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IFoA_CAA_M0 – Module 0 - Entry Exam

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Showing 7–9 of 10 questions

Question 7

An insurance company sells policies where, for each policy, the policyholder pays the first £50 of the cost of any claim. A claim reported to the insurance company takes some unknown value £x.

Identify which of the mathematical expressions below represents the cost in £ to the insurance company of the claim.

Select an option, then click Submit answer.

  • ○

    x - 50
  • ○

    x
  • ○

    max(x, 50)
  • ○

    max(x - 50, 0)
Question 8

The variable s can take values between 2 and 6.

Identify which of the inequalities shown can be satisfied by at least one value of s.

Select an option, then click Submit answer.

  • ○

    s + 5 < 6
  • ○

    s + 9 < 6
  • ○

    s - 6 > 2
  • ○

    s - 2 > 2
Question 9

Assuming the position of the first quartile of an appropriately ordered dataset is given by

and the position of the third quartile of an appropriately ordered dataset is given by

Calculate the range and interquartile range of the above dataset.

Select an option, then click Submit answer.

  • ○

    Option A
  • ○

    Option B
  • ○

    Option C
  • ○

    Option D