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amity MBA online solve assignment for acturial science

University: 
AMITY
Year: 
2015

amity MBA online solve assignment for acturial science                                                                                                                                                                                                                                                                                                                                                                                ASSIGNMENT A                                                                                                                                                            

1 . An investor wishes to purchase a level annuity of Rs 1200 PA payable quarterly in arrears for five years. Find the purchase price, given that it is calculated on the basis of an interest rate of 12% per annum.a) Effective

b) Convertible half yearly

c) Convertible quarterly

d) Convertible monthly

  
2 . Find the annual premium against a capital redemption policy with sum assured Rs 10,000 ad term 15 years having level annual premiums, payable in advance through out the duration of the policy. The Company issuing the policy calculated the annual premium on the basis of an interest rate of 8 % per annum with allowance for --(a) Initial expenses of Rs 100  and 10% of the first annual premium.

(b) Renewal expenses of 4% of the second and each subsequent annual premium for the policy.

3 . Given that P46 = 0.995138, How many persons age 46 years can be expected to die before reaching the age of  47 years out of a group of 1,000,000?  
4 . Calculate the gross annual premium per Rs 1000 for a policy for which the net annual premium per Rs.1, 000 is Rs 12.49, assuming that a loading of 25 % of the gross annual premium is needed for expenses. What gross annual premium would the policy owner pay for an Rs 5000 policy, assuming a charge is also made of Rs 7.50 per policy?  
5 . Calculate the net amount at risk for each year for a Rs 1000, five- year term  insurance policy  issued at age of 60 years given that the policy’s terminal reserves are as follows:End of year -1 = Rs 4.01

End of year -2 =      6.30

End of year -3 =      6.61

End of rear - 4 =      4.63

End of year - 5 =      0                                                                                                                                                    Calculate the present value at age 40 years of deferred temporary life annuity of Rs 1500 per year, when first payment is made at the age of

6 . Calculate the present value at age 40 years of deferred temporary life annuity of Rs 1500 per year, when first payment is made at the age of 50 years and last payment at the age of 53 years.  
7 . An insurance Company has sold a life insurance policy to a person of age 25 years with premiums of Rs.18.09 payable every year for life. What is the present value at the time if the policy is sold of all future premiums the company will receive?  
8 . Calculate the net single premium at age 62 years for an Rs 7500 endowment at  age – 65 insurance policy.                                                                                                                                            ASSIGNMENT B              Read the case study given below and answer questions given at the end                                                                                                                                                                                                                                  Case study                                                                                                       If an asset share calculation assumes a group of polices is issued totaling Rs 1,000,000 of Insurance, and it furthers assumes that the mortality rate for the first year is q [x] = 0.00168, how much insurance will be shown is in force at the end of the first year if none are assumed to withdraw.                 OBJECTIVE QUESTIONS.                                                                                                                          If a loan is made at a nominal interest rate of 10% which is most likely to seek a very frequent compounding
  1. Borrower
  2. Lender
  3. Insurer
  4. None

 Find the accumulated value at the and of four years of an annuity due of Rs 50 per year at an interest rate of 3 %

  1. 46
  2. 46
  3. 46
  4. 46                                                                                                                                                The expression S3)@7% is equal to:-
    1. (1.07)3 + (1.07)2 + (1.07)
    2. (1.07)2 + (1.07) +1
    3. S2) @ 7%+1
    4. S3)@7 %( 1-.07) -1

    At an interest rate of 12 % per year compounded quarterly, the present value of Rs 5000 due in four years is shown by the expression.

    1. 5000 S 16) @ 3%
    2. 5000 v16 @ 3%
    3. 5000 (1.03)16
    4. 5000v4 at 3%

    Which one of the following does not represent the present value of Rs 100 due five years later?

    1. 100 / (1+i) 5
    2. 100 v5
    3. 100(1+i)5
    4. 100 [1 / (1+i)5]

    If v4 = 0.735, v5 = 0.681, and a 4) @ i = 3.312, Then a 5)@i is equals to:

    1. 577
    2. 631
    3. 993
    4. 047                                                                                                       A man is repaying a loan by paying an installment of Rs 1000 at the beginning of each three months for two years. The interest rate charged on the loan is 8 % compounded quarterly. The amount he originally borrowed was-
      1. Rs 7325
      2. Rs 8583
      3. Rs 7472
      4. Rs 8755

      A woman borrows Rs 1200 from her aunt who makes the loan at an interest rate of 8% compounded semi annually to the nearest rupee. The payment that the woman must make at the end of each half year in order to repay the loan over three year period is-

      1. Rs 181
      2. Rs 187
      3. Rs 220
      4. Rs 229                                                                                             At an interest rate of 4% compounded annually the present value of a ten year annuity immediate is Rs 405.55. The accumulated value at the same interest rate of this annuity at the time of the last payment is:
        1. Rs 273.97
        2. Rs 421.77
        3. Rs 22
        4. Rs 600.31

        A certain group of insured persons all in the same age has been observed over a period of years. If 4,112 persons in this group celebrated their 64th    birthday, and it was observed that 87 of the group had died during the previous year, calculate the rate of mortality at age 63.

        1. 02072
        2. 01072
        3. 03032
        4. 02012

        The probability that on a single draw a card player will draw either an ace or a club from a standard deck of playing cards is :-

        1. 4/52 + 13/52
        2. 4/52+ 13/52-1/52
        3. 4/52 x 13/52
        4. 4/52 x (13/52 -1/52)

        The mortality rate at age x can correctly be expressed as:

        1. dx+1/lx
        2. lx+1/lx
        3. lx-lx+1 / lx
        4. dx-dx+1/lxThe present value of a three – year temporary life annuity of Rs 100 per year for a person now age 25 is represented by the expression:
          1. 100(l26 +l27v +l28 v2 )/ l25
          2. 100( l25+l26v+l27v2 / l25)
          3. 100 ( l 25v +l26 v2+l27 v3 /l25)
          4. 100( l26v+l27v2+l28 v3 / l25 )

          Assume a whole life policy was issued in April 1982. The reserve liability for this policy which the insurance company would include in its December 31, 1984 annual statement most likely is the

          1. Third year mean reserve
          2. Third year initial reserve
          3. Second year terminal reserve
          4. Second year mean reserve
             

            Assume the following figurers apply to a 1000 whole life policy:

            20th year cash value: Rs 495

            Dividend addition: Rs. 55

            Value of dividend credits: Rs. 30

            Policy loan: Rs.125

            If the owner of this policy discontinues premium payments at the end of 20th policy year, the amount of extended term insurance available would be:

            		  
             
            1. 400
            2. 930
            3. 425
            4. 1055

            The net single premium at age 32 for a three year endowment insurance policy of Rs 4000 are expressed in commutation factors as

            1. 4,000 ( M35 –M32 + D32 / D32)
            2. 4,000 ( M32 –M35 + D32 / D32)
            3. 4,000 ( M32 –M35 + D35 / D32)
            4. 4,000( M32 –M35 + D35 / D35)                                                                                                                         Calculate the probability that a newly married couple will live to celebrate their 50th wedding anniversary, if the probability that the husband will live 50 years is 0.277, and the probability that the wife will live 50 years is 0.522.
              1. 145
              2. 277
              3. 522
              4. 1

              If the probability that a certain person will die within the next year is given as 0.0648, calculate the probability that the person will live at least to the end of the year.

              1. 9352
              2. 0
              3. 1
              4. 277Calculate the net single premium for a female age 34 for a Rs 5000/- pure endowment due in 25 years, using a three –year set back for females.( where l56  = 8,223,010 , l31= 9,460,165 and Interest rate = 3% pa)
                1. Rs 2075.73
                2. Rs 1000
                3. Rs 2000
                4. Rs 3000

                Terminal Reserve is equal to

                1. Accumulated value of net premiums received – Accumulated cost of Insurance
                2. Accumulated value of net premiums received + Accumulated cost of Insurance
                3. Accumulated value of net premiums received * Accumulated cost of Insurance
                4. Accumulated cost of Insurance - Accumulated value of net premiums received

                Find the Accumulated value of Rs 2000 at the end of five and a half years if the interest rate is 4% compounded annually during the first two years and a nominal 5% compounded semiannually during the last three and a half years.

                1. Rs 2571.37
                2. Rs 2000
                3. Rs 3002.32
                4. Rs 3050.50

                If a person is paying off a debt to a bank by payments of Rs 75 at the end of each quarter for five years, calculate the amount of the debt. Assume that interest is charged on the debt at a nominal 8% compounded quarterly.

                1. Rs 2000
                2. Rs 1226.36
                3. Rs 1200
                4. Rs 1220.30Find the probability that a life aged 30 survives 10 years. If l40=963206 and l30=980776.
                  1. 9821
                  2. 6851
                  3. 8571
                  4. 9800

                  Assume, that in a given year, a certain group was expected to have Rs.550, 000 in claims, but the group’s actual claim were Rs 700,000. It the credibility % used for this group’s calculation is 65% then the amount of death claims that will be used in the divided calculated calculations for this year is:

                  1. 455000
                  2. 647500
                  3. 602500
                  4. 812500The value of a pure endowment of Rs.600 for a person aged 27 receivable on attaining the age of 30 is:
                    1. Rs 594.38
                    2. Rs 694.38
                    3. 02
                    4. 02

                    The value of temporary assurance of Rs.1000 for 2 years for a person aged 25 is-

                    1. Rs 1000
                    2. Rs 2000
                    3. Rs 3000
                    4. Rs 2500

                    Using the above table and rate of interest of 6% p.a , find the value of temporary  insurance :

                    1. Rs 5.52
                    2. Rs 10.23
                    3. Rs 11.52
                    4. Rs 12.52

                    A special Endowment Assurance policy provides the following benefits:

                    1. On death during the selected term, the basic sum assured together with total premiums paid
                    2. On survival to the end of the term, only the basic sum assured is payable. A person effected the policy by annual premiums at age 25 for term of 30 years. Give expressions for the retrospective and prospective policy values at the end of 10 years and prove that they are equal.
                    3. Nil
                    4. NilA mortality table is represented by the function lx=100*(100-x)^1/2 .Calculate the probability of :Also calculate the limiting age of the table.
                      1. A life surviving from birth to age 19,
                      2. A life aged 36 dying before age 51.
                      3. A life aged 19 dying between ages 51 and 64.
                      4. Nil

                      A life insurance company determines the premium which a policyholder must pay for a particular type of policy by adding a loading of Rs 6 per 1000 of insurance plus 12 % of the gross annual premium. If the net annual premium per 1000 is Rs 34.17; The gross annual premium for 5000 policy is:

                      1. 33
                      2. 95
                      3. 95
                      4. 24The probability that a person age 23 lives to an age 25 is-
                        1. (l26+ d25)/ l23
                        2. (l23- d23)/ l23
                        3. l25/ l22
                        4. (l24+ d23)/ l23

                        Which of the following equations is correct?

                        1. px-qx=0
                        2. px+qx=1
                        3. px+qx=0
                        4. px-qx=1

                        If the probability that Ms Alka will die within one year is 1/10 and probability that Ms Uma will die within one year is 1/20. The probability that Ms. Alka will die within one year and Ms. Uma will live at least one year is equal to-

                        1. 19/200
                        2. 171/200
                        3. 1/200
                        4. 19/20

                        Using a six year setback for females, calculate how many of 100,000 females age 27 can be expected to die within ten year.

                        1. 1944
                        2. 2000
                        3. 3000
                        4. 2500

                         

                        Calculate the present value at age 70 of a Rs. 40 payment at age 80 with benefit of survivorship.

                        1. 81
                        2. 81
                        3. 81
                        4. 41

                        Calculate the amount that a person age 22 should pay for the right to receive Rs. 10 per year, first payment due at age 30 and last payment due at age 32.

                        1. 67
                        2. 32
                        3. 32
                        4. 00

                        The Two Chief foundation stones which form the mathematical bases for life insurance are :

                        1. Compound interest
                        2. Probability
                        3. Both of them
                        4. None of them

                        Role of an actuary is regulated by :

                        1. IRDA
                        2. IAI
                        3. Both of them
                        4. None of them

                        Role of an actuary is regulated by :

                        1. Life insurance corporation of India
                        2. General insurance corporation of India
                        3. Insurance regulatory and development authority
                        4. All of them

    

  
 

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University:  AMITY Year:  2015