Don't know about Guo, but all-or-nothing are on the syllabus, and one of the sample questions deals with delta-hedging a gap option.

I'm sorry, I misunderstood the question. You are right, the second part is the payment of u-d whenever X>u, so it is (u-d)*(1-F(u)).

Actex is right. (Corrected below.)

Actually ASM has 12 and AB has 4.

Already wrong - read the heading of the table. Those are k|q_x's, not q_{x+k}'s.

Did you account for the fact that 33.4-5 give you losses and 33.6 gives you payments?

The examples you mentioned are neither - they're payments per year. You may calculate that either as average # of payments x average payment/payment, or average # of losses x average payment/loss. ...

If 100p% of losses exceed x, is x the 100p th percentile or the 100(1-p)th percentile? After you straighten that out, you'll understand the ASM solution.

If T=1 and n=2, what is time per period? (Hint: the answer is not 1.)

The policy fee only takes care of per policy expenses. Since the per-premium expenses apply to the policy fee, it must be grossed up to pay the per-premium expenses on the policy fee itself.

Both of you are ignoring the sum signs.

if 1^2+2^2=5 and 3^2+4^2=25, does it follow that 1x3+2x4=sqrt(25x5)?

330.39.

I don't understand your question.

It's not necessary. Occasionally I'm redundant.

There is no error.

Have you tried tabulating the cash flows for those boxes? For the call, foe example, what is the cash flow at time t? What is the cash flow at time T? The schematic in Figure...

No, I am wrong.

You need to maximize the likelihood for each n, starting with the highest observation. You will see a pattern - the likelihood will initially increase (possibly) as n increases, but will eventually...

If losses are X, P=X-d | X>d. In other words, the payment random variable. The letter "P" should've been a giveaway.
No, it means Pr(Loss>3000 | Loss<10,000), an unusual situation not...

ASM now offers the Statistics part of the 3L manual as a separate manual.

It's interesting that you point out Example 10.11 in MQR, but they are trying to calculate how much the company paid. The 5th ASSET SHARE must take into account the payment of 1000 to the survivors...

Did you check the errata? I backed out of 2-year discounting.

There's no set rule for any exam; it can vary. But it's usually about 60%, so 18 questions.

There is some information on www.aceyourexams.net/info.html regarding the use of old editions.

The syllabus has not changed since then.

No syllabus change. I always make incremental changes, particularly taking into account student reports from exams.

I've rewritten the multiple lives/multiple decrement material. If you find it...

You also have the option of purchasing a supplement.

You may post the question. The solutions are not numbered correctly; 12.15 should be 12.16, 12.16 should be 12.17, etc., while the solution to 12.15 starts with "By the delta-gamma approximation ......