Actuarial Quiz

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5

Name any 3 different types of Actuarial Career choices?

GI, Life, Pension, Investment, Bank, etc

5

Who is the first actuary of India?

Mr. L.S. Vaidyanathan

10

What are the mean and variance of a Poisson distribution with parameter λ?

λ

10

Explain the meaning of the following life table symbols: lx, qx, and px?

• lx: The number of people alive at age x.
• qx: The probability that a person aged x will die before reaching age x+1.
• px: The probability that a person aged x will survive to age x+1.

15

Which distribution is used to model total claims costs when both frequency and severity are random?

Compound

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5

Which exams were combined as per old curriculum to create CM2 exam?

CT8

5

Who is the youngest actuary from Accenture India?

Mukul Garg

10

What are the mean and variance of a Gamma distribution with parameter λ?

Mean- a/λ

Variance- a/λ^2

10

Differentiate between term life insurance and whole life insurance?

you should know :)

15

Which distribution can be used to model the variability of insurance claim sizes with a long tail?

Lognormal