Actuary Certification Life Contingencies Flashcards
6 cards from real Actuary Certification practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
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What does the curtate future lifetime K(x) represent for a life aged x?
Answer: The integer part of the future lifetime
K(x) is the curtate future lifetime, defined as the greatest integer less than or equal to the complete future lifetime T(x).
The probability that a life aged 30 survives to age 40 is denoted as:
Answer: 10p30
The notation nPx represents the probability that a life aged x survives at least n more years, so 10p30 is the probability of surviving from 30 to 40.
Which life table function gives the expected number of deaths between exact ages x and x+1 out of a cohort of l0 lives?
Answer: dx
dx = lx − lx+1 represents the number of deaths between ages x and x+1 in the life table cohort.
The force of mortality μ(x) is best described as:
Answer: The instantaneous rate of mortality at exact age x
The force of mortality μ(x) is the instantaneous hazard rate of death, analogous to an intensity in a Poisson process.
Under the Uniform Distribution of Deaths (UDD) assumption, qx+t for 0 < t < 1 equals:
Answer: t · qx
Under UDD, deaths are uniformly distributed within each year of age, so the probability of death in the first t years of age x is t·qx.
The net single premium for a whole life insurance of 1 payable at the moment of death for (x) is denoted:
Answer: Āx
Āx (A-bar-x) is the APV of a whole life insurance of 1 payable at the moment of death, using continuous discounting.