Description
MECE-003: Actuarial Economics: Theory and Practice
Tutor Marked Assignment (TMA)
(For the Students who have taken admission up to January 2022 Academic Cycle)
Course Code: MECE-003
Assignment Code: MECE-003/AST/2023-24
Maximum Marks: 100
Note: Answer all the questions.
Section A
Answer the following questions in about 700 words each. Each question carries 20 marks.
1) How is pricing done in the case of Unit-Linked Insurance Contracts? Explain with particular
reference to cases of (i) no guarantee and (ii) guaranteed benefit.
2) What is meant by Stochastic Claims Reserving? Discuss this in the contexts of (i) Chain-Ladder
Models and (ii) Over-Dispersed Poisson Model.
Section B
Answer the following questions in about 400 words each. Each question carries 12 marks.
3) What are Mean Reversion Models? How is this different from Mean Reversion Jumps Models?
4) Distinguish between ‘Stop-Loss Reinsurance’ and ‘Excess of Loss Reinsurance’.
5) Write a note on ‘Yield Curves’ with examples.
6) Discuss the concept of Maximum Domain of Attraction (MDA) with examples.
7) What are ‘non-catastrophic losses’? How is the ‘total loss amount’ in respect of such a loss
determined?
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