SOA FAMFundamentals of Actuarial Mathematics
Associateship (ASA)
3.5 hours (1.75h per half if split)·34 multiple-choice (17 + 17)·≈350 study hoursScore 0/0 · 11 MC
- FAM · Q1Multiple choiceFAM-L: Interest-rate risk & pension intro
A pension obligation consists of a single lump-sum payment of 500,000 due in 12 years, valued at 5% annual effective. Calculate its modified duration.