SOA Exam P Sample Question 243
Study guide: Exam P-1
A couple takes out a medical insurance policy that reimburses them for days of work missed due to illness. Let X and Y denote the number of days missed during a given month by the wife and husband, respectively. The policy pays a monthly benefit of 50 times the maximum of X and Y, subject to a benefit limit of 100. X and Y are independent, each with a discrete uniform distribution on the set \{0,1,2,3,4\}.
Calculate the expected monthly benefit for missed days of work that is paid to the couple.
- A) 70
- B) 90
- C) 92
- D) 95
- E) 140
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