SOA FAMFundamentals of Actuarial Mathematics

Associateship (ASA)

3.5 hours (1.75h per half if split)·34 multiple-choice (17 + 17)·≈350 study hours

Score 0/0 · 11 MC

FAM · Q1
Multiple choice
FAM-L: Reserves (policy values)
For a whole-life policy with death benefit 1,000 payable at the end of the year of death, the policy value at time 10 is 100, the annual net premium is 20, $i=5\%$ and $q_{x+10}=0.01$ . Calculate the policy value at time 11.