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Exam (elaborations)

Actuary Exam 1: 2 of 3 Questions & Answers 2023/2024
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13

October 2023

2023/2024

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Actuary Exam 1: 2 of 3 Questions & Answers 2023/2024 What distribution would you use? Number of insurance claims during a given time period. - ANSWER-Poisson What distribution would you use? Number of deaths per year from a given group of people. - ANSWER-Poisson What distribution would you use? Number of mail pieces recieved in a day? Or number of phone calls recieved in a hour? - ANSWER-Poisson What distribution would you use: Suppose on average that a web page gets 2 hits per mi...
Bensuda
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Exam (elaborations)

Actuary Exam Questions & Answers 2023/2024
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13

October 2023

2023/2024

A+
Actuary Exam Questions & Answers 2023/2024 An insurer offers a health plan to the employees of a large company. As part of this plan, the individual employees may choose exactly two of the supplementary coverages A, B, and C, or the may choose no supplementary coverages. The proportions of the company's employees that choose coverages A, B, and C are 1/4, 1/3, and 5/12, respectively. Determine the probability that a randomly chosen employee will choose no supplementary coverage. A. 0 ...
Bensuda
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Exam (elaborations)

ACTUARY EXAM P QUESTIONS & ANSWERS 2023/2024
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October 2023

2023/2024

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ACTUARY EXAM P QUESTIONS & ANSWERS 2023/2024 Continuos Marginal Density of y - ANSWER-integrate over all possible values of x to determine marginal density of y. ∫from(y to 1) (2x+y)dx =2[(×²÷2) - xy]from(y to 1) =1+2y-3y² Percentiles(discrete, continous) - ANSWER-discrete = 50th % or median is Fx(π₅₀) ≥ .50, or the first instance in which Fx is greater than .5 continous = 50th % is ∫from(0 to π₅₀)f(x)dx =.5 integrating with exponent on bottom - ANSWER-bring ...
Bensuda
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Exam (elaborations)

Actuary Exam 1 Questions & Answers 2023/2024
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October 2023

2023/2024

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Actuary Exam 1 Questions & Answers 2023/2024 Mutually Exclusive Outcomes: - ANSWER-Outcomes that cannot occur simultaneously. (disjoint) Exhaustive Outcomes: - ANSWER-Combine to the entire probability space. Or, one of the outcomes must occur whenever the experiment is performed. DeMorgan's Laws: - ANSWER-(A or B)' = A' & B' ; (A & B)' = A' or B' Basic Probability: A - B = - ANSWER-A & B' Basic Probability: A = - ANSWER-(A & B) or (A & B') Uniform Probability: - ANSW...
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