Simulation of a Guaranteed Minimum Annuity Benefit

By Freedman · Society of Actuaries · 2019 · ILA101-115-25

Study guide: Exam ILA-101

A Society of Actuaries study note, credited in the syllabus to Freedman and dated 2019, on the simulation of a guaranteed minimum annuity benefit (GMAB). It is accompanied by an Excel model, Stochastic Simulation of a GMAB Option, whose worksheets are GMAB Liab, GMAB liab work, GMAB Liab plus Put, GMAB liab PLUS put work, GMAB_RN and GMAB_RN Work.

On the syllabus

• Exam ILA-101 — Outcomes 5c; the study note, with the accompanying Excel model Stochastic Simulation of a GMAB Option.

Contents unavailable The SOA supplies this study note to candidates and publishes no copy of it online. This page records its citation and assignment from the syllabus; only the names of the worksheets in the accompanying Excel model could be read.

Sources

• SOA Exam ILA-101 syllabus, Nov 2026/Mar 2027/Jul 2027 — the citation (author surname Freedman, 2019), the accompanying Excel model and the assigned outcome (5c); the author's given names and the publisher, Society of Actuaries, are not stated there
• Stochastic Simulation of a GMAB Option (SOA Excel model) — the accompanying workbook the syllabus links: its worksheet names (a macro-enabled workbook, 135 KB)
• SOA ILA 101 introductory study note, Nov 2026 — the study-note code ILA101-115-25 and its title