Actuarial Science

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...

What are IFoA standards? - correct answer Ethical & best practice standards, apply to all members in profession What forms part of IFoA's professionalism framework? - correct answer - IFoA standards - CPD - Professional skills training - TAS What is the aim TAS? - correct answer So users of actuarial info can have confidence that the info's relevance, transparency of assumptions, completeness & comprehensibility. Inclusion of where info is uncertain For UK operators Wh...

This document consist some summary of survival model ch 6 of CS2 , This contains all the things to learn for this chapter, This tell how to calculate the probability of any model.

What are some categories of poor health that can cause economic insecurity? - correct answers Among the elderly Due to medical reasons Due to a disability What are some needs that arise when someone is sick or in need of medical treatment? - correct answers Hospitalization Treatment from a medical practitioner Drugs Other medical needs Additional health needs (such as dental and vision care) What can happen when the cost of these health needs is not covered by insurance? - correct answer...

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...

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...

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...

speculative risk correct answers A risk that involves three possible outcomes: loss, gain, or no change. (example: stocks) pure risk correct answers A risk that involves no possibility of gain. There is either a loss or no loss. (example: possibility you will become disabled. You can only insure pure risk. risk management correct answers The practice of identifying risk, assessing risk, and dealing with risk. We can do four things: avoid risk, control risk, accept risk, and transfer risk. ...

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...