MECE-003 Actuarial Economics: Theory and Practice in English Solved Assignment 2020-2021

MECE-003 Actuarial Economics: Theory and Practice

Solved Assignment 2020-2021

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Course Code: MECE-003
Assignment Code: MECE-003/AST/2020-21
Maximum Marks: 100

Title Name

MECE-003 Solved Assignment 2020-21

University IGNOU
Service Type Solved Assignment (Soft copy/PDF)
Course MA(ECONOMICS) MEC
Language ENGLISH
Semester 2020-2021 Course: MA(ECONOMICS) MEC
Session 2020-2021
Short Name MECE-003 (ENGLISH)
Assignment Code MECE-003/AST/2020-21
Product Assignment of MA(ECONOMICS) 2020-2021 (IGNOU)
Submission Date For July 2020 session, you need to submit the assignments by March 31, 2021, and for
January 2021 session by September 30, 2021 for being eligible to appear in the term end examination.Assignments should be submitted to the Coordinator of your Study Centre. Obtain a receipt from the Study Centre towards submission.

 

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Section A
1) (a) Why is it necessary to model interest stochastically? How is a model of ‘stochastic interest’
developed? (b) Differentiate between the features of ‘classical and Bayesian analysis of
credibility theory’.
2) You are required to demonstrate the interplay between ‘finance and insurance principles’. How
would you approach this problem with the help of ‘unit-linked insurance contracts’?
Section B
3) State Markov’s theorem with illustrations. What is the condition required to be met by a random
variable R in order to possess the Markov property?
4) How is a ‘survival function’ defined? In what way is a ‘hazard function’ different from the
‘survival function’?
5) How is Lundberg Risk Model formulated? Suggest modifications therein so as to offer an
alternative to it.
6) State the Optional Stopping Theorem. What technique could be used to analyse the ‘collective
risk’?
7) Write short notes on: (a) Compound-Poisson Process; (b) Black-Scholes Theorem; (c) Panjer
Recursion; and (d) Risk neutral evaluation.

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MECE-003, MECE003, MECE-03, MECE-3, MECE 003, MECE 3, MECE-03

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