sorry.
Anita