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L3.2.7 10M
Summary
Sections L3 L3.2 L3.2.7 Summary
Z = vKx+1 , Kx ≥ 0
The Expected Present Value (EPV) is:
∞
E[Z] = Ax = vk+1 ⋅ k qx
k=0
|
∑
∞
E [ Z2 ] = 2Ax = v2(k+1) ⋅ k qx
k=0
|
∑
https://account.coachingactuaries.com/fam/learn/4936/4938/34925 1/7
2023/4/16 12:34 Report - Review Assignment - Practice
Relationships
Ax = vqx + vpxAx+1
2Ax = v2 ⋅ qx + v2 ⋅ px ⋅ 2Ax+1
Varying Benefit
Z = (Kx + 1)vKx+1 , Kx ≥ 0
∞
∑ (k + 1)vk+1 ⋅ k qx
E[Z] = (IA)x = k=0 |
vKx+1 , Kx < n
Z = 0 , Kx ≥ n
{
n−1
E[Z] = A1x: n = vk+1 ⋅ k qx
k=0
|
∑
n−1
E[Z 2] = 2A1x: n = v2(k+1) ⋅ k qx
k=0
|
∑
https://account.coachingactuaries.com/fam/learn/4936/4938/34925 2/7
2023/4/16 12:34 Report - Review Assignment - Practice
2
Var[Z] = 2A1x: n − (
Ax: n
1
)
∞
E[Z] = n Ax = vk+1 ⋅ k qx
k=n
| |
∑
∞
E[Z 2] = 2n Ax = v2(k+1) ⋅ k qx
k=n
| |
∑
https://account.coachingactuaries.com/fam/learn/4936/4938/34925 3/7
2023/4/16 12:34 Report - Review Assignment - Practice
Var[Z] = 2n Ax − n Ax
| ( | )
2
Relationships
Ax = A1x: n + n Ax |
2Ax = 2A1x: n + 2n Ax |
0K +1 , Kx < n
Z = v x ,n ≤ Kx < n + m
⎧
⎪
0 , Kx ≥ n + m
⎨
⎪
⎩
n+m−1
E[Z] = n mAx = n A1x: m = vk+1 ⋅ k qx
k=n
| | |
∑
n+m−1
E[Z 2] = 2n mAx = v2(k+1) ⋅ k qx
k=n
|
|
∑
https://account.coachingactuaries.com/fam/learn/4936/4938/34925 4/7
2023/4/16 12:34 Report - Review Assignment - Practice
Relationship
n mAx
| = A1x+n: m ⋅ nEx
Endowment Insurance
Z denotes the present value random variable of an n-year endowment insurance of
$1 payable at the end of the year of death within n years, and upon surviving n
years: