Canadian Institute of Actuaries. L’Institut canadien des actuaires. 2006 General Meeting Assemblée générale 2006 Chicago, Illinois. Future Education Design. OF-28 Chris Fievoli, Mary Hardy, Michel Giguere October 20, 2006. Purpose of Session.
2006 General Meeting
Assemblée générale 2006
Chris Fievoli, Mary Hardy, Michel Giguere
October 20, 2006
The current model encourages:
* OK, not necessarily every university…
When was this question asked?
Find the net single premium at age 55 for a deferred continuous annuity of $1 per year commencing at age 65, with a death benefit before age 65 equal to the benefit reserve at death.
For a deferred whole life annuity-due on (25) with annual payment of 1 commencing at age 60, you are given:
(i) Level benefit premiums are payable at the beginning of each year during the deferral period.
(ii) During the deferral period, a death benefit equal to the benefit reserve is payable at the end of the year of death.
Calculate the benefit reserve at the end of the 20th year.
The random variable X has survival function:
Two values of X are observed to be 2 and 4. One other value exceeds 4.
Calculate the maximum likelihood estimate of θ.
(b) Prove MLE is asymptotically unbiased
(c) Explain why the MLE might not be the best estimator for this data
(d) Given prior, calculate Bayesian estimate
(e) Discuss advantages and disadvantages of Bayes cf MLE