SOA Exam FAM Sample Question 6.45
Study guide: Exam FAM
For a fully continuous whole life insurance of 100,000 on (35), you are given:
(i) The annual rate of premium is 560
(ii) Mortality follows the Standard Ultimate Life Table
(iii) Deaths are uniformly distributed over each year of age
(iv) i = 0.05
Calculate the 75th percentile of the loss at issue random variable for this policy.
[A modified version of Question 8 on the Spring 2017 exam]
- A) 610
- B) 630
- C) 650
- D) 670
- E) 690
Answer this question and see the worked solution