Online Exam: College

Actuaries in the U.S., Canada and other parts of the world earn professional credentials by passing a series of examinations. This Online Exam is designed to give you an idea of the types of questions you might encounter on the preliminary actuarial examinations administered by the Casualty Actuarial Society and Society of Actuaries. Please be sure to review the Actuarial Exams section of the Web Site, where you can access complete sample actuarial exams.

Answer the five multiple choice questions below, then click submit to see your results. If you are a high school student, please take our High School version of the Online Exam.

1.

In calendar year 2002 the claim costs for a particular coverage follow an unspecified distribution with mean equal to $5,000 and variance equal to $2,000,000. Assume that claim cost inflation is 5 percent per year.

Calculate the standard deviation of claim costs in 2004 rounded to the nearest dollar.

2.

Evaluate the following integral given that A is the region bounded by x = 0, y = 0, and x + y = 1.

× e^-(x+2y) dx dy
A

3.

A medical researcher conducts a ten-week study of patients infected with a chronic disease. Over the course of the study, the researcher finds that the fraction of patients exhibiting severe symptoms can be modeled as

where t is time elapsed, in weeks, since the study began.

What is the minimum fraction of patients exhibiting severe symptoms between the end of the first week and the end of the seventh week of the study?

4.

The joint probability density function of the integer valued discrete random variables X and Y is given by

Given that Y = 3 , calculate the probability that X = 4.

5.

The telephone numbers in a certain area all start with 4 and then 3. The third digit can be 7,8, or 9. Each of the last four digits can be any number from 0 to 9. There are 28,243 telephone numbers assigned in the area. How many phone numbers are still unassigned?