IGNOU MECE 003 SOLVED ASSIGNMENT 2021-22

 

MECE-003: Actuarial Economics: Theory and Practice Solved Assignment 2021-22

 Course Code: MECE-003

 Assignment Code: MECE-003/AST/2021-22

 Maximum Marks: 100

 Note: Answer all the questions. While questions in Section A carry 20 marks each (to be answered in about 500 words each) those in Section B carry 12 marks each (to be answered in about 300 words each). In the case of numerical questions word limits do not apply.

Section A

1) State and explain the significance of ‘convergence and limit laws’.

2) Discuss the various aspects of insurance sector that are regulated.

Section B

3) Explain the elements of ‘interest calculation’ with examples.

4) What is a ‘life annuity contract’? How is its ‘actuarial present value’ determined?

5) Write a note on ‘international actuarial notations’.

6) State the key components of ‘extreme value theory (EVT)’ with a particular reference to the ‘generalised extreme value (GEV) distribution’.

7) What are ‘non-catastrophic losses’? How is the ‘total loss amount’ in respect of such a loss determined?

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