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| Section | Weight | Objectives |
|---|---|---|
| Introduction to Actuarial Concepts | 10% | - Overview of actuarial work and risk management - Basic actuarial applications |
| Probability and Statistics | 40% | - Statistical inference and hypothesis testing - Discrete and continuous probability distributions - Measures of location, dispersion and correlation - Basic probability theory - Data presentation and analysis |
| Financial Mathematics Basics | 20% | - Interest rates and discounting - Basic investment and cash flow concepts - Annuities and perpetuities - Time value of money |
| Fundamental Mathematics | 30% | - Algebra, equations and inequalities - Sequences and series - Differential and integral calculus - Mathematical constants and standard functions - Numerical methods |
Question 1
Simplify the expression:
A)
B)
C)
D)
A. Option A
B. Option D
C. Option C
D. Option B
Question 2
Let a and b be two positive numbers and let m and n be two positive integers.
Identify which of the followingequalities is false.
A)
B)
C)
D)
A. Option A
B. Option D
C. Option C
D. Option B
Question 3
Identify which of the following non-terminating geometric series converge, for values of x such that 1 < x < 2.
A. II, III and IV
B. II and IV
C. I and IV
D. I, II and IV
Question 4
Let X and Y be two independent random variables.
Identify which of the following statements is false.
A. E[X2] = E[X]E[X]
B. E[X-Y] =E [X] - E [Y]
C. E [XY] E [X] E [Y]
D. E[2X] = 2E [X
Question 5
Identify which of the following quantities can always be derived from a box plot of a data set.
I.Mean
II.Median
III. Mode
IV. Range
V.Sample size
A. I and II only
B. I and III only
C. IV and V only
D. II and IV only
Solutions:
| Question 1 Answer: D | Question 2 Answer: B | Question 3 Answer: B | Question 4 Answer: A | Question 5 Answer: D |
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