For a fully discrete whole life insurance of 10,000 on [math](x)[/math], you are given:

(i) Deaths are uniformly distributed over each year of age

(ii) The net premium is 647.46

(iii) The net premium policy value at the end of year 4 is 1405.08

(iv) [math]q_{x+4}=0.04561[/math]

(v) [math]\quad i=0.03[/math]

Calculate the net premium policy value at the end of 4.5 years.

• 1570
• 1680
• 1750
• 1830
• 1900

For a fully discrete whole life insurance policy of 2000 on (45), you are given:

(i) The gross premium is calculated using the equivalence principle

(ii) Expenses, payable at the beginning of the year, are:

(iii) Mortality follows the Standard Ultimate Life Table

(iv) [math]i=0.05[/math]

Calculate the expense policy value at the end of policy year 10 .

• -2
• -8
• -12
• -21
• -25

For a whole life insurance of 10,000 on [math](x)[/math], you are given:

(i) Death benefits are payable at the end of the year of death

(ii) A premium of 30 is payable at the start of each month

(iii) Commissions are [math]5 \%[/math] of each premium

(iv) Expenses of 100 are payable at the start of each year

(v) [math]\quad i=0.05[/math]

(vi) [math]\quad 1000 A_{x+10}=400[/math]

(vii) [math]{ }_{10} \mathrm{~V}[/math] is the gross premium policy value at the end of year 10 for this insurance Calculate [math]{ }_{10} V[/math] using the two-term Woolhouse formula for annuities.

• 950
• 980
• 1010
• 1110
• 1140

For a fully discrete whole life insurance of 1000 on a select life [70], you are given:

(i) Ultimate mortality follows the Standard Ultimate Life Table

(ii) During the three-year select period, [math]q_{[x]+k}=(0.7+0.1 k) q_{x+k}, k=0,1,2[/math]

(iii) [math]\quad i=0.05[/math]

(iv) The net premium for this insurance is 35.168

Calculate [math]{ }_{1} V[/math], the net premium policy value at the end of year 1 for this insurance.

• 25.25
• 27.30
• 29.85
• 31.60
• 33.35

For a semi-continuous 20 -year endowment insurance of 100,000 on (45), you are given:

(i) Net premiums of 253 are payable monthly

(ii) Mortality follows the Standard Ultimate Life Table

(iii) Deaths are uniformly distributed over each year of age

(iv) [math]\quad i=0.05[/math]

Calculate [math]{ }_{10} V[/math], the net premium policy value at the end of year 10 for this insurance.

• 38,100
• 38,300
• 38,500
• 38,700
• 38,900

For a fully discrete whole life insurance of 100,000 on (45), you are given:

(i) Mortality follows the Standard Ultimate Life Table

(ii) [math]\quad i=0.05[/math]

(iii) Commission expenses are [math]60 \%[/math] of the first year's gross premium and [math]2 \%[/math] of renewal gross premiums

(iv) Administrative expenses are 500 in the first year and 50 in each renewal year

(v) All expenses are payable at the start of the year

(vi) The gross premium, calculated using the equivalence principle, is 977.60

Calculate [math]{ }_{5} V^{e}[/math], the expense policy value at the end of year 5 for this insurance.

• -1070
• -1020
• -970
• -920
• -870

For a fully discrete whole life insurance of 10,000 on (45), you are given:

(i) [math]\quad i=0.05[/math]

(ii) [math]\quad{ }_{0} L[/math] denotes the loss at issue random variable based on the net premium

(iii) If [math]K_{45}=10[/math], then [math]{ }_{0} L=4450[/math]

(iv) [math]\quad \ddot{a}_{55}=13.4205[/math]

Calculate [math]{ }_{10} V[/math], the net premium policy value at the end of year 10 for this insurance.

• 1010
• 1460
• 1820
• 2140
• 2300

For a special fully discrete 25 -year endowment insurance on (44), you are given:

(i) The death benefit is [math](26-k)[/math] for death in year [math]k[/math], for [math]k=1,2,3 \ldots 25[/math]

(ii) The endowment benefit in year 25 is 1

(iii) Net premiums are level

(iv) [math]\quad q_{55}=0.15[/math]

(v) [math]\quad i=0.04[/math]

(vi) [math]{ }_{11} V[/math], the net premium policy value at the end of year 11 , is 5.00

(vii) [math]{ }_{24} \mathrm{~V}[/math], the net premium policy value at the end of year 24 , is 0.60

Calculate [math]{ }_{12} V[/math], the net premium policy value at end of year 12 .

• 3.63
• 3.74
• 3.88
• 3.98
• 4.09

For a fully discrete 30 -year endowment insurance of 1000 on (40), you are given:

(i) Mortality follows the Standard Ultimate Life Table

(ii) [math]\quad i=0.05[/math]

Calculate the full preliminary term (FPT) reserve for this policy at the end of year 10 .

• 180
• 185
• 190
• 195
• 200

For a fully discrete whole life insurance of 100,000 on (45), you are given:

(i) The gross premium policy value at duration 5 is 5500 and at duration 6 is 7100

(ii) [math]\quad q_{50}=0.009[/math]

(iii) [math]\quad i=0.05[/math]

(iv) Renewal expenses at the start of each year are 50 plus [math]4 \%[/math] of the gross premium.

(v) Claim expenses are 200.

Calculate the gross premium.

• 2200
• 2250
• 2300
• 2350
• 2400