Exam fm sample questions - Society of Actuaries

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59. A liability consists of a series of 15 annual payments of 35,000 with the first payment to be made one year from now. The assets available to support this liability are five-year and ten-year zero-coupon bonds. The annual effective interest rate used to value the assets and liabilities is 6.2%. The liability has the same present value and duration as the asset portfolio. Calculate the amount invested in the five-year zero-coupon bonds. (A) 127,000 (B) 167,800 (C) 208,600 (D) 247,900 (E) 292,800
60. You are given the following information about a loan of L that is to be repaid with a series of 16 annual payments: i) The first payment of 2000 is due one year from now. ii) The next seven payments are each 3% larger than the preceding payment. iii) From the 9 th to the 16 th payment, each payment will be 3% less than the preceding payment. iv) The annual effective interest rate is 7%. Calculate L. (A) 20,689 (B) 20,716 (C) 20,775 (D) 21,147 (E) 22,137
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SOCIETY OF ACTUARIES EXAM FM FINANC
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1. Bruce deposits 100 into a bank a
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3. Eric deposits 100 into a savings
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5. An association had a fund balanc
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7. 1000 is deposited into Fund X, w
Page 11 and 12: 9. A 20-year loan of 1000 is repaid
Page 13 and 14: 11. A perpetuity-immediate pays 100
Page 15 and 16: 13. Ernie makes deposits of 100 at
Page 17 and 18: 15. A 10-year loan of 2000 is to be
Page 19 and 20: 17. To accumulate 8000 at the end o
Page 21 and 22: 19. You are given the following inf
Page 23 and 24: 20. David can receive one of the fo
Page 25 and 26: 22. You have decided to invest in B
Page 27 and 28: 24. A 20-year loan of 20,000 may be
Page 29 and 30: 26. Seth, Janice, and Lori each bor
Page 31 and 32: 27. Bruce and Robbie each open up n
Page 33 and 34: 29. At an annual effective interest
Page 35 and 36: (E) Breakeven Breakeven 11/08/04 37
Page 37 and 38: 32. An investor pays $100,000 today
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Page 41 and 42: (E) 8.9% 11/08/04 43
Page 43 and 44: 36. Calculate the duration of a com
Page 45 and 46: 38. - 44. skipped 11/08/04 52
Page 47 and 48: (E) 25% 11/08/04 54
Page 49 and 50: 47. Bill buys a 10-year 1000 par va
Page 51 and 52: 49. Happy and financially astute pa
Page 53 and 54: The following information applies t
Page 55 and 56: The following information applies t
Page 57 and 58: 54. Matt purchased a 20-year par va
Page 59 and 60: 56. Sue purchased a 10-year par val
Page 61: 58. You are given the following inf
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