Foundation of Actuarial Science

Across 15 chapters, every question reviewed and exam-aligned.

Tap a chapter to see what it covers.

1. 1Compound Interest, Accumulated Value, Present Value, Investment Returns30 questions30▾

   Compound interest basics: simple and compound interest, present value, nominal and effective rates, and discount.

2. 2Level Annuities30 questions30▾

   Level annuities: immediate annuities and annuities due, accumulated values, perpetuities, and deferred and m-thly annuities.

3. 3Variable Annuities30 questions30▾

   Variable annuities: increasing and decreasing annuities, payments in arithmetic or geometric progression, and their values.

4. 4Redemption of Loan30 questions30▾

   Loan redemption: splitting instalments into interest and capital, outstanding balance, sinking funds and two interest rates.

5. 5Further Compound Interest and Annuities Certain30 questions30▾

   More compound interest: force of interest, rates of discount, and money-weighted and time-weighted rates of return.

6. 6Probability30 questions30▾

   Probability: events, addition and multiplication rules, conditional probability, permutations, combinations and expected value.

7. 7Mortality Table30 questions30▾

   The mortality table: its columns, survival and death probabilities, expectation of life, and select mortality.

8. 8Construction of Mortality Tables30 questions30▾

   Building mortality tables: exposed to risk, estimating mortality rates, census and policy year methods, and graduation.

9. 9Well-Known Mortality Tables - Indices for Comparison of Different Mortality Tables30 questions30▾

   Well-known mortality tables, including Indian and annuitant tables, and ways to compare different tables.

10. 10Life Assurance Premiums30 questions30▾

    Life assurance premiums: equation of value, net and office premiums, single and annual premiums, pricing bases.

11. 11Assurance Benefits30 questions30▾

    Assurance benefits: commutation functions and present values of whole life, term, endowment and increasing assurances.

12. 12Life Annuities and Temporary Annuities30 questions30▾

    Life annuities: commutation functions, immediate and due life annuities, temporary and deferred annuities, and key relations.

13. 13Net Premiums For Assurance Plans30 questions30▾

    Net premiums for assurance plans: whole life, endowment, term and limited payment premiums using commutation functions.

14. 14Net Premiums For Annuity Plans30 questions30▾

    Net premiums for annuity plans: purchase price of immediate and deferred annuities, and m-thly payment adjustments.

15. 15Premium Conversion Tables30 questions30▾

    Premium conversion: identities linking assurances and annuities, converting single and annual premiums, and conversion tables.